Most businesses must invest in public relations in one form or another these days. Whether they attempt it themselves or use an outside agency, it's essentially mandatory in today's markets and workplaces to create an online presence, create messaging, publicize your brand, and build customer follow up.

Lucky for me, I run my own PR firm, so the services I provide are becoming more essential than optional in an industry that's hitting 20 billion dollars marks in 2023 and is seeing from year to year stable and sustainable growth. But regardless of the size of the market or the growth in the number of PR firms around the country, what really matters to clients – what is and always will be more important – is return on investment. How much should a business invest in PR and how is ROI measured to gauge success?

The first question is easy to answer: You need to invest as much as your budget allows to get your name out there, capture coverage, and solidify your reputation as the best in your industry. Determining whether or not that investment is paying off in the ways you want is another matter entirely.

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How ROI “success” is defined in PR

When it comes to your public relations efforts, success is essentially defined by how conversion; that is, seeing that the products of your PR budget translate into tangible and measurable results in terms such as increased traffic, increased press mentions and increased sales. But it's important to note that PR conversion isn't about direct financial returns; in the realm of publicity, the raison d'être, the post's true purpose, is media exposure. The more buzz you can create, the more your PR strategy is working.

To create maximum buzz, you need a range of combined marketing and PR services, all working together to optimally position AND promote your enterprise. When you combine all the components listed below in your PR plan, you create one digital marketing funnel, which must necessarily include calls to action to drive the funnel. It's actually the funnel that creates the conversion that creates the customer relationships that (eventually) turn into direct sales. And it all starts with exposure. So let's start with exposure as one of the main tools to realize ROI.

ROI Result #1: Press Coverage

For years, I've shouted from the rooftops that successful PR is about more than press clippings. But you know what? Press cutting are important, not only as a measurable reflection of the media hits your PR efforts are generating, but how satisfied a business feels, qualitatively, that its efforts are paying off. Clips aren't the only form of media coverage, and media coverage isn't the only barometer of ROI success, but they're still pretty good indicators and will remain so. Who doesn't want to hear that their press release was picked up by 50+ media outlets, that their product will be featured in an upcoming gift guide, or that there are half a dozen podcast invites waiting in their inbox? No businessman ever.

ROI Result #2: Competitive Analysis Findings

A PR specialist doesn't just focus on your business; a smart professional knows it research what your competitors they are doing to outsell or outsell you. When analysis reveals practical and verifiable findings that can be applied to your PR campaign (such as the most effective media channel for your particular service), it's like finding a nugget when you're panning for gold.

I remember working with a really passionate business owner who couldn't figure out why her marketing efforts were struggling. To her complete shock, I discovered that a similar company with the same name operated in her area as well. First, we implemented a brand identity change; once it was established, we started outreach and PR efforts again. It worked. By standing out in its market, its market base began to grow.

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ROI Result #3: Website Optimization and Asset Accuracy

Most companies already have a website up and running and a good chunk of company collateral before hiring a PR agency. But are those tried and true marketing tools working at their highest level and they are ASSET Does it really highlight the company's difference?

I once worked with a client whose website was just, well, blah. Why do visitors engage with a company that can't capture their attention and interest? Another time I created an eblast for a client, writing the pitch and offering them the mailing list – all they had to do was attach their sharp looking flyer and hit send. Only the subtitle of the flyer had a spelling mistake. One of the high profile media outlets it was sent to noticed the typo and emailed me about it. That was the last the outlet would tell me about that particular customer. The point: Part of a comprehensive PR campaign is a thorough review of your existing assets and informed recommendations on how to elevate them and make them far more effective.

ROI Result #4: Social Media Engagement

Remember what was said about revenue not being the holy grail of PR. Rather, expanding yours online presence contributes to the marketing funnel that trickles down to your company's bottom line, and that's why making targeted efforts on your social media platforms to garner the biggest following you can is so important.

PR professionals have the inside scoop on what to post and when, what should be a story and what should be a reel, as well as the ideal frequency and content for your particular market. So when your number of followers and calls to action increase, you can say that your PR campaign is properly capturing the personality of your business and reaching your target audience.

ROI Result #5: SEO Results

SEO isn't always a standard part of a PR package, but if you have the option, take it. With the entire world of online business now, commerce is being conducted on screen through the power of search engines, making search engine optimization the key that runs the whole machine. If you spend thousands on a state-of-the-art website, you want searchers to visit it. If you type a guest blog, you want people to read it. If you're ranking higher, seeing more traffic and getting more clicks after your SEO-enhanced PR plan is in motion, it's a sure sign that the plan is working.

Connected: Does PR actually help increase sales? Yes – Just do it right and be patient

ROI result #6: Cumulative effect of a medium and long-range PR strategy

In my line of work, everyone seems to want instant gratification; they want to become a superstar overnight, with a guest spot on it today show and a feature on New York Times. But that's not how a calculated PR plan plays out most of the time. Instead, it's more of a long game (or at least a mid-term game) in which each intentional action builds on the one before it and lays the foundation for the one after it.

You want to be proactive, yes, but also patient. You want to see results, of course, but they are unlikely to happen at lightning speed. If you give your PR campaign a chance to do its job, it will progress at a manageable pace, and cumulative accumulation will yield stable and reliable developments. Slow and steady wins the race here, so you'd do well to keep your hopes high but your expectations in check.

Final thoughts

ROI in PR is not just an abstract concept. There are other ways to measure it besides those discussed above (speaking engagements or great customer reviews, for example), and there are a plethora of metrics available now to show customers (not just show them) ROI stats (but that's a whole different article for another day). If you have one top tier public relations company in your corner, real results can be actualized and evidenced – the kind of results that take your business to the next level… and then the one above that!