Jay Porter from SS+K was in touch with me with an interesting question on metrics on performance and ROI from Public Relations.
From Jay’s e-mail (with kind permission):
“Our firm is always searching for ways to provide clients with metrics on performance and ROI that are both actionable for them and fair to us. For a particular client, we have settled on a scorecard approach that looks at both quantitative and qualitative measures of activity and results. As we refine this, we are searching for a simple way to weight coverage from trade, business, and more general media (for this client, generally print). We use a set of subjective guidelines to rate stories, but a great hit in a small newsletter obviously isn�t as powerful as a mostly positive write-up in BusinessWeek. Do you of any established tiering system for print media that takes into account relative influence as well as circulation? Or, to the larger point, are there established best-practices for coverage scorecards that you would recommend?”
I think this is a good opportunity for you kind reader to contribute something. I’ll kick off with some thoughts, please feel free to add you two cents either via the comments below or you can e-mail me your comments directly if you prefer.
OK, so here are some of my thoughts:
Audit
The first step is to identify what media “moves the needle” for your client. In my experience a well targeted story in a low circulation publication that is tightly focused on your clients’ business can generate a lot more noise than a story in “Business Week.”
How do you do this? Find out what the client reads, if possible find out what some of their customers or partners read. What publications have historically driven business?
Grading outlets
I think you’re on the right track with the tiering system.
The most basic form of this style of measurement is using circulation figures, though as I’ve already stated this doesn’t take into account qualitative coverage.
So step two is to decide what media outlets (print, online, live media etc.) will make a real difference to your client and weight them accordingly. There’s a wide range of methodologies on what weight or scoring you should use.
Grading coverage
You can further analyse these results by grading the type of coverage; e.g. a product story, inclusion in a headline, client quote in a feature, quote in competitor’s story etc.
Automate it
At this stage it’s clear we are developing a model, so an application like Excel can help to automate much of the entry and analysis of these figures.
Extend the measurement
The next step is to get the client involved. By analysing trends over time such as web hits, online registrations, whitepaper downloads etc. it is possible to begin to see how successful PR tactics is driving traffic which although not an end in itself is a useful gauge to what coverage is contributing to the company’s objectives.
So, what are your thoughts?