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President Speaks 
Planning Equals ROI “You guys did a good job planning my time and material!” What a complement from our handyman Bob when Globalpress Connection recently moved into new office space! From the neatly drawn, well thought-out plan provided by Edith, Bob could quickly and easily find the brackets for the shelves, the screws for the counters and other important details. The movers came to the same conclusion- as they completed our well-planned move in 5 hours and less than $1000. The entire move of a 1600 sft office was less than $2000 and well under budget. Bob's comment made me feel good because it indicates direct ROI to my company! Handymen charge by the hour, so it's best not to waste their time and your money. Time is money, as we all know. Return on Investment (often known by the acronym ROI) seemed to be the marketing buzz word of the year. We have found that planning PR material and media events well in advance will greatly increase your ROI. After attending over 60 corporate presentations during our Summits and Reverse Press Tours in 2005, I would like to share some ideas on how to improve your ROI through more powerful presentations to reporters that will get your company’s information into print faster. Let’s start with the objective of increasing ROI. During these economically uncertain times, we are all very careful about where and how to spend our budget having considered each option to determine if it is the right strategic choice. However, it is also important to not squeeze too hard and save dollars while missing opportunities. We have gone from calculating column inches to counting hits and clicks on websites in order to estimate multiple readerships of certain articles. We need to prove that the investment in public relations programs, agency fees or media events brings ROI-- sometimes without even knowing what the desired ROI is. Do we want more customers, more awareness, more direct editor/analyst contacts, higher market position, or --- more column inches? Even if you have not defined your matrix, planning each activity is crucial to reach any ROI. I truly believe that planning a press presentation 3 months in advance will give you the most ROI. Why? Because it gives you time for quality work, insight and feedback from others and time to plan and prepare the delivery of it. What does the quality work include? Your presentation must be fresh and developed around what editors really care about. Information on product price and availability must be included, including international prices. Make sure you do not re-use a customer pitch; editors will resent that because they feel sold to.
Why? The reader is the reporters’ customer and reporters need to write newsworthy stories to retain and grow readership. Reporters also have to bring ROI to their publishing houses. I think we often forget this important fact. In my experience the best stories come out of direct personal interaction, also known as Q&A or Roundtable Sessions. Allow at least 25% of your time to converse with a reporter. You will quickly see where the interest lies, which increases your chances for coverage and ROI. Now- assuming a good article has resulted from your press briefing: A positive article describing your product or service always leaves you feeling good. However, after 30 years in marketing and 22 years in PR, I still believe that press coverage is not used to its full potential. Each press clip has to go to the sales force, to the distributors for use in sales kits or in your online news room, and put into the “In the News” binder in your lobby. Most importantly, responses need to be monitored! I can hear you moan: Irmgard: This is not new -- we do all this! Then I have to ask you: Why don’t you know how much sales the article generated? It is likely because you may not be going all the way! The final step is often forgotten: monitoring the incoming inquiry from an article. This might seem trivial and difficult at the same time - but all incoming inquiries must be qualified by customer service, fulfillment or call center with a tag in the database. The source of the inquiry must be known in order to understand your investment in a press conference, private interview or group meeting. Once the inquiry becomes a lead, a prospect and then a customer, your sales force needs to report back and yes – then you have true proof of ROI and getting PR budgets approved will be much easier. In conclusion, by carefully planning your message and presentation, as well as monitoring sales leads, you will be able to measure ROI just as we did with planning and monitoring the hours of our handyman and the movers. I hope you enjoy this issue of the newsletter, and remember, feedback is always greatly appreciated. Best regards, If you would like to check out Globalpress' home page, please go to: www.globalpresspr.com |
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