08 May Yes, PR Can Be Monetized
It’s a question most don’t dare to ask: Can you monetize public relations?
I believe you can. That’s where all PR measurement systems I’ve seen fail. The question can’t be answered because it’s not really asked. PR measurement systems can involve dozens of metrics, most valid on their own. Yet, if I’m the CEO, COO, or CMO of a company, I’m looking at budgets and bottom line results. That’s why, when the economy goes south, PR is one of the first budgets to get cut. The C Suite doesn’t see the bottom line value.
Bottom line measurement is only possible when PR is fully integrated with sales and marketing and social media. The smart people at AMEC stress this as well. Perhaps that’s the common message. Top-line “vanity” measurement is nice until it becomes a commodity, which it is, if you can afford it. Scratch deeper and you can find quantifiable outcomes to your PR program.
Financial public relations is the perfect sector to prove this. Financial companies, by their nature, produce a steady stream of market commentary, portfolio analysis, economic outlooks, etc. If properly packaged, distributed, and tracked, each piece of intelligence becomes a digital asset that can generate quality leads and sales.
It’s time to upend the notion of what real public relations measurement is. Start at the bottom – leads and sales – and work your way up with media relations, content marketing, and organic SEO activities to support the ultimate outcome. Then you can prove ROI.
See the full article in LinkedIn.