Return on Investment: Is That All You’re Worried About?

As the field of Public Relations is constantly growing and molding into different avenues, its becoming harder and harder for PR professionals to provide their clients with hard Return on Investment numbers. A tweet from a Kardashian can be worth more than a company’s entire advertising budget or a YouTube video showcasing your product with Taylor Swift can be seen by more than people than the number of citizens in America.

The way Public Relations works has completely shifted in the past 10 years and continues to morph and change as new services and methods of communication are created. According to an article in Forbes, the focus of Public Relations isn’t on hard numbers anymore, it should be on several other factors that companies are seemingly forgetting about. These things include:

1. Keeping Your Competition Out of the Media

By having your company stay in the spotlight, you’re taking a spot that they could have used to their advantage.

2. Make Sure Your PR Team is Forming Valuable Relationships.

The “relations” part of a PR is incredibly important. What Pozin is saying in this article is to make sure that your PR team is forming lasting relationships with the media, not just short-lived ones.

3. Make Sure Your Team is Building Your Brand.

It is so easy to fall victim to allowing the public to create your brand for you. What you, as a PR professional, need to do is make sure that you are being proactive in the way that you create your brand. YOU tell the public what your brand is, not the other way around.

4. Make Sure You’re Reaching Your Target Market.

With today’s new technology and tools, it’s easier than ever to pinpoint your target market. Make sure to use those tools and not let them go to waste. “Your PR firm knows which publications your ideal customer reads, what they’re saying on social media, who the big digital stars are, which celebrities your market is obsessed with, and how to gain market share with your target audience,” (2014).

5. Do You Have the Right Endorsements?

According to a survey done by Nielson of over 28,000 Internet users, 92 percent of consumers say that they trust recommendations from friends or family, above all other forms of advertising (2012). And with today’s social media, it is easier than ever to know what places, products, and services your friends and family recommend.

In addition to following friends and family on social media, the accessibility to know what a celebrity endorses is worth just as much as a friend or family member. According to Ad Age, hundreds of endorsements show that sales for some brands have increased up to 20% after beginning an endorsement deal with a celebrity, (2010).

If you’re a PR firm and you’re not tapping into that resource, you’re making a big mistake.

At the end of the day, Public Relations isn’t just all about the numbers anymore. While it is certainly important, if you only count the numbers, you’re overlooking several other avenues of success. By making sure your competition stays out of the spotlight, you are forming lasting relationships with other media outlets, and consistently trying to build your brand, you’ll guarantee that your return on investment will be worth more than just money.

 

(2012, April 10). Consumer Trust in Online, Social, and Mobile Advertising Grows. Nielson Global trust in Advertising. Retrieved from http://www.nielsen.com/us/en/insights/news/2012/consumer-trust-in-online-social-and-mobile-advertising-grows.html

Crutchfield, D. (2010, September 22). Celebrity Endorsements Still Push Product. Ad Age. Retrieved from http://adage.com/article/cmo-strategy/marketing-celebrity-endorsements-push-product/146023/

Pozin, I. (2014, May 5). 5 Measurements for ROI. Forbes Magazine. Retrieved from http://www.forbes.com/sites/ilyapozin/2014/05/29/5-measurements-for-pr-roi/

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: