Why We Need a New Way to Measure Earned Media
While those of us in marketing or PR are quick to applaud technologies that allow us to do more, reach more, or earn more, we don’t seem to have the same attitude about updating our measurement tools and processes.
And so we continue to use legacy systems that no longer serve.
Take Advertising Value Equivalency (AVE), for example. Many public relations professionals continue to measure media exposure based on what the equivalent costs in advertising would be. And yet, that’s not a precise measure when it comes to earned media.
Measuring a tweet, a review, or a media mention has stumped many a PR pro, and so we often resorted to the system we knew best. Either that, or we don’t bother measuring results at all because we think doing so will be overly complicated and not worth their time.
This is such an alarming state, and it could have a serious impact on PR and marketing if it’s not rectified. But what’s the solution?
What if, as we reach new heights with how our brands are seen through various media channels, we match that uncharted territory with an updated and more appropriate measurement strategy?