There are many misconceptions about News wire services, how they work, and what they can do for you.Lack of understanding of the benefits and limitations of wire services can end up costing you far more than you need to spend.
On TV or the radio, you may have heard the phrase "news just crossing the wires." Companies can use a wire service to distribute press releases for public relations purposes. The press release is then distributed to the rest of the world by the wire service, and it is officially "live."PR Newswire, Business Wire, Marketwire, and PRWeb are some well-known wire service companies. There are many more, but for the most part, these four provide a good cross-section.
This is the $64,000 puzzle. You'd think that the more expensive the wire service, the better it is. Unfortunately, the answer is not so straightforward.In a nutshell, it depends. It is determined by a) your budget and b) your objectives.If you have a sizable PR budget, using a larger wire service like PR Newswire or Business Wire can be advantageous.BUT that doesn't mean the lower-cost wire services are without value.While it is true that more top journalists subscribe to PR Newswire or business wire news, this may not be significant in the long run because…
how effective a wire service is in getting you press is debatable.A common rookie mistake is to believe that public relations consists of simply writing a press release and sending it to the wire service, then sitting back and waiting for the phone to ring from breathless reporters.Unfortunately, reality is quite different.Today's journalist is bombarded with information. Every day, hundreds of pitches are emailed. Constant press release distribution via wire services. The phones are ringing, and on the other end are PR Newswire Tweets and Facebook status updatesThe truth is that relying on a wire service to get media coverage will leave you disappointed.
-Officially makes a live or public announcement or news -Keeps your customers, partners, stakeholders, and investors up to date on your company -Creates a public record of consistent news and progress. -Some sites will pick up wire releases and run them almost word for word.
-Following the recent Google formula change, very few wire service postings are ranked at all by Google (although Business Wire claims to be the only one that has survived this change).-Doesn't help you get press coverage with target reporters -Lulls you into a false sense of progress with your PR initiatives.PR NEWSWIRE IS EXPENSIVEThey are widely regarded as the grandfather of wire services, but they are also the most expensive. If it is relevant to their beat, most journalists pay attention to PR Newswire. National distribution in the United States, plus a photo or two, can easily cost more than $1,500 per release. The reporting capabilities are quite robust. Recommended for larger companies or those that are publicly traded.Wire services charge for the first 400 words, then charge an additional fee for every 100 words after that.
BUSINESS WIRE IS EXPENSIVE.
Business Wire has a similar reputation to PR Newswire but is slightly less expensive. They charge for photo distribution and have different rates for different distributions, similar to PR Newswire. National distribution may cost up to 25% less than PR Newswire. Recommended for medium- to large-sized businesses, as well as publicly traded companies.
MARKETWIRE: MODERATE
Marketwire hits the sweet spot of distribution breadth while remaining reasonably priced. Rates are roughly 50% lower than the top two. Marketwire is a good option for companies looking for broader distribution but lacking the budget for the top two.
PRWEB IS CHEAP
There are numerous other low-cost or free wire services available, but PR Wire is now owned by Vocus, a large media company, and thus more reputable and reliable. The most basic package costs $80 flat, with tiered upgrades costing more than $400. Unlike the others, their fee is not based on the number of words written. They also permit you to post a photo for free. The reporting falls short; the web clips simply redirect you to Google News. Recommended for start-ups, entrepreneurs, and less "important" announcements.
WIRE SERVICES' DIRTY SECRET
According to one account executive from a wire service firm whom I will not name, the dirty secret that most people are unaware of is that the level of distribution within the United States makes no difference in terms of pick up. To put it another way, whether you spend $1,200 on US1 National or $400 on California, the pick up will be roughly the same. This appears to be the case in my experience, but your mileage may vary.If you use one of the top two services, your best bet is to use a state distribution and select a few micro lists that are highly targeted to your industry.
They are simply tools to assist you in achieving your PR objectives. They should not be confused with "public relations" in its entirety.A good public relations firm will be invaluable in guiding you through your options. Remember that nothing beats a PR firm's ability to personally contact press contacts on your behalf.
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