My last post on PR sparked some questions, so let's tackle them.
How do you determine what the value of a particular piece of PR is? For example, if I get an article in the newspaper can I put a dollar value on that sort of exposure?
You can, but that doesn't mean it is the right value. Let's take an example. Take a look at this article that covers Court Theatre's gala. The article is from Crain's Business, a periodical targeted toward Chicago's business professionals.
Let's stipulate that Court wouldn't have got the article without some excellent PR work. Let's also assume the article took up about 1/3 of a printed page.
How do we value that? We could look up what it would cost to put in a 1/3 of a page ad in Crain's and use that value.
We could say that the value of the article is much higher because the people reading it are the type of people who could afford to spend $10,000 purchasing a table at the next Court theatre gala.
When I think about the value of PR I also think about it in the terms of the narrative we are telling the public about a particular show we are doing and whether the PR helped that narrative or hurt it.
For example, when we produced Carousel at Court Theatre, part of what we wanted to tell the public was how different the show would be from other versions of the show we had seen in the past.
From that perspective, every piece of PR we got that helped that narrative along worked. If the PR didn't help that narrative, or hurt it, then it was less effective.
It is also important to understand that there is only so much control you will ever have on PR that is created by reporters, bloggers, etc. So no matter how hard you may try to get one story out there, you still may end up with another.