The Power Of Media Analytics: How To Measure And Maximize PR Campaign ROI
When pitching a product or service, evaluating the role of media is crucial to the success of the campaign. Public relations campaigns are often launched to expand reach, increase awareness or drive engagement with a brand. Since media is where consumers and businesses engage the most, media analysis becomes an essential tool to measure the success of the campaign. Here’s how marketing teams can transform data into actionable insights and measure the return on investment (ROI) of each campaign.
Start with Clear Goals
Every successful campaign begins with a clear understanding of its goals. The objectives you set should be closely aligned with your company’s opportunities and challenges. Common PR goals include:
- Boosting sales conversions through social media
- Expanding the reach of your PR messages
- Raising your company’s share of conversation in the competitive landscape
- Driving more visits to your website from earned media
Make sure the goals are realistic, measurable and attainable. Stretch goals are great for pushing boundaries, but they should still be within reach to avoid unrealistic expectations.
Identify KPIs and Set Benchmarks
Choosing the right key performance indicators (KPIs) will help you track your progress and determine how successful you are in reaching your goals. While some KPIs require qualitative insights, many rely on numbers to provide actionable data. Key KPIs to consider include:
- Media mentions
- Impressions (how many people see your media mentions)
- Engagement levels
- Website traffic
- Lead generation
- Sales conversions
Don’t forget to set benchmarks! These could be based on industry averages or stretch goals that challenge your team to outpace the competition.
Leverage Data Tools for Streamlined Tracking
Tracking the impact of your PR campaign doesn’t have to be a daunting task. With the right tools, data collection and analysis can become much more manageable. These tools help streamline processes such as:
- Tracking social media mentions, impressions and engagement
- Incorporating social listening for audio and video content, not just text and images
- Integrating data across multiple platforms for a comprehensive view
- Providing actionable insights to fuel data-driven marketing decisions
A solid system for media analysis can mean the difference between confusion and clarity when making sense of the data.
Calculate Your ROI
Once you’ve gathered data on your goals and KPIs, it’s time to evaluate the campaign’s ROI. This can be done by calculating the total cost of the campaign and dividing it by the total revenue generated, which gives you a clear percentage. However, ROI isn’t always straightforward—lead generation and increased engagement also play a role in the broader goal of extending your reach.
Real-World Examples of Influencer Marketing Success
Influencer marketing is a powerful tool that, when executed strategically, can lead to significant ROI. Here’s how two brands harnessed the power of influencer partnerships to drive impressive results.
ABN AMRO’s Community-Centered Approach
Another example is ABN AMRO. This global financial services corporation took a unique approach by partnering with macro-influencers to promote their Small Business Saturday initiative. The goal was to drive consumers to local businesses through their mobile wallet app. The influencers shared content supporting small businesses, encouraging their followers to do the same. This strategy not only increased brand visibility but also directly influenced consumer behavior, resulting in a significant uptick in card usage at local businesses. ABN AMRO’s campaign highlighted how influencer marketing can directly impact business outcomes and foster brand loyalty.[SS1]
These case studies showcase the dynamic impact influencer marketing can have across industries. Whether through amplifying brand awareness, driving sales or building community loyalty, a strategic influencer campaign can deliver exceptional returns and reshape a brand’s market position.
Look for Insights and Plan for the Future
Sometimes the most valuable insights often come from analyzing what didn’t work as expected. A post-campaign evaluation should be approached with an open mind, free from confirmation bias. A rigorous post-campaign analysis should:
- Analyze the audience engaging with your campaign versus your target demographic.
- Verify that your PR goals align with the company’s mission and business objectives.
- Continuously monitor campaign data, and pivot strategies for activities that aren’t delivering results.
Investing in these solutions can increase the efficiency of future campaigns and investments.
PR campaigns can be transformative for a business, but maximizing their effectiveness requires thoughtful planning. By setting clear, measurable goals, tracking the right KPIs, utilizing the best tools for data analysis and continuously refining your strategies, you’ll increase the impact and ROI of every PR campaign.
Author bio: David H Lasker is the founder and CEO of News Exposure, a digital content solutions company specializing in media research and monitoring. Lasker has over 25 years of experience in the industry and focuses on TV and radio broadcast monitoring, media intelligence, and PR analysis.