From April 12th-13th 2012 the IV PR Russia Forum-2012 took place in Moscow. The financial assessment of PR efficiency became the main subject of the discussion.
Over the last four years the forum has become the leading discussion platform of the PR industry, and this year the following people acted as speakers: Johanna Mcdowell, President of the International Public Relations Association (IPRA) (South Africa), Paul Holmes, The Holmes Group (USA), Gerard Francis Corbett, Chairman and Board member of the Public Relations Society of America (PRSA) and founder and General Director of Redphlag (USA). Representatives from the largest Russian and international companies and agencies also attended: Itera, Citibank, Inter RAO EES, VTB Capital, Severstal, RUSNANO, DHL Express, MTS, Kaspersky Lab, SUN Inbev, Russneft, Rostelecom, Troika Dialog, Generali PPF, Astrazeneca Russia, Azbuka Vkusa, Vympelcom, Insurance company VSK, Miratorg, Cherkizovo, GAZ Group, Deutsche Bank, Veles Capital, KPMG LLC., JSC OTP Bank, L’Oreal Russia, Real Hypermarket, Rostelecom, ONEKSIM.
During the forum participants considered modern methods of measuring PR’s revenue generation and revealed new trends in the field of quality assessment in the PR market. Elena Fadeeva, General Director of Fleishman-Hillard Vanguard, presented audiences with views on various assessment criteria of PR activity which are used in the modern practice of consultancies.
«PR activity assessment is defined by the character of the campaign and the goals which are set within communication campaigns, – Elena Fadeeva said. – Financial methods of assessing Public Relations can be considered a marketing tool, however, as the majority of PR is about building relations and gaining the trust of various audiences, it is obvious that they are not enough for carrying out a high-grade and all-round analysis.»
Considering various methods of PR assessment as a system for working with corporate reputation, Elena Fadeeva cited as an example the READ™ model (Reputation Equity Assessment and Direction) which was developed by Fleishman-Hillard to define the results of reputation management, and also to develop recommendations on maintaining or increasing corporate intangible assets.
The changing format of PR communications, increasing intensity of information consumption, widespread social networks and increasing influence of consumers on brand image formation forces the market to introduce new integrated tools of assessment. The P.E.S.O model. (Paid, Earned, Shared, Owned-media) considers Public Relations as a part of the strategic tools for the reputation management of companies and products in various channels and for different audiences that demand separate assessment systems.
Elena Fadeeva also gave examples of the various techniques used to assess PR efficiency within marketing campaigns for the promotion of goods and services. These included Advertising Value Equivalency, Weighted Media Cost, PR Value, and Return On Investment (including the Return on Media Impact and Return on Target Influence models).