How to measure PR success for award winning results
The outdated nature of Advertising Value Equivalents (AVE) as a measurement for PR success has been discussed and debated for many years.
As industry professionals we have been told time and again that to earn a seat at the boardroom table, and be valued for being there, we must speak the language and deliver results in a way that demonstrates value to organisational outcomes.
For clients delivering results back to management or boards, AVE’s haven’t demonstrated how investment in PR impacts organisational goals or outcomes. In the ever changing PR landscape, there is increasingly more demand for research driven, evidence based practice and proven results.
Change takes time, and if the above isn’t incentive enough to move away from the traditional AVE approach, the Public Relations Institute of Australia have provided an even bigger one.
Cue the PRIA Model for Research, Measurement and Evaluation of Public Relations by Michael Ziviani and Carol Moore.
This model is years in the making and introduces a new standard for Australian PR Practices that builds on the Barcelona Principles.
It provides a structure for measurement and evaluation that is research driven and focuses on setting measurable objectives to provide credible results that demonstrate PR value, ROI and contribution to business results.
There are guidelines for analysing media coverage and social media coverage that rate achievement against qualitative criteria that relate back to the campaign objectives.
One of the major issues with AVE’s is that there is no exact science or standard formula on how they are calculated. Different agencies employ different formulas for calculating ad value and audience numbers vary from provider to provider.
This new model provides a standard across the board. A robust method with no half-baked ad space comparisons or varying multiples applied.
And the real clincher…to be eligible for the Golden Target Awards, you are now required to demonstrate it meets these new standards. There has never been a better time to make the change and say goodbye to AVE’s once and for all.
Written by Amy Sassella-Otley.