measuring the effectiveness of your media strategy
DESCRIPTION
Do you need to determine the journalists covering specific subject matter to pitch and prepare an executive for an interview? Do you know your Competitive share of voice in the different lines of business? Are you entering into new segments and markets and want a media pulse? Dow Jones take on how to get quick answers to these pressing questions.TRANSCRIPT
©2011 Dow Jones & Company
Lars VoedischManaging Media Consultant, APACDow Jones and [email protected] @larsv
Georg AckermannMediaLab Manager, APACDow Jones and [email protected]@derackermann
©2011 Dow Jones & Company
Critical Questions for Corporate Communications
• Can you track the drivers of your corporate reputation?
• How do you benchmark your competitors?
• Do you know what your weak PR spots are? Which sectors? Which markets? Media?
• Who is talking about you, your industry – and your topics?
• What kind of media do you need to track?
©2011 Dow Jones & Company
30,000+ global sources17M+ companies35M+ executives17M+ Websites and blogs
150+ researchers130,000+ indexes
Media/VC/Risk
2,000 journalists84 bureaus18,000+ daily news items
Other People’sContent
Dow JonesResearch
Dow JonesNews,
Commentary & Analysis
MainstreamMedia
Web/SocialMedia
4
Over 150 years of Indispensable Content
Relevant Information → Actionable Intelligence
©2011 Dow Jones & Company
The SituationPower Shift: Customers are getting more demanding!
[Brands] have to SURPRISE ME, not only meet my needs, but ANTICIPATE MY NEEDS. By using social media exclusively, I think the company has to
ANSWER whenever I have a question, ENLIGHTEN me whenever I complain,and THANK me whenever I compliment them.
Source: The Language of Love in Social Media - Firefly Millward Brown
©2011 Dow Jones & Company
Challenge within Organizations:Who ‘owns’ Social Media?
Source: Blurring Lines, Turf Battles and Tweets: The Real Impact of Integrated Communications on Marketing and PR
©2011 Dow Jones & Company
Challenge within Organizations:Who ‘owns’ Social Media? WHO CARES?!
Source: Blurring Lines, Turf Battles and Tweets: The Real Impact of Integrated Communications on Marketing and PR
• For your stakeholders it doesn‟t matter who drives
Social Media in your organization
• Each interaction affects your reputation
• Hope for the best, prepare for the worst
• MUST: Integrate Social Media in your reactive approach
©2011 Dow Jones & Company
Social Media Relations: Everything Changes!?
Everything Changes
• It‟s about two-way conversations
• You‟ve to deal with more channels
• We HAVE to listen and understand what‟s said about us!
• What about those negative comments and posts?
• The game get‟s so much faster
Nothing Changes
• You‟ve to managerelationships
• So it‟s wires, print, broadcast – and social media
• You already: monitor and analyze your media coverage
• Not every negative comment means a crisis
• Already forgot newswires? Look at trends over time
©2011 Dow Jones & Company
Why measure media coverage? Show Success!
Reason 1: Demonstrate value of PR (e.g. Outputs)
– What key initiatives did you drive? Results?
Reason 2: Plan & evaluate communications activities
across channels and markets (e.g. Outtakes)
– How do you connect to publications & journalists, campaigns; what’s your brand perception?
Reason 3: Strategic Communications (e.g. Outcomes)
– How do your results relate to the budget allocation? Do you measure KPIs linking PR to business results? What is the value PR adds your organization?
Reason 4: Discovering opportunities and threats
(Radar)
– What’s happening in the industry, with my clients; is there a crisis, are there issues…?
©2011 Dow Jones & Company
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Simple But Crucial: Be Clear About Your Media Strategy Goals
• Goals drive the type of measurements you are going to use
• What’s your ultimate objective:
1. Awareness
2. Image / Reputation
3. Sales
4. Cost savings
5. Something else?
Source: 25 Must Read Social Media Marketing Tips
©2011 Dow Jones & Company
Understanding PR Measurement
1. Measurement is research – you need dedicated resources.
2. PR should link communications and business objectives.
3. Measurement must move beyond simple outputs.
4. There is no singular industry standard.
5. Approaches to measurement are evolutionary.
©2011 Dow Jones & Company
• Advertising Value Equivalencies (AVEs) are a
measure of potential COST SAVINGS, not
EARNED VALUE
• Public Relations is a broad discipline that
requires multiple metrics
• Measurement should be holistic – and budgeted
for
• Ultimately, the most valuable metrics are those
that can show a business result
Source: AMEC/ H&K
Why it‟s time to do away with AVEs and
replace them with Valid Metrics
©2011 Dow Jones & Company
• Advertising Value Equivalencies (AVEs) are a measure of potential COST SAVINGS, not EARNED VALUE
• Public Relations is a broad discipline that requires multiple metrics
• Measurement should be holistic – and budgeted for
• Ultimately, the most valuable metrics are those that can show a business result
Source: AMEC/ H&K
Why it‟s time to do away with AVEs and
replace them with Valid Metrics
©2011 Dow Jones & Company
Why it‟s time to do away with AVEs and
replace them with Valid Metrics
Time for some concrete
examples….
©2011 Dow Jones & Company
Example Logistics Industry: Customized KPI framework,
suiting specific requirements, capabilities and resources
©2011 Dow Jones & Company
Company Worldwide Americas Europe CIMA Asia PacificNorth East
Asia
Panasonic 13% 18% 17% 7% 11% 8%
Philips 7% 7% 10% 27% 2% 4%
Samsung 26% 17% 16% 40% 30% 39%
Sony 54% 58% 57% 27% 56% 49%
Example Electronics Industry: Looking at Product Lines, Brands,
Geographies
©2011 Dow Jones & Company
Outcome-based methods analyse…
• comparison to (benchmark)
• Previous performance (time)
• Expected outcomes (plan)
• Competitors (share of voice)
• credibility and targeted reach of the medium (target media) and/or journalist (key influencers)
• tone of the message (favourable, unfavourable, neutral)
• prominence or exclusivity (impact)
• appearance of key messages, spokespeople (thought leadership)
©2011 Dow Jones & Company 20
Nuclear Energy after the
Fukushima impactA Media Snapshot*
1 March – 15 April 2011 *English Media only
Case Study
©2011 Dow Jones & Company
Benchmarking & Tone – Nuclear / “Clean” PowerWith the Fukushima
accident, the nuclear energy
debate is back in the
mainstream media. Wind,
solar and hydropower were
clearly topping the agenda in
the main news outlets.
The coverage on the
accident peaked on 15/16
March, then declined rapidly
Renewable Energy became a more
prominent topic – but not to the
extent of the (negative) nuclear
coverage volumes
©2011 Dow Jones & Company
Understanding the Context
“Invisible death. Sterile
children. Cancer with no
appeal.” (The Independent)
The atomic disaster is
spreading fear worldwide.
Chernobyl has been a
synonym for this and was the
most associated topic.
No Suprise: The most affected companies
are the manufacturers of nuclear reactors,
where the number of negative stories has
passed the two third mark.
©2011 Dow Jones & Company
Understanding Your Media Landscape
23
Newswires most reliable
original source; Wall Street
Journal is the most cited
source, mainly due to the
intensive coverage of Dow
Jones Newswires.
Bloomberg Businessweek is
also relying greatly on its own
wire, while Malaysian
newspaper The Star has been
a top distributor of Reuters
News.
There is still a certain positive bias in the list
of media with the most favorable coverage in
countries where nuclear energy is still on the
political agenda.
©2011 Dow Jones & Company
Issue Management: Focus on food industry topics
24
Food safety issues are on
the rise in the coverage of
the Fukushima accident.
While the containment of the
nuclear meltdown has been
dominant immediately after
the earthquake and tsunami,
food safety concerns are
slowly appearing on the
agenda.
©2011 Dow Jones & Company
Monitor Analyse Discover
research &
promote
the buzz
issues, trends
& strategies for
impact
opportunities &
risks in time
to act
Engage
& pinpoint
better the
influential
Planning, Execution, Controlling
Communications Objectives & Strategy
Originally, measurement was post-mortem analysis.
For most environments it has become near-time!
Holistic Measurement = Holistic Management
©2011 Dow Jones & Company
26
MonitorSee the whole picture
Who‟s Listening?
Monitor and Track what‟s
relevant across media
channels / sources!
Example: Resources
©2011 Dow Jones & Company
27
Analyze
Who are they
talking about?
How good
is it?
Where do you get
most traction?
Meaningful Insights
©2011 Dow Jones & Company
28
Analyze
Which sources
cover your stories?How is the
„temperature‟
changing?
Meaningful Insights
What are journalists
saying about you?
©2011 Dow Jones & Company
29
Discover
iPhone
“This is not about searching Knowns,
this is about uncovering Unknowns and understanding
the context.”
Discover Opportunities / Threats
©2011 Dow Jones & Company
30
Engage
Journalist contacts and background information is linked to
news and analysis
Quickly access everything you need to work an angle &
make contact
What they’re writing about…
…and how to contact them
Engage Your Key Influencers
©2011 Dow Jones & Company
Future-Proofing Public RelationsWho do YOU want to be?
32
Critical Analytical Skills
No Analytical Skills
Strategic Business
OrientationVanity
Publishing
Gamblers Winners
Ostriches Bluffers
©2011 Dow Jones & Company
Source: Dow Jones E-book: “Talk to me – 10 tips for translating the PR results into the language of business“.
• 60% of companies (PR Week) are measuring PR/
Communications at the request of senior
management. – Better start before management
asks for it
• Use the right approach with the correct content
– Show the whole picture through meaningful
KPIs
• Turn simple outputs into meaningful outcomes:
Connect the dots between clip counts –trends in
coverage and favourability
Winners know what success look like:Translating PR results into the language of business
©2011 Dow Jones & Company
Source: Dow Jones E-book: “Talk to me – 10 tips for translating the PR results into the language of business“.
• 60% of companies (PR Week) are measuring PR/
Communications at the request of senior
management. – Better start before management
asks for it
• Use the right approach with the correct content
– Show the whole picture through meaningful
KPIs
• Turn simple outputs into meaningful outcomes:
Connect the dots between clip counts –trends in
coverage and favourability
Winners know what success look like:Translating PR results into the language of business
“…From an executive’s viewpoint, it can be interpreted as the difference between the PR team being busy and the PR team being indispensable.
©2011 Dow Jones & Company
Questions?
Lars Voedisch
Managing Media Consultant, APAC
Dow Jones and Company
@larsv
Thank you.
©2011 Dow Jones & Company
Lars VoedischManaging Media Consultant, APACDow Jones and [email protected] @larsv
Georg AckermannMediaLab Manager, APACDow Jones and [email protected]@derackermann
©2011 Dow Jones & Company
Georg AckermannMedia Lab Team LeaderSingapore, June 9, 2011
Introducing the Media Lab
©2011 Dow Jones & Company
Value Drivers...
Content Expertise & Services
TechnologyPartner
Total enterprise information solutions
©2011 Dow Jones & Company
Media Lab
Media Consultants, Media Analysts, Report Writers
“Follow the sun”
25+ languages
The Experts...
©2011 Dow Jones & Company
Premium Content
2,500 newspapers with same-day coverage
5,500 business and industry publications
Consumer magazines, Newswires
Social Media
17M+ Blogs, Boards
Twitter, Facebook and Youtube
TV & Radio
Transcripts
Content on
Demand
Influential Web
World’s most influential sites Editorially selected and classified
The Content…
30,000Classified publications
©2011 Dow Jones & Company
“Ambush” vs. Official
Sponsorship
Nike launches
Youtube campaign
Worldcup starts
©2011 Dow Jones & Company
Media Measurement is not (only) about Search
• Most free tools help you with your search efforts –maybe with monitoring
• What about analysis and measurement?
©2011 Dow Jones & Company
• Most free tools help you with your search efforts – maybe with monitoring
• What about analysis and measurement?
Media Measurement is not (only) about Search
©2011 Dow Jones & Company
– Are all sources important?
– Relevance vs. dates
– Normalization (Coke vs. Coca Cola); want to include other brands (e.g. Sprite)?
– Are we getting the correct meaning of “coke”
– Numbers are only approximations (what about duplications?)
Media Measurement is not (only) about Search
©2011 Dow Jones & Company
Factiva limits queries to 2048 characters
Insight allows up to 15,000 characters per concept
©2011 Dow Jones & Company 57
General Elections 2011
This election, the opposition and their supporters’ ammunition has been social media and the political landscape of Singapore has been changed forever because of it” (Social Media NZ, May 8).
Announcement
Nomination day
Election day
©2011 Dow Jones & Company 59
Online chatter on the rise…
“MM Lee need not ask Aljunied residents to REPENT” (AsiaOne Forum)
©2011 Dow Jones & Company
Questions?
Thank you.Lars VoedischManaging Media Consultant, APACDow Jones and [email protected] @larsv
Georg AckermannMediaLab Manager, APACDow Jones and [email protected]@derackermann
©2011 Dow Jones & Company
Lars VoedischRegional Head – Media Intelligence, APACDow Jones and [email protected] @larsv
Georg AckermannMediaLab Manager, APACDow Jones and [email protected]@derackermann