How to measure PR? Working with data-minded founders, this is a question that comes up a lot.
Here’s an insight into how we approach it.
The ultimate measure of the success of PR is commercial impact. This will vary depending on the business’s needs. The mistake that’s often made is that PR is bucketed as a ‘brand awareness tool’, without clearly defined metrics for success
‘Core’ PR outputs – e.g total pieces of coverage in target publications and number of awards entered – should be tracked, but can only provide limited insight into the real impact of the work delivered.
You should start by asking what you’re trying to achieve with PR. Is it:
- Investment / VC interest
- Sales leads
- Deal flow
- Attracting talent
As a guide, here are some metrics you could consider measuring, linked to each of these objectives:
- Investment / VC interest
- In-bound enquiries from new investors
- % increase in website traffic
- Sales leads
- In-bound enquiries from individuals that fit your ideal customer profile (ICP)
- MQLs
- User sign-ups to waiting list / product demo page
- Deal flow
- In-bound enquiries from founders / companies that fit your current investment strategy
- % increase in website traffic
- Referrals from co-investors / ecosystem contacts
- Attracting talent
- In-bound applications
The truth of the matter is when PR is working, you’ll know! But these metrics provide a useful framework for measuring PR.
