By Mark Macias
Business owners always ask me how can they measure the ROI of PR. The question inspired a recent thought leadership article I wrote for Forbes, which you can read here.
Contrary to what many business owners and entrepreneurs think, you can measure an effective PR campaign. Here are 5 approaches that I broke down in my Forbes article. You can read that article if you’d like to hear more in-depth on these approaches.
Media Placements for ROI
Not all media placements are created equal, so merely measuring the number of media placements is deceiving. Quality definitely trumps quantity when it comes to media placements. An effective media campaign will also be targeted.
PR Brings Increased Credibility with Customers
If you’re thinking about buying an expensive product or service, most consumers will do their homework and look for reviews. Positive online reviews in the media are one of the most effective tools for sales. I’ve found online reviews are even more valuable with millennials and Generation Z, so if your PR team can secure positive reviews in the media, that’s another way to measure an effective PR campaign.
Web Analytics Measure ROI of PR
In my experience, news organizations are now getting stingier with their backlinks, but that doesn’t mean you can’t still drive traffic from news stories. One of my team’s strategic approaches is to create content that supplements the story and embed it on your website. If the news organization is not able to include the additional information, it might be a fairly easy sell to get them to link to the supplemental material.
Improved SEO Ranking
Google doesn’t reveal much about its search algorithm, but it’s clear that quality content and news articles play a large role in deciding what gets on the front page. If the Washington Post, CNN, CNBC and local TV are all writing about your brand, Google spyders will likely recognize the attention and give your website a higher emphasis with search rankings.
New Revenue and Sales from PR
This is one of the hardest values to measure because the consumer or enterprise might read about your product and take a different sales route to your business. The new customer might call your business after reading an online story or Google your business after watching a story on TV. The paths aren’t always as clear as a paid click that goes directly to your site.
ABOUT MACIAS PR
Finance Monthly and ACQ5 5 – an international industry award – named MACIAS PR the 2017-2019 Strategic PR Firm of the Year, and PR Firm of the Year. This was the third year in a row that Finance Monthly recognized our firm. The founder – Mark Macias – is a former Executive Producer with NBC and Senior Producer with CBS in New York. He is also a PR contributor with CNBC, providing media analysis, insight and crisis advice on timely business topics.