AMEC measurement week here in the U.S. may be in our rearview mirror, but the webinar series recaps continue. AMEC North American Co-chair Jeni Lee Chapman was joined by Aron Galonsky, Managing Director of Hotspex US, to talk about bridging the communications gap between PR/communications and marketing—specifically when it comes to ROI (return on investment).
Jeni kicked-off the webinar by sharing some results from a 2015 AMEC study (which included AMEC members from top public relations agencies, measurement firms and corporate communications).
- 74% of the companies experienced stronger revenue in 2015 vs. 2014
- 86% agree that PR consultancies recognize the importance of measurement of analytics (up from 72% in 2014)
- Metrics and tracking systems are in the top 3 priorities according to the Arthur Page Society (comprised of Fortune 500 CCOs)
Any good measurement program begins with conversations—both with management and your marketing counterparts. Jeni and Aron agree that alignment is critical. When this is not the case, it can be difficult to prove that your PR work has increased awareness and engagement—especially when marketing is taking the credit for it (because you are not measuring). Perhaps you don’t have the data you need, or don’t have the budget, or have trouble convincing management of the need (when they just want to see volume of clips).
Five questions to ask when having those conversations, Jeni and Aron recommend:
- What audiences are PR/communications targeting as compared to marketing?
- How are we ensuring quality data is being used—not quantitative data that may or may not have value (such as AVEs, impressions, etc.)
- What are the options for ROI analysis–do you have access to the data you really need?
- Have we double-checked that we have the right input and outcome variables (tied back to the business objectives)?
- What is the analysis plan (how do they plan to look at it)?
Setting objectives and creating your alignment model (with the AMEC integrated evaluation framework) in the right context is crucial. So is having this plan in writing and confirming all interested parties are in agreement.
Aron discussed some of the different ROI modeling from those that are not very complex to those that are highly complex. What you choose all depends on the results of those conversations you’ve had and your subsequent objectives. “If you are not part of the equation, you are not part of the solution, he stated, after explaining key driver analysis, correlation analysis, lift modeling, market mix modeling and more. Jeni remarked, “what gets measured, gets funded—this is what gives you a seat at the table.”
Throughout the webinar, Jeni and Aron shared some examples and case studies that really made these scenarios easier to understand. If you missed the live webinar, it’s available on demand.
One of their compelling closing comments was, “Experimenting is valid and necessary. Just doing what everyone else is doing is not enough. Be bold!”
Please feel free to share your experience(s), thoughts and/or advice here in the comments section. We’d love to hear from you!