For Immediate Release: The Advertising Value Equivalency (AVE) Promotion Council has announced that recent coverage of its Advertising Value Equivalency public relations measurement technique amounts to over $10 billion in media value. This figure takes into account recent voluminous condemnatory coverage in conferences, social media, and mainstream media.
The $10 billion figure was determined by adding up what it would cost to sponsor major denunciation at both the 2010 Barcelona and 2011 Lisbon Summits on Measurement, to buy several hundred inches of castigation in blog posts by prominent public relations experts, and to purchase 15 1/2" of advertising space adjacent to Carl Bialik’s Wall Street Journal column “Publicists Pump Up Value of Buzz; Don't Believe the Hype.”
This sum was then multiplied by 7.4, a generally accepted advertising-to-PR conversion factor. Based on this total, the Promotional Council calculates a 54,321% ROI on its recent program costs.
For more information on AVEs, contact any of the major measurement firms now offering them to their clients, including Kantar, Ketchum, Hill & Knowlton, MediaMonitors, VMS, BurrellesLuce, and Cision. --WTP
--Bill Paarlberg is editor of The Measurement Standard blog and newsletter, and of Katie Paine's new book Measure What Matters. The Measurement Standard is a publication of KDPaine & Partners, a company that delivers custom research to measure brand image, public relationships, and engagement.