Ever wonder just how much a front page story actually does for your bottom line?
Most likely a great deal, according to a recent MediaMiser report that studies potential correlations between media coverage and sales outcomes.
According to the report – featuring an analysis of Toyota Motor Corp.’s U.S. media coverage from January to May of 2011 – the overall number of Toyota-related articles and media mentions showed a direct correlation with that company’s sales figures.
As media mentions of Toyota climbed, sales figures did the same. And as media mentions dropped – well, you get the idea.
It’s a conclusion MediaMiser president Chris Morrison says many firms would be wise to heed.
“This study clearly shows a connection between media coverage and a company’s sales figures,” says Mr. Morrison. “It’s also an excellent indicator of why all organizations need a coherent media engagement strategy, one that includes measurement and assessments of media coverage at regular intervals.”
The report also explores how media coverage on different topics related to Toyota – topics such as recalls and production capacity – changed over time, as well as the relationship between the tone of media coverage and sales figures.
MediaMiser, a leading traditional and social media monitoring and analysis firm, is based in Ottawa and was founded in 2003.