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AVE Procedures - 26 Apr 17

AVE Procedures - 26 Apr 17

Understanding correct AVE procedures

As a PR practitioner, you understand the need for accurate AVE values. Without them it would not be possible to attach a return on investment to any given campaign or barter deal. As such, it’s easy to see why one would want the most accurate AVE figures available, with the exaggerated and inaccurate values already syphoned out.

Inaccurate figures

In order to get the most accurate figures, a media monitoring company firstly needs to be able to identify non-related content. Non-related content has no value to your function, but it tends to be measured, which can lead to inaccurate figures and inflated values.

AVE is influenced by the rates or the rate card of the publisher and in some cases can be high even when the circulation is low.

Calculate advertising value based on the value of the size (Real estate). Great care should be given to prevent partial mentions from receiving the full value of the article. In this case, applying the proportionate value, provides true accuracy.

The role of media monitoring

As media monitoring and public relations practitioners, we are required to accurately demonstrate the extent to which PR activity supports and achieves business objectives. We aim to supply this information in a format that is easy to understand, so it can be used to justify PR activity across multiple departments.

In order to do so, measurement of all outputs and a comparison to business objectives is necessary. Professionalism and best practice requires that we as practitioners introduce only valid measurement metrics to our clients and organisations, so that we can move the focus away from output measurement to content analysis and impact on reputation and the bottom line.

In order to get the most out of any PR activity, a good media monitoring solution may help you identify the true values you received in exchange for sponsorship or advertisement placement.

By cutting out the noise, we help you get to the real value of content, which will enable you to make the necessary changes to ensure that any activity is a strong as it possibly can be.

The truth of AVE

AVE measurements are used by the majority of practitioners and we are not advocating its exclusion as a tool for measuring objectives. We do, however, discourage the practise of applying multiplying factors to AVE measurements.

Multiplying factors are used to factor in the weight of an outside commentator. The thinking is that a journalist’s comments are more believable than traditional marketing, and therefore is worth more. While this may be true, there is no accurate way to test this hypothesis and therefore no accurate figure by which you can multiply an AVE figure.

There is no concrete evidence to suggest that this method works and therefore it adds little to no value to the public relations function.

When AVE is used as a measurement method, only a direct 1:1 comparison of value should be used. Meaningful measurement metrics should also be introduced, or should at least be part of measuring and evaluating. This is the best way to ensure accurate figures that will be of value to current and future objectives within your company.

At QuickPic, we pride ourselves in only delivering honest, accurate, relevant and true AVE figures. We have taken a stance against AVE figures being exaggerated by multiplier factors based on prominence, image impact and prestige of the media channel and other criterion.

This allows us to provide accurate figures when we start comparing the value of said publicity relative to the value of paid advertising space or airtime. In turn, you will be given the most complete break-down of AVE value, which can then be compared to the cost of traditional advertising.

If you do have further questions around this topic, please do not hesitate to contact us.

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    Accurate AVE.jpg
    Date:
    26 Apr 2017
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