When business conditions get tough, it’s a natural reaction to cut costs wherever possible. Sadly, many PR and marketing budgets are among the first to suffer the accountant’s axe – ironically when survival and maintenance of market position really depend on the ability to fight more fiercely.
Unlike sales activity, which produces easily measurable results, much of the PR and marketing effort involves shaping people’s attitudes to products or companies and so the benefits tend to be qualitative, rather than quantitative – and therefore more difficult to measure. Evaluating the spend on PR has always been tricky, which is why budgets often cannot be justified in difficult times. But there are ways to argue the case for PR:
Space has value
PR space in print media can be evaluated in terms of equivalent advertising costs – and arguably at a premium if it is published in editorial rather than advertorial columns. Get a good cuttings agency to ensure all your coverage is collected, measure it, then work out its cost using the single column centimetre price. If the total value exceeds the cost of PR, you are on the right track.
Time on commercial radio and TV can be valued in the same way as print media. Appearances on the internet are becoming more and more valuable because of the growth of the medium, although value is difficult to assess – and this is complicated by the spread of both positive and negative comments on social networking sites and intranets. It’s worth seeking help from specialists in deep web searching to get a proper grasp of the return on your investment in PR, identify your true ‘share of voice’ and find out what the public really thinks.
Make sure that the PR message includes a call to action – such as ringing a dedicated phone number or sending an e-mail response – that can be measured. Then it is easy to show when PR – or a specific part of a campaign – is doing its job properly. There’s a possible bonus: many of those responses will have potential for conversion into real sales.
Invitations on the up
Building a strong presence through PR gets noticed by the media, too. Expert opinions identify market leaders who are always in demand for off-the-cuff comments or specialist articles. Leading company figures may also be invited to speak at local, national or international conferences and other events. All these invitations can be tracked to amplify the PR case.
Speak to people
When you have evidence that PR is more than just a nice-to-have, spread the word among the influencers inside your organisation. Let them see that you are investing your budgets wisely and contributing to success on the bottom line. But a word of warning: don’t get hooked on reporting – always focus your effort on creative PR.
David Goddin was born in the UK and educated in South Africa. He began his career on daily newspapers and trade journals, before moving into public relations consulting. He produced award-winning writing and became an Accredited PR Practitioner, the highest qualification of the Public Relations Institute of South Africa. Since his return to the UK 17 years ago he has also contributed to a number of highly successful PR and marketing communications campaigns for major national and multinational clients. He is currently also President of the Haslemere & District Chamber of Trade & Commerce.