The number one question public relation firms receive is, what’s the value of the media coverage. Where’s the ROI?
Public Relations is not a tangible item so it can be difficult to see the ROI at first. It takes strategy, a ton of pitching and great relationships with the media to get press coverage. But once that happens, you will see it all come back to you. Here are a few examples.
Last year, we pitched our client to the national media about a new test that he implemented to anyone applying to work for his company. You may have heard of the “Snowflake Test” by Kyle Reyes, CEO of The Silent Partner Marketing. Reyes was tired of receiving applications from entry level candidates asking for the world.
Long story short, Reyes was doing something controversial and it involved millennials and snowflakes – things that the media was and continue to talk about.
As publicists, we knew this had what journalists call “legs.” (major potential). We pitched the story and within minutes had a response from Fox and Friends. The next day we were in a car to New York during a massive snowstorm. Reyes received a two and a half minute segment on the couch with all three anchors, Ainsley Earhardt, Brian Kilmeade and Steve Doocy. During that time his website crashed from so many people going on the site. So when people say that they aren’t watching the news anymore, I beg to differ.
Within a few hours, Reyes had thousands of emails from other business owners in support of what he was doing. He booked 10 new client appointments throughout the country. That was just within 2 hours of his interview. Since then, he has been asked been on the news, other national media outlets have interviewed him and his client base increased significantly.
Now, let’s get to the dollar amount. If you were to buy a television commercial during the number one rated morning news show you are talking about thousands of dollars for a 30-second advertisement. You can’t really do anything with that commercial other than hope that your target audience sees it.
But, if you appear on the news for a 2.5-minute segment, then it is on the national news website along with social media channels and your outreach, that equates to nearly a hundred thousand dollars worth of advertising. In the public’s eye, you are the expert, your company has a great story and your product is a must-have.
Here’s one more example for our numbers readers. For another client, we were able to get a 3 -minute segment on Varney & Co, which is on the Fox Business Network. Within the first hour of the segment, our client saw an increase in sales by $10,000. And that was just in the first hour! They have since been back on the national news and are doing extremely well.
We all know that public relations help build a companies reputation and image, but it also has a significant impact on a companies revenue stream.
If you have an example of how public relations helped build your brand, we would love to hear!