What is the true value of media relations? Brands often wrestle with this question as they consider the level of outreach they want to pursue, or whether they should incorporate it into marketing budgets at all. These strategy conversations become even more complex as we consider the shrinking presence of online, print, and broadcast media. Gone are the days of dozens of local publications and outlets brimming with breaking news and riveting local stories. Today, editorial staff have continued to shrink while ad space dependence grows.
So when the idea of earning organic coverage occurs in an increasingly paid coverage world, we aren’t surprised when clients ask this question. And though our response may not be surprising as a media relations agency, we still believe media relations efforts can yield unrealized benefits in terms of credibility, trust, and brand storytelling. Come along as we take you behind the curtain of the true value of publicity.
Learning the Lingo
Certain marketing metrics have become second nature. You’re probably familiar with reviewing monthly analytics reports that share figures like reach, impressions, click-through rates, engagement, and more. These metrics tell an important story about the overall effectiveness of your marketing, both through organic and paid means.
And while many of these terms have become part of a shared language among business owners and marketing managers alike, media relations agencies know their set of vocabulary is not so common. This information gap contributes to an overall hesitancy to embrace media relations tools on a consistent basis, which is why we’re bridging the disconnect with a quick lesson in the need-to-know media relations lingo.
The first term to unpack is publicity value. This metric attributes a monetary value to your earned media coverage. It answers the question of “what would this content cost to produce and place in the same publication as a paid advertisement?”
A media relations agency can calculate publicity value by finding the ad equivalent cost measured by the print or broadcast space used. Then, given organic editorial coverage carries higher credibility and trust among consumers than paid promotional space, a multiplier is applied to these figures based on the reach and reputation of the media outlet.
Another important (and more straightforward) term is the number of mentions. A mention pertains to any article, interview, broadcast, or reference related to your brand or recent announcement. As earned media campaigns unfold, a media relations agency will capture mentions in realtime, sorting them by media type (TV, online and print, radio, podcasts, and more) and timelines. These days, software programs like Critical Mention assist agencies like ours in capturing content as it publishes for accurate results and an impactful analysis.
Along with the total number of mentions, it is equally fundamental to calculate the number of people who may have seen or interacted with the content. We call this metric audience reach. The total number is estimated through a media outlet’s total circulation, viewership, follower base, or web traffic. Audience reveals the amplifying effects each mention brings to a media relations campaign by bringing perspective to the sheer number of people who directly encountered your brand.
Sentiment tracking is another meaningful tool within a media relations agency’s toolbelt. Like it sounds, this metric involves attributing a positive, negative, or neutral emotion to a mention based on its attitude toward the brand. A discerning media relations agency can conduct this analysis through a manual review of coverage as well as through platforms like the one mentioned earlier.
Together – publicity value, number of mentions, audience reach, and sentiment tracking – these KPIs tell the story behind every media relations strategy. Like typical digital marketing initiatives, the relevance of particular figures over others depends on your brand’s objectives, whether it’s brand awareness, public perception, or audience engagement. Though every media relations strategy will pursue different objectives, these KPIs attribute a tangible value behind pursuing earned coverage, which has historically felt intangible for many brands.
A Media Relations Agency Where the Proof is in the Pudding
Now that we’ve unearthed the metrics and vocabulary, it’s time to consider how PR professionals and brands devise a media relations strategy for the best results. The first step begins with ideating newsworthy angles and conveying their importance in relation to your key audiences. Whether shared as a news release across a newswire or a standalone pitch sent directly to an editor’s inbox, some of the most common topics include grand openings, new product launches, strategic partnerships, and community outreach updates.
We discussed the topic of content creation in one of our more recent articles, “Writing Content for Differentiated Marketing Strategies.” There, you can learn more about crafting content that speaks to your brand position and conveys the proper value-add to the right audiences.
Once a message and medium are crafted, a media relations agency will develop a media list curated to contacts. PR pros will research the journalists, managing editors, and producers in the relevant beats and outlets that fit the news being shared. For instance, a nonprofit announcing the launch of a new service will look to connect with writers focused on community engagement or nonprofit sectors. Similarly, a major manufacturer may prioritize writers focused on economic development or major trade publications when announcing a strategic partnership with a nearby operation.
With a story and contacts in hand, the next step lies in determining the level of outreach. Navigating the number of touchpoints with media contacts hinges on a couple of factors. A media relations agency will devise an outreach timeline based on your overall objectives and corresponding budget. That may look like targeting the primary local newspaper for a front page article or spending time sending several emails and making multiple phone calls to outlets across an entire region to earn as many mentions as possible. Despite their differences, both approaches can be valuable media relations strategies when properly geared towards a brand’s specific expectations.
With the key components and assets ready, a media relations agency can begin distributing and pitching your brand news to audiences. While the KPIs mentioned above are often tallied at the end, they can also serve as helpful barometers in evaluating the efficacy of an ongoing campaign, providing insights into what might resonate best and whether certain aspects should be tweaked before its completion.
At its core, media relations follow many of the same principles as other effective marketing tactics. It starts with strategy (we highly recommend positioning!), followed by research and content creation before execution and final analysis. By following these easy steps, under the guidance of a well-established positioning strategy, you’ll watch your brand continue to nurture its external relationships.
Ready for a media relations agency to help you make headlines? Contact us today to step behind the curtain of publicity value as you harness the benefits of earned media.