VMS Video Monitoring Service Bankruptcy: A Sign of Things to Come?
Guest Post by Kye Strance, Director of Product Management, Vocus
The recent announcement by video monitoring service VMS, filing for Chapter 7 and shutting off customers, came as a shock to us at Vocus – especially as we were a partner with VMS and mutual customers have been affected. We’ve done a great job in helping out customers who were left stuck, and we’re continuing to help others find a solution to their pressing needs.
In the aftermath, though, looking at the market, I’m becoming less surprised that I initially thought I was. It’s really an indicator of the rapidly changing landscape of PR and Marketing. While still a cornerstone of public relations, print coverage and broadcast monitoring is nonetheless being rapidly supplemented (or, in some cases, replaced) by the expanding needs of social media and online engagement. The cost of monitoring print and live video broadcast has become expensive, not only for the customer, but also for providers like VMS.
Social media has certainly had its part in changing the market. But many other factors have also been in play, including the economy and people’s news-consuming behavior. Print and broadcast outlets are fewer in number now, but they’re still a strong market for organizations to get coverage in. However, they’re no longer the only markets that PR professionals need to worry about anymore in their daily monitoring. The conversation on Twitter, Facebook, forums, blogs and every other social media network out there is now capable of having an effect on your brand. And it’s not simply acase of monitoring multiple channels and mediums; an understanding of how they interconnect is now vital as well.
The successful PR and marketing software companies of the future will be those who provide a solution that addresses the interconnectedness of the multiple media and channels we now communicate through. It’s no longer about just collecting data and presenting it; it’s about how your customers can use that data to achieve new relationships and insights. It’s about helping users understand how and why bloggers react to news differently to journalists or consumers. It’s about letting users tailor their campaigns to each and every medium to produce the right results.
This is no longer a one-size-fits-all world anymore. PR and marketing are changing more rapidly than they have ever done, and so must the companies that serve their practitioners in the marketplace.
Communications Best Practices
Get the latest updates on PR, communications and marketing best practices.
Cision Product News
Keep up with everything Cision. Check here for the most current product news.
Thought leadership and communications strategy for the C-suite written by the C-suite.
A blog for and about the media featuring trends, tips, tools, media moves and more.