Public relations is a valuable part of marketing, sales and brand development, but it can be difficult to show the tangible ROI from media hits generated by a PR firm. Since one of our core values is “generate measurable results,” showing our value is important to us.
We use media valuations to give a cost value to the media placements we secure. Traditionally, PR firms use the advertising value equivalent, meaning we use the price you would have had to pay to get an ad of the same size in that publication. For print media hits, we are sticking with this method in 2015. Read about why we like use advertising values here.
For online media hits, we’re updating our methods this year. The online versions of print publications are vastly different than their counterparts, and many well-known online media outlets have no print version. If you’re ever purchased an online ad, you know the rates work differently than print ads. Instead of paying per ad, you pay per impression, which makes comparing the stories we secure to ad values difficult.
So we revised our valuation process. The value of online media hits now depends on the number of unique visitors that specific website receives each month. This follows a simple philosophy: The more people that see your article, the more valuable it is to your business. It also allows us to better show the value of outlets like the Huffington Post and TechCrunch that have no print equivalent. We put in place a similar process for television hits, valuing them based on the length of the segment and which newscast it appeared on.
The biggest change to our media valuations is also the one we’re most excited about –the impact score. This is our proprietary way to measure the impact of the articles we place. Articles get points for tone, positioning, social media sharing and meeting qualitative drivers that are important to the client. This allows us to personalize the ratings of our hits based on what the client really wants to see. It also shows the added value of an online hit that was then tweeted or shared in an email to thousands of additional people.
We generate results every day, but this new media valuations process allows us to make sure we are measuring them in a way that matters to our clients.
How do you show your ROI and value media clips?