I worked at Apple during the 2008 financial crisis. Steve Jobs made it crystal clear to employees, customers, and investors that Apple would invest through the downturn. Instead of layoffs, Apple increased R&D spending and created a robust product pipeline for the eventual economic recovery.
History defines memorable leaders by their ability to:
It’s that second one that creates a truly historic leader, who has the ability to think strategically in the midst of a chaotic, fast changing environment.
We are working with a diverse group of companies managing the crisis while prepping their future. Let’s explore three examples:
Company #1: Unprecedented Traffic
Once-in-a lifetime traffic generated by their product which empowers people who work from home. Unlike other companies, they are managing the current demand, allowing for strategic planning for the eventual economic recovery.Unique data about the tsunami of users, provide insights why their users register, convert, and churn, so they can optimize the customer experience and boost revenue.
Company #2: Plummeting Engagement
A media company finds itself suddenly with a subscription product in stasis, because it is built around live audiences. Even though engagement is down, it’s not zero. They too realize that they have an opportunity to use this moment to gather new insight and learn how their business is impacted by a Black Swan event.
Company #3: Entering the Unknown
A new streaming service is preparing to launch. While managing the day-to-day priorities to get to market, their strategic thinking has already paid off. They are striking the right balance between what to build and what to buy externally. Many diverse tools are needed for their arsenal to help adapt and iterate quickly as they launch in a distressed economy.
Imagine if Apple had pulled back on R&D in 2008 along with layoffs. It’s hard to know for sure, but it’s not difficult to imagine a few years of stagnate products giving competitors an opportunity to catch up.
As a friend of mine often says, hope is not a strategy. As responsible leaders, we have a duty to think strategically and act decisively so we can help our companies rebound and our teams prosper in a stronger position than before.
Are you going to join the ranks of the smart companies who are investing through the moment or….becoming stuck by the moment?
If you are an app developer or company with mobile apps and are experiencing unprecedented traffic, plummeting engagement, or uncertain revenue…we are ready to help.
We have pioneered a solution that deploys Machine Learning (ML) models to increase subscriptions conversions, boost app revenue, and reduce churn. The models run on-device, so they are tailored for your app’s unique usage patterns, optimize your experience in real-time, and protect end user privacy.
If your traffic is high, Nami’s algorithms for iOS and Android can help accelerate the trends you are already seeing in engaging, converting, and retaining paying customers in your app.
If engagement is dropping, Nami can help you understand the key engagement signals that show a user is about to cancel their subscription so you can re-engage them to reduce churn in your app.
If you’re not onboarding many new users right now, Nami can still find cohorts that are interested in your product. Nami provides data and insights to help you figure out who those users are and use our ML algorithms to help you convert them into paying customers.
At a time where we’re all focused on our family and community, we make it easy to get started quickly. Our Nami SDK drops in and starts passively gathering anonymized training data. This means Nami is learning for your app while you focus on what’s most important.
Indie developers are having an especially challenging time right now. I know many of us are trying to support our favorite coffee shops, restaurants, and other small businesses. I’d ask that you consider also supporting one of the multitude of indie app developers who depend on the app economy.
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