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Since taking the helm in August, OpenTable CEO Debby Soo has decided to take an alternative approach with her company’s sinking financials.
Instead of figuring out how to quickly increase revenue, the primary focus of any publicly traded company, her strategy lies in positioning the company alongside fellow businesses who are also struggling.
By waiving subscription and diner fees through 2021, Soo ensures that its clients know OpenTable is aligned with their interests and makes sure they are offered meaningful support compared to its restaurant tech brethren.
With 1 in 5 restaurants expected to close this year, OpenTable understands that owners are relying on as much help as possible to survive.
An interesting play within an industry that is plagued by uncertainty. By positioning the business alongside those struggling, Soo is effectively building client loyalty by fighting in the trenches with them. This not only builds employee morale by tying their work to a greater purpose, it helps clients remember who was there for them when it mattered most.