Cycling IncubatorsLoek Luijbregts · Netherlands

Earned media

Stop reporting impressions without explaining what they bought

A six-rung ladder from attention to commercial result, and how to report the highest rung you can actually support with evidence.

Loek Luijbregts · 2 July 2026 · 2 min read

Marketing reports tend to lead with the largest number available. Millions of impressions, thousands of engagements. Those answer a distribution question, which is: how much opportunity was there? They do not answer the commercial question, which is: what valuable progress followed?

The fix is not pretending every impression caused a sale. It is building a credible chain from attention to business outcome, and being honest about where on that chain your evidence stops.

The earned ROI ladder

1. Attention — impressions, reach, views, coverage. Report the method, the period and the source.
2. Trust — relevant press, expert participation, credible product use. Watch branded search, direct traffic and what sales hears.
3. Action — route clicks, site visits, registrations, downloads, enquiries, subscriptions.
4. Qualified opportunity — a lead that fits the customer profile, has a relevant need, and can realistically buy.
5. Commercial result — sales, gross profit, funding, rebookings. Attribute honestly when several things contributed.
6. Compounding asset — a subscriber base, an evergreen route, a reusable proof library, media relationships, partnerships that keep producing.

Three worked examples

Pilot Cycles: nine million impressions and 280 leads for bikes over eight thousand euros, run entirely remotely, with no ad spend. Leads are not sales. The responsible next step is qualified leads times observed close rate times gross profit per sale, compared against total investment, and only when the inputs are credible.

A tourism board route programme: hundreds of thousands of route clicks, repeated annual rebookings, no licence costs and no ad spend. Route clicks show active interest. Rebookings show the client valued the approach enough to keep buying it.

A filmmaker I coached: retained full ownership of his work and reached a tenfold return on a collaboration within nine months from a standing start. Value captured through ownership, not impressions.

Build the measurement before the distribution

Before publishing, agree on the business decision the work supports, the ideal audience, the next action available to them, the systems capturing visits and leads, how lead quality gets recorded, the reporting period, and which results are direct, assisted or merely correlated.

Measure the cost of the alternative honestly

Do not claim ad savings by multiplying impressions by an arbitrary media value. Compare against what it would realistically cost to buy similar distribution, content, trust and lead capture another way, and include internal time, production, travel, tools and partner costs. Zero ad spend is not zero investment.

A board-ready structure: objective, investment, attention, quality, commercial movement, assets created, limits, next decision. Big reach becomes proof when the business can show who acted, what changed, and which assets keep working after the attention has moved on.

Also published in Dutch on loekluijbregts.com, where the same thinking is applied to owner-led companies outside cycling.

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