Kevin Zicherman
๐ค SpeakerAppearances Over Time
Podcast Appearances
We have installations in over 52 countries, and we saw just a massive drop in overall Wi-Fi usage.
Naturally, our Wi-Fi installations are in public spaces where guests gather and dwell, and that was almost illegal in most countries.
So yeah, we got hit pretty hard, and that has a ripple effect in our business because we don't sell directly to that end user.
We don't sell to that coffee shop or restaurant.
We sell to the MSP or the digital agency that services that restaurant.
So naturally, the domino effect happens where, hey, they don't get paid.
They come to us.
Hey, do we have to pay our bills?
And we were nice, and we extended free months for a lot of clients, extended 50% off for six months in many cases.
Our churn shot up to about 20.
We lost about 30% of our revenue alongside everything else.
I think that's kind of standard in the industry.
We were lucky to maintain a lot of that.
We actually pivoted indirectly to do a lot of work with the Cleveland Clinic, a lot of different medical offices that remained open that had traffic, unfortunately.
But we were able to not only offer great data, but also presence analytics, contact tracing, so a lot of new applications for Wi-Fi marketing.
The old world is no longer the current world, so we also had to change our product a little bit and how we apply it.
We have about 300 resellers.
We lost about 25% of our overall base.
Naturally, because we're a month-to-month in a lot of our products, people can easily drop off and come back.
The vast majority of everybody that's canceled has said, we love your platform.