| AVE's do not show business value. they show an estimate of what someone migh thave had to pay if they wanted to be in that publication, but I have yet find a client that would be willing to write a check for that amount. Secondly huge AVE numbers do NOT necessarily make the PR function look good. I’m sure Bell Pottinger’s AVEs were sky high right before they shuttered the business. AVEs do not promise certainty because media is by its nature unpredictable. If your goal is just awareness, just have your CEO get caught doing something illegal and your AVE values will skyrocket, but I doubt if anyone will write a check for that "value." PR does need to show value, but value in business generally implies something that helps the bottom line, and all AVE show is that you didn't have to pay for something you weren't willing to pay for in the first place. PR's value is very measurable, whether the goal is increasing awareness of what you do and what you stand for, increased belief in your messages, improved positioning relative to your competition, increased trust and credibility, lower recruitment or legal costs, increased customer preference and consideration or increased support or stock price. Those are the goals of most of the professional communicators I work for and none of those goals can be measured with AVEs. They are measured by goal conversions, changes in perceptions, increased stock price or likelihood to recommend. Most clients are willing to spend a few thousand dollars to figure out whether the millions they are spending is working. |
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