For our last day of site visits we went to Allbritton Communications Company and visited with representatives from “TBD” and “Politico.” “TBD,” which stands for to be determined, is a combination of a website and two television stations (WJLA and ABC 7). They are trying to make “TBD” the central hub of all local news by aggregating from dozens of community news sites, newspapers, and blogs. They are focusing on the information that is relevant to the consumer. Both the website and the television stations go hand in hand with one another because they have the ability to do things instantaneously, unlike television and print reporters.
“Politico” is more of a distinct operation than “TBD” and the television operations. “TBD” and “Politico” only share the text staff. However, there is sometimes an overlap. For example, there is a Glenn Beck rally this weekend at the Washington Mall. “Politico” will cover the politics part of the rally, whereas “TBD” will cover the local issues such as traffic concerns and where you should eat. “TBD” also utilizes social media by asking their twitter followers to send pictures and updates of what is going on. I found this to be interesting. There seems to be a common theme among the majority of companies that we have gone to visit. Those with a social media plan have developed a relationship with there audience and ask frequently for their help. They get a lot of information from people on twitter and blogs.
One of the representatives that we spoke with from “TBD” explained to us that the social media tools are most effective when you know the people that you are following or that are following you. He said it helps to have a relationship with them.
Jim VandeHei, one of the founders of “Politico,” then joined us. One of the most fascinating things that he shared with us was the simplicity of the business model he used when developing “Politico.” Moving from the “Washington Post,” Jim and John Harris decided to take the best reporters in politics and pay them substantially more than they were making—essentially compiling a dream team of political reporters. “Politico” has a niche audience and is extremely focused on one area, but this simple model has proven to be rather effective.
Due to the fact that it has been so effective, “The National Journal” is now trying to become “Politico’s” competition by using the same model. That is why “Politico” has to keep reinventing itself and constantly be one step ahead of everyone else. Perhaps this is one of the reasons why the most important and influential people wake up in the morning and read Politico.
I wish we could have talked to Jim for hours, but sadly we had to be on our way. Like always I had hundreds of questions still spinning around in my head. I wanted to ask how they created the logo for TBD. I also wanted to ask questions about how “Politico” will continue to reinvent itself and where it will go in the future.