When we think about the term “Return on investment” (ROI) what comes to mind is a detailed spreadsheet with every dime and nickel accounted for. In PR, things can look a bit different. Measuring ROI on a strategy that can take months to show results can be difficult, but definitely not impossible.
First, we need to talk about what ROI looks like in PR.
The first form a return on investment can look like in a public relations campaign is what we would traditionally define as ROI, cold hard cash. This includes any revenue increase or money made as a direct result of a PR strategy. Such as an increase in subscriptions to your service after a persuasive email blast.
The second takes the form of earned media. Earned media can heighten an organization’s credibility and reputation, which can contribute to sales increases, partnerships, social media following, or other monetary gains. Earned media can look like a segment on your local morning show or even an appearance on a popular podcast. Earned media ROI is harder to measure but it should NOT be underestimated,
Now that we know what it looks like, let’s talk about how to measure it.
We’ve already established that a traditional budget sheet isn’t going to cut it so what other Key Performance Indicators (KPIs) do we need to look at? The way you define success or in other words, which KPIs you track, are largely dependent on the goal you have for your campaign.
Check out our blog on creating SMART goals for your campaign if you have any questions. With strong goals, it will be much easier to identify which KPIs you will need to track. A few examples of some metrics you can use to measure your campaign ROI include:
Page Impressions/views – Every time a page on your site appears or is clicked on in an Ad or a search engine results page(SERP).
Social Media Likes/Shares – The number of interactions your post has received.
Goal Conversions – The number of measurable goals your team completed.
Online Reviews – Positive reviews increase credibility and are valuable to the younger online generation.
Lead Generation – Create traceable links and monitor the effectiveness of your owned media’s call to action.
Share of Voice – It’s important to know how much coverage your organization is receiving in comparison to your competitors. Tracking SOV can give you insight on how to better reach and build your intended audience.
Numbers don’t lie, that’s why it is so important to have clear and measurable goals for your campaigns. Measuring ROI in PR can seem impossible but let your goals and purpose lead you to the right answers. If you ever need a fresh eye or a guiding hand Sammis|Ochoa is always here to help. Schedule a free consultation today at https://www.sammisochoa.com/contact/ and we’ll get you going on the right path.
By: Jocelyn Sandoval
Sammis|Ochoa is San Antonio’s fastest-growing public relations and digital marketing agency. It is the 2020 recipient of the TinyAward for Happiest Employees in Public Relations. It also ranks as one of San Antonio’s best PR firms by Design Rush. The firm is headquartered in San Antonio and serves clients in Austin, Houston and San Antonio. Email firstname.lastname@example.org or call 210.390.4284 to amp up your PR game!