The Chartered Institute of Public Relations (CIPR) has announced plans to ban its members from using AVE (advertising value equivalent). Communications practitioners found to be using AVE next year may face disciplinary action.
For those who aren’t long in the tooth, AVE is an old fashioned way to evaluate PR coverage as though it’s paid-for advertising content. Using column inches you would measure the size of an article and multiply it by a financial value provided in an advertising rate card.
Nobody pays full price for advertising when it’s bought as a package, so the AVE metric became more and more unreliable – especially when digital news and social media became increasingly important for measurement, as it simply couldn’t be measured accurately. I once saw someone using a wooden metre stick to measure online coverage on a computer screen. That was the final straw.
Stripe stopped using AVE about four years ago. At the time, we decided that providing an antiquated and inaccurate evaluation metric wasn’t right for us – we’re totally transparent in our reporting and measuring AVE isn’t a transparent process. As a quick fix, we provided CPI (cost per impression) and CPM (cost per thousand) which gave clients a financial value to track.
Since then, we’ve introduced advanced social listening services, developed an Influencer Index to measure influencer engagement on and offline, and worked in partnership with a range of data provider partners to develop our measurement approach. Our evaluations are focused on demonstrating the real-world value of our work, so we base our strategies on insights, invest in tools to help us measure in-depth, and ensure evaluation is built into our work right from the beginning. Measurement should never be an afterthought.
That’s why Stripe has a team of evaluation specialists running Stripe360, our in-house measurement and evaluation service. They use a suite of qualitative and quantitative measurement tools to provide 360 degrees of communications evaluation – from stakeholder influence and social analytics to media awareness and behavioural analysis. Their top priority is tracking real-world impact.
Banning AVE won’t affect Stripe or our clients – we don’t use it. However, we back the CIPR decision to change industry standard. Evaluations that hoodwink clients are completely unacceptable and banning deceptive metrics encourages communications practitioners to look for ways to properly measure their work with actual real-world impact.
For more information or to discuss our evaluation services, you can contact us on 0131 561 8628 or email@example.com.