In an industry that traditionally has had little more than press clips to show for its efforts, measurement is now empowering communicators to spell out their value to CEOs in terms of ROI.
A recent survey of communications execs at Fortune 500 companies reveals that 88% of corporate PR departments now participate in benchmarking, and 82% use focus groups to measure the value of communications tactics against corporate business plans. The result has been a windfall in positive spin for the PR industry, not to mention fatter budgets and cushier titles.
This is just a sampling of the data and analysis provided exclusively for PR NEWS by the DC-based PR and strategic consulting firm Public Affairs Group, Inc. Hot new functions on the PR radar screen include branding, reputation management and investor relations. And given the flurry of mergers and acquisitions in the first half of 1999, change management is another heavy-hitting discipline drawing expertise from the communications sector.
While media relations has scored perhaps the most visible reputation gains for the industry - thanks, in part, to higher caliber electronic tracking services - measurement strategies are used more often in employee relations than in any other field. Corporate America's average communications budget now allocates roughly 5 percent of operating dollars to research and measurement. And these allocations are rising as communicators prove that PR can have a direct affect on revenues and stock prices. In this special issue, we offer an inside look at the measurement practices of major corporations.