MarketWatch is brewing up what could be a grand way to combat Motley Fool CAPS and other investment communities. The site is now featuring its new Community Site open for Beta testing.
I was at the MarketWatch homepage today when I ran across the advertisement to check out their new homepage. Figuring it was a new site design I followed to find out I was wrong.
I don't know why they claim its "The New MarketWatch Homepage" because I just can't see them replacing their current homepage with a community driven one.
The whole idea of the new MarketWatch Community is based on getting more participation from readers and members to leave comments, discuss MarketWatch articles, etc. As a result of an involved community you then increase monthly pageviews by a big amount, which then converts to more ad revenue.
If you look at the Community Homepage you can see what the main features are:
- Tag Stories. The more people that tag stories the easier it is to find content related to what you are looking for. With the use of a Community tag cloud this will be accomplished.
- Recommend Stories. Once you recommend a story it attains a 1 - 4 star rating which is averaged with all other voters. Top stories will then be featured on a seperate page which is basically a digg like function for just MarketWatch content.
- Comment on Stories. This feature allows you to leave a comment with any story posted on the MarketWatch site. Recent comments and the most commented stories are then featured on the Community homepage.
- Make Market Picks. you can predict the future performance of stocks with a simple click of the mouse and your opinion is then weighed in with the rest of the community. Make good picks and you can be featured on the homepage.
These are great features that should make participating simple and straight forward for users. Now will user picks become a source of investment advice? Most likely not, but still it adds interaction and gives value to each individual visiting the MarketWatch site.
I think this is a great move for MarketWatch, and I can already seeing myself spending more of my time discussing articles and giving my two cents worth.
Have you used the MarketWatch Community yet? What do you think about its future?