Measuring ROI for PR? Ketchum and The Modellers Set to Prove the Value of PR
What’s the value of a handshake? For years, marketers have struggled to measure ROI for PR, but Ketchum and The Modellers promise to change things for the better, partnering in an initiative that will clearly show the value of PR.
Ketchum has partnered with The Modellers to create a unique global marketing analytics platform that will quantify the dollar-value return on customers’ public relations investment and help them determine the portion of their marketing budget that should be allocated to public relations to maximize the effectiveness of their programs.
“For years, marketing decision-makers have been using ROI analyses to help evaluate and prioritize marketing dollars, but public relations efforts have traditionally not been included in this process. As a result, marketers have not been able to precisely assign a PR budget. Now marketers can clearly see the value of PR alongside other marketing disciplines with this new approach to market-mix modeling, which more accurately measures the true impact of PR on marketing outcomes and allows us to more effectively allocate future marketing budgets,” explained Jeff Brazell, Ph.D., CEO of The Modellers.
These statements may appear overly confident, and without actually testing the platform, it is hard to determine how accurate the measurements really are. There are different ways to measure PR ROI for different companies, and the partnership between Ketchum and The Modellers will only offer insights to Ketchum and The Modellers customers.
Through the partnership, the two companies offer products and services that enable clients to assign a value to the ROI of public relations efforts, including marketing-mix modeling, brand equity driver analysis and discrete choice models. These are offered in addition to the Ketchum Global Research & Analytics proprietary suite of measurement tools, which include Ketchum Zocalo Social Intelligence, Brandbuilder, Ketchum Media Optimizer and Target Insights Panels.