Market Wire is Worried…Again
I just finished a three city tour (Austin, San Antonio and Houston) with Business Wire. The purpose of the tour was to explain Business Wire’s EON services. PRWeb makes up part of the EON service.
I was impressed both with the number of people that showed up and the diversity of the group. Heck, we even had a little Market Wire plant in San Antonio. I thought it was very democratic of Business wire to allow this person to attend knowing the nature of her interest. Because of the diversity in the group we started with varying levels of technical sophistication. This made it a bit challenging in trying to cover the product because we had to try and dynamically adjust the presentation as we went along.
Speaking of Market Wire. Paul Dyer should be embarrassed by his latest post. I really feel kind of sorry for this guy. Why? Because apparently he is charged with promoting the social media distribution of Market Wire; a company that, by all indications, has either little understanding of the space or is intentionally ignoring best practices for this emerging space. I sincerely hope it is a lack of understanding because that can be corrected. I would rather help them course correct then see them trample the best practices of those who have spent so much time building this space thereby threatening the long term viability of social media PR.
I also feel sorry for Paul because he finds himself employed by a company that has contributed nothing interesting or new to the industry. For all of the ribbing I have dished out to other competitors in our industry, at least they are trying new things. Market Wire, on the other hand is intellectually lazy leaning on PRWeb and PR Newswire for product development. I challenge anyone to show me anything Market Wire has done over the last 3-6 years that is original. Their entire SEO model for example is modeled after PR Newswire model, which I still believe has its own unnecessary limitations. Market Wire also lacks any sort of thought leadership. Their marketing collateral simply parrots what PRWeb and SEO-PR have been evangelizing for years. So to recap, Marketwire has contributed nothing to the industry in terms of new technology in over half a decade (If I could remember back further I might be able to expand my claims here as far back as a decade. I certainly cannot see anything that they have contributed since we started PRWeb a decade ago.) and zero through leadership.
Now for the belly chuckle (those that know me know that it requires a lot of momentum go get a belly chuckle out of my massive belly). Paul actually had the gall to critisize Busines Wire for taking the bold step of incorporating xhtml markup as an alternate distribution within their newsML feeds. I too was a bit skeptical when BW made the announcement back in August, 2006. But I have had time to reflect on this since and it is actually pretty cool forward thinking stuff. Unfortunately Paul and company are not trained in forward thinking. What Paul does not realize is that the BW feed actually includes both the ASCII (ANPA) content and xhtml content. I am sure that it will take time for the XHTML feed to become fully adopted by companies, search engines and web sites. That said, at least they are getting started. Thought leadership is about sticking your neck out and taking risks. It is about doing what is right for your customer long-term.
So where does Market Wire focus their efforts? Well, it appears that they are more concerned with being disrespectful (Anyone remember their attacks on Warren Buffet?) and negative marketing against their competitors. I was flattered several years ago when they started calling our customers on a daily basis to try to covert them to Market Wire. It was an indication to me that we had “arrived”. We were obviously cutting into their revenue. Luckily we have had a very loyal customer base and they send us all of the dishonest Market Wire marketing crap. We were even fortunate enough to count MW board of director members as customers back before they sold. It was really kind of cool. The good thing here is that customers are more savvy today and they are easily annoyed by the MW approach to marketing. Sometime I may post the hideous claims made by MW to PRWeb clients. I have resisted so far because I find more value in spending my time building our brand and providing thought leadership for the industry. It is almost always a sign of weakness when marketing goes negative. It basically amounts to throwing up your arms and acknowledging that you have nothing good to say about your offering.
So, let’s all cut Paul some slack. He has a hard job.
David
P.S. Paul, I think I figured out what the B.S. in your post stood for. Could it possibly stand for “Better Service”? Let me know, I think I nailed it.
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