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Are You Wasting Money on Publicity? By Gordon G. Andrew, Managing Partner, Highlander Consulting “There’s no such thing as bad publicity” may work for Lindsay Lohan, but it has no application for companies that care about their brand.

Every year, companies waste time and money generating publicity that accomplishes little or nothing in terms of tangible business outcomes.

Here are a few hard truths regarding publicity:

1. BRAND RISK – If you have little control over how your company’s reputation or intellectual capital is presented – such as in a feature story where a reporter or editor will seek to produce “balanced coverage” by presenting negative items or including a competitor – then the publicity has inherent brand risk. (Value Scoring: +1 if you have total control over content; -1 if you have little or no control.)
2. CREDIBILITY – Often called “masthead value,” this factor is based on how well the media source is recognized and respected. The potential value of the publicity is based in large measure on the underlying credibility of the source, because the exposure supplies an inherent 3^rd party endorsement. (Value Scoring: +1 if the source has strong credibility; -1 if it has low credibility.)
3. MERCHANDISING POTENTIAL – This often overlooked factor is sometimes mistakenly called “reprint value,” but Merchandising Potential encompasses far more, relating to how easily and how broadly the media exposure can be leveraged to support and drive specific marketing goals. Simply posting publicity on a website does not deliver a high ROI.  (Value Scoring: +1 if the publicity has a range of applications; -1 if it's limited to one or two.)

Using this ranking methodology, and as reflected in the chart above , bylined articles and OpEd pieces published in credible sources typically deliver the highest ROI; while inclusion (being mentioned or quoted) in a round-up news or feature story does not score well. Most home-grown efforts, such as self-published press releases, have absolutely no value.

By using this formula, or a similar methodology, to evaluate the potential ROI of individual publicity tactics, and by building media and marketing strategies around only high-value activity,companies can consistently make the connection between publicity and tangible business results.