How Marketwatch uses polls of its readers to report stories
A Marketwatch.com story last week about investing in the Twitter initial public offering originated from a poll that had run earlier in the week that allowed folks to leave an email address if they wanted to be contacted by a reporter.
It’s a reporting tactic that can be useful during a time when all journalists, and not just business journalists, are strapped for time when it comes to gathering information.
Jonnelle Marte is a reporter for MarketWatch covering health care and employment issues, and she was the writer for the story. She is also a main contributor to Tax Watch, MarketWatch’s blog on taxes. Previously, Marte covered fixed income and investing for the site and other personal finance topics for The Wall Street Journal.
Laura Mandaro is markets editor for MarketWatch, responsible for the site’s real-time markets copy and an editor of its blogs, and she oversaw the story. Mandardo previously was a feature editor and corporate reporter for the site. In her former life as a newsprint reporter, she worked at Investor’s Business Daily and American Banker.
Talking Biz News spoke by email with Mandaro about the story and about the reporting technique. What follows is an edited transcript of that conversation.
How did the idea come about to post the poll?
We’ve been using these polls on our Tell blog and Capitol Report blogs for a while to get readers’ views on a hot topic, particularly one where we’re spending extra effort on explaining what the event or subject means for a retail investor or consumer, or where we think there may be divergent views.
- What they thought about the televised food fight between Carl Icahn and Bill Ackman;
- Whether investors bought or sold stock because of the debt ceiling turmoil (drew over 4,800 responses);
- Who they thought MarketWatch’s CEO of the year should be;
- Their view on Edward Snowden;
- How long they expected the government shutdown to last.
Often our polls are multiple choice, using an in-house poll creator. Or, if we wanted to allow longer answers, we used Google Docs to create the poll. Then we published the interesting, though not scientific results, as part of our coverage.
We had never included a field that allowed readers to give us their contact information if they wanted. The Twitter poll was the first time.
What was the discussion like about asking readers for contact information?
For a while, we’ve been discussing how to bring an old newspaper feature – often called something like “Your Say” – into the digital era. Many of us worked at or grew up reading newspapers that would regularly include a column of readers’ quotes and their photos about a subject, which might be as local as a new proposed highway entrance or as global as the war in Iraq. These readers typically had agreed to share their views with the newspaper from time to time on any subject – in other words, they were a self-selected group of super-users.
We wanted to tap into MarketWatch’s own super-users. That is, the more engaged readers who would to take time to respond to polls. In particular, we were looking to give the personal, anecdotal side of investing stories that too often just quote professionals. MarketWatch mutual funds columnist Chuck Jaffe had a lot of good ideas on this.
Were you surprised at the volume of responses?
Yes, happily so!
How did you decide which readers to contact?
Jonnelle knew we wanted to frame the discussion around how people’s experience with Facebook stock may have impacted their expectations for Twitter, so she went through and categorized the responses into groups that she thought would have interesting responses.
People who had owned Facebook stock and said they didn’t want to own Twitter stock, people who didn’t own Facebook stock but wanted to own Twitter stock, and so on. Then Jonnelle emailed a bunch of those people to learn more about their individual experiences.
Was anything done to verify the people were who they said they were?
Jonnelle made sure the names given matched their email addresses and information on websites for companies they said they worked for.
What was the reaction from inside the newsroom?
We’re a very collaborative newsroom. When reporters and editors see something new, they reach out to the creator and ask how they can do it. Eventually the skill set spreads. For instance, telling a story with embedded tweets and other social media used to be a specialized skill. Now most reporters do this regularly. We share a lot of wikis and use join.me’s (and the plain-old telephone!) to share anything we think is cool.
Is this something that Marketwatch plans to do again?
What type of stories do you think this works best for?
Stories where we think our readers are not only interested in the subject, but likely to be engaged in the activity as well. Planning for retirement and buying a home are some obvious possibilities. But I’d also try this on a feature about bitcoin trading, for instance.
What type of stories will it not work well with?
Not sure we have a good answer for that. The biggest constraint, as ever, is time.