VisuWall - Company Update, June 13, 2020
I hope you're well and managing through the chaos of today's political and health crisis. We've been "quiet" as we consider our new climate and what it means for VisuWall. Sending you a quick update of where we are:
VisuWall is undergoing a pivot.
Why are we pivoting? Since February of this year, VisuWall has gone from cooking w grease to wait a minute, our industry has not only paused, it will likely never be the same. Covid-19 has caused all brands to take a seat and reconfigure their advertising spends. People aren't buying out of home at the moment. It will recover, but not for some time.
What's the plan? The VisuWall app that we developed last year works and it works really well. The success and momentum we gained with Pink and Captivate at the end of 2019, prove that. The best way to repurpose our technology it is to consider a different use case. We looked at retail, specifically shopper marketing that fills an immediate need for retailers - VisuWall will provide measurement of the consumer journey from discovery to checkout.
Ok, What's the Go to Market Strategy? Target customer: Essential Retail - specifically convenience stores and grocery to license the VisuWall tech with a monthly saas fee per device.; Target benefactor: Consumer goods, direct to consumer goods - who want measurement that they typically do not get at retail. Using VisuWall they will now have access to sku level information tied directly to demographic data.
What about the VisuWall marketplace? There are so many storefronts available - why not continue to build that?
Well it's true, there are no shortage of windows available out there. Our plan is to work with retailers and help them monetize their window displays. But in all honesty we can't be all things to all people right now, so that's the next step in sales focus.
What about you, Kobi?
So the race conversation has been weighing heavy on me. I am also mad, weary and frustrated with the multiple layers of dialogue happening. It's rough but also necessary. In the spirit of hope, I believe we can collectively move the needle on economic equality which is at the root of so many socio-economic issues. I've spoken to so many friends and peers who want my pov - a Black/ Mom/ Entrepreneur/ Tech Founder's pov - on how to make company statements on diversity or what to consider and do to make real change. I initially posted my position on Instagram and I am active on Twitter as well. I've provided ideas and suggestions to schools, other founders, social media influencers, and heads of companies and I believe people are listening. It's not easy work, but I have and will continue to step up to support those that are willing to do the work.
More to come. In the meantime, stay healthy and you'll hear from me again in 4-6 weeks.