PR evaluation in financial services sector still not up to scratch, survey reveals

PR evaluation methods have not kept pace with shifts in the media landscape in the financial services sector, according to research conducted by Broadgate Mainland and The Financial Services Forum.

PR evaluation not up to scratch: survey findings
PR evaluation not up to scratch: survey findings

In a poll of senior financial services in-house PR and marketing professionals, more than 40 per cent felt that demonstrating the value of PR activity to senior executives had become more important because of the recession.

But 51 per cent did not measure broadcast coverage and half evaluated coverage on social media sites based on gut reaction to search engine alerts and RSS feeds.

More than 50 per cent of the survey respondents were not satisfied with the tools they were using to measure social media.

Some 48 per cent used advertising value equivalents (AVEs), but nearly one-third of survey respondents said that measuring coverage through this method was misleading.

Mark Knight, director, Broadgate Mainland, said: ‘Justifying the success of a PR campaign to the people who hold the purse strings in financial services companies has always been a top priority and never more so when times are hard. It doesn't mean that the analysis is incorrect but our research reveals the need for an evaluation process that provides a co-ordinated approach covering all types of media so you can accurately measure influence and audience reach. The media status quo is changing so fast.'

Fifty-two per cent of respondents said that a major part of their job was to secure appearances of key executives in their preferred publications. The Financial Times is classed as the top media outlet to promote senior executives, followed by The Telegraph and The Times weekly and Sunday titles.

Social media sites didn't receive any votes, illustrating their continued lack of penetration among decision-makers.

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