In life, there are things that we recognize as necessary evils - paying taxes and doing dishes. But, we know we need to for our government and homes to run properly.
Keep reading to learn the pros and cons of advertising value equivalency in the gardening public relations world.
About Advertising Value Equivalency
Before we go too far, let's clarify exactly what AVE or advertising value equivalency is.
AVE's measure the cost of advertising space to put a dollar value on PR placement of the same size in that publication.
For example, if you get a two page spread in Greenhouse Grower, AVE's say how much that ad space would have cost.
Cons of Advertising Value Equivalency in Gardening Public Relations
A few years back, the best minds in public relations united to talk measurement.
One big takeaway: they confirmed AVE's don't measure the true value of PR and shouldn't be used as a public relations measurement metric.
And they're right. AVE's are not a direct measurement of the value of PR.
Below are a few cons of using AVE's to measure public relations success.
Public relations has proven to be exponentially more effective than ads. In essence, your public relations feature is worth more than an equally sized advertisement.
AVE's don't measure the focus of a placement or the actual amount of space dedicated to your garden business. If your product is mentioned in the story, the whole spread counts toward the AVE.
Public relations isn't exclusively about the dollar equivalent. AVE's don't take into account how the publication aligns with your target audience and public relations goals.
Pros of AVE's in PR and Why We Still Need Them
- The big advantage of AVE's are that they do one thing other metrics don't - they present value in dollars and cents.
And, in many cases they're what the owners of garden businesses want to see. It's a great way to prove ROI with data. Though, public relations value is always relative to your business goals.
Moving on from AVE's is an admirable goal for the gardening public relations industry, and with time your garden business should expect to see changes in the way value is measured.
But in absence of a more reliable, accessible alternative, AVE's remain a way to prove the ROI on garden public relations.
See What Else Public Relations Can Do For Your Garden Business Below!