Media Relations Minute: What is media relations to Marketwire?
It’s a well known fact that Marketwire has its own media relations department. But, unlike what most people know “media relations” to be, we do not build relationships with the media in order to garner publicity (that would be our marketing department’s role!).
As a company that provides services for PR, IR, marketing communications and media professionals, we have a different perspective and a different definition of media relations. Perhaps “media liaison” might be a more appropriate name because, essentially, we act as a bridge between the media and Marketwire clients to ensure that journalists, analysts and online communities receive news and information on their areas of interest, in the formats and via the distribution mechanisms they desire.
But why is this important? How does Marketwire benefit from forging relationships with thousands of media outlets? Here’s how: When a media outlet receives the most up-to-date news and information of interest to its readers, the client issuing that news also wins because that media outlet is on their targeted list. By providing a service to the media, we, in turn, provide a service to our clients, enabling us to maintain and strengthen credibility on both ends.
The Marketwire media relations team makes a concerted effort to provide the most effective and efficient products and services that journalists, bloggers, editors and the like can use to the fullest. Some include:
Email Platform: Marketwire offers members of the media Personal Beat, an opt-in news service that caters to the media’s need for content, news and information from companies they are interested in, including Bombaridier, Cisco, Costco and Research in Motion. This free and customizable service lets the journalist identify the type of press release they want, as well choose the way to receive them: a one-a-day newsletter format, in a RSS feed or in real-time as the release crosses the wire. There are over 140 different industries and sub-industries to choose from, as well as profiles to filter by geographic location, ticker symbols or by keywords. Subscribers can also create multiple profiles to help organize and monitor the content they need.
- Direct Newsfeeds and Online Partnerships: Various online partnership opportunities are also available to the media by providing updated news releases through either an RSS, file transfer protocol (FTP) feed or microsite (a site hosted by Marketwire that maintains the look and feel of the media’s website). These feeds are created to cater to the media outlet’s specific industry or audience while adhering to their individual editorial needs. This helps them increase readership, revenue and web traffic.
- Media Visits: To ensure lasting relationships with the media, Marketwire’s media relations team also makes “desk sides” to various outlets within their regional territories. During these visits, Marketwire is able to determine how news copy is processed and reported internally as well as identify which Marketwire specific products and services that the organization would benefit from the most, suggesting both short- and long-term solutions.
In short, Marketwire’s media relations department serves as a facilitator of information flow and an educator of clients and members of the media. That benefits both the media and our clients – and, in turn, it benefits Marketwire.