Five Measurements for Success, as an alternative to Return On Investment calculations, for your PR activities

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In today’s socially connected world, public relations are more important than ever before.

Today, a single tweet from the right Kardashian could be worth more than your entire advertising budget.

Your consumers are looking up your business online, reading reviews, tweeting about products, and crowd sourcing their experience with your brand.

Many companies are for a good reason, focused on the ROI of it all, when it comes to public relations results.

Having in mind that 70% of PR companies are offering diverse services, ranging from media relations to event management, means that it can sometimes be pretty hard to fulfill the PR customers need for a bullet proof number – expressing the ROI from PR activities.

PR professionals have a hard time guaranteeing ROI in numbers.

A different approach to your spending at PR activities brings you much more value for your money.

PR ‘hits’ are never guaranteed, but they often happens and they spur brand affinity.

That results in a ROI that’s outside just the traditional dollar for dollar measurement.

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Here are five things your PR team also should be worried about, as an alternative to only crunching numbers:

  1. Are You Keeping Your Competition Out of the Media?

Public relations aren’t only about keeping your brand in the media spotlight; it’s also about keeping this spotlight from shining on your competitors.

Every placement you get, every article written about your company, and every positive mention you receive is chipping away at your competition.

Ignoring your public relations plan is allowing your competition to overtake your niche and steal your brand awareness.

  1. Is Your PR Team Forming Valuable Relationships?

At heart, the “relations” part of public relations is the most important.

A good PR team will build connections to prominent figures, media tastemakers, and journalists.

A great public relations team, however, will build lasting relationships by working as a bridge between your needs and the needs of the media.

A company’s PR reputation is developed by a 2-3 years communication plan, where you at least – on a weekly basics – communicate with the media and customers, so they gain an understanding of what your company is trying to achieve for them and thereby what your company goals achieved means for your customers – and not forgetting to mention – the positive effect your company’s development has on the local and maybe even at national level.

Working closely together with PR team can  support your efforts through client offerings and information’s.

Your company’s PR team shouldn’t be trying to ‘sell’ your brand, but rather find a way that your brand can be of service to the media, and through the media, communicate their offerings to the consumer.

  1. Is Your PR Team Building Your Brand?

Speaking of brands, building up a recognizable brand identity is perhaps one of the most essential reasons to utilize public relations professionals.

You can’t afford to let the market decide what your company’s brand will be; you need to be proactive about getting out there and telling your story.

Your company’s PR team should work with the media to bring the consumer a wholly formed brand story.

They should help consumers understand at a glance what differentiates your company as a brand from its competitors. What is unique and compelling about your company as a  brand and its founders, and what makes your company able to fulfill your B2B and B2C customers need for progressive revenue development and fulfillment.

  1. Are You Reaching Your Target Market?

Thanks to big data and new technology tools, it’s becoming easier to target smaller and smaller sub-segments of your target market.

Public relations professionals can not only help you determine which markets you should be focusing on, they often also have ready-made relationships within the communities you want to enter.

Imagine you’re trying to target customers within the beauty industry with your new product. Advertising can gain you recognition, but PR can help you pinpoint the movers and shakers you need to turn from skeptics into fans.

Your company’s PR team knows which publications your ideal customer reads, what they’re saying on social media, who the big digital stars are, which spokesperson your market is obsessed with, and how to gain market share with your target audience.

  1. Do You Have The Right Endorsements?

Endorsements are huge when it comes to selling your brand and telling your story. According to research, consumers trust recommendations from friends, colleagues and companies they have done business with, to an extend that exceeds any other form of marketing.

Thanks to social media, the average B2C consumer’s network also involves tastemakers, niche digital stars, and celebrities.

A recent survey of UK social media users showed 33 percent of all users follow celebrities.

Positive mentions still have the ability to have a tremendous effect on a company’s bottom line — brands received as much as a 20 percent increase in sales, simply for commencing an endorsement deal.

PR is about creating an environment of authentic endorsement.

A good publicist should work to make sure your name is known and your brand offering is understood among editors, journalists, spokesmen, politicians on local and national level, as well as tastemakers, like celebrities and influencers.

Public relations professionals can help you connect and build relationships with the movers and shakers relevant to your target market.

Trusted leaders, influencers and celebrities, can have as much consumer trust, as a close friend or family member, meaning it can be enormously beneficial to form the right connections.

While ROI is certainly important, there are more ways to measure it than just a dollar for dollar immediate return. It’s not the bottom line when it comes to receiving the most value from your public relations team.

Your PR team is building your brand identity, keeping your competition out of the spotlight, and forming incredibly valuable relationships for your company.

This might seem more intangible, than a set of numbers to be crunched, but it can be essential for your company’s success.

What do you think?

 

Yours sincerely,

Marcus Vigilius Brendstrup

CEO for MVMDCC.COM