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Calculating ROI for PR Campaigns – Can It Be Done?

Calculating ROI for PR Campaigns – Can It Be Done?

Public Relations (PR) campaigns can be a powerful way to enhance a brand’s reputation, increase awareness, and drive business growth. However, measuring the success of a PR campaign can be challenging, especially when it comes to calculating the Return on Investment (ROI). In this article, we’ll explore some effective ways to measure ROI on a PR campaign. That said, always remember it’s more “black magic” than traditional marketing.

Define Your Goals and Objectives

Before starting a PR campaign, it’s crucial to establish clear goals and objectives. These goals should be specific, measurable, achievable, relevant, and time-bound (SMART). By defining your goals upfront, you’ll have a clear understanding of what you want to achieve and how to measure success.

For instance, if you’re launching a new product, your PR campaign’s goal might be to increase media coverage, generate leads, and boost sales. On the other hand, if your goal is to build brand awareness, your PR campaign’s objective may be to increase social media engagement, website traffic, and organic search rankings.

Track Media Mentions and Coverage

One of the most common ways to measure the success of a PR campaign is to track media mentions and coverage. This involves monitoring traditional media outlets, such as newspapers, magazines, TV, and radio, as well as online media sources, such as blogs, social media, and news websites.

To track media coverage, you can use media monitoring tools, such as Google Alerts, Mention, or Brand24. These tools allow you to set up alerts for specific keywords, brand mentions, or media outlets. You can also use social media listening tools, such as Hootsuite or Sprout Social, to monitor social media mentions and engagement.

By tracking media coverage, you can measure the reach and impact of your PR campaign. You can calculate the number of media mentions, the tone of the coverage (positive, neutral, or negative), and the sentiment of the coverage (how people feel about your brand). You can also analyze the demographics and psychographics of your media coverage, such as the audience’s age, gender, location, interests, and values.

Calculate Advertising Value Equivalency (AVE)

Another way to measure the ROI of a PR campaign is to calculate the Advertising Value Equivalency (AVE). AVE is an outdated metric that estimates the cost of earned media coverage as if it were paid advertising. AVE is calculated by multiplying the space or time of the media coverage by the advertising rate of the media outlet.

For example, if your brand was mentioned in a full-page ad in a magazine that costs $10,000, and your brand received a full-page editorial mention in the same magazine, the AVE would be $10,000. However, AVE has been widely criticized for its lack of accuracy, as it doesn’t account for the quality or credibility of the media coverage.

Calculate Cost per Impression (CPI)

Cost per Impression (CPI) is another way to measure the ROI of a PR campaign. CPI measures the cost of reaching a single person or potential customer with your message. CPI is calculated by dividing the cost of the PR campaign by the estimated number of impressions (views or exposures) the campaign generated.

For example, if your PR campaign cost $100,000 and generated 1 million impressions, the CPI would be $0.10 per impression. CPI is particularly useful when comparing the cost-effectiveness of different PR campaigns or media channels.

Measure Website Traffic and Conversions

Another way to measure the ROI of a PR campaign is to track website traffic and conversions. By using website analytics tools, such as Google Analytics, you can measure the number of visitors to your website, the sources of the traffic, the pages they visit, and the actions they take on your website (such as filling out a contact form or making a purchase).

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Whether you just need a quick PR-related question answered, an unbiased review of a press release, a sounding board for whether your pitch should be offered to everyone or as an exclusive – PRIME|PR is ready to help.

If you need more – top level strategy on messaging and branding, creative pitch creation and execution to get more ink, or a fully integrated PR and marketing campaign from scratch, PRIME|PR is your agency. Let us show you what we can do.

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Thanks for stopping by, visting the PRIME | PR website, and your interest in working with us.

Whether you just need a quick PR-related question answered, an unbiased review of a press release, a sounding board for whether your pitch should be offered to everyone or as an exclusive – PRIME|PR is ready to help.

If you need more – top level strategy on messaging and branding, creative pitch creation and execution to get more ink, or a fully integrated PR and marketing campaign from scratch, PRIME|PR is your agency. Let us show you what we can do.

At PRIME|PR, we understand that selecting the right public relations partner is crucial for your business. To help you make an informed decision, we’ve compiled a list of frequently asked questions tailored to the overall industry and specifically to our agency.

Answer:  At PRIME|PR, we have extensive experience in technology and B2B industries, successfully representing a diverse range of clients from start-ups to Fortune 100 companies. Our team of experts stays up-to-date on industry trends, ensuring we have the necessary knowledge and expertise to effectively represent your company. Our founder, Nicolia Wiles, was a Gartner analyst before starting PRIME|PR and has some of the best tech expertise f any PR professional today.

Answer: This is one of the most important questions to ask any PR firm. Unlike other firms that have different bills rates for staff according to title/position, we use a single bill rate of $150/hour for everyone that works on your account – but one of the biggest differences for our firm is that we have no junior staff, so you always work with someone with at least 15 years experience (which is typically $400+/hour at other firms).

Answer: This is one of the most important questions to ask any PR firm. Unlike other firms that have different bills rates for staff according to title/position, we use a single bill rate of $150/hour for everyone that works on your account – but one of the biggest differences for our firm is that we have no junior staff, so you always work with someone with at least 15 years experience (which is typically $400+/hour at other firms).

Answer: In almost every client engagement, we start with foundational messaging to ensure you are telling the right story to the right people. We’ll then update all marketing material (including your website) and create a 12-month Communication Plan that we’ll use as a tool to make sure we are building your brand in the most effective way possible. We’ll then create individualized monthly plans that we’ll use to prioritize activity together – this also ensure that everyone from the CEO down knows exactly what is happening, what to expect and how to judge success each month.

Answer: Absolutely! We are proud of our track record and are happy to share case studies and examples of successful campaigns we’ve executed. Our portfolio showcases our strategic approach to public relations and demonstrates our ability to deliver results. Our Case Study page provides some immediate examples.

Answer: We measure success by assessing various data metrics, such as media coverage, audience reach, and impact on brand reputation. We work closely with our clients to set realistic expectations and strategic KPIs custom to their individual pain points and goals. We use multiple software packages to track everything from media engagement to sales.

Answer: Our strong media network is one of our core strengths. We have established relationships with key journalists, influencers, and other relevant media contacts, enabling us to secure valuable coverage for our clients. Prior to starting PRIME|PR, Nicolia Wiles was an analyst at Gartner and created strong relationships with media that contacted him for intel, making him a true resource with media.

Answer: PRIME|PR offers a wide range of services, including media relations, social media management, and event planning. We are committed to customizing our services to meet your company’s unique needs and requirements.

Answer: We value open and transparent communication with our clients. Our preferred methods of communication include regular email updates, phone calls, and in-person or Zoom meetings. We are always available to handle urgent situations any time of day.

Answer: We are happy to provide client references upon request. Our clients can attest to our professionalism, working style, and the results we deliver. We believe their testimonials offer valuable insights into our performance as a PR partner. Immediate testimonials can be seen at our GMB page.

Answer:  Our team at PRIME|PR is committed to seamless integration with your existing marketing and communications efforts. We develop strategies for collaboration and coordination, ensuring a cohesive and effective approach to achieving your goals. We work best with a client when we have an integrated team approach where we are part of the team vs a PR vendor. We are often brought on as interim CMO and marketing departments for companies that have not yet expanded those roles.