A better way to measure the value of earned media
Earned media is perfectly positioned to solve the critical problems senior marketers face.
It generates qualified prospects, identifies potential customers and engages them at the right place and time.
By rights, comms should play a far more prominent role in the marketing mix. The reason it doesn’t can be summed up in just three words: lack of measurement.
At Cision, we recognise that you need to know where earned media works best in order to achieve the best results. Marketing executives want to know their investments are achieving tangible business goals. But old metrics like reach or Advertising Value Equivalent (AVE) simply aren’t up to the job.
As this brand new white paper reveals, technology today is helping communicators measure the performance of their campaigns with a far greater degree of accuracy.
Why communicators need a new way to measure earned media
You’d be hard-pressed to find a marketing director who considers AVE a meaningful metric. So, perhaps it’s not surprising that some major PR organisations are calling for it to be abandoned altogether.
AVE ascribes the same value to both positive and negative media coverage. It doesn’t account for when coverage reaches the wrong audience for your brand. And it does a bad job of measuring the impact of coverage received through social media.
“AVE is a lazy way of persuading marketers schooled in old ad ways that PR counts,” says Robert Phillips, Edelman’s former CEO. “The model of the future must be able to analyse the depth, resonance, importance and influence of the conversation.”
Other common measures like Opportunities to See (OTS) and reach also fall short of this standard. But new innovations are helping communicators assess the impact their campaigns are having on tangible metrics like conversions, lead generation and ROI.
Armed with these insights, not only will you be able to demonstrate the success of your campaigns to senior stakeholders. You’ll also have the tools to optimise them for maximum impact.
Better tools mean better measurement – and better results
We know that marketing executives understand the value of earned media. But it still remains a largely unrealised opportunity for businesses that lack the tools to effectively measure their campaigns.
Press releases, speaking opportunities, case studies, testimonials and social media can all drive lead generation and build customer trust. But different strategies are suitable for different businesses. So communicators need a way to see what works best.
To take full advantage of this opportunity, you need the tools to overcome this challenge. You need something you can use to accurately measure the value of the coverage your campaigns generate.
Ad agencies don’t boast about the number of billboards or TV ad slots they get their clients’ content featured on. So, your comms team shouldn’t hold up the volume of coverage it secures as a measure of its success.
“Getting into a top tier outlet is great. But what does that mean for the business?” asks Chris Lynch, Cision’s CMO. “That’s a question that’s getting asked more and more.”
As you’ll see in our brand new paper, Why it’s time for CMOs to embrace PR and comms, the latest technology can help you answer that question using recognised business metrics. Enter your details into the form below now to claim your copy.
