Wednesday, March 30, 2016

Identifying Competitive Landscape in Murky Waters

As a public relations firm based in Pittsburgh, PA, it's tough to compete nationally, though all new markets are outside of the region. In my industry, it's often the case that it's not what you know, but who you know. Publicists working in Manhattan where nearly every major media outlet is housed have easier access to national media as well as celebrity-based clients that can lead to easily-landed media interview and thus, more relationships. Given this reality, and after reading the Competitor Analysis article, I realize it's up to me to define realistically what strategies will help my firm carve out a profitable niche in this dynamic marketplace.

I've been thinking intently on "what's coming next." The media landscape keeps changing drastically with the advent of new players (Huffington Post and other popular blog sites) and of course social media's unintended consequence of corporations' need for social-based crisis communications. On the flip side, social media offers an uncharted market niche for my company. I'm exploring ways now on how getting more technical when it comes to getting stories to go viral after media placement - will greatly increased my company's value to clients. The catch is making the time to re-jig, and effectively strategize and market this expanded offering. After all, I'd like to be thought about as the "potential competitor" to these big box national ad and PR firms who claim to do everything well. Carving a niche in this large sea of competition will be critical to future business growth.

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