Measuring the Effectiveness of your Media Strategy
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Measuring the Effectiveness of your Media Strategy

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Do you need to determine the journalists covering specific subject matter to pitch and prepare an executive for an interview? ...

Do you need to determine the journalists covering specific subject matter to pitch and prepare an executive for an interview?

Do you know your Competitive share of voice in the different lines of business?

Are you entering into new segments and markets and want a media pulse?

Dow Jones take on how to get quick answers to these pressing questions.

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Measuring the Effectiveness of your Media Strategy Measuring the Effectiveness of your Media Strategy Presentation Transcript

  • Lars Voedisch Georg AckermannManaging Media Consultant, APAC MediaLab Manager, APACDow Jones and Company Dow Jones and Companylars.voedisch@dowjones.com georg.ackermann@dowjones.com@larsv @derackermann ©2011 Dow Jones & Company
  • Critical Questions for Corporate Communications• Can you track the drivers of your corporate reputation?• How do you benchmark your competitors?• Do you know what your weak PR spots are? Which sectors? Which markets? Media?• Who is talking about you, your industry – and your topics?• What kind of media do you need to track? ©2011 Dow Jones & Company
  • About Dow Jones: Meet the Family ©2011 Dow Jones & Company 3
  • Relevant Information → Actionable Intelligence 30,000+ global sources 17M+ companies Other People’s 35M+ executives Web/Social Content Mainstream 17M+ Websites and blogs Media Media Dow Jones Research 150+ researchers 130,000+ indexes Media/VC/Risk Dow JonesOver 150 years News, 2,000 journalists Commentaryof Indispensable & Analysis 84 bureausContent 18,000+ daily news items ©2011 Dow Jones & Company 4
  • The Situation Power Shift: Customers are getting more demanding! [Brands] have to SURPRISE ME, not only meet my needs, but ANTICIPATE MY NEEDS. By using social media exclusively, I think the company has to ANSWER whenever I have a question, ENLIGHTEN me whenever I complain, and THANK me whenever I compliment them.Source: The Language of Love in Social Media - Firefly Millward Brown ©2011 Dow Jones & Company
  • Challenge within Organizations: Who ‘owns’ Social Media?Source: Blurring Lines, Turf Battles and Tweets: The Real Impact of Integrated Communications on Marketing and PR ©2011 Dow Jones & Company
  • Challenge within Organizations: Who ‘owns’ Social Media? WHO CARES?! • For your stakeholders it doesn‟t matter who drives Social Media in your organization • Each interaction affects your reputation • Hope for the best, prepare for the worst • MUST: Integrate Social Media in your reactive approachSource: Blurring Lines, Turf Battles and Tweets: The Real Impact of Integrated Communications on Marketing and PR ©2011 Dow Jones & Company
  • The PR Perspective:Social or not – it‟s Media Relations?! ©2011 Dow Jones & Company
  • Social Media Relations: Everything Changes!?Everything Changes Nothing Changes• It‟s about two-way • You‟ve to manage conversations relationships• You‟ve to deal with more • So it‟s wires, print, channels broadcast – and social media• We HAVE to listen and understand what‟s said • You already: monitor and about us! analyze your media coverage• What about those negative comments and • Not every negative posts? comment means a crisis• The game get‟s so much • Already forgot faster newswires? Look at trends over time ©2011 Dow Jones & Company
  • How to measure PR success? What do you currently measure ? ©2011 Dow Jones & Company
  • Why measure media coverage? Show Success!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…? ©2011 Dow Jones & Company
  • Simple But Crucial: Be Clear About Your Media Strategy Goals • 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 ©2011 Dow Jones & Company 12
  • Understanding PR Measurement1. Measurement is research – you need dedicated resources.2. PR should link communications and business objectives.3. Measurement must move beyond simple outputs.4. There is no singular industry standard.5. Approaches to measurement are evolutionary. ©2011 Dow Jones & Company
  • Why it‟s time to do away with AVEs andreplace them with Valid Metrics • Advertising Value Equivalencies (AVEs) are a measure of potential COST SAVINGS, not EARNED VALUE • Public Relations is a broad discipline that requires multiple metrics • Measurement should be holistic – and budgeted for • Ultimately, the most valuable metrics are those that can show a business result Source: AMEC/ H&K ©2011 Dow Jones & Company
  • Why it‟s time to do away with AVEs andreplace them with Valid Metrics • Advertising Value Equivalencies (AVEs) are a measure of potential COST SAVINGS, not EARNED VALUE • Public Relations is a broad discipline that requires multiple metrics • Measurement should be holistic – and budgeted for • Ultimately, the most valuable metrics are those that can show a business result Source: AMEC/ H&K ©2011 Dow Jones & Company
  • Why it‟s time to do away with AVEs andreplace them with Valid Metrics Time for some concrete examples…. ©2011 Dow Jones & Company
  • Example Logistics Industry: Customized KPI framework,suiting specific requirements, capabilities and resources ©2011 Dow Jones & Company
  • Example Electronics Industry: Looking at Product Lines, Brands, Geographies North EastCompany Worldwide Americas Europe CIMA Asia Pacific AsiaPanasonic 13% 18% 17% 7% 11% 8%Philips 7% 7% 10% 27% 2% 4%Samsung 26% 17% 16% 40% 30% 39%Sony 54% 58% 57% 27% 56% 49% ©2011 Dow Jones & Company
  • Outcome-based methods analyse…• comparison to (benchmark) • Previous performance (time) • Expected outcomes (plan) • Competitors (share of voice)• credibility and targeted reach of the medium (target media) and/or journalist (key influencers)• tone of the message (favourable, unfavourable, neutral)• prominence or exclusivity (impact)• appearance of key messages, spokespeople (thought leadership) ©2011 Dow Jones & Company
  • Case Study Nuclear Energy after the Fukushima impact A Media Snapshot* 1 March – 15 April 2011 *English Media only ©2011 Dow Jones & Company 20
  • Benchmarking & Tone – Nuclear / “Clean” PowerWith the Fukushimaaccident, the nuclear energydebate is back in themainstream media. Wind,solar and hydropower wereclearly topping the agenda inthe main news outlets.The coverage on theaccident peaked on 15/16March, then declined rapidlyRenewable Energy became a moreprominent topic – but not to theextent of the (negative) nuclearcoverage volumes ©2011 Dow Jones & Company
  • Understanding the Context“Invisible death. Sterilechildren. Cancer with noappeal.” (The Independent)The atomic disaster isspreading fear worldwide.Chernobyl has been asynonym for this and was themost associated topic.No Suprise: The most affected companiesare the manufacturers of nuclear reactors,where the number of negative stories haspassed the two third mark. ©2011 Dow Jones & Company
  • Understanding Your Media Landscape Newswires most reliable original source; Wall Street Journal is the most cited source, mainly due to the intensive coverage of Dow Jones Newswires. Bloomberg Businessweek is also relying greatly on its own wire, while Malaysian newspaper The Star has been a top distributor of Reuters News. There is still a certain positive bias in the list of media with the most favorable coverage in countries where nuclear energy is still on the political agenda. ©2011 Dow Jones & Company 23
  • Issue Management: Focus on food industry topicsFood safety issues are onthe rise in the coverage ofthe Fukushima accident.While the containment of thenuclear meltdown has beendominant immediately afterthe earthquake and tsunami,food safety concerns areslowly appearing on theagenda. ©2011 Dow Jones & Company 24
  • Holistic Measurement = Holistic Management Communications Objectives & Strategy Planning, Execution, Controlling Monitor Analyse Discover Engage research & issues, trends opportunities & & pinpoint promote & strategies for risks in time better the the buzz impact to act influential Originally, measurement was post-mortem analysis. For most environments it has become near-time! ©2011 Dow Jones & Company
  • Example: ResourcesSee the whole picture Monitor Who‟s Listening? Monitor and Track what‟s relevant across media channels / sources! ©2011 Dow Jones & Company 26
  • Meaningful Insights Analyze Who are they talking about?Where do you get most traction? How good is it? ©2011 Dow Jones & Company 27
  • Meaningful Insights Analyze Which sources How is the cover your stories?„temperature‟ changing? What are journalists saying about you? ©2011 Dow Jones & Company 28
  • Discover Opportunities / Threats Discover iPhone “This is not about searching Knowns, this is about uncoveringUnknowns and understanding the context.” ©2011 Dow Jones & Company 29
  • Engage Your Key Influencers Engage What they’re writing about……and how to contact them Journalist contacts and background information is linked to news and analysis Quickly access everything you need to work an angle & make contact ©2011 Dow Jones & Company 30
  • Outlook &Summary ©2011 Dow Jones & Company
  • Future-Proofing Public RelationsWho do YOU want to be? Critical Analytical Skills Gamblers Winners Vanity Strategic BusinessPublishing Orientation Ostriches Bluffers No Analytical Skills ©2011 Dow Jones & Company 32
  • Winners know what success look like: Translating 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 the right approach with the correct content – Show the whole picture through meaningful KPIs• Turn simple outputs into meaningful outcomes: Connect the dots between clip counts –trends in coverage and favourabilitySource: Dow Jones E-book: “Talk to me – 10 tips for translating the PR results into the language of business“. ©2011 Dow Jones & Company
  • Winners know what success look like: Translating 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 the right approach with the correct content – Show the whole picture through meaningful “…From an executive’s viewpoint, it can be KPIs interpreted as the difference between the PR• Turn simple outputs into meaningful outcomes: team being busy andcounts –trends in being Connect the dots between clip the PR team coverage and favourability indispensable.Source: Dow Jones E-book: “Talk to me – 10 tips for translating the PR results into the language of business“. ©2011 Dow Jones & Company
  • Questions? Thank you. Lars Voedisch Managing Media Consultant, APAC Dow Jones and Company lars.voedisch@dowjones.com @larsv ©2011 Dow Jones & Company
  • Lars Voedisch Georg AckermannManaging Media Consultant, APAC MediaLab Manager, APACDow Jones and Company Dow Jones and Companylars.voedisch@dowjones.com georg.ackermann@dowjones.com@larsv @derackermann ©2011 Dow Jones & Company
  • Introducing the Media LabGeorg AckermannMedia Lab Team LeaderSingapore, June 9, 2011 ©2011 Dow Jones & Company
  • Value Drivers... Content Expertise & Services Partner Technology Total enterprise information solutions ©2011 Dow Jones & Company
  • The Experts... Media LabMedia Consultants, Media Analysts, Report Writers “Follow the sun” 25+ languages ©2011 Dow Jones & Company
  • The Content…Premium Content 2,500 newspapers with same-day coverage 5,500 business and industry publications Consumer magazines, Newswires 30,000Influential Web Classified publications World’s most influential sites Editorially selected and classifiedSocial Media TV & Radio Content on 17M+ Blogs, Boards Transcripts Demand Twitter, Facebook and Youtube ©2011 Dow Jones & Company
  • Services… ©2011 Dow Jones & Company
  • ©2011 Dow Jones & Company
  • Tracking Campaigns ©2011 Dow Jones & Company
  • “Ambush” vs. Official SponsorshipNike launches Worldcup startsYoutube campaign ©2011 Dow Jones & Company
  • Media Measurement is not (only) about Search• Most free tools help you with your search efforts – maybe with monitoring• What about analysis and measurement? ©2011 Dow Jones & Company
  • Media Measurement is not (only) about Search• Most free tools help you with your search efforts – maybe with monitoring• What about analysis and measurement? ©2011 Dow Jones & Company
  • Media Measurement is not (only) about Search– Numbers are only approximations (what about duplications?)– Are all sources important?– Relevance vs. dates– Normalization (Coke vs. Coca Cola); want to include other brands (e.g. Sprite)?– Are we getting the correct meaning of “coke” ©2011 Dow Jones & Company
  • Sophisticated filters e.g. keywords exclusions abbreviations synonyms context©2011 Dow Jones & Company
  • Factiva limits queries to 2048 characters Insight allows up to 15,000 characters per concept ©2011 Dow Jones & Company
  • Discovering opportunities ©2011 Dow Jones & Company
  • “fuel cells”Coverage Emerging trend Momentum phase Time ©2011 Dow Jones & Company
  • Media LabSome recent initiatives… ©2011 Dow Jones & Company
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  • ©2011 Dow Jones & Company
  • General Elections 2011 ©2011 Dow Jones & Company
  • General Elections 2011 Election day Nomination day AnnouncementThis election, the opposition and their supporters’ ammunitionhas been social media and the political landscape of Singaporehas been changed forever because of it” (Social Media NZ, May 8). ©2011 Dow Jones & Company 57
  • A new media landscape ©2011 Dow Jones & Company 58
  • Online chatter on the rise…“MM Lee need not ask Aljunied residents to REPENT” (AsiaOne Forum) ©2011 Dow Jones & Company 59
  • Most mentioned politicians… ©2011 Dow Jones & Company 60
  • The international perspective ©2011 Dow Jones & Company 61
  • Questions? Thank you.Lars Voedisch Georg AckermannManaging Media Consultant, APAC MediaLab Manager, APACDow Jones and Company Dow Jones and Companylars.voedisch@dowjones.com georg.ackermann@dowjones.com@larsv @derackermann ©2011 Dow Jones & Company
  • Lars Voedisch Georg AckermannRegional Head – Media Intelligence, APAC MediaLab Manager, APACDow Jones and Company Dow Jones and Companylars.voedisch@dowjones.com georg.ackermann@dowjones.com@larsv @derackermann ©2011 Dow Jones & Company