Betsy Morgan, the Co-Founder of Magnet Companies, joined us live to share her perspective on the future of consumer behavior and the importance of finding opportunity amidst chaos. Her impressive media background (senior vice president at CBS News, to CEO of HuffPost), lends an incredible conversation about how we need to be innovative and what that means in the world of digital and TV.
In Magnet Companies, Betsy helps companies maximize their reach, engagement and revenue by focusing on consumer-oriented properties at the intersection of content, community and commerce. Betsy also sits on the boards of TripAdvisor, The Skimm, Trusted Media Brands, and ChartBeat.
Want to hear more of Betsy’s insights? Catch the full livestream here.
The Fast Five
After every Simulmedia Live episode we detail the most captivating minutes of the show that you need to hear. If you missed the show, we’ve got you covered with the essentials.
Here are your Fast Five.
1. Make your network a part of your brand.
Having a robust network professionally and personally not only forges trust, but can yield remarkable opportunities for brands. Being able to connect with others through stories or products is essential for businesses to thrive in a post-pandemic society.
2. Bring your brand to life through shared experiences.
A living brand has the power to spearhead new business ventures and opportunities. Betsy believes that companies that bring an interactive, shared experience to consumers will thrive in this marketplace. With so much changing, there are countless opportunities to innovate and shape a new future.
3. Find the obscure opportunities.
Betsy affirms that disruption is a perfect catalyst to think outside the box. She explains how linear TV networks, such as QVC, have quickly shifted their content angle to mimic the in-person shopping experience customers crave. Creating communities through TV, such as the one on QVC, could be key to real sustained change.
We couldn’t get to all of the live audience questions, so Betsy took the time to answer this last question after the show.
Question from James: Along with bikes as you’ve mentioned, the RV market is also tight with people taking to the roads to escape in their own safe pod. I’m wondering if this is another flash reaction to the times, or a durable trend. So that’s my question, any insight on how to spot a durable trend vs. what might be just a flash in the pan?
Betsy’s Answer: Our listener James is spot-on. Is it a durable trend? I think it might be. And here’s how I would think about it: it appears the pandemic has started to open up the RV market to folks who had not considered it before. So, people are buying or renting an RV to get them from point A to point B. And perhaps discovering in the process it is a fun and different way to travel. How great to stop at a rest-stop on the road and have lunch + a break in your comfy RV than in a crowded fast-casual restaurant.
Find out more about Magnet Companies here.
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