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PR Measurement - how can we measure return on investment?
Is Advertising Value Equivalent an effective solution?
AVE has served its purpose over the years and is, essentially, an easily understood way of demonstrating the value of PR and the ROI to people within an organisation that may not have a media and marketing background, but who are very significant decision makers.
According to the findings of the latest PR measurement report (http://www.metrica.net/
Despite the obvious failings of AVE what remains clear is the immense impact PR has on an organisations’
What is evident is that PR is measurable on some level but a universal measurement tool that takes into account every possible element is not within reach. What we do know is that PR needs to measure:
-How many individuals have seen the coverage, more importantly a profile of who has seen the coverage.
-How many times the coverage has been seen.
-How many different mediums has the intended target audience used to engage with the message and or organisation?
-Which medium generates the most response / reaction either positive or negative?
-The relevance of the publications / mediums featuring the communication?
-The importance of the message to both the organisation and the intended target audience?
-The influence the ‘conversation’
-Volume and favourability of coverage
-Reaction to communicated message – positive / negative/neutral
-Relevance and delivery of key messages
-The number of articles achieved
-Analysis of industry trends and issues
The only real solution is to assemble a collection of ‘measurables’