Nacka Strand, 11 February 2016: Trig Social Media AB has commenced an operational business structure improvement program with the aim to increase market and customer focus. The program is focused on product based subsidiaries and its implementation is now under way.
This change will allow for each product to have a core team responsible for its success and will remove the product “Cinderella effect”. A further decision has also been made to potentially open product focused subsidiaries in other regions if this eases the entry barriers in those markets, primarily through joint venture arrangements.
As a part of this strong drive and in order to enhance the group’s offering, Trig Social Media is also currently considering investing in new and existing social media business, exploring the so called “gig economy” and online royalty companies. This will generate passive income as well as provide the group with opportunities for cross-selling and addition of Value Added Services. Any such investments will be made to compliment and improve the company’s current product and customer offering mix.
Trig Social Media is also further fine-tuning its Fusion concept of product marketing and is expecting to launch this over the next 5 weeks. Fusion was originally supposed to be launched last year but it was decided that the concept was not yet ready to go live as it was not taking into account cultural differences in its targeted market regions. The new Fusion will instead be a region tailored offer, more in tune with the local “wants and needs”.
All these improvements will refocus Trig’s products on their users. Something that the board of directors feels is a key success factor for the business. It is expected that this will result in stronger corporate finances and substantially increased business growth.
The board is also intending to increase corporate communication frequency and reporting which they acknowledge has recently been moderate. To further support the new operational approach and improve the group’s finances, the management team has agreed to convert some of the company’s debt to them into equity, further underlining the management’s commitment to the success of Trig Social Media.
These are the first of many changes that the newly elected board anticipates taking place in the near future. The company is still facing many challenges but it is now actively taking steps to address these.