PR is often perceived as something not quantifiable, while leaders expect to see evidence of its effectiveness. However, a combination of qualitative measurement and quantitative assessment should take place in order to have an efficient PR strategy. There should be an appropriate procedure involving the formulation of objectives before the implementation of a campaign, measuring the right things, and establishing a connection between those results and the performance of a business. The following steps will help you to develop the procedure and calculate ROI without deception.
Set Clear Objectives
Measuring begins even before a single press release has been issued. Define objectives for the campaign: increase awareness of your PR company within a particular target audience, increase credibility of your product launch, recruitment or sales goals, etc. Your objectives should be specific and have a deadline. Otherwise, any kind of coverage would look like success.
Track Output Metrics
Such measures of output as the amount of press releases issued, interviews secured, media coverage obtained and events attended play a crucial role in the process management; however, they cannot confirm the impact of their contribution in isolation. Evaluate output measures on an ongoing basis in order to compare campaigns. However, do not regard output measures as the final point of your campaign evaluation, because numerous low-quality articles may bring minimal results. Output measures will be most effective when evaluated against the set objectives of the campaign.
Evaluate the Quality and Relevance of Media Coverage
The quality of the media coverage is much more important than its quantity. Find out whether the articles reached your target audience, whether your key messages are reflected correctly, and whether the article in question is reputable in your industry. Consider the tone of the coverage and corporate image as an industry leader. One article in a prestigious trade publication may be more valuable than numerous other articles in various publications. Ensure that the coverage can be accessed in the future.
Measure Outcome Metrics
Outcome metrics will show whether the campaign was successful in influencing people’s perceptions or actions. The outcome metrics include voice share against competitors, changes in the number of times that the brand is searched for, traffic to the website due to PR activities, inquiries from target audiences, surveys of increased awareness/perception. Conduct a pre-campaign measurement to ensure that there is actually any change because of the campaign.
Linking PR and Business Outcomes
The most compelling way to prove the value of your work is to connect it with business results. Observe whether the time frames when your campaigns were run coincide with an increase in the number of leads, sales inquiries, partnership propositions, or applications for jobs. Use specific landing pages, tracking codes, or survey questions about the sources from which customers knew about you.
Calculating Return on Investment
It is very simple to calculate PR ROI, which entails calculating the value generated and subtracting the cost of the campaign. The value is obtained from sales resulting from the campaign, the cost of other media used, and the dollar value of improved recruitment. Subtract costs from the value generated, divide the figure by cost, and multiply by one hundred. Be straightforward with your assumptions, as their validity determines how accurate the estimates are. You should conduct the exercise for two to three scenarios to determine the range of the possibilities.
Popular PR Measurement Mistakes to Avoid
Using advertising value equivalencies as the only method of measurement is an exaggeration of the impact, as they cannot be compared. All mentions being counted regardless of the content is another form of exaggeration. Absence of the baseline makes it impossible to prove any improvements. Reporting success stories only is deceptive. Define the terms beforehand and include the successes and failures.
Reporting and Improving Over Time
Share the results in a brief report covering objectives, activity, results, impact, and recommendations. Describe what works well, what does not, and what can be improved in future PR campaigns. Some patterns will appear in multiple PR campaigns and will become apparent when it comes to the most effective stories, spokespeople, and communication channels. Continuous measurement becomes an excellent instrument for decision making thanks to such an approach.
Choosing Metrics for Different Audiences
Different audiences usually have their own interests in terms of the results of a PR campaign. Executives may need information on revenues, recruiting, and reputational risks. Communications professionals measure message awareness and share of voice. Partners need evidence of increased demand. Select several metrics per audience and make sure to tie them to the goals. Dashboards featuring all kinds of information rarely help people to make decisions, so the amount of key performance indicators should be limited.
Measurement Leading to Further Investments
The measurement of PR success includes setting clear objectives, continuous measurement, realistic quality assessment, and links between PR initiatives and the results of the business. Transparent ROI assessment proves the real value of PR activities.
