USING PR MEASUREMENT TO BEAT YOUR COMPETITORS: A HOW-TO GUIDE

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1 USING PR MEASUREMENT TO BEAT YOUR COMPETITORS: A HOW-TO GUIDE

2 Dear Reader, Thank you for downloading this how-to guide: Using PR Measurement to Beat Your Competitors. I hope you will find it to be a valuable resource. I believe that if you want to win in today s fiercely competitive business environment, you need to keep score so you know where you stand in relation to your competitors. In the PR world that means measuring and analyzing results to help you determine whether you are ahead or trailing behind. As you ll see in this report, PR measurement is truly a game changer that can greatly impact PR and business outcomes. Measuring PR efforts against the success of your competitors gives you the data you need to respond to competitive threats, identify weaknesses in your program, and make the adjustments necessary to pull ahead of your competitors. This report outlines ways you can apply measurement to your own program in order to be more competitive. If you would like additional information on this topic, or you re interested in learning about the Wallop! OnDemand PR measurement and monitoring solutions, visit us at or contact me directly. Kind regards, Kristin Jones, CEO Wallop! OnDemand WALLOP kristin@wallopondemand.com I Wallop 2

3 INTRODUCTION When you think about it, there are a several reasons why it makes sense to monitor and measure your progress against competitors. For starters, it is hard to be competitive if you don t know where you stand. Without measurement data to reference, you may (or may not) be able to guess how your media coverage stacks up in comparison with your competitors, who is leading the industry in sales, or what sort of progress you ve made in stealing market share from the competition. But, guessing doesn t allow you to laser focus PR efforts and tweak your strategy in order to make sure PR is accomplishing the things you want it to. For that you need hard data and analytics. If you aren t currently measuring PR, or you are only capturing information about your own program, you are missing out on valuable insights and opportunities to strengthen your program and get ahead. Consider looking at competitors to help you identify your strengths and weaknesses, as well as build a heavy-hitting PR strategy that will give you the competitive edge you need to achieve your PR and business goals. Here are five steps you can take to determine where you stand in relation to competitors and then seize opportunities to pull ahead: 1. Review PR goals - clearly define what it means to beat your competitors 2. Monitor and compare coverage - tie PR goals to business goals 3. Analyze results and look for opportunities to outdo your competitors 4. Make intelligent, strategic PR recommendations 5. Continuously evaluate your progress in relation to competitors I Wallop 3

4 REVIEW PR AND BUSINESS GOALS In order to focus your measurement efforts and use the information you collect to increase your competitive edge, you first need to know specifically what you are trying to accomplish. Take a moment and answer this question, What does beating competitors really mean in terms of your particular goals? Every single business will answer this question differently because each has their own unique objectives. That is why you need to review PR and business goals, and be sure you have a solid understanding of what it will take for you to be successful in this area. I Wallop 4

5 Review goals and make sure you clearly define what being more competitive means in tangible terms that can be measured and evaluated. Do you want to increase your media coverage to put your brand s awareness more on par with your competitors? Are you trying to break into a new market and wanting to steal market share from more established competitors? Are you currently #2 in terms of sales but looking to become the sales leader for a certain product or industry? Your goals will determine what you need to measure and give you an idea of the data to collect for you and your competitors. And more importantly, once you ve collected data and analyzed it to gain program insights, your goals will provide focus for applying those insights towards your PR strategy. As you go through this process be sure that you are transparent with clients and executives so that everyone is in agreement about the goals and how success will be defined. If the PR team focuses only on PR outputs like earning more coverage than competitors but the executive team expects PR to gain ground on competitors by influencing sales figures, there will surely be problems. Ideally, expectations should be aligned and everyone on the same page when it comes to where and how PR efforts will be focused in order to beat competitors. Maybe one of your goals is to become a thought leader on a certain topic. Knowing this is a goal you are trying to achieve, you can make decisions about the data you need to capture to evaluate your progress as you work towards this goal. You ll want to find out who the other prominent voices and influencers are that you ll be competing with on this topic. You can focus your measurement on tracking how much your competitors are speaking about this topic, and what exactly they are saying. Is there one main voice that you want to steal thunder from? Or, have your competitors been fairly quite on this topic leaving the door wide open for you to step forward as a thought leader? Gathering this information will help you make strategy decisions as you work towards your goal. You can feel confident in your plan to collect relevant information about you and your competitors if you have spent adequate time reviewing your goals in the first place. { } Review PR and business goals and be sure you can answer the question: What does beating the competitors really mean to us? I Wallop 5

6 MONITOR AND COMPARE COVERAGE After reviewing PR goals you are ready to start collecting data for you and your competitors. Keep in mind, you re trying to capture information that ties to both PR goals and business objectives that way your data will be relevant and useful. Collect and compare current coverage data and also past data. In most cases collecting coverage going back about six months to a year will be sufficient. This will give you an idea of where you came from and what direction PR is driving your business in relation to the competition. Try looking at news coverage, product reviews, customer survey feedback, social content or interaction and more to help you evaluate your relationships with your competitors. If the process of monitoring PR results and collecting data seems overwhelming, remember that this step is an important investment that will pay-off down the road. Dedicating time and effort to collecting accurate information means you ll have reliable data available to use for evaluating your program against competitors and determining future strategy. This is essential to gaining a clear perspective of where you stand and how you can beat out competitors. Conversely, cutting corners at this stage means that you ll go into the analytics process with inadequate ammunition. So, what information do you need to collect? As discussed earlier, you have to answer that question yourself based on your unique goals. If you re trying to gain more visibility for a specific product that is trailing competitors, then you need data to help you understand where your coverage is falling short. You ll want to measure how much coverage that product is getting, whether it is in tier 1, 2 or 3 publications, where competitor products are getting coverage that you aren t, and so on. This is the type of data that will help you analyze your media outreach efforts and determine how to improve your strategy in order to catch-up to competitors. Using a PR monitoring or measurement provider might be a good fit to help you gather data if you don t have the bandwidth to handle this important undertaking yourself, or if you need to free-up staff and resources for other PR work. Examine your PR program and decide how your time, staff and money can be best used when it comes to I Wallop 6

7 monitoring and measurement. It doesn t make sense to compromise the quality of your measurement data by assigning measurement tasks to team members who can t give them the time and attention they deserve. When it comes to coverage data, accuracy is vital. The quality of the data you begin with determines the quality of your analytics. So, having someone available to focus on manually reviewing coverage (as well as toning and tagging it) is necessary. There are a number of services available to help you with everything from media monitoring to full-service PR measurement and analysis. If managing measurement inhouse means missing out on opportunities - or straining staff and resources you should consider looking into using a monitoring or measurement provider that can help you obtain the information you need, and even analyze that data, too. { } Collecting and comparing current and past coverage data will give you an idea of where you re coming from, and what direction PR is driving your business in relation to the competition. I Wallop 7

8 ANALYZE RESULTS AND LOOK FOR OPPORTUNITIES TO PULL AHEAD As you begin evaluating media coverage look for insights that will help you improve your PR efforts and strategy in order to outdo your competitors. Some things you may want to look at are: Are you or your competitors earning more media coverage? How does the quality of your coverage compare to that of your competitors? What publications or reporters are covering your competitors but not you? What sort of visibility do your executives have compared to competitor execs? Is your message getting through to your intended audience, or are competitors drowning out your voice? Is there a topic or area of your industry that lacks a leadership voice is there an opportunity for you to fill the silence? These examples are a jumping off point and can help you get started. Remember, you are searching for goal specific insights, and since PR goals and business goals are likely different, you need to be sure to address both. As you analyze your results and answer performance questions like the ones above, you can begin to make conclusions about where your program needs to be improved, adjusted, and where opportunities exist so you can meet or surpass competitors. I Wallop 8

9 Sometimes your data analysis will reveal problems with your current PR course that s okay. Uncovering problems is a GOOD thing. You want to know when things aren t working so you can make corrections and get on the right track. Even the best PR programs hit bumps along the way. What s important is that you re able to recognize problems in the first place and that you respond to them intelligently. For example, let s review a few of the questions on the previous page: Are you or your competitors earning more media coverage? By analyzing coverage results for you and your competitors you ll easily be able to see who is earning the most media coverage. And guess what, it might not be you. If earning more coverage is a priority then you ll want to look for ways to make that happen. Maybe you need to target different journalists, ramp up your outreach, or revise your pitch. Turn to coverage results and use the information to figure out who is getting the most coverage. Try to determine what they re doing differently that is helping them. Are they capitalizing on industry trends? Are their executives more quotable? Digging deep into your data will help you identify opportunities for how you can earn more coverage for your program. What publications or reporters are covering your competitors but not you? Your analysis may show that your company is getting good media coverage overall, but that you re falling behind the competitors in one key publication. After closer inspection you might see that one particular journalist continually writes about the competition, but never writes about you. This should clue you in that you need to work hard to build a relationship with this individual to drive coverage in that key publication so you don t lose out to your competitors. You may have a sense for this already, but by studying this particular journalist s articles, you can identify what he requires for a story and go to him armed with information. By using what you learned during your coverage analysis and letting that dictate your approach to media relations, you can capitalize on opportunities and earn better results. { } Analyzing your results against those of your competitors helps you identify weaknesses in your program and make the adjustments necessary to pull ahead. I Wallop 9

10 MAKE RECOMMENDATIONS AND IMPLEMENT INTELLIGENT PR STRATEGY Once you ve thoroughly analyzed data and come to conclusions about your program, you are ready to update your strategy and revise your plan for beating competitors. The opportunities and weaknesses you identified need to be the focus of your future strategy and PR efforts. For example, if you saw that your executives don t have the same visibility as the competition, add more thorough executive coaching into your strategy in order to improve the quality and quantity of your executive quotes. Use what you ve learned to help executives and company representatives improve message delivery to provide more depth to the industry conversation, speak more appropriately to the market, or hit on current trends. Intelligent strategy adjustments like this that are based on data are extremely effective much more so than ones based on guesses or feelings. To cover all your bases, revisit your goals once again and match strategy recommendations with specific goals. That way you can be sure the new strategy you re implementing is focused and tied to your established goals and business objectives. I Wallop 10

11 CONSTANTLY EVALUATE YOUR PROGRESS IN RELATION TO COMPETITORS Of course, as you make changes and adjustments to your PR strategy you need to continue monitoring and evaluating your progress on an ongoing basis. This will help you recognize where you are leading competitors, closing the gap, and so on. Plus, it will help you determine which PR initiatives are working, and which ones still need attention. As new players enter the market be sure you monitor their impact on you and your competitors. Continue to track industry leaders and learn from their successes. This is an unending process that will help you adapt to changes, grow and continually improve your PR program. I Wallop 11

12 About Wallop! OnDemand Wallop! OnDemand is a software-as-a-service company that s made quality PR measurement, monitoring and analytics accessible and affordable to all agencies and businesses, regardless of size. The Wallop! monitoring and measurement solutions help PR teams achieve the type of PR results clients and executives expect. Wallop! solutions offer easy-to-use, rapid-to-deploy, and cost-effective ways to manage PR programs and budgets to drive more and better results. Built on more than 20 years experience in the PR industry, Wallop! OnDemand provides PR agencies and corporate PR departments with visibility across strategic PR initiatives, global campaigns and the hard evidence they need to better align PR with business objectives. The company s customers span a wide range of technology, B2B and consumer companies, as well as virtual, boutique and mid-sized PR agencies. For more information, please visit or contact us at Wallop. I Wallop 12

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