Issue 8 2020

44 Acquisition International - Issue 8 2020 Mar20386 Best Press Release Distribution Agency 2020 Since it was established in 2000, Presswire has become one of the most trusted names in public relations, serving private and public sector clients worldwide. Following their win in the Business Excellence Awards 2020, we interviewed CEO Richard Powell. ased in London, Presswire’s leading communications platform provides innovative, market-leading press release distribution and media contact database services. Richard gives us an overview of its key products and the customers they work with. “Our news distribution platform provides up-to-the-minute information from businesses, governments, educational institutions, and communications agencies to the media and financial markets. Building a news distribution service with a database of a million media contacts has been a long process, but happily we got it right, and today we’re viewed as a leading global information source.” When registering new clients, the company’s first step is always to identify how its products will benefit the customer most, Richard explains. “We provide them with a dedicated Account Manager to ascertain from the outset how our products will maximise the success of their campaigns. From there, we’ll ensure the PR team or Communications Department using our services have access to advice and assistance to achieve precision targeting and maximum exposure of their news.” The firm’s business strategy has evolved over the past two decades to respond to changes in the market, Richard says. “Our first goal was to build the most comprehensive media and financial analyst database in the world. Once we reached the milestone of offering a million contacts, our focus shifted to upkeep and how to keep our data current. Artificial intelligence has become our solution for this and consequently, while we still operate from London, our tech base for AI is now in the US.” As an independent operator in a marketplace dominated by large corporates, Presswire strives to provide cost-effective communications tools. But maintaining fair pricing, Richard explains, means his business must work against a culture of overcharging by incumbents. “The original data providers sold out long ago, and when that started to happen, customers began to have fewer alternatives to distribute their news. Then the large blue-chip news agencies and venture capital investors who bought those suppliers merged, meaning less competition again, and even less choice for buyers. The monopolies B that now dominate this sector can charge whatever subscription rates they want, knowing customers have little choice but to pay. “Presswire has yet to be absorbed by a listed company, and so continues to offer fair pricing, even in a bull market. With PR tools estimated to be worth $13bn by 2024, the future looks very promising, so we don’t envisage inflating our rates.” Richard says remembering Presswire’s strengths and developing them is the best way to differentiate themselves. “By maintaining the core offering of our database and our news distribution, and not overstretching, we can continue to offer the best product and services possible.” Presswire’s commitment to innovate also provides unexpected opportunities. “We get approached by big data firms wanting to apply deep learning and AI tools to our database, which we welcome because we want our partially self-updating database to become fully automated. We want to know everything there is to know about every news outlet we offer contact information for at all times.” The firm’s integration of evolving tech is also often faster than with competitors, Richard explains, because of the firm’s independent status. “Our turnaround times are more like a speedboat, than a blue- chip competitor oil tanker.” Adapting to changes and forecasting clients’ needs has been key to Presswire establishing itself as a leading global press release distribution agency, he adds. “Analysts suggest PR workers will also need to be data scientists in order to run the media campaigns of tomorrow effectively, but we anticipate customers will expect us to provide tools with this sort of functionality built-in, so they can concentrate on what they’re best at. Forecasting what our customers will need from us tomorrow is one of our most pressing considerations so we can not only remain relevant within this industry, but also lead it.” Contact Name: Richard Powell Telephone Number: +44 (0) 207 754 0050 Address: Solo House, The Courtyard, London Road, Horsham, West Sussex, RH12 1AT Web Address: presswire.com