Measurement: As Simple as Three Letters?
In the world in general and in the business world in particular, TLAs (three-letter abbreviations) are everywhere: MBA, CEO, CTO, COO, SEO, WTO, and ISP barely scratch the surface. In this chapter, we focus on the two that every PR professional needs to know in-depth: AVE (advertising value equivalency) and the 800-pound gorilla, ROI (return on investment). Quite simply, clients and prospects want the reassurance of hard numbers to show they’re getting results from their marketing spend: ROI. And in an attempt to provide this reassurance, agencies have cast around for measurement systems.
Of course, clients think in terms of ROI because it can spell the difference between flourishing and folding. A ...