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Topic: Advertising/PR

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Worth Of Pr PRO Member

Posted by hans on 250 Points
Hi,
Anyone that knows of any method measuring the worth of what is written and shown in media for a brand, city, person or alike and that isn't bought space.
How does one measure the worth for social media?

And how to define worth except putting a figure in money on how much space one has got for "free".

Best regards
Hans

  • Posted by CarolBlaha on Accepted
    This is an interesting and very simplistic formula. If you are mentioned in x magazine, what would it cost for you to pay for exact same same in same mag? http://www.marketing-metrics-made-simple.com/advertising-value-equivalency..... Whilie searching for you, I found this site, that whiile doesn't create a formula as simple as above, has a wealth of info that I spent a lot of time purusing. http://www.prsa.org/Intelligence/BusinessCase/Communicating_Public_Relation.... Some of these sources cite there is basically "no statistically significant difference between advertising and editorial in an experiment focused on key measures of credibility, knowledge, and interest and purchase intent." Except of course to the person buying the ad space...

    Thanks for posting that, it gave me a chance to learn something!
  • Posted by mgoodman on Accepted
    Like so many things, it's worth whatever someone is willing to pay.

    Some mentions are worth more than others. If someone complains about your service, and it shows up online or in print, it's not worth as much as a compliment or favorable review. If something repeats or characterizes your benefit positioning, it's probably worth more than if someone just includes you in a list of companies or brands they like. Etc.

    Good, compelling copy is always worth more than lousy copy ... whether it's in paid advertising or publicity releases.

    So what PR is worth can vary all over the lot. In the end, it's worth whatever someone is willing to pay for it.
  • Posted by hans on Author
    Thanks so far for the appreciated answers I have got. I give it one or two more days before I close this question.

    With regards
    Hans
  • Posted by marketbase on Member
    Also, worth is considered return on investment and differs based on objectives. Did a PR event, mention, etc. deliver the intended response? Did it make the phone ring, increase sales/orders, improve the type, quality, etc. of questions prospects have? See, it's all relative.

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