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How Companies Are Evolving and Pivoting Across the Globe

Those that innovate, pivot and provide connection during this time of isolation will continue to thrive. Don’t let COVID-19 put a stop to your hunger to add value.

 

 

VIRTUAL EVENTS AND THE GLOBAL ECONOMY WITH JEFF HOFFMAN

 

Our Utopia team had the honor today of spending time with Jeff Hoffman. This is an interesting time in our society with businesses and non-profits having to pivot and modify their business models. 

 Jeff’s accomplishments include:

A word from Jeff Hoffman, serial entrepreneur, Priceline.com, Proven CEO, Worldwide Motivational Speaker, Bestselling Author, Hollywood Film Producer, Grammy and Emmy Award-Winning Entrepreneur.

ENGAGING AND ENTERTAINING MEETINGS

Our ‘live from the living room couch’ meetings are becoming the norm. Companies are taking advantage of video conferencing to check in with colleagues, host meetings and connect with clients. Once the quarantine period ends, in-person meetings and events will resume. In the meantime, there are endless ways to make virtual meetings more engaging, interactive, unique and exciting.

Incorporating Live Musical Entertainment

Interactive Games Keep Everyone Engaged

Utilizing Audio & Video Switching Capabilities, Customize Your Look and Feel

VARIOUS INDUSTRIES AND EVENTS PIVOTING AmIDST COVID-19

CONCERTS

Why pay scalpers when the best seats are in your living room?  Musicians are learning the value in virtual events as well. It connects them to fans who may not have the means to attend concerts but now can watch live streams.  Those elaborate home theaters really get their test with live concerts. Livestream events won’t replace live concerts or theater, but it does create another revenue source; broadens reach to more fans and helps build a following.  Elton John’s living room concert is a testament to the value of online events. 

There are so many COVID-19 resources out there. 

how businesses are evolving

Restaurants

Restaurants that never considered take out meals nor delivery have changed their outlook.   Once the quarantine period ends – yes, they will reopen their doors to seated meals. But the pandemic has necessitated new avenues for revenue. 

Resourceful restaurants have survived by catering take out orders and offering delivery service – many of which never offered those services BC (Before Corona).   Some have expanded into upscale grocery service – filling orders for their meats and produce.

Small Businesses

A close peer of ours has a business with locations across the country.  His business teaches acting, etiquette, fashion, and modeling. Each of his locations provides administrative support and billing, sales teams, and curriculum instructors.   While his locations are locked down, they have gone virtual with all of those services. We asked him post pandemic – will he continue to support a virtual platform? His answer, “Support? …. not only support I’m negotiating closing brick and mortar locations as I’ve reduced my overhead; expanded my reach; and now employ only the select and best sales from my sales staff and curriculum instructors.”

Learning institutions

Alternatives to teaching methods open new avenues.  Prior, it was only higher learning institutions and colleges offering correspondence courses as an alternative.  Now both schools and businesses have learned to offer their curriculums through Zoom or other online portals.

Remember when you planned vacations around school breaks and summer solstice? 

Online methods for teaching will not be an exception for illness and pandemics going forward, but an additional form that allows you to advance your education at all ages.

GALAS AND FUNDRAISERS

Instead of looking to virtual events as a substitute they should be viewed as a supplement.  Nationally, non-profits already generate 25% of their revenue from on-line campaigns. Large events and small alike; galas, game nights, run/walks, expand their reach through streaming.

How will online virtual events benefit post Coronavirus? 

For one, online presence allows organizations to expand geographic reach into rural areas and to those that just can’t attend. It will allow donors another avenue to give and feel philanthropic without having to leave the comfort of home. 

Online campaigns will become another stream for new donor acquisition.

CONNECTION

Through this time of social disconnection and isolation, friends and family are finding more opportunities than ever before to reach out to one another. From virtual dinners and happy hours to Zoom game nights, we are spending more time with distant friends and out of state family members than we did when traveling was still an option. Celebrities are even joining in on the fun, hosting their late-night shows from home and sharing good news from around with world with their fans.

“My friend, Matt Bordofsky, turned 42 today and approximately 29 friends (and their dogs) showed up via Zoom to celebrate with him,” says Keren Poznansky, a publicist in Los Angeles. She noted that this celebration brought together friends from all across the globe— “the furthest person was from Lithuania.” 

-parade.com

Sarah Agajanian, an artist in Los Angeles, recently logged onto FaceTime to have her pal, Michele Hodeda, led her in a cooking class. “She taught me how to make mushrooms and walnut tacos. She’s an amazing cook. And it was such a cool experience! It really made the time go by quickly and truthfully felt like a full-blown hangout session,” adds Agajanian.

-parade.com

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