Fireside Chats with Fiery Entrepreneurs: Social Media Group

admin, November 22 2009

SMG was featured in a recent article on Springboarders Blog. Read the full story here!

“FM: Do you think it important for young, entrepreneurial companies to have a well-defined competitive position, target market and value proposition? Why?

MF: Yes, I do. Absolutely – without question – I think a young entrepreneurial company needs to have those things before they have anything else. Those are the first things you need. You need to understand who the competition is and align your value proposition against weaknesses in the competitive offer. That’s exactly what we did. We took a look around and realized there were a lot of Public Relations (PR) companies engaged in social media that didn’t particularly have ‘build’ capabilities, nor did they have marketing sensibilities in terms of ‘creative’. We also identified there were a lot of advertising and marketing agencies that were engaging in social media that didn’t understand the ‘relationship’ aspect of social media the way PR companies did. And additionally, for us there’s a real, identified need for business consulting-type requests around how you define what it is you’re going to be doing – that involved a lot of research and neither of those organizations were good at that at all. So we took a look at all three vectors of competition, bridged all of them and presented an offering that filled all of the holes in all of these traditional models. That was done within the first few months. We took a look at the competition and identified that those things were extremely important to our positioning…” read more