PreCommerce Fireside Chat – Jim Weiss and Cathy Baron-Tamraz
Jim Weiss (CEO and Chairman – W2O Group) and Cathy Baron Tamraz (CEO – Businesswire) kicked off this afternoon with a PreCommerce Talk about Business Wire, which is the leading global commercial news wire.
Here is a summary of highlights of their discussion.
Cathy talked about how Business Wire now uses Content Capsules to share visual content along with news. She talked about the importance of Business Wire’s reputation, much in keeping with the philosophy of their owner, Berkshire Hathaway and, of course Warren Buffet. It is clear that Cathy treats the news of its clients as a treasured asset to be protected at all costs. Right on.
The press release, by the way, is now 101 years old, according to Cathy. Jim asked if the news release is still as important as it has been in the past. Cathy gave the example that Apple utilized Business Wire to introduce its new watch. Great way to answer the question succintly.
Jim discussed how W2O is partnering with Business Wire via NextWorks, led by Tim Bahr. Cathy said that Intel is using the capsule, as well as Xerox, Cigna and more. The key is that people are staying on the site for more than five minutes on average, which is far more important than counting clicks. This portable website allows people to consume content anywhere, anytime and get the full story without having to travel to other locations.
In the Q&A, Cathy was asked “what about small companies who no one knows…what do they do?” Cathy said you should not make the assumption that no one is watching….a release can be a great idea to get the word out for small businesses. In fact, Business Wire built its business serving small companies that have grown up over the years, such as HP. Jim added in that you can also identify the right influencers and keywords, so you help people find your story, which is important for any size company. So if you are building a company out of your garage, Business Wire is an important part of your arsenal.
Jim ended with discussion of the concept of Storytizing…..and emphasized it is really about what others say about you, not what you say alone. This speaks to the 1 and the 9 of the 1,9,90 model. Empowering our audiences to tell our story is always the most powerful way to go. Business Wire gets the word out….and great stories take it from there. The fundamentals remain clear and simple. The hard part is creating compelling content. That’s on all of us.
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