It has been a long day. You’ve spent hours on the phone speaking to a new journalist, explaining what your organization does and its place in the industry, edited a byline for publication in your biggest trade journal, sat in on your CMO’s interview with the Big Local Paper, and circulated the review of your company’s new product to all of the senior executives. You’re just about to leave for the day, happy with your success, when your CEO knocks on the door. Great work, he says, but what does it all mean? Can you quantify it for me?
For those looking to get beyond the clip book, here are five must-have metrics that will get your measurement programs started, whether you’re benchmarking your program or evaluating a single campaign. But beware: they might just get your CEO asking for more.
- Media Share of Voice. This metric allows you to benchmark your media relations programs against those of your key competitors and understand how awareness of your brand stacks up. A bedrock of competitive media performance, it is purely quantitative and is determined by the raw number of article mentions for a competitive set of companies.
- Volume Trend. This measures the frequency of your company’s mentions in the media over time, enabling you to identify whether specific campaigns or announcements had an impact on your organization’s awareness. Also a quantitative measure, it is calculated by measuring the number of mentions on each day over a specified time period (e.g. a month or a quarter).
- Issue Volume Analysis. This metric demonstrates which subjects, issues, products, brands or technologies are driving industry debate and provide a key measure of performance. It can help you test current messaging and positioning strategies, and help determine which trends may influence the market in the future.
- Favorability or Sentiment Analysis. This qualitative metric evaluates the frequency of positive, negative and neutral mentions in the media. It can help you assess the level of interest in your brand or campaign and the believability of messaging points.
- Leading Journalists. This metric ranks the journalists or bloggers who are writing the most frequently about your brand or topic. With it, you can identify both new contacts and focus on those who give you the most press.
Diane Thieke is Marketing Director at Dow Jones.Read Full Post | Make a Comment ( None so far )