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« June 2007 | Main | August 2007 »

Sun Microsystems shakes up traditional disclosure by announcing its financial results via the Web and RSS first, then via press release

Yesterday evening after the close of Wall Street trading, Sun Microsystems (NASDAQ: SUNW) reported results for its fourth quarter and full fiscal year, which ended June 30, 2007.

Sun

But Sun made the announcement in a new way, releasing the news first via the company IR website and RSS feeds and then ten minutes later through a news release sent to one of the press release distribution services.

While this may seem to be a small and obscure change, it signals that Sun takes Web dissemination of information very seriously. I think it also reveals to interested people (media, analysts, customers, and employees) that if you really want to know what’s going on at Sun, the most timely and comprehensive information is available on the Sun site, Sun RSS feeds, and via Sun employee bloggers.

Wow!

After talking for years about how and why marketers and PR professionals need to think like a publisher and create Web content that people want to consume, Sun provides a great example.

Jonathan Schwartz, chief executive officer and president of Sun Microsystems, announced the move on his blog in a post called Truly Fair Disclosure. Schwartz writes: "We will announce our results to the general public via Sun's IR web site before making that same information available through the third party news services that traditionally distribute such information to paying subscribers."

Neil Hershberg, Senior Vice President, Global Media at Business Wire jumped in with a blog post titled SUN'S SOLAR ECLIPSE: A Return to the Dark Age of Disclosure. Hershberg writes: "Sun’s decision to disclose via the web and RSS feeds, followed by broad wire delivery, is disclosure deja vu–a return to the bad old days before Reg FD made an earnest attempt to level the playing field."

In another twist to what this means for disclosure, Newstex, a company that distributes news and blog feeds to companies and third party information services such as LexisNexis announced that it will deliver the earnings release directly by taking it first via Sun's RSS feeds. Since Newstes also distributes PR Newswire, Larry Schwartz, Newstex President (no relation to Sun CEO Jonathan Schwartz) writes on his blog the obvious, that some people will receive the news twice: "Newstex will import Sun's Earning Release via Sun's RSS Feed and then distribute it in real time to our customers who receive the Newstex Press Release newsfeeds. Thus our customers will receive it in real time from Sun and then 10 minutes later from Sun via PR Newswire."

I think Sun's move is a brilliant one. I disagree that it is a move backwards in disclosure for a simple reason: Anybody can have access to Sun's RSS feeds directly (or via services like Newstex) just like anyone can have access to PR Newswire, Business Wire, and the other news release dissemination services. The bad old days of disclosure were when select Wall Street analysts got news first, leaving the average investor in the dark. This is different.

However, I do think it is critical that any company who wishes to follow Sun's lead and deliver important information via the Web and RSS ALWAYS use a news release distribution service in addition. Why? Because in order to get the news into Yahoo Finance, Google News, and many other places that people go for timely news and information you must send the press release to one of the wire services.

So while the Sun case example is certainly an important milestone, I don't think it signals danger to the news release wires. In fact I think the opposite is true. As I've said for years, news release wires are a fantastic way for companies to reach people directly because tens of millions of regular people (who are not journalists) read news releases directly via Google News, Yahoo News, vertical market sites and alerting systems.

+++++

Disclosures:
1. I am on the Newstex board of advisors and provide marketing strategy services to the company.
2. I participated on a Webinar and other marketing-related initiatives with PR Newswire and I have delivered presentations for user groups and done other promotional work for several other press release distribution companies.

Here's why I don't have my own podcast!

Readers of this blog know that I am a huge fan of using online thought leadership and viral marketing strategies as marketing tools. Online media such as blogs, content rich websites, ebooks, podcasts, YouTube video, and social networking sites all have a power to tell a story and to brand any organization as real and authentic and one worth of doing business with. Organizations that use this form of marketing do not interrupt people with "messages." Instead they deliver information that people want to consume.

Alas, we've only got so many hours in a day. I don't do all of the things that I write about in my book and on this blog. (OK, I admit it...) Yes, I blog and it is very important to me. But I've only ventured into Second Life a handful of times. I work hard on producing an ebook every now and then because my first one The New Rules of PR ebook (released in early 2006) has been downloaded 250,000 times, moving my business forward significantly.

I don't have my own podcast. Not enough time, I’m afraid.

But I have something that I think is much better: friends and colleagues with terrific podcasts who I am flattered have invited me to chat with them on their shows. I'm fortunate to have appeared on some of the best marketing podcasts around. For me, being an interloping guest is more fun than hosting a regular show anyway.

Check out these podcasts. You don't need to listen to the show I'm on (yikes – how boring to hear much of the same stuff over and over again). But do check out these podcasts. They are worth your time.


Podtech

Jennifer Jones is the host of Marketing Voices, a PodTech.net social media show. Jennifer and I discuss what it takes to make it in PR and marketing today. According to Jennifer, this show has "Lots of good tips." And thanks to Robert Scoble for introducing me to Jennifer.


Grokdotcom

In the GrokDotCom GrokCast, I speak with Robert Gorell about how marketing and public relations have become more conversational than ever, and how to not let these new opportunities to relate to customers slip by your company's radar. We had so much fun that we did a part two where we discuss how marketing and public relations needs to be a real interaction with not only your customers, but the people who move your industry.


Bnet

Carmine Gallo interviews me in his show Useful Commute: The New Rules of Marketing and PR on BNET (a CNET podcast channel). Carmine is a real pro, having worked in radio and TV, so if you want to hear what a well-produced podcast sounds like, check this one out.


Duct_tape_marketing

On the Duct Tape Marketing Podcast, I speak with John Jantsch about online marketing. We take a close look at the use of blogs, podcasts, RSS, wikis, press releases and the like in promoting products and services directly to the end user. I've followed John's blog for a while, so it was fun to speak with him on the show.


New_influencers

In Tech PR War Stories, Paul Gillin (author of The New Influencers) and David Strom speak with me about I used the ideas in my books to win election to MarketingSherpa's Viral Hall of Fame two years running. We also discuss the importance of search engine strategies to public relations and wonder why more PR professionals don't consider the techniques that buyers use to find products and services when they create their press releases. We kept the machine running and in part two we discussed how marketing folks have to reach out to ordinary people (and potential customers) for their press sections of their Web sites. These pages get the most traffic and show how everyone is now a publisher and can go directly to their audiences.


Rssray

In Online Marketing with RSS Ray, I discuss the New The New Rules of Marketing & PR and using online content to grow your business. This show is distributed on the very popular wsRadio.com network.


M_show

John Wall, the host of The M Show and co-host (with Christopher Penn) of the Marketing Over Coffee show, helped me write the podcasting chapter in my book The New Rules of Marketing & PR (thanks John). We try to connect for lunch about once a quarter to compare notes about online marketing, and this time we just recorded the chat which John put onto his show.


Blog_squad

In my conversation with The Blog Squad (Denise Wakeman and Patsi Krakoff) we try to answer the following questions: What does it take to get your business online? How do you leverage the Internet to attract more clients, expand your network, and make more money? What are the different tools you need to master? This one is particularly cool because they produced a transcript!


Lead_generation_for_the_complex_sal

My friend Brian Carroll (author of Lead Generation for the Complex Sale) caught up several months ago just as my new book was coming out. I like speaking with Brian because he is a B2B sales expert and we always end up comparing notes about how marketing and sales can work better together.


Communications_steroids_2

In the Communication Steroids Podcast, co-hosts Tim 'Gonzo' Gordon and Roger Pike look deeper into Communication Best Practices, Communication in the Workplace, Communication Strategies, Communications Training, Fear of Public Speaking, Assertive Communication Skills and Public Speaking Tips. We discussed speaking at tradeshows and conferences.

Thank you to all of you for having me on your shows. Keep it up! You are doing a service to marketers who want to learn more.

(And you also give me an opportunity to get my voice out there without the need for my own show!)

Building buzz does not have to be difficult

Matt Heinz points us to a fun, simple, and effective buzz marketing campaign.

24_hour_fitness

At a busy downtown intersection near his home in Kirkland, WA, two stationary exercise bikes were placed in front of a 24 Hour Fitness center. The bikes, sporting two young (and presumably buff) women in sunglasses were smack dab in the middle of the sidewalk. The women were having fun, getting some sun, smiling and waving to cars as they passed by.

I wasn't there, but I can imagine waving back. And I'd be muttering under my breath that I need to lose a pound or two myself. And then I'd be admiring the buzz marketing approach.

This is a cheap, memorable and effective way to build awareness in a crowded market.

To quote Matt: "How easy was that?"

Update on The New Rules of Marketing & PR (and a thank you)

My latest book The New Rules of Marketing and PR: How to use news releases, blogs, podcasts, viral marketing and online media to reach your buyers directly has been out two months now and I wanted to provide an update.

First, I owe a big THANK YOU to all of you who helped me write the book, and to everyone who has purchased the book, written about it on your blog, and recommended it to friends and colleagues.

Final_nrmpr_cover

Since release, it has consistently been a bestseller. As of this writing, it has never wavered from the number one position in the Public Relations category on Amazon, and has often been number one in the Web Marketing category. And it has also consistently been in the top ten of all sales and marketing books and is currently number 4. Amazon numbers are updated hourly using a complex algorithm, so when you read this, the numbers can be different.

My publisher, John Wiley & Sons, tells me that the book has sold out of its first printing and is now into its second printing.

In addition, I am thrilled to share with you the news that it will be published in Japanese, Chinese, Korean, Czech, and Portuguese with more languages likely to come. Wow.

So again, many thanks to the readers of this blog for hanging in there with me and helping to support the book. I appreciate it.

Must See TV – Mad Men: a new series about Madison Avenue in the early 1960s

I watch very little television. However, I do enjoy smart dramas that have some kind of marketing or PR component to the story line. I loved The West Wing, especially Allison Janney's CJ Craig character (the White House Spokesperson and then Chief of Staff). I did enjoy "Studio 60 on the Sunset Strip" (also an Aaron Sorkin show) and was devastated when it was canceled this past season.

Mad_men_1

I'm beside myself with excitement about a new show premiering tonight (July 19, 2007) at 10:00PM on AMC. The show is called Mad Men and it is about Madison Avenue in the 1960s. Cool! My TiVo is set!

Mad_men_2

This is from the show's official Web site. "Mad Men is AMC’s provocative new original series from writer and executive producer Matthew Weiner of The Sopranos. Set in 1960 New York, Mad Men pulls the viewer into an unexpected new world - the high-powered and glamorous 'Golden Age' of advertising - where everyone is selling something and nothing is ever what you expect it to be."

Sneak Peek video is here.

Read a review of the new series by Matthew Gilbert, TV critic at The Boston Globe.

How to recruit great speakers for your conference (and avoid the terrible ones)

Speaking at conferences and running training programs for corporate groups represents about half of my revenue these days. I speak at about 30 conferences a year and have an opportunity to hear some amazing speakers and also many incredibly terrible ones.

The worst speakers prattle on about their stupid products instead of educating and informing the audience.

In my experience, these awful speakers come in two main categories:

> Those who are chosen by conference organizers because they signed up as a "Platinum Sponsor." These speakers assume they have the right to bore audiences because they paid for it.

> The second group are "big names" (such as a company CEO). Because these speakers are chosen for their brand value ("hey, he's CEO of XYZ Company!") instead of their ability to hold an audience with a compelling presentation, these speakers often suck big time. When one of these big names steps up to the podium, the audience is anticipating something extremely interesting. But then within five minutes of some inane nonsense about how their services work, half the crowd is playing blackberry. Ugh.

Business_of_software_2007

So I am intrigued by the way that a conference called Business Software 2007 is recruiting some of its speakers: with a Software Idol contest. If you want to speak, you have to submit a short YouTube video "on a topic that will inspire, and be relevant to, an audience of software executives. Start off by saying who you are, that you want to speak at Business of Software 2007 and then pitch. Your video should be no more than 3 minutes long."

How cool is this approach?!

Even better, visitors to the web site can vote on who they would like to hear! The selected contest winners will have expenses paid to speak at the event.

Beats the heck out of some windbag CEO talking about their "flexible, scalable, cutting edge, mission critical solution for improving business process."

Randstad offers virtual jobs in Second Life paid with real money

Randstad is one of the largest temporary and contract staffing organizations in the world. The company has over 2,500 offices and employs over 300,000 people every day.

Randstad

I think it is fascinating that Randstad is the first HR services provider to open a branch office in Second Life. Randstad offers real jobs "in world" such as positions at ABN AMRO Second Life offices. Employees who work in Second Life are paid in Euros.

Randstad has put together a terrific YouTube video about it’s Second Life office.

Second Life residents can visit the Randstad branch.

Corporate Investor Relations Web sites – the last holdouts of controlled information

UPDATE

Shortly after I posted this, I had a conversation with a well-known Investor Relations industry professional who provided some clarifications. He told me that when the first IR sites were created, there was great concern about making certain that material information related to a company was disseminated according to securities industry regulations. That concern, which still exists, means that IR professionals who control the content are very careful about what is posted and how. In many cases, the corporate IR person's hands are tied by regulations and senior management concerns and therefore they do not integrate content like other departments. Clearly corporate IR sites work for the intended audience.

I’ve decided to tone down some of my initial comments (edited below) based on my conversation with this individual. Thanks for clarifying.

But I still feel that all content on corporate sites, including the IR pages, should be integrated to create a seamless whole and I hope that companies will begin to do this.

++++++++++++++++++++++

Nearly all public companies have an Investor Relations section on their site. Unfortunately, most (but certainly not all) of these IR sites are lame. The problem is IR content that has been hijacked by IR people who only see one narrow audience (Wall Street analysts and institutional investors) and build walls around their IR sites with no links in or out from other pages.

What companies need to recognize is that there is no longer a sharp distinction between audiences on corporate Web sites.

Assuming people don't want to go from one part of a site to another is like publishing one chapter of a book at a time with no easy way to flip back and forth to other chapters.

IR pages are read by many people, not just Wall Street types. The same is true of the Online Media Room, the partner pages, information for buyers and customers. When I am researching a company I might write about for a magazine article or book I’m writing, I go to the Online Media Room first. But then I check out the rest of the site. While many Online Media Rooms are beginning to be opened up, the IR site is one of the last holdouts.

Another problem is that certain IR Website consultants perpetuate the myth of the IR site as a stand-alone set of pages rather than part of an entire corporate online publishing effort.

I like when companies have seamless links from the media room to the IR site and also to other content (such as product pages), but very few do that. Most box the various parts of the corporate site in the naive thinking that people only go to one part of the corporate site. The truth is, people go to many aspects of a company site. Potential investors check out the media page, they look at the company's products and so on. Why not make it easy to find this other information?

For example, IBM's IR Viewpoint is good. There are some podcasts and other multimedia content there. But the IBM IR site doesn't seamlessly link to other pages on the IBM site (such as the media page or the IBM employee blogger page).

Do you work in PR or marketing for a public company or an agency that serves public companies? If so, take a look at the IR content on your site (or your clients’). How does it look? How would you feel if a potential customer or a journalist landed on these pages first? Would they be able to seamlessly link to other content?

Sales leads are too important for just salespeople (round two)

I posted on this topic last year and have gotten a lot of feedback (online and off). Brian Carroll and others extended the conversations so I thought I’d revisit the topic with some more thoughts.

Every salesperson loves leads. And marketing people spend lots of effort providing them. But too often, there's an artificial demarcation between the role of sales and that of marketing. This is especially true in B2B marketing where sales leads often go into a sales bucket never to be marketed to again. (What a loss).

Think about the average corporate web site. There are usually only two steps. A visitor goes to the site and there is a "contact us" form or some sort of offer (maybe for a white paper). In most companies, that "lead" is passed over to sales and is often ignored as a "crappy lead". The worst thing is that in most companies, no additional marketing happens at all to that person. What a shame.

The best thing when someone expresses interest via your site is to send them additional appropriate web content. A podcast or ebook perhaps. A link to your blog. A subscription to your email newsletter. Customer case studies.

Salespeople may argue with me, but I think it is better at the early stages of the buying process NOT to pass names to sales unless the buyer is absolutely ready to move forward. Having a salesperson call too soon disrupts people’s consideration process and it diminishes the value of a web content marketing effort.

Great information delivered online about answers to buyers problems will push people along gently. Then in future initiatives, "buy now" or "contact a salesperson" will deliver the mythical GOOD LEAD that salespeople want rather than the CRAP LEADS that they all complain about.

Of course it's the salespeople's job to follow-up on the leads. But you might consider how you can integrate marketing with sales by, say, sending each of your tradeshow visitors an appropriate thank you offer such as a free trial of your service or a complimentary download. Maybe add the sales lead to your email newsletter list.

Break down those walls between sales and marketing!

The Inside Scoop on Blogger Relations

I participated in a Webinar audio conference on June 26, 2007 called The Inside Scoop on Blogger Relations which was sponsored by Vocus. The conference was moderated by Jiyan Wei, Manager of Social Media Strategy at Vocus and the other panelist was Susan Getgood, blogger and founder of GetGood Strategic Marketing, Inc.

You can listen to the replay of the conference here. A review of the event was posted by PR Couture "Fashion PR's Haute Spot".

We ended up having way more questions submitted by attendees than we were able to answer, so Jiyan, Susan and I divided up the questions we didn't get to and we answered them in writing. Since this was a group effort by the three of us, you won't know who answered which question. (But perhaps alert readers of this blog can guess at some of the ones that I answewred...)

It is interesting for me to reflect on the answers from the three of us here. I wouldn't have answered all of the questions in the same way that my colleagues did. But I can learn from the slightly different perspectives they bring. That's what cool about this blogging thing. Nobody knows all the answers and we can learn from one another.

Q: Can I raise my profile on Google's first page by posting comments on blogs appropriate to my industry?

A: You’d have to ask Google this one. I suppose if your name is linked to your blog or Web site, it might be considered a link by Google’s algorithm, but instinctively I doubt it. But forget about Google for a minute. The more important answer is that you can raise your profile in your industry by commenting on blogs, full stop. That's really the goal, isn't it?

Q: What would you say are the benefits for state agencies in establishing and using their own blog?
A: Humanizing the organization and reaching out to your constituents. Finding out what’s on their minds. Dealing with negative perceptions and complaints before they have a chance to build up steam. The IBM Center for the Business of Government recently commissioned a report called The Blogging Revolution: Government in the Age of Web 2.0, which would be a great resource for you.

Q: For those of us working in an industry where we're not necessarily looking at customers who have blogs, but rather "influentials" and reporters, what outreach tactics tend to work best with these folks?

A: It's really the same recipe. Good blogger relations practice is not that different from good public relations practice. The goal is to tell interesting, relevant stories to people who care about what you have to say. Keep in mind, that customer doesn’t have to mean the actual user of the product. It could also be someone who influences the purchase, whether it is a purchasing agent at a company buying office supplies or a mother buying disposable diapers and baby food.

Do your homework on the bloggers, reach out with a relevant, interesting story and give first. Keep "WIIFM" front and center in your plans – tell the blogger what's in it for them in your story.

Q: What advice do you have for nonprofits?
A: Start a blog. Yesterday if you can. Non-profits depend on the largesse of their constituents – both as donors and volunteers. A blog is a great way to talk with them about the issues you mutually care about. And give them some airtime – write often about your volunteers. Ask them to be guest bloggers.

Q: How can an agency person find the time – and the budget – to daily monitor 20-30 blogs for each of five different clients?
A: If your customers are blogging, whether on their own blogs or commenting on others, you have to monitor blogs. It is no different than reading the papers every day. You have to be where the conversation is.

Set up keyword tracking like Google Alerts and Technorati Watchlists, and use those to monitor the blogosphere for mentions of your company, competitors’ hot issues and so forth. If you have the budget, you can engage a measurement firm and they'll give you all sorts of extra analysis, some of which will be useful.

For the 20-30 top blogs in each space, skim and read stuff that interests you, but don't feel you have to read every blog every day. Do make sure you read more comprehensively just before you launch an outreach, so you don't make the mistake of an inappropriate outreach. If someone blogs on Monday that a good friend is seriously ill, the last thing you want to do is send a cheery email about your new product. It would be like walking up to someone at a funeral and handing them a product sample.

Q: What is the best way to get in contact with a blogger who does not offer up any contact information, such as an email address? Is it best to comment on a post and try to develop a relationship that way?
A: Most bloggers do publish an email address of some sort – if not their main one, a gmail or yahoo address. And if they don’t have any info, absolutely comment on a relevant post or two; show that you want to talk. But if they don’t engage, don’t stress too much about it. If the blogger is truly, really very important to success for you, focus on establishing relationships with some of the bloggers that he reads such as the ones on his blogroll. Over time you might find the blogger approaching you.

Q: But do bloggers want to hear from corporate media professionals? I understand the importance of being "transparent", but once you identify yourself as a public relations professional, how credible is your point of view to these bloggers?

A: You are a person. If you answer questions thoughtfully and without all the usual PR gobbledygook, then you will be taken seriously. If someone asks what your company does in a forum or blog comment section and you say "We provide flexible, scalable solutions for improving mission critical business process using cutting edge technology" you will be laughed out of town and have no respect. If you say "we make routers" then maybe you will be listened to.

Q: Many clients ask for financial 'metrics' to determine the ROI on PR dollars spent. In traditional media you can calculate circulation numbers. How do you provide tracking / ROI for blogging outreach?
A: Clip books and other traditional PR metrics don't matter. What matters is achieving business goals like launching a new product and selling 200 units in the first two months or increasing sales by 20% in Canada. Blog outreach can help to achieve those goals. You can measure how many bloggers write about you today and set a goal for the future and measure that. If you have your own blog, you can measure comments, links and subscribers.

Q: What do you recommend if a blogger attacks you -- especially if the attack contains information that is wrong, untrue, libelous etc?
A: Respond immediately. Do not wait. Try emailing the blogger first or perhaps posting a comment. Don't try to pick a fight, instead deliver the facts. You can also reach out to friendly bloggers who may post on their blog supporting you. But the most important thing is do not wait. Do not "sit on it overnight".

Q: If you build a blog, how do you get them to come?

A: It takes time to build an audience for your blog. When you’re just getting started, make sure people know it is there and can find it! Create links to your blog from your home page, product pages or online media room. Mention your blog in your e-mail or offline newsletters, and create links to your blog as part of your e-mail signature and those of other people in your organization. Commenting on other people’s blogs (and including a link to your blog) is a good way to build an audience. If you comment (and trackback) to blogs in the same space as yours, you might be surprised at how quickly you will get visitors to your new blog.

Q: Is it a good idea to send an email to a blogger who you've cited in your own blog just letting them know that they appear in your blog that day? Does this rudely imply that you want them to reciprocate?
A: Nearly all bloggers monitor the links they get or the people who blog using their name. So they are likely to see it anyway. It is OK to email, but you should try to add something that you didn't say in the post. "I like your blog." or "I had been thinking about writing a post pointing to your blog for a while, but I finally figured out an angle."

Q: At some point, can you please discuss when / whether a company – say a meat-processing plant – should blog, and how?
A: One of the truly amazing things that happens with Internet communications is a broadening of the scope of topics that are up for discussion. This theme is explored in Chris Anderson's 'The Long Tail,' which is a great read. At any rate, I would suggest following the first golden rule of blogger relations – do your research and study the terrain. See who is blogging about your industry or your area of interest, and what sort of feedback they are getting. Chances are, there is an audience for people interested in the meat industry and, provided you are willing to put forth a dedicated effort online, there will be benefits to launching a blog.

Q: How do you balance being honest with protecting business proprietary information with bloggers?
A: I don't think honesty and protecting proprietary information are two mutually exclusive things. Honesty is about being open with regard to who you are and what it is that you are saying. I would never recommend publicizing proprietary information that you wouldn't feel comfortable sharing with a journalist or the general public.

Bloggers understand that a company can't release proprietary or confidential information on a Web site or a blog. They just want to be treated with honesty and respect. Disclose your interests and tell the truth.

Q: What do you say to a client when they get a spike in hit to their site due to blog PR efforts, and they still make no sales?

A: I think you could look at this a number of ways: First, I would be interested in reviewing the interactive marketing efforts – is the Web site optimized for conversions? Can people be easily bought into the purchasing cycle? If a blog is generating a great deal of traffic into a Web site, then I would say it is accomplishing something substantial. It should be the role of the Web site to educate potential customers on the products and how best to purchase.

Another possibility is that the value proposition isn’t being carried through. The readers come to the site expecting something from what they read on the blogs, and they didn’t find it.

Q: Does Vocus PR Workflow offer support for tracking and communicating with bloggers on a regular basis outside of the press release process such as has been described here? Or is it back to the goldmine... in other words how much CRM capability does Vocus offer in this regard?
A: Yes, with Vocus PR you can track your communications and interactions with bloggers just as you would track your communications and interactions with any journalist.

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