2009 – Client charity offer and webitpr becomes RealWire!
Time for that Christmas blog post. Some have analysed the PR industry’s prospects, others have considered trends in social media and some have produced excellent video cards, twitter page or facebook spoofs.
At webitpr we have been so busy with service and other developments that we haven’t had time to do anything quite as lengthy or creative. We have though made a commitment to send up to 10 releases for free each month next year for charities that our clients are involved in. As a treasurer of a local charity myself I think 2009 will be particularly challenging for these organisations and so we thought if people can’t help as easily with cash then perhaps we can give some time. Any client of ours who would like to take advantage of this offer just let us know.
Our other news for 2009 is that we will no longer be called webitpr. From the 2nd January 2009 we are changing the company name to Realwire Limited. Our service has gone by this name for nearly a year now and the company name change is being done in response to feedback from our clients to better reflect who we are and what we do – a real group of people helping them to get value from a wire service.
Nothing else is changing just our name – same owners, same team and same service.
I may find time to sneak away and write a few posts during the break, but in the meantime have a great festive period one and all.
Best Christmas song ever IMHO!
All free – online tools even the banks can’t stop you investing in
First of all an apology for my extended hiatus. We have been very busy here at webitpr towers on a number of projects (more about that in the near future) plus I have joined a band for the first time in over a decade and practicing for our first gig has been taking up quite a bit of my free time!
In the meantime the news has continued to be a little bleak on the economic front, to say the least, and I could choose from a whole string of big numbers to talk about e.g. £3,000bn. However I want to focus on a smaller number – £Nil.
I wrote the following articles for a recent Fresh Business Thinking newsletter about some of the free tools that exist that can aid your business’ online communications and reputation management. The social media experts out there won’t find anything new, but perhaps those of you that are less familiar with the Web 2.0 world might find something of interest.
What the world thinks is interesting about you! – Social Bookmarking explained
At the bottom of every article on the BBC website is a little box entitled “Bookmark with:â€. In that box are some icons labelled delicious, digg, reddit, facebook and stumble upon. I suspect most readers have heard of Facebook by now, but perhaps not the other four. In fact Facebook is actually the odd one out as it is a social networking site rather than a bookmarking one. The others allow users to tag, comment, vote for or in some other way save and recommend online content for both their own future use but also for all other members of that community.
A tag is where a reader uses a word or phrase to categorise a relevant piece of content such as a webpage or blog post for future use. The power of the social element of these virtual bookmarks is the potential for online word of mouth that this creates. Having tagged an article in Delicious with a specific keyword allows other people to find it – and other articles like it – by using that tag as a keyword search term. But equally useful, these tools also show the popularity of a webpage by counting the number of people who have tagged it in their own Delicious account.
For example take this article from the BBC’s website published just before New Year in 2005
http://news.bbc.co.uk/1/hi/magazine/4566526.stm
This URL has been saved 642 times (at time of writing) and the list of those 642 people can be found here:
http://delicious.com/url/3ffb4f576a0b99b7979fe3a449618a8e
You can see from this page that the most common tag was news, but that a high number of people also found it relevant toculture and humour. You can also see by clicking on the names of the people listed what other articles they have bookmarked and therefore what other interests they have. For instance kappuchino who bookmarked the article on 18th July 2008 has bookmarked 391 pages and based on their top tags would appear to be interested in web design.
You will also notice the durability of the Internet. Over a third of the bookmarks were created after the end of January 2006 – over a month after the article’s publication and over 90 of the bookmarks were created in December 2006 the year after publication. Finally there is the ability to subscribe to updates via RSS that allows you to monitor when new people decide to bookmark this page in the future.
So how does this apply to my business you might ask? Well apart from being a great way to bookmark content yourself and find articles for research it is also a reputation management tool. I am sure many of you have thought to put the name of your organisation into Google to see what comes up, but how many of you have done the same with social bookmarking sites? Remember this is real people’s responses to online content – virtual word of mouth. What are they saying about you and your organisation?
Try visiting delicious.com and doing a search for your organisation’s name or products – you might be surprised to learn what people think is interesting about you!
A great overview of how social bookmarking works can be found in this video by Commoncraft http://uk.youtube.com/watch?v=x66lV7GOcNU
Tweet Tweet! The wonderful world of Twitter
What is Twitter I hear you ask? Twitter is a microblogging platform. What is microblogging I now hear you ask?! Micro blogging is a form of blogging that allows users to write brief text updates (140 characters in Twitter’s case) and publish them, either to be viewed by anyone or by a restricted group which can be chosen by the user. These messages can be submitted by a variety of means, including text messaging from your mobile phone, instant messaging or the web.
The form of dialogue that this engenders is multi-faceted. It can be direct between two parties; a group debate about an issue; passive awareness about what people in your community are doing or thinking or a sharing of information or resources. This flexibility combined with the brief nature of dialogue makes for a very dynamic and sometimes chaotic conversation!
The tool has been used by a number of interesting organisations or situations. The Phoenix Mars mission operation used the tool to keep interested parties appraised on the mission’s progress resulting in nearly 40,000 followers http://twitter.com/MarsPhoenix. And perhaps the most famous Twitterer is Barack Obama whose campaign used the tool right up until his election and had over 140,000 followers.
A recent article in the US version of PR Week illustrates the growing use within the Communications industry at large “From a PR standpoint, Twitter is a great way to seek and create media opportunities. Reporters are now proactively tweeting to inform their followers of upcoming projects to help find spokespeople. It’s also a valuable tool to help monitor key trends, breaking news, and find out about reporters’ interests.”
It’s the same over here in the UK too. A recent piece of research by webitpr’s ex Social Media Manager, Stephen Davies, found a number of UK journalists and PR professionals actively using Twitter in their day-to-day professional lives.
But as with social bookmarking the benefit of this tool is both in its use as a way of communicating online and being part of a relevant community to either you and/or your business and also as a way to monitor the word of mouth about your organisation. In a similar way to social bookmarking you can track what people are saying about you in the Twitter community. Visit http://search.twitter.com and you can search for references to a search term that has been used in tweets – a tweet is the term used to describe a Twitter message. You can then subscribe to an RSS feed of future tweets that mention this search term and so track references as they occur. You can find even more ways you can use Twitter here.
So what are you waiting for? Start tweeting!
Really Simple Story Reading
RSS – Really Simple Syndication – is a form of web feed that supplies subscribers with a feed of new content. Think of them as your own virtual newspaper boy or girl, bringing you the news or information you select as and when it is published or updated.
The concept has actually been around in one form or other since 1999, but has become much more popular in the last few years. This is probably to some degree driven by both embedding the ability to receive RSS feeds into Internet Browsers, but also the growth in blogs. As bloggers often post erratically the benefit of an RSS feed is that instead of you having to keep checking the site in question for new content, the content comes to you when it is published. This saves the reader a lot of time potentially wasted checking sites when nothing has changed.
In order to gain the most from RSS feeds it is a very good move to subscribe to an RSS reader. There are many of these out there – Google Reader, Bloglines, Feed Demon are some examples – some are free and some charge a fee. I personally use one of the free ones – Bloglines, www.bloglines.com. The power of a service such as Bloglines is that not only can you bring together and organise all of the feeds that you subscribe to in one place, but you can then access these feeds from anywhere where you can access the Internet. In practice this means I am able to catch up with my feeds at work, home and even on the move via my mobile phone. This flexibility means I can read the stories it delivers to me pretty much anytime and anyplace – even while out walking my dog!
So what sites can you subscribe to? The answer is pretty much any. From mainstream editorial news sites such as the bbc.co.uk or guardian.co.uk to blogs such as techcrunch.com or gigaom.com. You can also subscribe to the kind of reputation management RSS feeds mentioned in the earlier social bookmarking and microblogging articles. That way you can stay on top of what people are saying about your organisation online. In fact Bloglines itself is a community and as with the other community tools you can even search within Bloglines for particular terms and so harness the RSS feeds of the community as a whole for your research or reputation management purposes. In a nutshell, if someone somewhere mentions your company on one of the many millions of blogs out there, RSS will let you know as it happens.
Given the power of this tool it is perhaps unsurprising that a recent piece of research put the number of people who subscribe to RSS feeds in the US at around 30million.
Watch out newspaper boys and girls, your days could be numbered!
Another Commoncraft guide to RSS can be found here http://uk.youtube.com/watch?v=0klgLsSxGsU.
YouTube – Its all about the kids isn’t it?
In the last few years the concept of User Generated Content (UGC) i.e. content created and published by consumers themselves has taken off like the proverbial rocket, but many people mistakenly see this as something only relevant to the young. The most obvious example of this is YouTube. YouTube was only created in February 2005 and yet was sold to Google in November 2006 for $1.65bn and is now ranked as the 3rd most visited website on the planet by the website tracking site Alexa (after Yahoo and Google). The site is so popular in the US that ComScore reported that in July 2008 over five billion videos were watched on YouTube in the US alone by over 92 million people. Staggering figures for a site that didn’t exist four years ago.
The influence of YouTube has been seen most recently in the US presidential election where many commentators attributed a significant amount of Barack Obama’s success to the video sharing site. With some going as far as to suggest that George W. Bush may not have been successful in the previous election had YouTube been in existence at that time.
But YouTube isn’t just about kids uploading funny videos or even politician’s speeches (or bloopers). It can also be a powerful business tool. As well as major content providers and broadcasters such as the BBC now having channels on the platform, a significant number of organisations have been using YouTube as a way of sharing their message and reaching new audiences though the medium of video rather than the written word. The sharing nature of the platform also means that content can be passed around easily between communities and can be posted on external sites using YouTube’s embed code that references back to the video itself.
Setting up an account is simple and subject to some size constraints you can then upload your videos, give them titles and descriptions and then start to share links to the video or embed the code on your own website or blog. If others find they like the video or want to comment on it then they can do likewise.
Sites such as YouTube have made it possible for any organisation to be its own media company. My own company, webitpr, has used the platform to share our video (below) about the Social Media News Release (SMNR) concept. The SMNR is a new form or press release which combines traditional press release text content, with multimedia and social media elements, and is used as an online PR tool to allow news content to be easily shared and discussed. The video we created last summer has been hosted on YouTube since it was produced and has to date been viewed over 8,300 times and linked to by 34 blogs. The effect of this has not only been to increase our profile but has also brought search engine optimisation (SEO) benefits with the video being ranked on the first page of both google.com and google.co.uk for a search for “social media news release”.
All of which hopefully proves that this isn’t just about the kids after all.
Global Entrepreneurship Week 17-23 November 2008
“a worldwide celebration of enterprise, which aims to unleash young people’s enterprising ideas and address some of society’s biggest issues, from poverty reduction through to climate change. More than 70 countries are currently signed up to run their very own versions of Enterprise Week, all coming under the banner of Global Entrepreneurship Week!”
The UK’s part of this, Enterprise Week, is promoted as “Make your Mark Week” which last year consisted of over 5,000 events involving more than 500,000 people. The campaign has completely embraced the use of the online media, with pretty much every online resource you can think of – blog, Twitter, media resources, Flickr, You Tube and more. Hopefully the week will inspire some great business ideas for the future.
Lord Mandelson was on BBC Breakfast this morning promoting the event and there is a quote on the site that has been approved for use from the Secretary of State for Business, Enterprise and Regulatory Reform,
“Small and medium enterprises are the backbone of our economy, with 4.7 million businesses last year contributing more than 50 per cent to the UK’s turnover.
The Government is on the side of small and medium-sized businesses and understands that they are facing tough times ahead.
We are working to create the right conditions for British enterprise by removing barriers, creating opportunities and supporting events like Global Entrepreneurship Week to inspire tomorrow’s entrepreneurs.”
I agree wholeheartedly with the first statement, but as I have said in the past, the Government’s actions last year of increasing small companies corporation tax and capital gains tax on sales of small businesses, do not support the rest of this statement. Lets hope this statement indicates that we are about to see a major U-turn on these things in next week’s pre budget report so that the enthusiasm that this campaign generates is supported through the difficult times ahead.
The 1.5% base rate cut won’t make a difference
An aggressive statement I know and one I suspect some people will tell me I am mad to claim. I am only relating this to consumers however not too business where the impact on lending that is more often linked to base rates and the potential benefits to exports of lower exchange rates may produce some positive results. But my own current experience of remortgaging has got me thinking about the effect on Joe Public.
Leaving aside the debate about whether stimulating demand through cheaper debt is really the best thing for the economy in the long run or merely trying to recreate a bubble that has already burst, consider the following:
The average age of first time buyers reached 34 in 2006 having risen from 27 over the preceeding 30 years. So lets assume that the average age as a first time buyer of people who still have mortgages outstanding was 30.
Assume the average term of a mortgage is 25 years and therefore people finish paying it on average around the age of 55.
The average price of a house has apparently fallen by 15% over the past year and is therefore back to the levels it was at in 2006.
Tracker rate mortgages that would benefit from the reduction are only held by a small minority of people as fixed rates have been in vogue and the new deals being offered are either at hefty margins that pretty much wipe out the benefit of the reduction or require LTV levels of less than 60%.
Implication 1 – the majority of people under the age of 45 will be unable to benefit from the reduction either because they are already locked into a fixed rate or can’t switch to a competitive tracker even where one is available because their LTV is likely to be assessed at more than 60% through a combination of being too early in their mortgage term and/or their house price has fallen.
Implication 2 – If you are over 50 your mortgage is likely to be low as you come to the end of your term so even though you qualify for the sub 60% LTV the reduction in your outgoings will be relatively small in absolute terms. Meanwhile your investments including your pension fund which are now much more important to you than debt prices, as you near the end of your working life, have fallen in income terms – due to the very same base rate cut – and asset value terms due to the fall in the stock market.
Conclusion
The people who could benefit from a reduction in interest rates in their pockets and so potentially stimulate demand i.e. under 45s, won’t because for various reasons they can’t get a hold of the cheap money and the ones who can get a hold of the cheap money i.e the over 50’s have lost far more on their investments than they will gain in reduction in debt cost so are also unlikely to start spending more either.
So its all down to everyone between 46-49 to bail us out
A simplistic analysis I accept but one with more than a grain of truth?
