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Analyzing Competitive Ad vs. PR Spending

Download this guide here: https://www.demandmetric.com/content/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. It is just as challenging to demonstrate that your organization is better than the competition with leveraging PR to save on ad spending. Following is a real-world method to handle these chores. Bene ts 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 e ectively use public relations can save volumes of money that would otherwise be spent on advertisements. Better Leverage of Public Relations — by determining how your competitors are leveraging public relations in their media mix, you can learn how to become more pro cient in this area of demand generation. Measure Ad/PR E effctiveness — 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.

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Analyzing Competitive Ad vs. PR Spending

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  1. Analyzing Competitive Ad vs. PR Spending ANALYZING COMPETITIVE AD VS. PR SPENDING HOW-TO GUIDE

  2. 2 Analyzing Competitive Ad vs. PR Spending How-to Guide 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. It is just as challenging to demonstrate that your organization is better than the competition with leveraging PR to save on ad spending. Following is a real-world method to handle these chores. Use Demand Metric’s downloadable 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 discov- ering 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 of 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 docu- ment 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. HOW-TO GUIDE Not all organizations are effectively using PR to save money on advertising costs. Start tracking your ad/PR spending in relation to your competitors to demonstrate the effectiveness of your PR capabilities. If you aren’t using PR at all, strongly consider reading our report Building Successful PR Campaigns to get started. Bottom Line 2 Analyzing Competitive Ad vs. PR Spending How-to Guide 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. It is just as challenging to demonstrate that your organization is better than the competition with leveraging PR to save on ad spending. Following is a real-world method to handle these chores. Use Demand Metric’s downloadable 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 discov- ering 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 of 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 docu- ment 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. HOW-TO GUIDE Not all organizations are effectively using PR to save money on advertising costs. Start tracking your ad/PR spending in relation to your competitors to demonstrate the effectiveness of your PR capabilities. If you aren’t using PR at all, strongly consider reading our report Building Successful PR Campaigns to get started. Bottom Line

  3. 3 Analyzing Competitive Ad vs. PR Spending How-to Guide 1 2 3 Assess Value Assign a Task Leader Customize a Reporting Tool Action Plan STEP 1 - Assess Value 8 Discuss with Senior Management 7 Analyze the Data 6 Document, Document, Document 5 4 Select Relevant Publications Determine a Starting Point Consider the value that a focused adver- tising/PR tracking initiative would provide your organization. If you are being asked to conduct competitive analysis, this is one section not to be missed. V I E W R E S O U R C E Competitive Ad vs PR Analysis Guide Learn About Competitive Ad vs. PR Spending Analysis 3 Analyzing Competitive Ad vs. PR Spending How-to Guide 1 2 3 Assess Value Assign a Task Leader Customize a Reporting Tool Action Plan STEP 1 - Assess Value 8 Discuss with Senior Management 7 Analyze the Data 6 Document, Document, Document 5 4 Select Relevant Publications Determine a Starting Point Consider the value that a focused adver- tising/PR tracking initiative would provide your organization. If you are being asked to conduct competitive analysis, this is one section not to be missed. V I E W R E S O U R C E Competitive Ad vs PR Analysis Guide Learn About Competitive Ad vs. PR Spending Analysis

  4. 4 Analyzing Competitive Ad vs. PR Spending How-to Guide Action Plan STEP 2 - Assign a Task Leader 1 2 Assess Value Assign a Task Leader 8 Discuss with Senior Management 7 Analyze the Data 6 Document, Document, Document 5 3 Customize a Reporting Tool 4 Select Relevant Publications Determine a Starting Point It will become someone’s job to flip through each trade publication upon delivery to identify which competitors are placing ads or gener- ating solid PR. Try to leverage an inexpensive resource for this task. Media Specialist Job Description V I E W R E S O U R C E Hire Someone To Track Your Competitors Ads and PR 4 Analyzing Competitive Ad vs. PR Spending How-to Guide Action Plan STEP 2 - Assign a Task Leader 1 2 Assess Value Assign a Task Leader 8 Discuss with Senior Management 7 Analyze the Data 6 Document, Document, Document 5 3 Customize a Reporting Tool 4 Select Relevant Publications Determine a Starting Point It will become someone’s job to flip through each trade publication upon delivery to identify which competitors are placing ads or gener- ating solid PR. Try to leverage an inexpensive resource for this task. Media Specialist Job Description V I E W R E S O U R C E Hire Someone To Track Your Competitors Ads and PR

  5. 5 Analyzing Competitive Ad vs. PR Spending How-to Guide Action Plan STEP 3 - Customize a Reporting Tool 3 Customize a Reporting Tool 8 Discuss with Senior Management 1 Assess Value 7 Analyze the Data 6 Document, Document, Document 5 2 Assign a Task Leader 4 Select Relevant Publications Determine a Starting Point Use our downloadable Competitive Ad vs. PR Analysis Tool to kick-start this process internally. V I E W R E S O U R C E Competitive Ad vs. PR Analysis Tool Launch Customized Reporting Tool for Smart Comparisons 5 Analyzing Competitive Ad vs. PR Spending How-to Guide Action Plan STEP 3 - Customize a Reporting Tool 3 Customize a Reporting Tool 8 Discuss with Senior Management 1 Assess Value 7 Analyze the Data 6 Document, Document, Document 5 2 Assign a Task Leader 4 Select Relevant Publications Determine a Starting Point Use our downloadable Competitive Ad vs. PR Analysis Tool to kick-start this process internally. V I E W R E S O U R C E Competitive Ad vs. PR Analysis Tool Launch Customized Reporting Tool for Smart Comparisons

  6. 6 Analyzing Competitive Ad vs. PR Spending How-to Guide Action Plan STEP 4 - Select Relevant Publications 4 Select Relevant Publications 8 Discuss with Senior Management 1 Assess Value 7 Analyze the Data 6 Document, Document, Document 5 Determine a Starting Point 2 Assign a Task Leader 3 Customize a Reporting Tool Narrow the scope on your measurement process to only those publications considered core to your industry. Add your list of publica- tions to the ‘Instructions’ tab of the analysis tool. Editorial Calendar Template V I E W R E S O U R C E Stick to Core Editorials Using a Calendar 6 Analyzing Competitive Ad vs. PR Spending How-to Guide Action Plan STEP 4 - Select Relevant Publications 4 Select Relevant Publications 8 Discuss with Senior Management 1 Assess Value 7 Analyze the Data 6 Document, Document, Document 5 Determine a Starting Point 2 Assign a Task Leader 3 Customize a Reporting Tool Narrow the scope on your measurement process to only those publications considered core to your industry. Add your list of publica- tions to the ‘Instructions’ tab of the analysis tool. Editorial Calendar Template V I E W R E S O U R C E Stick to Core Editorials Using a Calendar

  7. 7 Analyzing Competitive Ad vs. PR Spending How-to Guide Action Plan STEP 5 - Determine a Starting Point 5 Determine a Starting Point 8 Discuss with Senior Management 1 Assess Value 7 Analyze the Data 6 Document, Document, Document 2 Assign a Task Leader 3 Customize a Reporting Tool 4 Select Relevant Publications You may wish to backdate your analysis to previous issues, especially if you are trying to assess competitive ad spending benchmarks. Use the same start date for each ‘Competitor’ tab to ensure you are comparing apples to apples. Competitive Ad vs PR Analysis Tool Backdate Your Analysis to Previous Issues V I E W R E S O U R C E 7 Analyzing Competitive Ad vs. PR Spending How-to Guide Action Plan STEP 5 - Determine a Starting Point 5 Determine a Starting Point 8 Discuss with Senior Management 1 Assess Value 7 Analyze the Data 6 Document, Document, Document 2 Assign a Task Leader 3 Customize a Reporting Tool 4 Select Relevant Publications You may wish to backdate your analysis to previous issues, especially if you are trying to assess competitive ad spending benchmarks. Use the same start date for each ‘Competitor’ tab to ensure you are comparing apples to apples. Competitive Ad vs PR Analysis Tool Backdate Your Analysis to Previous Issues V I E W R E S O U R C E

  8. 8 Analyzing Competitive Ad vs. PR Spending How-to Guide Action Plan STEP 6 - Document, Document, Document 6 Document, Document, Document 8 Discuss with Senior Management 1 Assess Value 7 Analyze the Data 5 2 Assign a Task Leader 3 Customize a Reporting Tool 4 Select Relevant Publications Determine a Starting Point List the publication, page reference, ad or article size (pages), article/ad topic area, jour- nalist, Ad or PR, and estimated value of the piece. Use standard pricing for PR mentions, and discounted pricing for ads if it and only if, you identify a repeated pattern. Keep Researching and Documenting Your Discoveries Competitive Ad vs PR Analysis Tool V I E W R E S O U R C E 8 Analyzing Competitive Ad vs. PR Spending How-to Guide Action Plan STEP 6 - Document, Document, Document 6 Document, Document, Document 8 Discuss with Senior Management 1 Assess Value 7 Analyze the Data 5 2 Assign a Task Leader 3 Customize a Reporting Tool 4 Select Relevant Publications Determine a Starting Point List the publication, page reference, ad or article size (pages), article/ad topic area, jour- nalist, Ad or PR, and estimated value of the piece. Use standard pricing for PR mentions, and discounted pricing for ads if it and only if, you identify a repeated pattern. Keep Researching and Documenting Your Discoveries Competitive Ad vs PR Analysis Tool V I E W R E S O U R C E

  9. 9 Analyzing Competitive Ad vs. PR Spending How-to Guide Action Plan STEP 7 - Analyze the Data 7 8 Analyze the Data Discuss with Senior Management8 Discuss with Senior Management8 Discuss with Senior Management 1 Assess Value 6 Document, Document, Document 5 2 Assign a Task Leader 3 Customize a Reporting Tool 4 Select Relevant Publications Determine a Starting Point Visit this analysis tool on a quarterly basis and total up the estimated value (or spending) that is being done industry-wide. Determine the ratio of ad spending to PR for you and your competitors. Track Ad Spend with Your Analysis Tool Competitive Ad vs PR Analysis Tool V I E W R E S O U R C E 9 Analyzing Competitive Ad vs. PR Spending How-to Guide Action Plan STEP 7 - Analyze the Data 7 8 Analyze the Data Discuss with Senior Management8 Discuss with Senior Management8 Discuss with Senior Management 1 Assess Value 6 Document, Document, Document 5 2 Assign a Task Leader 3 Customize a Reporting Tool 4 Select Relevant Publications Determine a Starting Point Visit this analysis tool on a quarterly basis and total up the estimated value (or spending) that is being done industry-wide. Determine the ratio of ad spending to PR for you and your competitors. Track Ad Spend with Your Analysis Tool Competitive Ad vs PR Analysis Tool V I E W R E S O U R C E

  10. . 10 Analyzing Competitive Ad vs. PR Spending How-to Guide Action Plan STEP 8 - Discuss with Senior Management Share your insights in a management meeting and discuss strategies you can use to improve your ad/PR spend ratio. Focus on ad/PR content to get a gut-feel for competitive strat- egies. 7 8 Discuss with Senior Management Analyze the Data 4 Select Relevant Publications 5 6 Document, Document, Document 1 Assess Value 2 Assign a Task Leader 3 Customize a Reporting Tool Determine a Starting Point Develop Clear Strategies to Improve Spend Ratios

  11. . Demand Metric is a marketing research and advisory firm serving a membership community of over 100,000 marketing professionals and consultants in 75 countries. Offering consulting playbooks, advisory services, and 500+ premium marketing tools and templates, Demand Metric resources and expertise help the marketing community plan more efficiently and effectively, answer the difficult questions about their work with authority and conviction, and complete marketing projects more quickly and with greater confidence — thus boosting the respect of the marketing team and making it easier to justify resources the team needs to succeed. To learn more about Demand Metric, please visit www.demandmetric.com About Demand Metric Follow us on Twitter Like us on Facebook Join Linkedin Group © Demand Metric Research Corporation. All Rights Reserved.

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