THE PRACTITIONER

I was asked recently to analyze a company’s 2009 key performance indicators for its communications program.  Actually, I was asked to review what the company’s PR agency of record had submitted as their analysis of the program. After reviewing the presentation submitted by the agency, their client realized they were still unclear of the effectiveness of the communications strategy because the data was insufficient to aid decision making.  This was not a client of my agency, mind you, but someone unsure of how to measure PR and needed a second opinion.

The PR agency for this company had developed a presentation chock full of numbers — total print clippings, online hits, press releases, etc.  There was even a “Share of Voice” slide, which was nothing more than the total of the numbers over a given time period compared against the nearest two competitors. No conclusions were drawn, and no recommendations were provided. Is this what agencies are passing off as Share of Voice (SOV)?  Where is the “analysis?”

I spoke to a few counterparts and discovered this also was their method for sharing SOV results with clients.  Companies want to see how they are doing compared to competitors in the media (if it’s good), but overall, the Share of Voice analyses presented by these agencies were much ado about nothing.  Nothing, because there isn’t anything useful in seeing simply a comparison of raw numbers of media coverage.

What clients need is our counsel about the effectiveness of their programs, upping the ante on metrics to include tone, message penetration, article ownership, and quality of coverage.  Having insight into this data enables the communications team to dynamically modify elements of the program to obtain a more desirable outcome and match the business goals.  Here are a few suggestions for setting up your SOV analysis to get greater ROI from your communication investment.

1)    Assign values for tone (e.g. 1= positive, 2= neutral, 3= negative) – Was the coverage favorable overall to your company? Did it hold you in a positive light? Did it reach your target audience?

2)    Identify key messages – What are the company’s 2 or 3 core messages and how often are they pervading the media?  If they aren’t being picked up, they aren’t resonating. Or perhaps it’s time to refresh message training with your spokespersons. The point is, you won’t know until you begin tracking it.

3)    Determine your share of discussion – How much is about you vs. your competitor? Maybe your competitor received the larger percentage of coverage in a specific article because they delivered a packaged story to the reporter.

4)    Assign values for the type of coverage – Is it an online posting of a press release, or is it a feature story? Re-postings of news announcements can serve to improve SEO and increase brand awareness, but third-party influencers, such as subject matter experts and analysts, help to establish credibility.

You may not be able to fully realize the impact of SOV on market share – how PR leads to revenue has always been challenging for companies to track.  But companies must understand SOV can have a significant impact on mind share, especially if it is measured appropriately and analyzed frequently to allow for dynamic changes to the communications strategy. And let’s not forget, mind share precedes market share.

Steve is President of Wunderkind Public Relations. He regularly comments on public relations strategy, social media and trends impacting the communications industry. You can follow him on Twitter or connect with him on LinkedIn.