Tuesday, April 16, 2013

Media monitoring business cycles

This is a portion of a conversation I was having with a colleague about the media monitoring industry and what is to come with the future of media monitoring. There are apparently some offices closing due to the economy lack of interest in monitoring services new online web monitoring services in development as well as a feeling that public relations professionals can't do this on there on and still have the same amount of reliability and the data they provide. The Cision LA office I hear office and going to merge their office in Chicago with an office somewhere near the San Francisco Bay Area but that is all hearsay. I am not sure what kind of a deal they made with Critical Mention but I have stopped getting orders from Cision for video clips and there are clients who are fleeing from Cision looking for an alternative in media monitoring again.  I don't know what the deal with Cision and Critical Mention but there are enough semi-competitors such as TV-Eyes, Shadow-TV, Cyberalert and Meltwater and Moreover who believe that they are also monitors. The real question is what is the future of the monitoring industry with all of the mergers and hidden deals that are going on and how can we all help each other to make more money.  Most PR professionals believe it they can do it on their own and then way after the fact realize that they cannot this is a sad fact and much coverage is lost. The ignorance of the professional public relations person thinking that they know that they can do it themselves is false. I think that education of PR pros is what needs to happen. Cision is banking on the Cision Point Media Relations Contact database as their main product as does focus with that same competitive product. We all gain more insight when we can add more metrics to our data that we provide to the clients. The client therefore value the data that we provide for them which turns data into information and when you can look at the data with metrics that converts to information, and once that information is combined with internal statistics and additional information such as demographics an effort where the press releases were sent can reveal insight that insight is what helps make a PR professional look good to the board, their bosses, and the people in charge of the money to purchase our services. I think by leveraging the fact that we all have statistics to add to the wrong data that we have to provide we can create a need for our services and help the market realize the value of what we do. I would love to get more into the current atmosphere of the media monitoring industry and how it has seen the transformation and react with the closing of VMS the closing of the merging of Ccision and Burrelles print monitoring side and Cision and Critical mentioned getting together how do you see the future of the independent and small monitor and what can we do to increase growth, sales, revenue, and more clips being sold as well as reports that are being sent out.