For those not familiar with AVE, it’s a formula used to determine what editorial coverage we public relations folks secure for our clients/brands/companies would cost if it were advertising space or time.
There is just one very major problem with this – AVEs are not the value of public relations!!
Imagine my joy when Ruth Pestana, worldwide director for strategic services for Hill & Knowlton, had the exact same sentiment during a recent BurrellesLuce webinar (moderated by the lovely Johna Burke).
During the session, I learned valuable ways to help others understand the uselessness of the AVE.
They do not:
Pestana went on to discuss a strategic public relations task force she participated on, which spent hundredsupon hundreds of hours debating a better method to measure success over time. The result – Barcelona Principles.
This framework, debuted at a Barcelona public relations conference in 2010 (hence the name), focuses on goal-setting and planning rather than a generic measurement formula after the fact. It also aligns with the communications funnel, which includes:
So, here is my question – are you adopting the Barcelona Principles? Still being forced into AVE reports? Or are you doing your own thing? If so – tell us all about it!