For the last couple of decades, the practice of marketing has undergone a profound shift. Modern marketers rely on technology and data to inform decision making. In fact, according to PR week, 80% of marketers are using data to drive decision making. If you are responsible for demand generation, marketing communications, or website optimization you can directly tie your efforts to measurable impact on the bottom-line. When an organization assesses the value of marketing, they can easily find an answer in the math thanks to digital analytics.
PR Analytics are Behind the Measurement Curve
PR is something of a different story. Until recently, similar “hard” measurements of PR’s impact to the business have been difficult to come by. To fill the need for some kind of metric, we’ve resorted to old fashioned, activity based proof of worth like counting up mentions, clipping articles and calculating advertising value equivalency (AVE). We report on the number of media pitches, interviews, and press releases. All of which prove that we’re busy, but none of which proves we are impacting the business.
Finding the Right Things to Measure is a Challenge
Marketers have a strong framework for measurement and justifying continued investment, so why shouldn’t PR pros? We think they should, yet in a survey we conducted 56% of respondents said their biggest challenge was tracking the right metrics.
Given the general lack of advanced PR analytics and only intangible proof of success, it is no wonder that some executives view PR as “squishy” and of questionable value. As marketing expert Seth Godin pointed out, “Measurement is fabulous. Unless you’re busy measuring what’s easy to measure as opposed to what’s important.”
Consider your own organization. How many of your PR decisions could be considered data-driven? If you are in the majority, the answer is very few.
Introducing the Communicator's Funnel
We’d like to help. We’ve developed a framework called the Communicator’s Funnel. It provides the structure to move from activity-based measurement to outcome-based measurement. It is available for free in our new eBook.
There’s nothing soft or generic about this approach. In this eBook we get into the tangible, action-based metrics and the data that drive them. Armed with this information, you’ll be better prepared to argue for an increased PR budget, back up spending decisions, and craft a PR strategy that propels the brand forward.
By the time you finish this eBook, you’ll have a different point of view and hopefully gain confidence that you can deliver a new way to look at the impact of PR.
Of course, we believe that using TrendKite's PR analytics software makes PR measurement and reporting much easier, more accurate, and more complete than any other approach. However, our Communicator’s Funnel will provide value even if you never become a TrendKite customer. Get yours now.