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Measurement: Determining the ROI of digital media relations strategies - PRecious Communications, 07-2013
 

Measurement: Determining the ROI of digital media relations strategies - PRecious Communications, 07-2013

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Setting clear goals on what to measure & aligning measurement to those objectives ...

Setting clear goals on what to measure & aligning measurement to those objectives
Identifying the key tools & metrics in measurement of traditional & new media
Taking a holistic, integrated approach to traditional & new media measurement
Social media ROI: Quantifying your digital PR efforts

Leveraging results to improve decision making for your media relations strategy

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    Measurement: Determining the ROI of digital media relations strategies - PRecious Communications, 07-2013 Measurement: Determining the ROI of digital media relations strategies - PRecious Communications, 07-2013 Presentation Transcript

    • © 2013 by PRecious Communications 1 DETERMINING THE RETURN ON INVESTMENT OF DIGITAL MEDIA RELATIONS STRATEGIES Lars Voedisch Principal Consultant lars@preciouscomms.com@larsv
    • © 2013 by PRecious Communications Social media requires your attention 24/7. The media landscape is fast changing and eroding. Brand perceptions are shifting as you read. Customers are demanding a more human approach to communication. We provide : Communications Strategy | Traditional & Social Media Relations Digital Engagement | Crisis Preparedness & Management Internal Communications | Media Training Analysis, Measurement, Research Where are you? Your Reputation is PRecious
    • © 2013 by PRecious Communications 3 • Setting clear goals on what to measure & aligning measurement to those objectives • Identifying the key tools & metrics in measurement of traditional & new media • Taking a holistic, integrated approach to traditional & new media measurement • Social media ROI: Quantifying your digital PR efforts • Leveraging results to improve decision making for your media relations strategy
    • © 2013 by PRecious Communications 4 Media Measurement – A Monkey Business?
    • © 2013 by PRecious Communications 5
    • © 2013 by PRecious Communications Why measure (social) media coverage? Quick question: Why do you want to measure ?
    • © 2013 by PRecious Communications Why measure media coverage? Reason 1: Demonstrate value of PR (e.g. Outputs) – What key initiatives did you drive? Results? Reason 2: Plan & evaluate communications activities across channels and markets (e.g. Outtakes) – How do you connect to publications & journalists, campaigns; what’s your brand perception? Reason 3: Strategic Communications (e.g. Outcomes) – How do your results relate to the budget allocation? Do you measure KPIs linking PR to business results? What is the value PR adds your organization? Reason 4: Discovering opportunities and threats (Radar) – What’s happening in the industry, with my clients; is there a crisis, are there issues…? 7
    • © 2013 by PRecious Communications Why measure media coverage? Reason 1: Demonstrate value of PR (e.g. Outputs) – What key initiatives did you drive? Results? Reason 2: Plan & evaluate communications activities across channels and markets (e.g. Outtakes) – How do you connect to publications & journalists, campaigns; what’s your brand perception? Reason 3: Strategic Communications (e.g. Outcomes) – How do your results relate to the budget allocation? Do you measure KPIs linking PR to business results? What is the value PR adds your organization? Reason 4: Discovering opportunities and threats (Radar) – What’s happening in the industry, with my clients; is there a crisis, are there issues…? 8 …and hardly anybody admits that many times it’s actually just about: Looking good or Making somebody look good!
    • © 2013 by PRecious Communications • Managing what you measure, identifying the right objectives & setting smart goals Aligning measurement with business objectives Too many communicators work very hard on tactics… …that DON’T support corporate goals! 9
    • © 2013 by PRecious Communications Align Corporate Communications to Achieve Business Goals Source: Align Corporate Communications to Achieve Business Goals, David Meerman Scott, A Dow Jones/Factiva Whitepaper 10
    • © 2013 by PRecious Communications Align Corporate Communications to Achieve Business Goals • Make business GOALS your communications goals, then develop STRATEGIES: Source: Align Corporate Communications to Achieve Business Goals, David Meerman Scott, A Dow Jones/Factiva Whitepaper 11
    • © 2013 by PRecious Communications Align Corporate Communications to Achieve Business Goals • Conduct a gap analysis to understand your benchmarks and to decide what are your priorities • Choose metrics to measure the results Source: Align Corporate Communications to Achieve Business Goals, David Meerman Scott, A Dow Jones/Factiva Whitepaper 12
    • © 2013 by PRecious Communications Align Corporate Communications to Achieve Business Goals • You can’t manage what you don’t measure • What impact do your programs have – what are the results? Source: Align Corporate Communications to Achieve Business Goals, David Meerman Scott, A Dow Jones/Factiva Whitepaper 13
    • © 2013 by PRecious Communications Align Corporate Communications to Achieve Business Goals • Example: Bicycle Manufacturer • The challenge is to measure your success in a meaningful way! Source: Align Corporate Communications to Achieve Business Goals, David Meerman Scott, A Dow Jones/Factiva Whitepaper 14
    • © 2013 by PRecious Communications Align Corporate Communications to Achieve Business Goals • Example: Bicycle Manufacturer 15
    • © 2013 by PRecious Communications Align Corporate Communications to Achieve Business Goals • Example: Bicycle Manufacturer 16
    • © 2013 by PRecious Communications Align Corporate Communications to Achieve Business Goals • Example: Bicycle Manufacturer 17
    • © 2013 by PRecious Communications Align Corporate Communications to Achieve Business Goals • Example: Bicycle Manufacturer 18
    • © 2013 by PRecious Communications Align Corporate Communications to Achieve Business Goals The challenge is to measure your success in a meaningful way! 19
    • © 2013 by PRecious Communications 2020 Simple start: Smart Goal Setting for your (Social) Media Strategy • Goals drive the type of measurements you are going to use • What’s your ultimate objective: 1. Awareness 2. Image / Reputation 3. Sales 4. Cost savings 5. Something else? Source: 25 Must Read Social Media Marketing Tips 20
    • © 2013 by PRecious Communications Turn Output into Positive Outcomes • Outputs – what is generated as a result of a PR program or campaign • Outtakes – what audiences have understood and/or heeded and/or responded to • Outcomes – quantifiable changes in awareness, knowledge, attitude, opinion and behavior levels Source: Using Public Relations Research to Drive Business Results, Institute for Public Relations 21
    • © 2013 by PRecious Communications Too dry, too theoretical, too complicated? 22
    • © 2013 by PRecious Communications Example – FIFA Worldcup Won 6 games Won 5 games 8 goals scored 16 goals scored 7 matches played 7 matches played OUTCOME METRIC has to answer “So what?” OUTTAKE METRIC OUTPUT METRIC ACTIONGOAL 2010 World ChampionWin matchesScore goalsPlay in the final round in South Africa Become the best country WORLD CHAMPION 3rd Place How to translate this to PR? 23
    • © 2013 by PRecious Communications Typical Output, Outtake and Outcome Metrics Source: Using Public Relations Research to Drive Business Results, Institute for Public Relations GOAL ACTION (INPUT) OUTPUT METRIC (VOLUME) OUTTAKE METRIC (CHANGE / CONTEXT) OUTCOME METRIC has to answer “So what?” Sales Leads Place product reviews Initiate speakers program Proactive blogger outreach # meetings # of speaking engagements # of blog mentions # of reviews # of media contacts made # of news releases sent # of Facebook fans AVE % awareness of your brand % considering your brand % preferring your brand Online engagement (e.g. likes or comments / Facebook post) # of requests for information 24
    • © 2013 by PRecious Communications Example DHL: Built our own KPI framework, suiting our requirements, capabilities and resources 25 Case Study: Logistics
    • © 2013 by PRecious Communications Example DHL: Built our own KPI framework, suiting our requirements, capabilities and resources 26 Case Study: Logistics
    • © 2013 by PRecious Communications • Business Goal: – Sell more Palm Centro phones • Communications Objectives: – Introduce lifestyle & non-tech media influencers – Attract fashion phone upgraders – Encourage Palm handheld users to change to a smartphone • Measurement Metrics: – Outputs: • Number of articles • Audience reach – Outtakes: • How favourable is the device viewed by the media • Is the coverage on message – Outcomes: Number of phones sold • Result: – Close to 80 articles; most positive (rest neutral); nearly all on message Palm Centro: Launch of a mobile phone Case Study: Electronics
    • © 2013 by PRecious Communications • Business Goal: – Sell more Palm Centro phones • Communications Objectives: – Introduce lifestyle & non-tech media influencers – Attract fashion phone upgraders – Encourage Palm handheld users to change to a smartphone • Measurement Metrics: – Outputs: • Number of articles • Audience reach – Outtakes: • How favourable is the device viewed by the media • Is the coverage on message – Outcomes: Number of phones sold • Result: – Close to 80 articles; most positive (rest neutral); nearly all on message Palm Centro: Launch of a mobile phone Case Study: Electronics
    • © 2013 by PRecious Communications • Business Goal: – Sell more Palm Centro phones • Communications Objectives: – Introduce lifestyle & non-tech media influencers – Attract fashion phone upgraders – Encourage Palm handheld users to change to a smartphone • Measurement Metrics: – Outputs: • Number of articles • Audience reach – Outtakes: • How favourable is the device viewed by the media • Is the coverage on message – Outcomes: Number of phones sold • Result: – Close to 80 articles; most positive (rest neutral); nearly all on message Palm Centro: Launch of a mobile phone Key Message A Key Message B Key Message C It’s time for a smart decision Easy-to-use – not just ‘another’ computer Increasing personal productivity on the go Choosing the Centro is the ultimate smart decision for fashion phone upgraders who want both style & smart phone functionalities Through it’s intuitive user interface and the combination of touch screen and keyboard, the Centro is the ideal partner for young, energetic and sociable users who want a smart phone to organize their lives and relationships on the go Messaging, email, built-in capabilities to view & edit documents and access to over 20,000 applications, makes the Centro THE customizable mobile companion for dynamic junior- to mid-level professionals to help them managing their busy work and social live Tone Analysis No. of Positives No. of Neutrals No. of Negatives On-Message Analysis 23 3 No. On Message No. Not On Message Case Study: Electronics
    • © 2013 by PRecious Communications Case Study: Politics / Oil & Gas Influencer Network Analysis
    • © 2013 by PRecious Communications Myth: Are you sure you mean ROI? . . . RETURN ON INVESTMENT 31
    • © 2013 by PRecious Communications Myth: Are you sure you mean ROI? . . . RETURN ON ATTENTION 32
    • © 2013 by PRecious Communications Myth: Are you sure you mean ROI? . . . RETURN ON ENGAGEMENT 33
    • © 2013 by PRecious Communications Myth: Are you sure you mean ROI? . . . RETURN ON PARTICIPATION 34
    • © 2013 by PRecious Communications Myth: Are you sure you mean ROI? . . . RETURN ON TRUST 35
    • © 2013 by PRecious Communications Myth: Are you sure you mean ROI? . . . RETURN ON INVOLVEMENT 36
    • © 2013 by PRecious Communications ROI is a business metric, not a media metric ROI = COST OF INVESTMENT (GAIN FROM INVESTMENT - COST OF INVESTMENT) Can you connect your PR investments ($$$ ) with the financial impact, e.g. sales or savings ($$$)? 37
    • © 2013 by PRecious Communications Real ROI requires you to connect investments, activities and financial impact! Source: The Brandbuilder – Basics of Social Media ROI Investments leading to activities $$$ Financial Impact $$$ 38
    • © 2013 by PRecious Communications Myth: Are you sure you mean ROI? . . . RETURN ON INVESTMENT (OUTTAKES) (ACTIVITIES) 39
    • © 2013 by PRecious Communications Typical Output, Outtake and Outcome Metrics for Communications Source: Using Public Relations Research to Drive Business Results, Institute for Public Relations GOAL ACTION (INPUT) OUTPUT METRIC OUTTAKE METRIC OUTCOME METRIC has to answer “So what?” Sales Leads Place product reviews Initiate speakers program Proactive blogger outreach # meetings # of speaking engagements # of blog mentions # of reviews # of media contacts made # of news releases sent % awareness of your brand % considering your brand % preferring your brand # of requests for information If not ROI, what do I do? Build your own KPI framework, suiting your requirements, capabilities and resources 40
    • © 2013 by PRecious Communications Social Media – where to start? 2 things might help: 1)The inequality of the web 2)The concept of target media
    • © 2013 by PRecious Communications 90-9-1 Principle: The Inequality of the Web Source: Jakob Nielsen - Participation Inequality: Encouraging More Users to Contribute 42
    • © 2013 by PRecious Communications Who Are You Listening to – Are You Catching the Long Tail? • How many relevant social media sites are there? • How many should or simply can you monitor or even measure? Source: http://www.longtail.com – Chris Anderson 43
    • © 2013 by PRecious Communications Social Media to be leveraged across a company: Different functions, uses and values… leading to different objectives = different measurements Source: Socialize your organization – Richard Binhammer / Dell 44
    • © 2013 by PRecious Communications 45 Case Study: Sports Drink Look at what you compare: You may need to normalize results!
    • © 2013 by PRecious Communications 46 Look at what you compare: You may need to normalize results!
    • © 2013 by PRecious Communications 47 Learn about channels and topics = learning about relevance and success
    • © 2013 by PRecious Communications 48 Break it down to real topics; apply emotional context
    • © 2013 by PRecious Communications Source: Dow Jones E-book: “Talk to me – 10 tips for translating the PR results into the language of business“. • 60% of companies (PR Week) are measuring PR/ Communications at the request of senior management. – Better start before management asks for it • Use multiple metrics – Show the whole picture through Communications KPIs • Connect the dots between clip counts – trends in coverage and favourability Translating PR results into the language of business
    • © 2013 by PRecious Communications Source: Dow Jones E-book: “Talk to me – 10 tips for translating the PR results into the language of business“. • Set your sights on the competition – show the context • Top executives only need a high-level summary of results “…From an executive’s viewpoint, it can be interpreted as the difference between the PR team being busy and the PR team being indispensable. Indispensable? Use KPIs to show your contribution! 50
    • © 2013 by PRecious Communications Media Measurement: Where to Start Three Keys to Success • Determine what success looks like • Use the right tools with the correct content • Have a plan to turn output into positive outcomes
    • © 2013 by PRecious Communications 52 Key learnings?
    • © 2013 by PRecious Communications Lars Voedisch Communications Strategist lars@preciouscomms.com @larsv 53
    • © 2013 by PRecious Communications About PRecious Communications International Communications Expertise with a Passion for Technology • PRecious Communications is a young and energetic, yet strategic communications and public relations consultancy serving B2C and B2B companies • Our focus is on corporate communications, crisis management, public relations and social media. • It combines a clear business-oriented approach with a focus on measurable results that tie directly into its clients’ overall communications objectives. • The firm is run out of Singapore and serves clients throughout Asia Pacific. • PRecious was officially started in early 2012 by Lars Voedisch, an experienced global communications and business professional with 15 years expertise in growing, managing and defending leading global brands’ reputation across industry sectors. Background & Expertise • Combined work experience: AIESEC, AT&T, Australian Crime Commission, CA Technologies, Chugai, Citi, Coca Cola, DBS, DHL, Dow Jones, EDS, Fidelity, FireEye, Government of Singapore Investment Corporation (GIC), Honda, HP, Huawei, ING, InMobi, JLL, Lend Lease, Lenovo, LG, Macquarie Bank, MEC, Motorola, Naturalis, OpenNet, Palm, Panasonic, Porsche, Procter & Gamble, Sabic, Standard Chartered Bank, Tata Communications, Telstra, TNS, Yahoo!, Yamaha, Venetian Macao, VMware, Zardoze
    • © 2013 by PRecious Communications • Independent, boutique communications consultancy • Based out of Singapore, at home in Asia and Europe • Globally connected via affiliation with About Us… +65 - 9170 2470 larsvoed 3 Church Street #16-06 Samsung Hub Singapore 049483 connect@preciouscomms.com Facebook.com/PReciousComms Twitter.com/PReciousComms 55
    • © 2013 by PRecious Communications PRecious Partners 56 PRecious Communications and our consultants have worked with
    • © 2013 by PRecious Communications Our Analysis Partners: Commetric Global Unique True insights Award winning solutions > Multi-lingual team > Central research hub with local teams > 20 languages on staff > Includes Chinese and Arabic > Patent for analysing and mapping unstructured data (incl Social) > Propriety NLP engine supported by large technology team > Qualitative and Quantitative analysis > Combination of human intelligence with speed and processing power of machines is crucial > Gold for product innovation at Digital Impact Awards > 2012 AMEC award with Verizon > Strategic partners include WPP/H+KS and IBM
    • © 2013 by PRecious Communications  London HQ, with a Command Center in Sofia, Bulgaria  Management team from Dow Jones, Metrica, Cision and others  Analyst-driven, technology enabled methodologies Services:  Influencer Network Analysis (INA)  Media monitoring and alerting  Media analysis, measurement and competitive KPI benchmarking  24/7 social media command center  Advanced data mining/analysis Commetric overview
    • © 2013 by PRecious Communications 59 DETERMINING THE RETURN ON INVESTMENT OF DIGITAL MEDIA RELATIONS STRATEGIES Lars Voedisch Principal Consultant lars@preciouscomms.com@larsv