In Waves PR, I have learnt how to calculate media valueAdvertising is measured according to rates set by publishers. For Public Relations, however, measurement varies according to advertising rates, position, the use of visuals, the value of the headline, and the strength of the published article. The measurement of PR-initiated stories is a critical requirement for demonstrating the impact of public relations in meeting the corporate objectives and management of the Client’s most important asset – its reputation.
We use two methods to evaluate PR effectiveness:
“PR Value Equivalency” is the definition of how much the company would have had to spend in advertising to get the basic brand message across.
AD VALUE = [Height (cm) x Width (column) x ad rate] + 5% Service Tax
PUBLIC RELATIONS (PR) VALUE = Ad Value x 3
an additional 40% if your article title has the company name. this was quite interesting played around with number for a while. Who said a PR consultant cant do math? At the same time it opened my eyes to the value on PR.
1 comment:
Hi Lone,
Thank you for your interesting sharing on how to calculate media/PR value. This was something that I have always pondered upon.
From your formula, you mentioned that PR value= Ad value x 3. Does this also lead to mean that PR articles will be averaged to be 3 times more trusted as compared to an ad?
I guess we may also need to calculate on the component of the number of people the article is able to reach out to.
Some other aspects might also include on the word of mouth that people generate about the brand.
It seems like it could be a very complicated formula that we hope Einstein could help us with!
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