Long story short: In September 2017 I visited an accommodation company called Levin Iglut, located in the Finnish Lapland. During the stay I shot a timelapse video, which became quite popular in social media, especially in Facebook. This blog post is about the statistical performance of the post. Feel free to question and challenge everything! 🙂
In order to measure the performance of a particular post, we need the following information:
- Shared posts (with and without the mention of Levin Iglut/Levi Finland).
- Engagement: Views, likes, comments, shares.
- CPM = Cost per thousand views = How much a company has to pay so that their post gets 1000 views.
- CPC = Cost per click = How much a company has to pay that a person who has seen the post will engage.
I decided to include the following assumptions in the research:
- All views and engagement are from real people (no bots).
- All engagement (likes, comments & shares) are summer up as ‘clicks’. In reality these have different values and effects on reach.
- Values for CPM and CPC are taken from AdStage’s 2017 blog assuming they are not 100% accurate in this context, but still reliable and effectively correct. To give more insight, I included CPM and CPC values from the beginning of 2017 and from June 2017
|Views||€ January 2017||€ June 2017|
|Total views||3 827 700||13 435,23||36 401,43|
|With Levin Iglut||2 088 500||7 330,64||19 861,64|
|Total engagement||287 778||103 600,08||241 733,52|
|With Levin Iglut||135 039||48 614,04||113 432,76|
|€ ($)||€ ($)|
|CPM||3,51€ (4,12$)||9,51€ (11,17$)|
|CPC||0,36€ (0,42$)||0,84€ (0,99$)|
Findings and notes:
- According to study, the earned media value and engagement for Levin Iglut was between 56 000€ and 133 000€. Whats earned media value? EMV refers to publicity gained media through promotional efforts. Still, what really matters is what happens next. Did someone Google the company? Did someone start following their channels? Did somebody actually buy something?
- The difference between January and June are massive, over +130% increase in the values! This could be explained by advertisers flocking into Facebook and that advertiser’s Facebook budgets are growing.
- In the context of travel advertisement the values could be dramatically smaller, but the correct CPM and CPC values are very difficult to find.
- Even the number are estimates, they clearly show that artist/influencer/content producer collaborations can be very valuable!
Prices from AdStage blog.
Currency change on Oct 2nd 2017