How to Boost Return on Investment for PR Services
“When budgets are squeezed, ____________ is the first thing to be cut.”
I’m guessing that 95 percent of my readers can fill in the blank in a second. The answer is communications, including public relations, advertising and the many other pieces of the communications suite of services. Public relations is particularly vulnerable, since historically the measurement of return on investment for public relations services has been fuzzy at best. (These days there are more reliable measures of PR success, but it’s my impression that there is also fairly low awareness of how to measure public relations ROI successfully.)
This blog post is written for you if you’re a C-suite executive at a company where budget cuts are causing scrutiny of PR costs, or if you’re a PR professional (either in-house or agency) who wants to at least hold onto your current budget, if not expand it next year. Here are some tips for how ROI from PR can be measured, as well as ways of increasing ROI.