The adoption rate of web conferencing software Zoom has a surging demand during this lockdown period of Covid-19. There is a profusion of cloud software names that also see an increase in demand for their services and the soaring stock prices to match. These companies adopt new strategies to built stronger leadership positions in their respective categories as they grow in stature.
The video conferencing software maker Zoom Video communications Inc. follows a philosophy of not growing very fast. Eric Yuan, CEO of Zoom has once told in an interview that their main objective is to make their existing customers happier and satisfied so they never aggressively pursue new prospects. However, with the extended lockdown period due to Covid-19, there is a supercharged demand for the web conferencing software which is quite ironic to the statement of the CEO of the company in early 2017.
There is a transition of the corporate world to work at home with the help of video conferencing software like Zoom. Students who are also forced to stay indoors now rely on Zoom to attend their online classes. Even though the tech giants are trying to squash them with strong moves, Zoom has not faced any negative impact on their results in this Covid-19 period. The previous month, Google added “add Google Meet Video Conferencing” for the google calendar users with appointments along with Google meet which is accessible for any person with a Gmail account.
Microsoft, with its Team products, capitalize on the
security concerns with Zoom. From the April Quarter sales report posted by
Upstart, Zoom shares have risen to 5% adding a year to date gains which already
topped 200%. Zoom’s history of marketing strategy reveals that they always had
a simple strategy that mainly focuses on prioritizing existing customers
requested features. The company that is built on a customer-employee centric
provides a much higher quality
video with free forty minutes call service (which can be restarted
easily after forty minutes) along with customizable backgrounds.
The cloud software names that experience an
increased adoption rate for their services are also excited with their early
innings in the growth curve this year.