Despite this, owner Marko Elgart found a way to pivot his business to create a new entertainment format with Comics Quarantined.
Learn the 6 ways he pivoted his business to give his customers an entirely new and unique experience while providing a revenue stream that saved his business.
6 ways to pivot your business to create a new revenue stream using email
You don’t need to dramatically change your products and services to pivot your strategy during COVID-19. Instead, when you pivot, re-imagine your existing assets and talents to discover additional opportunities to grow your business. A pivot can be one main shift in your business or a few different changes that reframe the product you offer and how you market it to your customers.
Below are the 6 ways EastVille Comedy Club pivoted their business to create an additional revenue stream.
1. Consider how else your business can solve your customers problems.
After New York state closed all of the comedy clubs, Elgart saw a video of a comedian performing standup in an empty comedy club. The performance lacked one of the most important elements of standup — audience interaction. But it did give Elgart and an idea on how he could pivot his business.
Elgart created Comics Quarantined — a daily, live, interactive event. Two or three comics virtually interact with each other through Zoom. Comedians can see each other and the audience if they choose to turn their camera on on their computer or phone. The audience can interact with the comedians through chat. Comics Quarantined is always live and never pre-recorded to keep the experience authentic.
“It’s a very personal kind of connection that you normally wouldn’t ever be able to get. So it’s pretty cool. It’s a behind the scenes look into the comedy business. Giving people the socialization that social distancing has taken away,” says Elgart.
Question to ask yourself: Can you deliver your product or service electronically through an app, virtual tool, or streaming service?
2. Explore how you can expand using email to communicate with your customers.
Elgart’s email list became even more valuable now that his customer’s physical location is no longer an obstacle for connecting with his audience. Standup Comedy shows performed at his physical club in Brooklyn were primarily only of interest for his audience that was planning on visiting or living in Brooklyn. He can now utilize his entire list for the first time since he launched his business. The audience’s geographic location is no longer an issue. – Read more