What will you ditch and what will you retain in your business when this crisis is over?
It is quite impractical to expect the same results when circumstances change.
A big deal of questions started popping out as we visualized the global and local situation rising. We had moved headquarters to Barcelona, Spain, only 2 years before, attracted by the big opportunities and the way of living in this steadily growing city; by then (funny as it sounds) its economy was practically based on Tourism, Entertainment & Gastronomy.
After doing the adjustments on the areas that needed to be put in hibernation (events, Tourism), we reorganized the staff and redistributed budget to Paid Media and Advertising of our online services.
We relaunched the Affiliate program, which showed an increase of 30% in subscribers.
We realised how important it is to diversify the clientele; the pitching from that moment on was broadened. And we also accelerated consultancy services, to take traditional businesses onto online business and e-commerce, for instance the several Show & Live Music Bars that we managed.
What opportunities do you see for the future of your business?
Collaboration, Diversification & Blending Traditional with Innovative. Several Corporations in Barcelona were forced to let go up to 60% of their staff, and they were put under government’s insurance programs. Probably in a 6-12 month period, hundreds of individuals will start their own enterprises, so we will witness a structural change in Global Economy: from a corporation system, probably back to intensive production and self employment, or to an association/cooperative based economy.
And now that Telecommunication and networking is almost at everyone’s reach, agencies face both the challenge and the opportunity to take part in balancing the visibility offer and demand. Sharing the knowledge and keeping updated as ever in any innovation, in this everyday faster paced society.
This new scenario is just another change for companies to face. Keeping our core values but being open to learn.