How do you measure Public Relations impact on your budget?

1 Set SMART goals

Before you start measuring your PR impact, you need to define what success looks like for your organization. You need to set SMART goals that are specific, measurable, achievable, relevant, and time-bound. For example, you might want to increase your media coverage by 20% in the next quarter, or generate 50 new leads from a PR campaign, or improve your customer satisfaction score by 10 points in the next six months. Your goals should align with your overall business objectives and reflect the value that PR brings to your organization.

2 Choose relevant metrics

Once you have your SMART goals, you need to choose the metrics that will help you track and measure your PR impact. There are different types of metrics that can capture different aspects of PR, such as output, outcome, and outtake. Output metrics measure the quantity and quality of your PR activities, such as the number of press releases, media mentions, or social media posts. Outcome metrics measure the effects of your PR activities on your target audiences, such as the level of awareness, engagement, or sentiment. Outtake metrics measure the actions or behaviors that result from your PR activities, such as the number of leads, conversions, or referrals.

3 Use reliable tools

To collect and analyze your PR metrics, you need to use reliable tools that can help you gather and interpret the data. There are various tools that can help you with different aspects of PR measurement, such as media monitoring, social media analytics, web analytics, surveys, or focus groups. Some of the tools are free or low-cost, such as Google Analytics, Google Alerts, or SurveyMonkey. Others are more specialized and require a subscription or a fee, such as Cision, Meltwater, or Brandwatch. You need to choose the tools that suit your needs, budget, and goals.

4 Compare and benchmark

To understand the impact of your PR on your budget, you need to compare and benchmark your results against your goals, your past performance, or your competitors. You need to establish a baseline that shows where you started and how far you have come. You also need to identify the gaps and opportunities that can help you improve your PR strategy and tactics. You can use tools such as SWOT analysis, PEST analysis, or Porter's five forces to assess your strengths, weaknesses, opportunities, and threats in the PR landscape.

5 Communicate and report

The final step in measuring your PR impact is to communicate and report your findings and recommendations to your stakeholders. You need to create a clear and concise report that shows how your PR activities contributed to your budget and your business goals. You need to highlight the key metrics, insights, and stories that demonstrate your PR value and impact. You also need to provide actionable suggestions on how to optimize your PR efforts and allocate your resources more effectively. You can use tools such as PowerPoint, Excel, or Infographics to present your report in a visually appealing and engaging way.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?