Marketers know that earned media is valuable, but they can’t maximize its value if they misunderstand what it is or how to measure it. Marketers’ definition of earned media runs the gamut from word of mouth to residual effects of advertising — and everything in between. The lack of consensus on a definition is exacerbated by the industry’s lack of measurement standards, reliance on dubious math or vanity metrics, and assumption that earned media is perceived as more trustworthy. This report helps B2C marketers correctly define earned media — all that it is and isn’t — and offers an approach to evaluate it.