Do you know what Feb. 2nd was? Go on, guess, I’ll wait…
It was #measurePR’s 4th birthday! Yes, the chat which has become somewhat of an institution as far as industry-wide digital PR events go (and I am thrilled about that), has been going strong for four whole years.
Whodathunkit?!
Back in 2010, Ms. Katie Paine was our very first guest. Seeing as how she’s not just the @queenofmetrics, but has been with #measurePR right from the beginning, I thought it was only fitting that she mark its fourth year.
Happy birthday to us!
Here’s some of what we talked about:
On changes in the measurement industry:
@shonali #measurepr Q1: Biggest change is arrival of truly integrated metrics. Media + Google Analytics + behavior metric on one dashboard #measurepr
Of course, the issue of AVE (ad value equivalency) came up. Kendra Wheeler made a statement that elicited a great point from Katie:
@KendraMareeD @shonali #measurepr just because you can digest something doesn’t mean its good for you #deathtoave #measurepr
My friend Richard Bagnall, who joined us all the way from London, added to the fun:
If #measurepr is looking for reasons NOT to use AVEs, I listed 16 of them here: http://t.co/fOPDJoiYsi #measurepr
Steven Kapoloma chimed in with his perception of AVEs:
#measurepr the essence of pr us building relationship for mutually beneficial outcome AVE does not measure that. #measurepr
I asked Katie how PR and SM pros should approach “ROI”:
@PChamero @shonali #measurepr nothing wrong with ROI measurement for PR, but most people don’t do it accurately, so cost benefit is better #measurepr
There were so many great moments during the chat, but what particularly stood out to me was how many students joined. And when one said this:
I have learned so much in a matter of minutes. AVES is quantitative based and does not measure the quality of content. #PRwriting #measurepr
”” Ale Iraheta (@airaheta2305) February 4, 2014
… why, it just made my heart sing!
We had a wonderful birthday celebration for #measurePR this past week. If you missed it, you can grab the full #measurePR transcript for February 4 (go on! now!).
And thank you very, very much for being the reason the chat has made it this far. If you hadn’t embraced it, it would have been long gone by now.
#measurePR will next come your way on Tuesday March 4, 12-1pm ET. I’m psyched that online social media training provider, author, and entrepreneur Eric Schwartzman will join us as our featured guest. Eric’s working on some very cool stuff that he’ll share, so you don’t want to miss it.
Happy Friday and have a good weekend, everyone!
AVE’s? You can’t even compare ad values between ads. So how can you between ads and pr work? Too many variables. I can’t even compare 2 Billboards in the same location with the same traffic (those some media buying companies claim they can tell who sees what). They both will have different visuals and copy. Different brands and different demographic targets.
Value is actually very subjective and can be argued over and over with no winner. A perfect example is stock price valuation. There is only 1 variable. Everything else is concrete. And that variable is the expected growth rate. I might estimate 5% and you estimate 10%. And your estimate might be on a rumor of a new product coming out. Or I might be reading the Economist and seeing that some economic headwinds will hurt the stock.
So measure away. You should measure. And come up with your own values for everything. They don’t have to pass muster with anyone but you. I have a rule of thumb for reach. Whether Neilsen or Circulation numbers I discount what is presented based on the fact you can’t prove a commercial was seen or an ad viewed. What if you got my brand 2500 mentions online but no one actually read those mentions? What is the value of that?