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Analyzing Competitive Ad vs PR Spending
| Guest post by: Jesse Hopps |
Article Overview: Measuring the effectiveness of your PR process is not a simple task, especially if you don't have the budget for PR-coverage subscriptions. Just as challenging is demonstrating that your organization is better than the competition with leveraging PR to save on ad spending. Read our Ad/PR Spending Guide to start tracking your media coverage and benchmark your ad/PR-spending ratio against your competitors.
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Analyzing Competitive Ad vs PR Spending
Analyzing
Competitive Ad vs PR Spending
Measuring the effectiveness of your PR process is not a
simple task, especially if you don’t have the budget for PR-coverage
subscriptions. Just as challenging is demonstrating that your organization is
better than the competition with leveraging PR to save on ad spending.
Following is real-world method to handle these chores. Use Demand Metric’s Competitive Ad vs. PR Analysis Tool to start tracking your media coverage and benchmark your
ad/PR-spending ratio against your competitors.
Benefits of
Analyzing Competitive Ad vs. PR Spending:
·
Competitive Insight- tracking ad
placements and PR coverage provides a framework for discovering ad spending
benchmarks within your competitive environment, and allows you to examine how
PR is being leveraged. You may discover that one competitor is heavily pushing
a certain message, or that another is deploying a pull strategy based on
product-feature benefits.
· Save Money– organizations that effectively use public relations can save volumes of money that would otherwise be spent on advertisements.
· Better Leverage Public Relations– by determining how your competitors are leveraging public relations in their media mix, you can learn how to become more proficient in this area of demand generation.
· Measure Ad/PR Effectiveness- the first step in measuring a marketing program is to document the activities that are involved. Proactively monitoring your most important industry publications will provide a basis for tracking leads and sales that results from advertisements and press releases.
· Save Money– organizations that effectively use public relations can save volumes of money that would otherwise be spent on advertisements.
· Better Leverage Public Relations– by determining how your competitors are leveraging public relations in their media mix, you can learn how to become more proficient in this area of demand generation.
· Measure Ad/PR Effectiveness- the first step in measuring a marketing program is to document the activities that are involved. Proactively monitoring your most important industry publications will provide a basis for tracking leads and sales that results from advertisements and press releases.
Action Plan:
1. Assess Value- consider the
value that a focused advertising/PR tracking initiative would provide your
organization. If you are being asked to conduct competitive analysis, this is
one section not to be missed.
2. Assign a Task Leader– it will become someone’s job to flip through each trade publication upon delivery to identify which competitors are placing ads or generating solid PR. Try to leverage an inexpensive resource for this task.
3. Customize a Reporting Tool– use our downloadable Competitive Ad vs. PR Analysis Tool to kick-start this process internally.
2. Assign a Task Leader– it will become someone’s job to flip through each trade publication upon delivery to identify which competitors are placing ads or generating solid PR. Try to leverage an inexpensive resource for this task.
3. Customize a Reporting Tool– use our downloadable Competitive Ad vs. PR Analysis Tool to kick-start this process internally.
Benefits of Analyzing Competitive Ad vs. PR Spending:
·
Competitive Insight- tracking ad
placements and PR coverage provides a framework for discovering ad spending
benchmarks within your competitive environment, and allows you to examine how
PR is being leveraged. You may discover that one competitor is heavily pushing
a certain message, or that another is deploying a pull strategy based on
product-feature benefits.
· Save Money– organizations that effectively use public relations can save volumes of money that would otherwise be spent on advertisements.
· Better Leverage Public Relations– by determining how your competitors are leveraging public relations in their media mix, you can learn how to become more proficient in this area of demand generation.
· Measure Ad/PR Effectiveness- the first step in measuring a marketing program is to document the activities that are involved. Proactively monitoring your most important industry publications will provide a basis for tracking leads and sales that result from advertisements and press releases.
Action Plan:
· Save Money– organizations that effectively use public relations can save volumes of money that would otherwise be spent on advertisements.
· Better Leverage Public Relations– by determining how your competitors are leveraging public relations in their media mix, you can learn how to become more proficient in this area of demand generation.
· Measure Ad/PR Effectiveness- the first step in measuring a marketing program is to document the activities that are involved. Proactively monitoring your most important industry publications will provide a basis for tracking leads and sales that result from advertisements and press releases.
1. Assess Value- consider the
value that a focused advertising/PR tracking initiative would provide your
organization. If you are being asked to conduct competitive analysis, this is
one section not to be missed.
2. Assign a Task Leader– it will become someone’s job to flip through each trade publication upon delivery to identify which competitors are placing ads or generating solid PR. Try to leverage an inexpensive resource for this task.
3. Customize a Reporting Tool– use our downloadable Competitive Ad vs. PR Analysis Tool to kick-start this process internally.
2. Assign a Task Leader– it will become someone’s job to flip through each trade publication upon delivery to identify which competitors are placing ads or generating solid PR. Try to leverage an inexpensive resource for this task.
3. Customize a Reporting Tool– use our downloadable Competitive Ad vs. PR Analysis Tool to kick-start this process internally.
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Article Tags: benchmark, budget, media coverage, subscriptions
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Related Forum Posts
Re: Testing and Tracking Online Marketing Strategies
- Hi Jeff,
Thanks for posting this.
Analyzing is no problem and I do use Google and statcounter for this.
I think I fail in the testing step.
How do you test. Let's take TEs for example,
.- When you promote a squeeze page, I can track the sign ups, but how long do you put it there?
- I admit, sometimes I forget a page, and it take a few months before I replace it, how many clicks is a good performance?
- Do you use the same page (different code) on several TEs or different pages at the same time?
More of this to come...
Re: Fill in the blank: The biggest thing I waste my time on is:
- I thought of online games as a way to relax a bit or to get a break from writing. I used to play RPG too like Ragnarok and I'll admit that sometimes I do like to try the RPGs on facebook whenever i see my nephews and nieces playing them. But I know that once I get started, i would be addicted, so better not even Try.
David is right! Spending time on internet marketing is far more productive and can be fun too!
[quote="Mal Tindle":14m5rb9v]Hi members,
Like Rachel, my biggest waste of time was when I was invited to be a neighbour for a friend on Farmville (or was it Farmtown, not sure). Being quite competitive I found myself spending time on that which I thought was a harmless diversion at the time.
I came back to my senses after a while and got back to Internet Marketing.
Mal.[/quote:14m5rb9v]
Re: E-Commerce Spending Down?
- Spending might be down, but there's still plenty of spending being done. Only a 2% decrease is hardly anything to worry about.
As Kevin pointed out, I've noticed eBay sellers offering free shipping, but increasing the starting cost or Buy It Now price. So, in reality you're still paying for the shipping.
I'm one who likes to buy online, mainly because it's a lot easier and I don't have to deal with the mad rush at malls and shopping centers. I'll shop around for the best price online, mainly looking at eBay or Amazon.
However, if I happen to get into a crunch, then I'll just suck it up and go to the store and pay full price. Sometimes you just have to, but I try to avoid that situation.
As Kevin also mentioned about shipping prices on eBay, I, too, have noticed that some sellers really inflate the price, even for US shipping. I avoid those sellers unless I can still get it cheaper through them than someone else, but most of the time you won't. It doesn't make any sense, and I would hate being out of the country and getting completely ripped off.
Re: True Characteristics of an Entrepreneur
- [quote="BuzzAroundBooks":sl9904z9]
I think there are a lot of quizzes out there which people can take to evaluate themselves, but the problem is that people generally don't objectively answer the questions.
And if you take a college course on entrepreneurship, you really won't know if you're cut out for that lifestyle change until you're actually doing it. In class, writing up a full business/marketing plan and presenting it to your classmates doesn't mean anything (or prove that you got what it takes to succeed at running your own small business). For instance, in an eMarketing class I took, the instructor gave me an "A+" on my business plan, but when I asked for additional feedback when the course was over... he gave me his "real" thoughts and said the idea would never "swim" in reality.[/quote:sl9904z9]
Very true - a brutally honest answer to the questions is necessary to get a real answer.
I've known plenty of people who could pass a test on a topic, but that did not mean they could implement the things they learned.
Did he give you any reasons why it wouldn't work? What I'm thinking is - what information in the business plan should have revealed it wasn't feasible? If that element wasn't in the business plan - it should be added. Analyzing the plan, the location, the target market, market research, needed expertise, people to fill those needs, financial projections and needs and so on should reveal problem areas in a plan.
Shri
Global Ad Agency Seeks Senior Sales Account Executive
- Global Ad Agency -- We are seeking experienced advertising Senior Sales Account Executives to join our growing sales force in New York office.
ICMediaDirect.com, Inc is a Full Service Online Advertising Agency driven by a united goal to provide both online as well as offline advertisers with easy and affordable ways to plan and buy media online. We are proud to present an impressive roster of over 300 satisfied clients and a wide reach of billions of visitors each month. With two great locations - N.Y. and D.C. - we know how to PLAN your media, how to BUY your media, how to TRACK your media and how to CAPITALIZE your media.
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