Both digital and traditional PR has become more and more intertwined, and this has only been accelerated by COVID. With so many different channels to reach consumers, and more increased consciousness into budgets spent on marketing activities due to needed cutbacks, determining PR ROI is perhaps more important than ever. In this new episode of #TheStrategySide, we talk to Kate Mercer, Customer Success Manager at Launchmetrics. Having worked at Launchmetrics for over 4 years, improving client-driven experiences, Kate is an expert in the field of customer success. Today, she talks about how to show PR ROI, and why it is so important for brands in fashion, luxury, and beauty. In this episode of #TheStrategySide you will learn:
- How brands and agencies can demonstrate PR ROI in order to showcase their contributions.
- Different ways in which to diversify and tailor PR reports to differentiated audiences, from C-levels to direct communications and departments.
- The importance of data-driven strategies based on unified, comparable metrics.
- The future of PR for fashion, luxury, and beauty brands.
Take a Deeper Dive
In a recent article, PR Week talked about the four different ways in which Covid has changed the PR industry “indefinitely.” One of these was around ROI and the fact that due to budget restrictions, brands are now demanding “greater reporting in the form of tangible returns on their investment.” Whilst this has always been important, and part of any efficient brand strategy, the uncertainty of many industries has just made this need for reporting more important. Going one step further, it is also useful to be able to compare a mention in a top-tier magazine, with an influencer campaign, in order to understand the value of different marketing activities a brand activates. This can help in terms of increasing sales by making smarter decisions, but also in understanding which tactics resonate with a target audience.
Using software technology such as Discover can help with this, as the app applies one unified metric (MIV®) in order to compare the value of mentions across print, online, and social media. You can read more about how MIV® works in this article if you are interested.
Do you want to know more about our solution that can show PR ROI for fashion, luxury, and beauty brands? Click on the banner below. And don’t miss the next episode of #TheStrategySide by following our channel on Spotify or our blog.