“Is there a scientific measurement for the evolving market we’re in? No, that doesn’t exist yet,” Machado says. “But we have to play in that sandbox if we’re going to do the right thing for our client.”
Despite all the bad news about the media industry, it is expected to be the third-fastest-growing economic sector over the next five years, after mining and construction. Almost none of that growth is forecast to come from shrinking traditional media, however. Instead, it will be drawn from areas like word-of-mouth marketing and public relations (with a 9.2 percent compound annual growth rate from 2008 through 2013), branded entertainment (9.3 percent) and the Internet and mobile devices (10.2 percent).
The fact that people — professional PR people— are saying they think that measurement is collecting clips and calculating AVEs, we’re doomed as a profession,” says Katie Paine, CEO and founder of KD Paine & Partners. “There’s absolutely nobody at the board level or CEO level of any organization that would accept any of the measures that these people seem to think are measurement.
And this just doesn’t make sense: “Most survey respondents listed clippings as the most effective tool, at 77 percent. However, among respondents who actively measure PR, just 60 percent said clips were effective.”