If it’s not AVEs, then how do we measure PR?
Advertising Value Equivalency (AVE) has long been the industry standard for measuring the impact of public relations, however, this is no longer the case. AVEs are now considered to be irrelevant and are frowned upon by most in the industry. Currently, there is no replacement for AVEs, but why were they so important? AVEs were powerful because they provided a single number that spoke a language the board understood. Currently, there is no other single metric that does this for social or traditional media.
The industry, as a whole, wants to arrive on commonly agreed metrics for the impact of media and PR. The consensus at this past week’s AMEC (International Association for Measurement and Evaluation of Communications) conference is that the PR industry can’t show the value they bring to the organization, but need to. The “faith-based” approach to PR is no longer sufficient. Particularly given the changing media landscape, the overwhelming acceptance of social media as legitimate and powerful channels in the PR mix, and the growing need to demonstrate clear ROI, the industry must work to correlate sales and business performance to PR investment. The most sophisticated retail brands in the world are attempting to solve this problem, but acknowledge the nut has not been cracked yet.
It’s clear that PR goes much further than being a reputation management practice. It is now seen as a lead generation activity and should be at the forefront of sales activity.
About AMEC’s 4th Annual European Summit on Measurement
The 4th Annual European Summit on Measurement was a three-day conference, held in Dublin that examined a variety of issues currently facing PR and communications measurement professionals. Delegates heard from a variety of industry experts on a variety of topics including:
- The 7 Barcelona Principles for PR Measurement
- Holistic and integrated measurement
- Importance of benchmarking
A full summary of the event will be available by e-mailing firstname.lastname@example.org powered by Disqus