Where Is Consumer Attention Going Right Now? | Marketing For The Now Episode #14
This is Gary v Audio experience. Back to marketing for the now two point. Oh. Gary, it sounds like you already before you ready now to just dive right in. How that video and then literally when you asked me there and that was the video part I literally sat here while taking client issue on Andrea and said I'm always ready. and. The lineup Kudos to you and the team today's a remarkable day. Hello everybody I know were streaming these on all my channels. So let me say what's up to the beaner nation very very fast paced the way I like it off of something very specific. You can see this up here right now the question of the day injured I don't know if there's anything else you WanNa do is going but I know. This is going to be massively rapid fire at a very excited about it. Yeah. You got that right. The only thing is we love everybody to chime in with any kinds of questions. So hashtag marketing for the now in we're going to just jump right in I. Stop we've got none other than Kevin O'Leary. He's not only the Star of ABC's Shark Tank. He's inactive photographer, a watch collector guitarist, an author of. Three number one bestselling books, welcome Kevin Great to be here. Thank you so much. Kevin it's real real real pleasure to have you here. First of all have you done through this pandemic both on a personal level and maybe a macro? Business level. Because this pandemic has created a lot of winners and losers. It's been very all over the place you have a vast portfolio. How were you and then come? How is Your Business World Well Gary that is the question for everybody in America today you're right there are winners and losers, but you know personally I'm adjusting just like you are to living world in in a digital way every day I communicate as we are right now and all of my companies I've over fifty portfolio companies now. Have gone through this incredible transition to what I call the Digital Pivot America two point Oh the ones that have survived. You know first of all, we've we've gone through this seven months. Now have been able to tell a story online shift direct to consumer sales become very proficient at logistics and have been able to just take away what they lost from retail sales and sold direct to customers. So in this crazy outcome that I have never foreseen eighty percent of the portfolio, even though revenues are down are actually ahead of free cash forecasts. Because they've gone from just doing ten percent direct to consumer doing forty to fifty percent direct consumer at almost one hundred percent gross margin, and they've saved their companies. Now, the ones in travel the ones in entertainment, the movie theater businesses the wedding. Those, those the live events stuff. I'm sorry they're going to zero and that's twenty percent of my portfolio but eighty percent. That's fantastic. They're going to make it. So let let's free up the question that this whole show is going to be about and we have an incredible lineup starting with you. We're we're is the customer's attention. How do you sit this? Is that question and what is the answer? Well, never in our lives Gary have we had the opportunity to have such a captive customer they are sitting at home just like. You and I are they're looking to be entertained communicated with they are willing and able to purchase products and services but they wanted done conveniently and delivered directly to them.