Why Advertise in Trade Publications?

September 29, 2009

We came across this gem of a blog post on Twitter last week and, like the blogger who repurposed it, thought it was an excellent piece on the merits of supporting trade publications that deserved to be more widely read by as many Public Relations Firms.  Below is an excerpt of  the original piece by Caryn Cohen of Wall Street Communications:

Why do you care if they stay in business? These brands provide credibility to your marketing messages. Their readers, subscribers etc. are loyal to these brands because they provide them with information about the products and services in their respective industries that they need to know about to make decisions. These media brands have the thousands of subscribers they have because they are viewed as a credible resource for information. So when your company is covered by a journalist in the trades, that information has much more credibility than if the company provided it on it’s own to the reader.

Here at Business Wire, we couldn’t agree more.  While we are quite active in the web’s social sphere, we are also active supporters of PR and IR industry trade publications as advertisers, contributors, and event sponsors.  Beyond that, we also work closely with and highly value our relationships with trade publications across a wide range of vertical markets.  Trades are a key component in effective distribution of client press releases and we hope that they will survive and thrive regardless of the economic climate.

As Caryn states, trade publications have established themselves as “credible resource[s] for information” and insight about products and services and most will not be easily replaced.


XBRL Update: September 2009

September 24, 2009

The biggest lesson learned from the first wave of XBRL filings is the importance of proper validation. Depending on the validation tool used, results show that virtually every filing has at least one EDGAR Filer Manual error. Furthermore, 44% of all filings have two errors or more and the average number of errors per filing is 12.  Given the changes coming forth from the SEC and XBRL US, filers will need to quickly adopt procedures to better meet the upcoming challenges.

Here are several items you should be aware of:

SEC’s EDGAR system update with upcoming EDGAR Release 9.17:
On September 28, 2009, the SEC will update the EDGAR system to enhance its Interactive Data (XBRL) file validation capabilities. The updated EDGAR system will validate an increased number of technical requirements found in the EDGAR Filer Manual.

The first set of mandated XBRL filers were allowed to submit their XBRL filings without meeting all of the EDGAR Filer Manual requirements. It is important to note the enhanced EDGAR system may now strip out XBRL files that do not comply with the requirements of the EDGAR Filer Manual. Accordingly, the SEC highly encourages filers to have their XBRL filings tested in advance of the required submission dates.

FASB Codification & XBRL US GAAP Taxonomy:
On July 1, 2009, the Financial Accounting Standards Board (“FASB”) launched the FASB Accounting Standards Codification as the single source of authoritative non-governmental US GAAP, replacing existing authoritative accounting pronouncements including those issued by FASB, EITF, AICPA and other organizations. The Codification is effective for quarterly and annual reports ending after September 15, 2009. The Codification does not change GAAP, rather it introduces a new structure, which is organized into an easily accessible online research system and can be accessed at http://asc.fasb.org. To ensure the US GAAP taxonomy is up-to-date with the latest accounting references, on August 4, 2009, FASB and XBRL US revised the XBRL US GAAP Taxonomy to include links to the FASB’s Accounting Standards Codification for XBRL elements.

SEC XBRL FAQs:
Staff Interpretations and FAQs Related to Interactive Data Disclosure:
http://www.sec.gov/spotlight/xbrl/staff-interps.shtml

Compliance and Disclosure Interpretations on Interactive Data:
http://www.sec.gov/divisions/corpfin/guidance/interactivedatainterp.htm

For further information regarding XBRL, please listen to our Webinar or contact Business Wire’s Vice President of Global Disclosure and Financial Reporting Services, Michael Becker.


Upcoming Business Wire Events – September 22 Edition

September 22, 2009

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Join Business Wire experts in your area for media breakfasts, panel discussions and other insightful events. We bring local media members and industry thought leaders to your market to discuss today’s most relevant topics, from writing for SEO to marketing with social media. Best of all, Business Wire events are usually free of charge. Check out some of our upcoming events in your area:

All Things Feature Release

Hosted by Business Wire Charlotte

Join Business Wire for breakfast in Greensboro and a panel discussion on the latest trends in feature articles and lifestyle news. Learn about how to effectively write and pitch feature stories and what newspaper and magazine editors look for in a feature story. Our panel of local communication professionals and feature editors includes Mary Leigh Wallace, Vice President of RLF Communications, Susan Ladd, Features Editor for the News & Record and Gerri Hunt, Managing Editor for Kids Today Magazine. This event is free for Business Wire members and $10 for non-members.

Tuesday, September 29 at 7:30am ET
Emerald Event Center
200 E. Wendover Ave., Greensboro, NC 27405
To register: Please RSVP to Angela Hayworth at angela.hayworth@businesswire.com or call 704-347-1590 by Thursday, September 24

Press Releases: The Road Not Taken

Hosted by Business Wire Nashville

Add more life to your press release. Join Business Wire Nashville for this educational workshop that will show you how to partner your text release with multimedia, stylistic elements and SEO techniques, the “road not taken” that can earn you big media results. This event is free for all attendees.

Tuesday, October 13 at 11:30am CT
Courtyard by Marriott
1901 West End Ave., Nashville, TN 37203
To register: Please RSVP to Denise Higgins at denise.higgins@businesswire.com or call 615.661.6123 by Tuesday, October 6

For more upcoming local Business Wire events or to see what’s coming up in our award-winning webinar series, visit http://www.businesswire.com/portal/site/home/business-wire-events.

Follow Business Wire events on Twitter! Hash tag #bwevents


The Power of Push and Pull

September 18, 2009

In a recent AdAge column, Steve Rubel of Edelman wrote an excellent essay on the increasing power of pull that led me to think about how our mix of push and pull services can serve public relations and marketing professionals in these ever-changing times.

There’s no doubt that the world of information dissemination is shifting.  Previously dominated by Push (think Television, Radio, Newspapers, and Magazines), where information is relatively scarce and blasted out to wide audiences, we’re now operating in a vast mix of both Push and Pull (think Search, Permission Marketing, Twitter, and narrowcasting to niche audiences).  In this environment, your organization’s major news announcements are still best served by reaching the widest relevant audience possible with a big Push, but sometimes whether due to budget or news content a Pull approach is wiser.

When approaching news and content creation from a pull perspective, it’s best to think from the searcher’s perspective.  As Steve writes, “One way to think of it is that Googlers are looking for “how to get rid of roaches,” not necessarily for “bug spray.””  Think of all the topic possibilities this way of thinking can open up for you to create content surrounding your brand.

Your source for ideas is often right under your nose too, namely in your Web Analytics package.  Whether you use Google Analytics, Web Trends, Omniture, or any of the other great services available, you or your web team likely has access to reports from search engines containing the keyword searches that led people to your site.  If you notice certain keywords that lead to lots of visits, long visits, inquiries, or orders you can build on them!

One strategy may be to start with a blog post, use channels like Twitter to generate buzz, craft related press releases to publish on EON: Enhanced Online News for more exposure and SEO help, and give your campaign periodic boosts with wire distributions.  Of course no news distribution service does that better than Business Wire.  Just take a look at our Distribution Catalogue and then imagine the time it would take to reach out to the thousands of news outlets individually.


Denver Media Discuss the Fractured Media Landscape at Business Wire Event

September 17, 2009

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On August 27, Business Wire Denver hosted a panel of media experts to talk about “The Future of How Global News is Delivered, and the Rise of the Fractured Communications Class.” Despite the daunting title, the focus of the discussion was clear: How are people getting their news today, who is providing it, and what are the media’s new roles in this landscape?

The panel, moderated by Joe Hodas, Senior Vice President, Brand Communications at Vladimir Jones, consisted of:

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Hodas started the panel off with the proposition 

that we are a fractured communication class – that people don’t read the entire newspaper anymore, nor do people watch a full half hour of news.  Instead, people gather their news in little bits and pieces from all over the place.  He believes that this type of news gathered by consumers is making mass media less and less realistic. Their responses:

Elkins is a fan of fractured media.  He does not believe that you can get to your audiences to come to you; you have to go where they are gathering.  Where they are gathering news is constantly changing, so it’s important to stay ahead and stay aware of social media trends. 

 Booth wonders how the media can still get paid in such an environment.  The Denver Post and 9News have two of the most popular websites in the west (presumably by hits), yet only 10 percent of the Post’s revenue comes from the Web.  Mistakes were made in the past to allow people to receive writing and video and other content for free, and now it’s catching up to the industry.

 Snyder explains that Frontier’s approach to social/fractured media is a careful one.  “Because we live in a world where every single employee can also be a reporter, steps must be taken to ensure that the employees are aware of how and when they represent the company.  Frontier is retraining every single employee to address this very thing.” 

 Maher, a self-described “social media curmudgeon,” notes that when he started in the journalism business, they used glue to keep film together.  A story required a reporter, a photographer and a sound guy.  Now he, and many of his colleagues, have to be jacks of all trades.  Jack described this as the MMJ (multi-media journalist) concept.  “It is no longer practical or acceptable to be one dimensional.”  He wonders, “Is the product being diluted by going to all these places?” 

 Garcia reveals that social media has opened up many doors for her non-profit.  She mentioned that keeping content fresh on their website with a small staff and smaller budget is challenging.  Because of this challenge, there are no restrictions on using social media in their office. 

Read the rest of this entry »


Expert XBRL Panel to Discuss Guidance for Successful Filings at Business Wire Webinar

September 16, 2009

More than 400 companies have now filed their first XBRL exhibits with the SEC, and there are important lessons to be learned from this first wave of filings.

Business Wire has assembled an expert panel to discuss these lessons and other tips for successfully transitioning your company to XBRL.  This hourlong webinar, “XBRL Update: Guidance for Successful Filings,” will be held on Thursday, Sept. 24 at 1pm ET.

The panel will be moderated by Michael Becker, Business Wire Vice President, Global Disclosure and Financial Reporting Services, and includes:

Don’t miss this opportunity for valuable insight on the XBRL creation process, best practices, recommendations and next steps for current and first time filers.  Register for “XBRL Update: Guidance for Successful Filings” today.

For more information on XBRL, visit XBRL U.S. For more on Business Wire’s XBRL products and services, visit the XBRL section on BusinessWire.com.

Technology Media Pros Discuss Transparency in Financial Reporting and Media Communications

September 15, 2009

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Business Wire Silicon Valley hosted “Transparency in Financial Reporting and Media Communications,” with a panel  featuring technology media writers and editors discussing the most important issues in corporate disclosure and investor relations. The panel, moderated by Steve Trousdale, Business Editor for the San Jose Mercury News, included:

L-R: Steve Trousdale, Aaron Ricadela, Michael Liedtke, Shana Lynch

L-R: Steve Trousdale, Aaron Ricadela, Michael Liedtke, Shana Lynch

The event, held at The Tech Museum of Innovation in San Jose, was attended by more than 55 area investor relations, public relations and media relations professionals.  Among the key tips and observations offered by the panel:

Steve Trousdale

  • PR and IR professionals should research the appropriate reporter for their story and tailor a sophisticated and creative pitch.
  • Please don’t call and ask “Who covers the Internet?”  This reflects poorly on your communications and messaging team.
  • He is more skeptical when reading earnings releases now after the tech crash in the late 90’s, so they have a keep eye for seeing the story and reading between the jargon.
  • To build and foster relationships with his news room, please offer the CFO and other key IR professionals for interviews, briefings, one on ones, etc.
  • The Mercury News enjoys working for exclusives, but as they compete with the Wall Street Journal and the New York Times, being transparent about who also has seen the press release is a best practice.

Aaron Ricadela

  • Believes PR and IR professionals should provide unfettered access to earnings calls.
  • Believes the most successful IR press release is composed clearly and that it should be easy to read.
  • Reporters at BusinessWeek do use Twitter and he believes it’s a solid way to build relationships w/ his newsroom.  Sharing tweets with relevant topics and industry chatter is valuable to them.
  • He’s not a fan of “investor days” as he would rather do a one-on-one interview.
  • PR and IR professionals also need to understand how to communicate smaller companies in a broad way, so that round-up stories and trend pieces are timely.

Michael Liedtke

  • IR professionals need to keep the writing clear in an earnings press release and offer the bottom line and top line.
  • They can quickly find the “spin” and jargon and have distaste for that language, especially since they can easily do research and see the “real story.”
  • It’s necessary for PR and IR professionals to do their homework to foster best media relations practices.
  • Do not send template PR or IR pitches. 
  • For smaller to mid-size companies, he recommends pitching a trend story or a round-up piece to connect to a larger news.
  • Companies he believes consistently push out “A+” earnings releases include: Intel, Microsoft and Oracle.
  • An industry that he covered that he considers a “poor” performer re: earnings releases include most newspaper companies.  They don’t share information well and are not strong with financial reporting.

Shana Lynch

  • All reporters on staff use Twitter, and she believes this is a fantastic way to build relationships, find leads, etc.
  • She recommends that all PR and IR professionals read the weekly and do archive searches before contacting or pitching.
  • Email is the best way to contact a reporter and to pitch a story.
  • They are interested in exclusive stories and news, but will only do so if the breaking news has not been offered to another media point.
  • A local angle is key to circulation and appeal, so please do your homework, as the BizJournal company covers the entire country.
  • The clean tech industry is also something they are covering a lot of and believe is the strongest trend.

Local Business Wire offices host several events each year on PR, IR, SEO, media and other topics.  To find out about upcoming Business Wire events both in your area and online, visit the Events section of BusinessWire.com.  And follow the #bwevents hashtag on Twitter for real-time updates during events.


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