In this blog, Whiteoaks’ Finance Director, Adam George shares his insights about how to ensure your PR investments keep your CFO happy, including:
- Ensuring campaigns are built around business objectives
- Setting out clear performance metrics
- Finding a consistent partner
Like many services, PR can often have an intangible quality that is difficult to reconcile for finance leaders. The tendency to lean upon paid marketing where results can be measured and return on investment (ROI) established is a tempting alternative to appeal to the CFO mindset. That’s why if you want your CFO to back your PR spend, you need to position it not as a creative expense, but as the strategic, measurable business investment it is.
Here are some of the ways to make your PR investment CFO-friendly:
Fixed fees for fixed deliverables
It sounds obvious, right? Traditionally, PR has used the retainer model, but this promotes uncertainty and often results in mounting costs without a clearly defined return. Why not seek out an agency offering a fixed cost for clearly defined deliverables? By eliminating the budgetary uncertainty, PR can be factored into annual budgets with certainty, helping your finance leader plan with confidence.
Business-aligned planning
It can sometimes feel difficult to cut through the jargon and waffle associated with marketing and PR. CFOs are driven by the commercial results, not lip-service and hot air. The agency you partner with should build its strategies around your commercial goals – market expansion, growth in share-of-voice, talent acquisition or any other outcomes your business desires. By aligning PR with business strategy, you give your CFO the confidence that every pound spent is tied to measurable commercial objectives – not vanity metrics or vague brand goals.
Clear KPIs and performance reporting
This leads us on to measurement. It’s the bread and butter of any senior finance professional. The inability to measure the success of any spend means it becomes more difficult to justify. With clear KPIs agreed up-front, and concise reporting throughout a campaign, your PR spend ceases to be deemed a money pit from which results are difficult to define. Instead, it becomes a clear, measurable service aligned with your business goals.
Whether it’s share of voice, media coverage, engagement metrics or influence on pipeline, everything is benchmarked and tracked.
ROI accountability – even a money-back guarantee
‘Money back’ is a phrase you will rarely encounter in the PR world. But without this guarantee, value for money and, crucially, accountability, can often be diminished. Contrast this with clear ROI that is reinforced by a money-back guarantee. This gives your CFO peace of mind that their commercial goals are matched by the desire of the agency you engage.
Consistency that protects long-term value
Unlike paid media, your PR agency should be your partner when it comes to building and protecting your brand. PR isn’t a tap you turn on and off. Stop-start campaigns waste money and erode brand equity. If your agency adopts an ‘always-on’ approach, it becomes easier for your CFO to calculate the benefits and long-term growth provided by consistent and long-term partnerships.
PR as something finance can believe in
To keep your CFO happy with your investment, treat PR like a long-term, strategic asset – not a discretionary spend. Build your case around cost-certainty, commercial alignment and measurable impact. When you speak the CFO’s language – outcomes, risk-management, and value – you turn PR into something finance can believe in.
Get in touch to learn more about how we deliver PR campaigns that keep your CFO happy.
