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April 10, 2009, Newsletter Issue #23: Understanding the Value of Media Publicity
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Tip of the Week
When your company receives positive publicity in the news media, the value is much greater than that of advertising in the same media outlet. That's because publicity carries with it the added value of third party endorsement. When you purchase an advertisement in the newspaper, consumers know that you had control over the content of the message. When you get editorial coverage, however, the situation is very different. It's not you, or a representative of your company saying good things about your organization. Instead, the reporter, who is assumed to be a neutral third party, is reporting positive things about your business. That's much more valuable than an ad! As a general rule of thumb, when calculating value, figure out what the same size advertisement would cost and multiply it by 2.5. That will give you an estimate of the "worth" of the publicity you received.
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