What is the overall mission of FierceMarkets? Has that mission changed since the acquisition by Questex Media Group?
Sean: FierceMarkets’ mission has always been to be the first place to turn for our readers and the marketers who are trying to reach them. We want to be their resource for the information they need to do their jobs. We have been working hard at that since the day the organization was founded, so our mission hasn’t changed one lick since FierceMarkets was acquired by Questex Media Group. In fact, the partnership gives us more opportunities in terms of deeper integration into other markets, such as the Asian market. For example, Telecom Asia is a Questex property that has strong presence in Asia, and has helped us offer marketers a one-stop global marketing solution
How long have you each been with FierceMarkets and in your current role?
Sean: I have been with FierceMarkets for five years and took over the role of president at the end of 2008.
Jason: I actually started out as our first salesperson back in 2001. My title has changed a few times since those early days, but my core responsibility to grow the telecom group has remained the same. I am now Group Publisher for our telecom publications.
What are you charged with accomplishing?
Sean: Despite our success, as a company, FierceMarkets has not yet reached its full potential. We are having a tremendous year growing revenue, earnings and audience numbers by a wide margin. We view Fierce as a growth engine in B2B media. My number one job is to lead that growth.
What is your vision for the company? How do you decide when and in which markets to launch new publications?
Sean: You’ll see us deepening in the industries that we are in and potentially launching in others. We started with one publication, FierceWireless, a long time ago and now have 29 publications, including five that we launched this year. We started as an email newsletter company and now are much bigger than that, offering websites, webinars, in-person events and virtual events. We want to keep on top of the markets we are in, serve readers in new ways by providing the tools they need, and penetrate new markets. We launched FierceMobileHealthcare a month ago and already have more than 5,000 subscribers, as well as good news flow on the site.
Most launches are driven by consumer and advertiser demand. For example, FierceMobileHealthcare is the intersection of two core verticals, healthcare and wireless. There is massive spending in the healthcare field now with the money the government is putting into it. Advertisers were asking us for a vehicle to reach potential customers in that segment. The markets tend to drive new product launches and tell us where we should go.
How and when do you decide to take advantage of other promotional opportunities with a specific newsletter’s target audience?
Jason: For us, it’s an intersection between audience information needs and sponsorship opportunities for advertisers. It’s not hard to find that information – all you need to do is ask! We regularly survey our readers, our advertisers, our partners and our employees. Some of our best ideas have been taken from those strong feedback loops. We receive a lot of feedback on our websites, readers communicating with our editors and asking us to talk about various subjects. If our audience is asking about a new product, usually there are sponsors interested as well. They go hand in hand. Audience demand will tell you where sponsor dollars are. All of our products are free for readers. Once we have established a presence in a community, we then focus on products like the webinars—we did 15 webinars this month alone—networking events, virtual events and executive summits.. We get a sense of the community asking for different things and we build to order.
How well are your virtual events doing?
Jason: They are doing well. We noticed at the beginning of the year that many companies were cutting travel budgets, so it’s tough for companies to send representatives to as many events as they would like. However, there is still a need and demand for that information. We are able to assemble high-level executives and put them in front of an audience in a virtual setting, so attendees still have the ability to network and ask questions of the panel and gather information. The interaction is valuable for everyone. From a marketing standpoint, you get all of the benefits of a webinar and many benefits of a live show – without the headaches of shipping a booth, coordinating flights for a team of booth reps, and losing time in the office due to travel. Since we’re able to track attendees within the environment, your sales staff gets more than a business card, they get information about how the attendees interacted with their information. This helps you sort through the leads efficiently and follow-up appropriately.
Who is your target audience?
Jason: We target the decision makers, the executives who are interacting with those out there engaging our tools. We tailor our products to an executive-level audience, and our demographics reflect that.
What plans or special programs have you implemented, or what are you in the process of rolling out?
Sean: From a product standpoint, we have launched five new publications in the last couple of months. We also had a recent virtual executive summit focused on Embedded Devices, and we have the virtual 4G Summit in the fall.
One area we are most proud of is our lead-generation system. We have really been focused on strengthening that platform and taking tools that will allow marketers to drive direct leads via our products. We launched a new version internally last week, and we are helping big clients, such as Google and Oracle, to serve campaigns through the system now.
Video is part of our portfolio as well. It’s another medium for our audience to learn about what top decision makers are saying. It has been an excellent opportunity to bring key executives in front of audiences that may not have had a chance to see them at a tradeshow.
How do you try to distinguish your publications and products from competitors?
Sean: The two things that distinguish us from many of our competitors is our vast experience in interactive advertising and our continued willingness to invest in the markets we serve. It’s no secret that it’s not an easy time in the publishing and media space now. We have eight years of online media experience. Because of this experience, we see a strong future ahead both for FierceMarkets and B2B media that, for better or worse, not a lot of other outlets are sharing right now.
Our view of the future is leading us to make continued investments. We recently hired Mike Dano, previously of RCR Wireless, and have just hired Sean Buckley, formerly of Telecommunications, as Senior Editor for FierceTelecom.
What do you see as the most impacting technology/trend for the next 12 months?
Jason: In telecom, there are a host of trends that are converging on one another. The first is 4G and the additional bandwidth it brings to the network. The second encompasses all of the applications that this new bandwidth currently and will enable. Third is the global reach that these companies and applications have. We are trying to position our products to capture those trends. Our partnership with Questex allows us to disseminate news and information and enables marketers to reach operators globally. Our interactive events have global platforms. For example, folks from China Unicom can interact with our tools and events.
What is one thing most people don’t know about FierceMarkets?
Sean: The breadth of
the firm and the integration of other vertical industries—not just telecom but much broader reach. We have the ability to serve companies horizontally and vertically.
What js keeping you up at night?
Sean: The thing that made FierceMarkets successful is the ability to innovate and be nimble. We are getting big now, and I want to make sure we don’t lose that nimbleness. We spend a lot of time making sure we continue to do find new ways to serve clients and readers.
If you werenjjt leading FierceMarkets, what could you see yourself doing?
Sean: What I love doing is helping companies grow. I would probably be running another company on the verge of doing great things, regardless of the industry. It’s either that or be on the grounds crew of the Washington Nationals right now, carrying a tarp during rain delays.
Jason: Nice! I actually used to help out the grounds crew at a minor league ballpark I worked at in West Michigan. Best summer job ever. I have a lot of friends who are now in the front office there, so I could see myself doing something like that. I would hate to leave the telecom industry though. I see such a bright future for it. I think I could see myself helping build community within the industry.
Who do you consider a role model or inspiration?
Sean: I like people who have ideas and get things done, like Thomas Jefferson or Thomas Edison. I like to hang around people who have new ideas.
Jason: I’m inspired every day by Sean’s leadership and guidance. Too much? Ok, ok. Last year, Martin Cooper spoke at one of our events, and I had a conversation with him about how he developed the first mobile phones. That was great. I find myself looking for today’s visionaries who share that ability to identify an opportunity and then doggedly pursue it.
What was the latest book you read?
Sean: Devil in the White City by Erik Larson, which tells the story of the World’s Fair held in Chicago in 1893. The book intertwines the true story of two men: Daniel Burnham and H.H. Holmes. Burnham, the chief architect and mastermind of the Exposition inadvertently created a perfect setting for Holmes, one of Americajjs first serial killers.
Jason: I just finished The Ascent of Money: A Financial History of the World by Niall Ferguson. It’s a GREAT book that puts some of today’s economic and political challenges into a historical perspective.