Professional Diversity Network, Inc, a developer and operator of online and in-person networks that provide access to networking, training, educational and employment opportunities for diverse individuals, announces a strategic shift in the underlying business model for the International Association of Women (“IAW”), a business unit of the Company.
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“We are implementing a strategy that will lead to better product offerings for our members and a better performing business overall,” said Adam He, CEO of PDN. The Company made the decision to pivot the IAW business unit in advance of launching a new website and committing to an online membership acquisition model utilizing ecommerce-centric technology to replace the previous telemarketing business model. This strategy is expected to boost productivity and reduce cost; the shift is essential when aligned with the Company’s overall long-term strategy around seeking to maximize profitability as we enter into the era of virtual and remote working environment. As part of the transition in strategy, IAW has adjusted its workforce, downsizing by nearly 50%. “We believe we have a lean, efficient team in place that is positioned to effectuate the change necessary for IAW to succeed,” said He.
“The increased transparency in member and lead engagement provides us with invaluable insights to refine our product offerings that better cater to our members’ needs,” He further explained.
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