ANNOUNCER: WELCOME TO BUSINESS/LIFE 360 WITH KRISTI K, WHERE WE GET TO KNOW THOUGHT LEADERS & INNOVATORS, TRENDS & IMPACT IN THE WORLD OF BUSINESS... AND -- WE SEE FIRST-HAND HOW BUSINESS AND LIFE HAVE EVOLVED!

ON THIS EPISODE, WE RE GIVING YOU AN INSIDE LOOK AT POST-PANDEMIC CORPORATE LIFE AND "THE NEW WORKPLACE LANDSCAPE."

AND NOW, HELPING US ALL LEARN, LEAD, AND GROW, IS OUR HOST, KRISTI K.!

KRISTI K: GREETINGS, AND WELCOME TO BUSINESS/LIFE360, AND WHAT AN EYE-OPENING SHOW WE HAVE FOR YOU ABOUT RESILIENCE AND GROWTH IN A POST-PANDEMIC WORKPLACE LANDSCAPE.

NO DOUBT, POST PANDEMIC, THINGS LOOK DIFFERENT, AND WE ARE EACH EXPERIENCING AND ADAPTING TO CHANGE IN UNIQUE WAYS.

SO ON THIS SHOW, WE GO INSIDE THE TOP GLASSWARE MANUFACTURER IN THE AMERICAS, LIBBEY TO TALK WITH CEO MIKE BAUER ABOUT HOW THE $700 MILLION CORPORATION HAS GROWN AND EMERGED FROM THE PANDEMIC.

ALSO, WE'VE WONDERED IF AND HOW COMPANIES HAVE BEEN ABLE TO MARKET THEIR PRODUCTS AND SERVICES DURING AND AFTER THE PANDEMIC.

SO WE'RE CATCHING UP WITH LEADING MARKETING, SALES AND LOGISTICS EXPERTS ON ALL OF THE TRENDS WE'RE LIKELY TO SEE EMERGING FROM COMPANIES AND CONSUMERS.

(MUSIC) ANNOUNCER: BUSINESS/LIFE360 WITH KRISTI K. IS MADE POSSIBLE BY THE JOHN B.

AND LILLIAN E. NEFF COLLEGE OF BUSINESS AND INNOVATION AT THE UNIVERSITY OF TOLEDO, DEVELOPING LIFELONG LEADERS FOR THE WORLD OF BUSINESS; PROMEDICA, A LOCALLY OWNED, NATIONALLY RECOGNIZED, NOT-FOR-PROFIT HEALTHCARE NETWORK THAT HAS A STRONG COMMITMENT TO CLINICAL EXCELLENCE, PROVIDING SAFE, HIGH QUALITY PATIENT CARE AND ADDRESSING SOCIAL ISSUES THAT IMPACT HEALTH; AND BY THE GREATER TOLEDO COMMUNITY FOUNDATION; ALSO BY VIEWERS LIKE YOU.

THANK YOU.

(MUSIC) KRISTI K: COME ALONG WITH ME, AND LET'S HEAD OUT TO LIBBEY WORLD HEADQUARTERS TO TALK WITH CHIEF EXECUTIVE OFFICER MIKE BAUER.

MIKE, IT'S GREAT TO BE WITH YOU HERE.

MIKE BAUER: THANK YOU, KRISTI.

KRISTI K: SO TELL US A LITTLE BIT MORE ABOUT YOUR CORPORATE BACKGROUND AND EXPERIENCE.

MIKE BAUER: SURE.

SO I'M THE CEO HERE AT LIBBEY AND I'VE BEEN HERE JUST OVER TWO YEARS, MARCH OF 2019.

PRIOR TO THAT, I WAS WITH FORTUNE BRANDS HOME AND SECURITY FOR ABOUT 21 YEARS.

THE LAST FOUR OF THOSE WERE AT MASTERLOCK, WHICH WAS THEIR SECURITY SEGMENT BASED IN MILWAUKEE, WHERE I WAS THEIR PRESIDENT.

AND THEN PRIOR TO THAT I WAS 17 YEARS WITH MOEN, WHICH IS THE FAUCET COMPANY BASED IN CLEVELAND, OHIO.

GREAT EXPERIENCE.

YEAH, FANTASTIC.

GREAT BRANDS, GREAT PEOPLE, GREAT CULTURES.

KRISTI K:SO HAVING SAID THAT, NOW YOU'RE HERE AT LIBBEY, GIVE US A SNAPSHOT OF LIBBEY: NUMBER OF EMPLOYEES, SOME OF YOUR PRODUCTS AND SERVICES, GLOBAL FOOTPRINT.

MIKE BAUER: SURE.

SO TODAY, LIBBY IS ABOUT A $700 MILLION ORGANIZATION.

WE HAVE SALES, YOU KNOW, WE'RE A GLOBAL COMPANY.

SO OUR SALES ARE THROUGHOUT THE WORLD.

WE HAVE ABOUT 5000 EMPLOYEES.

I'D LIKE TO SAY WE HAVE THE BEST BALANCE SHEET AND CAPITAL STRUCTURE IN THE INDUSTRY.

WE HAVE FIVE MANUFACTURING PLANTS AND A NETWORK OF GLOBAL SUPPLIERS THAT SUPPORT US AS WELL.

AND I THINK MOST IMPORTANTLY, WE HAVE REALLY A TREMENDOUS CULTURE.

KRISTI K:TELL US MORE ABOUT YOUR TRAVEL KIND OF HOW DOES THAT WORK NOW, PARTICULARLY POST-PANDEMIC.

MIKE BAUER: THAT'S REALLY JUST NOW OPENING UP.

SO, ME AND OTHERS ON THE TEAM HAVE BEEN TRAVELING DOMESTICALLY, FOR REALLY ONLY THE PAST, YOU KNOW, SIX OR EIGHT WEEKS.

I LOOK FORWARD TO WHEN THE GLOBAL TRAVEL OPENS UP.

I CAN'T WAIT TO GET TO OUR BUSINESSES IN EMEA AND ASIA-PACIFIC.

KRISTI K:SO LIBBEY HAS BEEN IN EXISTENCE FOR OVER 200 YEARS AND OBVIOUSLY HAS TREMENDOUS HISTORY AND A CORPORATE CULTURE THAT IS PRETTY PHENOMENAL.

SO, IT'S NOT A SECRET YOU HAVE RECENTLY BEEN THROUGH CHAPTER 11.

TELL OUR VIEWERS AND OUR LISTENERS A BIT MORE ABOUT THAT EXPERIENCE AND HOW YOU HAVE COME THROUGH THAT.

MIKE BAUER: THE PAST YEAR HAS BEEN CHALLENGING IN A LOT OF WAYS, NOT JUST FOR LIBBEY BUT FOR REALLY EVERYBODY, EVERYONE IN AMERICA AND REALLY EVERYONE IN THE WORLD.

SO OUR CHAPTER 11 REORGANIZATION WAS PRECEDED BY COVID AND THOSE TWO THINGS ARE INTERRELATED.

I'D SAY WHAT I'M MOST PROUD OF IS OUR PEOPLE AND HOW THEY REALLY PERSEVERED THROUGHOUT THE PAST YEAR, THROUGHOUT THE REORGANIZATION, AND REALLY HELPED POSITION LIBBEY, WHERE WE'RE AT TODAY, WHERE WE'VE EXITED, A HEALTHIER, STRONGER, I'LL SAY, YOU KNOW, HUNGRY ORGANIZATION THAT'S POSITIONED TO CONTINUE OUR GROWTH PROFILE AS WE GO FORWARD.

KRISTI K:NOW, THE CULTURE AND THAT RICH CULTURE YOU'VE HAD THROUGH THE YEARS, HOW HAS THAT TRANSFORM INTO TODAY'S CULTURE?

MIKE BAUER: WHEN YOU'VE BEEN AROUND, YOU KNOW, OVER 200 YEARS.

SO WE WERE FOUNDED IN 1818.

WE'VE BEEN HERE IN TOLEDO SINCE THE 1880S.

SO YOU CAN IMAGINE, YOU KNOW, THERE'S A STRONG, RICH HERITAGE OF PRIDE, WITH BEING PART OF LIBBEY AND WITH AN ORGANIZATION THAT HAS THAT KIND OF LONGEVITY.

AND WHAT WE'VE TRIED TO CAPTURE IS THAT, THAT NOD TO OUR HERITAGE, WE'RE ALSO EMBRACING OUR FUTURE, AND ENSURING THAT WE'RE, WE'RE FOCUSED ON WINNING AS ONE.

FOCUSED ON THE COLLABORATION IT TAKES IN TODAY'S WORLD, TO BE SUCCESSFUL AS A BUSINESS AND AS AN INDIVIDUAL.

AND I THINK OUR CULTURE HAS EVOLVED TO A BALANCE BETWEEN THAT HERITAGE, THE OPPORTUNITIES OF THE FUTURE, AND THAT, YOU KNOW, CONNECTEDNESS OR TOGETHERNESS AS ONE.

KRISTI K:WHEN THE PANDEMIC HIT, HOW DID YOU BEGIN TO NAVIGATE A NEW STRATEGY AND A NEW WORKPLACE ENVIRONMENT AS YOU LOOKED AHEAD?

MIKE BAUER: NO, THERE WAS NO PLAYBOOK.

THERE WASN'T ANYONE THAT HAD EXPERIENCED ANYTHING LIKE THAT PREVIOUSLY.

SO IT STARTS WITH HAVING AN INCREDIBLE SUPPORT SYSTEM.

FOR ME, PERSONALLY, I HAD A LOT OF SUPPORT WITH MY WIFE AND MY FAMILY, THAT ALLOWED ME TO REALLY, YOU KNOW, FOCUS ALL OF MY TIME AND ATTENTION ON THE NEEDS OF LIBBEY.

I WAS ALSO VERY FORTUNATE TO BE SURROUNDED WITH, YOU KNOW, A GREAT TEAM OF PEOPLE.

YOU KNOW, MY EXECUTIVE TEAM REALLY CAME THROUGH AND STOOD OUT.

EACH AND EVERY ONE OF THEM WITH DIFFERENT SKILL SETS, DIFFERENT PERSPECTIVES.

AND WE CAME TOGETHER AS A GROUP, BUT WE ALSO HAD TO RELY ON EACH OTHER TO KIND OF DIVIDE AND CONQUER AND MANAGE THEIR ASPECTS OF THE ORGANIZATION.

EARLY ON, WE FOCUSED ON THREE PRIORITIES THAT AS A TEAM, WAS OUR FOCUS.

AND WE ASKED THE ORGANIZATION TO ADOPT AS WELL.

THE FIRST PRIORITY WAS THE HEALTH AND SAFETY OF OUR ASSOCIATES, THAT HAS ALWAYS COME FIRST.

AND THROUGHOUT THE PANDEMIC, WE TRIED TO PUT THAT FIRST AND FOREMOST.

SECONDLY, WAS SERVICING OUR CUSTOMERS, OUR CUSTOMERS WERE GOING THROUGH THE PANDEMIC AS WELL.

AND THERE WAS AN EBB AND A FLOW OF DEMAND AND COMMUNICATION AND WHAT THEY NEEDED.

AND WE WANTED TO BE THERE FOR THEM.

AND THE THIRD PRIORITY, GIVEN THE CIRCUMSTANCES WAS TO MANAGE OUR CASH.

AND THAT'S WHAT WE FOCUSED ON AS AN EXECUTIVE TEAM.

IT'S ALSO WHAT WE, YOU KNOW, ASKED THE ORGANIZATION TO FOCUS ON AND WE WERE VERY TRANSPARENT, YOU KNOW, FROM LATE MARCH THROUGH THE END OF 2020, WITH WHERE WE STOOD ON ALL THREE OF THOSE DIMENSIONS, AND HOW THAT FOCUS CHANGED OVER TIME.

KRISTI K:NOW, YOU MENTIONED COMMUNICATION.

AND I CAN ONLY IMAGINE AS A GLOBAL CORPORATION, HOW DIFFICULT THAT MUST HAVE BEEN IN A PARTICULARLY VULNERABLE TIME, AS YOU SAID, NO PLAYBOOK.

HOW DID YOU BEGIN TO MANAGE COMMUNICATION STRATEGY AND TALK TO YOUR ORGANIZATIONS AND YOUR COMPANIES ACROSS THE GLOBE?

MIKE BAUER: YEAH, I MEAN, HONESTLY, THAT WAS ONE OF THE MOST DIFFICULT ASPECTS OF THE PANDEMIC AND OF 2020.

YOU KNOW, AS THE CEO, I WAS VERY CONFLICTED WITH, WERE WE DOING ENOUGH OF THE RIGHT COMMUNICATION AT THE RIGHT TIME.

AND ALSO THE MODE OF COMMUNICATION CHANGED.

YOU KNOW, WE WENT FROM TOWN HALLS WITH A ROOMFUL OF PEOPLE, TO ME IN A ROOM BY MYSELF STARING AT A CAMERA.

AND THAT WAS DIFFICULT TO TRY TO CONNECT WITH THE AUDIENCE.

AND THERE WAS ALSO YOU KNOW, THE PACE.

AS A PUBLIC COMPANY, WE HAD A QUARTERLY COMMUNICATION CADENCE, IT BECAME CLEAR THAT THAT WASN'T ADEQUATE WITH THE AMOUNT OF CHANGE THAT THE ORGANIZATION WAS EXPERIENCING, AND THAT OUR PEOPLE WERE EXPERIENCING.

AND SO WE HAD TO INCREASE THE CADENCE, DEAL WITH DIFFERENT FORMS, WHETHER IT WAS, YOU KNOW, A VIDEO LIKE THIS, YOU KNOW, SOME OF IT WAS WRITTEN COMMUNICATION, WE CREATED A COUPLE OF VIDEOS THAT, YOU KNOW, WE SHARED WITH PEOPLE AND PUBLISHED, SO WE REALLY TRIED TO COVER AS MANY FRONTS AS WE COULD.

AND THEN WE ASKED OUR MANAGERS TO CASCADE DEEPER INTO THEIR ORGANIZATIONS BECAUSE THE SMALLER GROUPS TEND TO BE MORE OPEN FORUMS THAN A LARGE FORMAT.

KRISTI K:SO LIBBEY IS ONE OF THE TOP GLASS MANUFACTURERS IN THE AMERICAS.

HOW DID YOUR SALES FORCE CHANGE AND SOME OF THOSE PRODUCTS THAT YOU WERE MARKETING, HOW DID THAT CHANGE AS WE STARTED AND HEADED INTO THE PANDEMIC?

MIKE BAUER: SURE.

SO TWO THINGS THERE.

FROM A PRODUCT STANDPOINT, WE DID SEE, YOU KNOW, DIFFERENT PARTS OF OUR BUSINESS CHANGE DRASTICALLY.

THE RESTAURANT SIDE OF LIBBEY, YOU KNOW, SHUT DOWN OVERNIGHT AT THE END OF MARCH, AND REALLY TOOK A LONG TIME TO RECOVER, WE'RE ACTUALLY STILL IN THAT RECOVERY.

ON THE OTHER HAND, CERTAIN CONSUMER ORIENTATED PRODUCTS SOLD THROUGH E-COMMERCE, SO THROUGH SOLD THROUGH RETAILERS.

YOU KNOW, GLASS BAKEWARE, GLASS STORAGEWARE, GLASS BEVERAGEWARE, THOSE THINGS STARTED TO TAKE OFF, AND OUR FOCUS SHIFTED TO, YOU KNOW, PRODUCING IT AND SUPPORTING THAT KIND OF DEMAND.

KRISTI K:WHAT REVEALED ITSELF TO YOU THE MOST IN TERMS OF HOW LIBBEY'S OPERATIONS WILL EVOLVE GOING FORWARD POST-PANDEMIC?

MIKE BAUER: YEAH, SO, YOU KNOW, WE SIT TODAY WITH FIVE MANUFACTURING PLANTS IN OUR SUPPLY CHAIN NETWORK.

AND EACH OF THOSE PLANTS IS MORE BUSY TODAY THAN I THINK THEY'VE EVER BEEN.

SO AS THE DEMAND HAS SHIFTED, AS WE'VE MADE SOME CHANGES TO OUR CAPACITY, THE REMAINING PLANTS IN PLACE, HAVE MORE VOLUME TO DEAL WITH.

SO THERE'S A LOT MORE GOING ON.

WE'VE MADE SOME TRANSITIONS OF EQUIPMENT, AND SO I THINK OUR PLANTS TODAY ARE BUSIER THAN THEY'VE EVER BEEN.

AND WE ANTICIPATE THAT CONTINUING TO BE THE PACE GOING FORWARD.

(MUSIC) KRISTI K: AND NOW WE WELCOME TO BUSINESS/LIFE360, DR. PAUL HONG, AN EXPERT AND DISTINGUISHED PROFESSOR OF SUPPLY CHAIN MANAGEMENTL.

IT'S GREAT TO HAVE YOU HERE AS ONE OF OUR GUESTS AND EXPERTS, AND YOU ARE A SUPPLY CHAIN MANAGEMENT EXPERT, AS WELL AS A DISTINGUISHED UNIVERSITY PROFESSOR.

AND YOU ALSO WORK I KNOW, IN ASIAN STUDIES, SO IT'S REALLY TERRIFIC TO HAVE YOU HERE ON THE PROGRAM.

ONE OF THE AREAS THAT I KNOW WHEN WE TALKED WITH THE CEO OF LIBBEY, MIKE BAUER, WE WERE DISCUSSING, IS THAT COMMUNICATION IS REALLY CHANGING AS IS TECHNOLOGY.

BUT WHAT ARE SOME OF YOUR THOUGHTS AS WE LOOK AHEAD TO CORPORATE LIFE AND THE WORLD OF COMMUNICATION MOVING FORWARD?

DR. HONG: TWO THINGS: ONE IS A WHAT ARE CALLED DECOUPLING TRENDS.

AND ALSO COUPLING TRENDS.

THE COUPLING TRENDS MEANS ELIMINATION OF LOT OF REDUNDANT WORK ON PRODUCT WORK, THOSE THINGS ARE ELIMINATED.

ALSO, THESE COMPANIES FIND THAT SECURING THESE, THE WORKERS OR THESE TALENTS ARE DIFFICULT, THEN THEY AUTOMATE USING ROBOTICS AND AUTOMATIONS.

BUT SO THIS COUPLING IS REALLY ALLOWING THESE COMPANIES TO HELP THE WORKERS TO BALANCE THEIR WORK AND FAMILY LIVES.

SO IN ESSENCE COUPLING THIS PROCESS GOING ON.

AND THEN ANOTHER ONE IS, I THINK THERE SHOULD BE A REAL INTEGRATION OF PRODUCTIVITY AND QUALITY AND DIFFERENT ASPECTS.

KRISTI K: NOW, AS IT RELATES TO DOING BUSINESS AND TO WORKPLACE RE-EMERGENCE POST PANDEMIC, WHAT ARE SOME OF THE TRENDS THAT YOU'RE SEEING, AS BUSINESSES START TO RE-EMERGE AND COME OUT OF THE PANDEMIC AND REALLY BEGIN TO DO BUSINESS AS USUAL?

DR. HONG: WHATEVER WAS GOING ON PRE COVID PANDEMIC, I THINK THE COVID PANDEMIC EXPERIENCE, ACTUALLY ACCELERATED WHATEVER THE TREND.

IT'S VERY EXPLICIT, VISIBLE AND MORE WIDESPREAD.

SO FOR EXAMPLE, COMPANIES TRIED TO USE THEIR DISTAL TECHNOLOGIES IN EVERY ASPECT OF BUSINESS, BUT BECAUSE OF THE COST, AND THEN THESE, THESE FACTORS, THEY ACTUALLY DIDN'T DO THAT.

BUT ALL OF A SUDDEN, THEY HAD TO USE ALL THESE REMOTE AND THE DISTAL TECHNOLOGIES EVERYWHERE.

SO THAT'S WHY THIS WIDESPREAD, THIS DISTAL TECHNOLOGY USAGE, WE'LL CALL DISTAL TRANSFORMATION IS REALLY ON THE WAY.

KRISTI K: TELL US MORE ABOUT THE IMPLICATIONS AND THE IMPACT OF TECHNOLOGY AND BUSINESS PRACTICES, FOLLOWING THE PANDEMIC.

DR. HONG: WHATEVER THE TREND WAS THERE IS BECOMING MORE ACCELERATED AND EXPLICIT.

SO FOR EXAMPLE, WE TALK ABOUT LET'S SAY, 5G, THE 5G AGE AND THAT THIS NEW, THIS VALUE CREATION THROUGH USING TECHNOLOGY LIKE A DRIVERLESS CAR, OR ELECTRIC CAR, THAT WAS REALLY THERE.

BUT THROUGH THIS, THIS PANDEMIC, I THINK, ALL THESE THINGS HAVE COME UP FOREFRONT, AND WE WILL SEE THAT DRIVERLESS CAR.

THAT'S WHY THE USAGE WILL BE MUCH MORE FELT MUCH FASTER THAN WE EXPECTED THROUGH THIS, THIS PANDEMIC.

KRISTI K: DR. HONG, IT'S BEEN A PLEASURE HAVING YOU ON BUSINESS/LIFE360.

THANKS SO MUCH FOR BEING OUR GUEST.

DR. HONG: THANKS FOR GIVING ME THIS OPPORTUNITY TO DISCUSS THIS IMPORTANT TOPIC.

KRISTI K: INDEED.

(MUSIC) THE WORLD OF ADVERTISING, MARKETING, AND COMMUNICATIONS HAS TURNED UPSIDE DOWN IN LIGHT OF THE PANDEMIC.

I'VE VISITED BARRY ROSEN, SENIOR VICE PRESIDENT OF COMMUNICA TO TALK ABOUT HOW THE MARKETING AND COMMUNICATION INDUSTRIES HAVE CHANGED.

BARRY, LET'S GET RIGHT TO IT.

THANKS FOR BEING HERE TODAY.

BARRY ROSEN : SURE, GLAD TO BE HERE.

KRISTI K : SO NO DOUBT WHEN THE PANDEMIC HIT, COMPANIES IMMEDIATELY HAD TO SHIFT, AND AT A MINIMUM, MAYBE EVEN RETHINK THE WAY THEY'RE DOING THEIR MARKETING AND THEIR ADVERTISING.

SO WHAT KINDS OF THINGS DID YOU SEE IN TERMS OF MARKETING AND SALES?

BARRY ROSEN: WELL, CLEARLY, THERE WAS A DRASTIC SHIFT TOWARD MOVING AWAY FROM THE PHYSICAL WORLD INTO THE VIRTUAL.

THAT'S NOT SOMETHING THAT WAS NECESSARILY UNEXPECTED, IT WAS, THINGS WERE MOVING IN THAT DIRECTION BEFORE THE PANDEMIC.

THE PANDEMIC, CERTAINLY ACCELERATED.

AND WE ALL BECAME FAMILIAR WITH HOW TO CONDUCT BUSINESS ONLINE.

AND SO COMPANIES HAD TO ADJUST TO THAT.

AND WHAT WE SAW, DEPENDING UPON THE ORGANIZATION, IF IT WAS A BUSINESS-TO-BUSINESS ORGANIZATION, THEN THEY LEARNED VERY QUICKLY HOW TO COMMUNICATE WITH THEIR CUSTOMERS, HOW TO ENGAGE WITH THEIR PROSPECTS IN NEW WAYS.

ON THE BUSINESS-TO-CONSUMER SIDE, YOU SAW AN EXPLOSION OF E-COMMERCE, AND COMPANIES TRYING TO FIGURE OUT HOW TO SELL THEIR PRODUCTS ONLINE, BECAUSE MANY OF THE PHYSICAL SPACES THAT THEY HAD WERE NO LONGER AVAILABLE.

KRISTI K: WELL, AND SO AS WE WERE SAYING EARLIER TOO, UNFORTUNATELY, SOME COMPANIES JUST HAD TO CLOSE THEIR DOORS, AND THEY REALLY COULDN'T CONTINUE WITH THEIR MARKETING.

BUT FOR THOSE WHO DID, AND THOSE COMPANIES THAT WERE ABLE TO KIND OF MOVE FORWARD, IF BUDGETS PERMITTED, WHAT DID MARKETING THEN KIND OF EVOLVE INTO?

BARRY ROSEN: WHAT WE SAW WERE COMPANIES THAT HAD PREVIOUSLY RELIED, FOR EXAMPLE, ON THE BUSINESS-TO-BUSINESS SIDE PREVIOUSLY RELIED ON FACE-TO-FACE SELLING, THEY HAD TO VERY QUICKLY FIGURE OUT HOW TO KEEP THOSE RELATIONSHIPS GOING, HOW TO KEEP THOSE CONVERSATIONS GOING.

SO, AS THOSE COMPANIES MOVED FROM THE PHYSICAL TO THE VIRTUAL, THEY STARTED TO INCORPORATE SOME OF THE COMMUNICATION TECHNIQUES THAT WE'RE ALL FAMILIAR WITH NOW.

BUT THEY ALSO HAD TO UNDERSTAND THAT A RELATIONSHIP THAT IS SUSTAINED VIRTUALLY REQUIRES SOME OTHER THINGS.

KRISTI K: FOR SURE.

AND WE'RE TALKING ABOUT CONSUMER BEHAVIOR AND KIND OF FOLLOWING THOSE PATTERNS AS WELL.

AND COMPANIES REALLY LOOKING TO SEE WHAT ARE THOSE NEW BEHAVIORS GOING TO BE LIKE?

AND HOW DO I MEET THOSE DEMANDS?

AND AS YOU POINTED OUT, TOO, THINGS LIKE BUSINESS-TO-BUSINESS AND TRADE SHOWS AND THINGS OF THAT NATURE, THOSE REALLY DID EVOLVE, DIDN'T THEY?

DO YOU THINK SOME OF THOSE STRATEGIES WILL PERSIST AND MOVE FORWARD NOW AS WE COME OUT OF THE PANDEMIC?

BARRY ROSEN: YEAH, I DO.

I THINK A LOT OF MARKETING IS CHANGED FOR GOOD.

I THINK THAT TRADE SHOWS ARE A GREAT EXAMPLE.

MANY COMPANIES, ON THE BUSINESS-TO-BUSINESS SIDE, HAD A LARGE PORTION OF THEIR MARKETING BUDGETS GO TOWARD TRADE SHOWS AND LIVE EVENTS.

WHAT THESE COMPANIES FOUND IN THE INTERIM, IS, MAYBE I DON'T NEED TO SPEND THAT KIND OF MONEY ON ALL THE EFFORT TO GET MY STAFF THERE, TO GET THE BOOTH THERE, TO GET MY EQUIPMENT, IF I'M SELLING EQUIPMENT.

IT'S A BIG TO-DO.

YEAH.

AND SO THINGS LIKE VIRTUAL TRADE SHOWS HAVE COME UP.

AND SOME COMPANIES HAVE BEEN ABLE TO REPLICATE SOME OF THE EXPERIENCE OF BEING AT A TRADE SHOW, THROUGH SOME REALLY INTERESTING MARKETING INNOVATION.

KRISTI K: AND NOW YOU'RE TALKING ABOUT PRODUCT AND SERVICE ORIENTED TYPES OF COMPANIES, WHEN WE'RE TALKING ABOUT THAT IN TERMS OF MARKETING, WHAT ARE CONSUMERS LOOKING FOR FROM THEM, THAT THEY MAY NOT HAVE BEEN LOOKING FOR PRIOR TO THE PANDEMIC?

ARE THERE CERTAIN KIND OF CHARACTERISTICS OF THESE COMPANIES THAT CONSUMERS ARE DEMANDING NOW?

BARRY ROSEN: WE'VE BEEN CONDITIONED AS CONSUMERS BY AMAZON AND NETFLIX TO MAKE BUYING SO EASY THEY UNDERSTAND WHAT WE WANT.

YEAH.

AND THEY SUGGEST THE NEXT THING WE MIGHT LIKE, AND IN ONE CLICK, I CAN MAKE ALL OF MY PURCHASE DECISIONS.

AND I DON'T HAVE TO LEAVE MY ROOM.

KRISTI K: WHAT ABOUT SOCIALLY CONSCIOUS COMPANIES, MORE SUSTAINABLE COMPANIES?

ARE CONSUMERS LOOKING FOR THAT?

BARRY ROSEN: CONSUMERS, PEOPLE, EMPLOYEES, ALL OF US ARE MUCH MORE CONSCIOUS OF A COMPANY'S CORE VALUES.

AND IT'S A QUESTION THAT MANY CONSUMERS ARE ASKING THEMSELVES ABOUT THE COMPANIES THEY DO BUSINESS WITH.

IS THIS THE KIND OF COMPANY I WANT TO DO BUSINESS WITH?

KRISTI K: WHAT IS YOUR ADVICE TO THOSE COMPANIES FROM A MARKETING PERSPECTIVE, IN TERMS OF BEING ABLE TO GAIN A TRUST THAT THEY MAY HAVE LOST IN THE PANDEMIC OR MAYBE DIDN'T HAVE A REAL GOOD FOOTHOLD ON IF YOU WILL, PRIOR TO THE PANDEMIC?

BARRY ROSEN: YEAH, WE ACTUALLY HAVE A TERM FOR IT, IN OUR AGENCY, WE CALL IT THE INTENSIFICATION OF TRUST.

AND IT IS, ALONG WITH THE MOVE FROM PHYSICAL TO VIRTUAL, THE INTENSIFICATION OF TRUST IS THE NEXT BIG CONCEPT THAT HAS COME OUT OF OUR RECENT SITUATION.

SO HOW DO COMPANIES CREATE THAT TRUST?

THEY FIRST HAVE TO BE CONSCIENTIOUS OF IT, LIKE WE DISCUSSED, CONSUMERS ARE THINKING ABOUT IT.

SO THE WAY TO DO THAT IS TO BE RELEVANT TO THEM.

SO, MANY BUSINESSES HEAR THE TERM CONTENT QUITE A BIT.

AND CONTENT REALLY IS CRUCIALLY IMPORTANT, BECAUSE IT IS, IT IS REPRESENTATIVE OF THE KIND OF ORGANIZATION YOU ARE.

THE KIND OF CONTENT THAT YOU ARE ASKING YOUR CUSTOMERS TO ENGAGE IN.

THAT IS SOMETHING THAT YOU HAVE TO GIVE A LOT OF THOUGHT TO, IN TERMS OF HOW IT'S REPRESENTING NOT ONLY THE PRODUCTS YOU SELL, BUT YOUR COMPANY.

KRISTI K: IN TERMS OF "HEY, TAILOR-MAKE THIS FOR ME, FOR MY DEMOGRAPHIC, FOR MY GEOGRAPHY," WHATEVER THAT MAY BE.

SO YES, I CAN ONLY IMAGINE WITH SOME OF THE DECENTRALIZATION OR NICHE MARKETING, IN THE MEDIA OR IN DIFFERENT STORES, TELL US MORE ABOUT HOW COMPANIES CAN REALLY REACH THOSE CONSUMERS IN THOSE NICHE WAYS AND HOW THEY ARE DOING.

SO IN TERMS OF YOU KNOW, TAILORING EVERY EVERY PURCHASE, AND EVERY PRODUCT TO THE NEEDS OF THAT CONSUMER.

BARRY ROSEN: YOU ACQUIRE DATA ON YOUR CUSTOMERS ABOUT THEIR LIKES, THEIR PREFERENCES, THEIR NEEDS.

AND THEN THERE'S ALL KINDS OF TOOLS THAT ARE NOW AVAILABLE, TECHNOLOGY-WISE, TO ENABLE YOU TO ACT UPON THAT.

SIMPLE EXAMPLE, THERE ARE WAYS THAT YOU CAN PERSONALIZE A WEBSITE SO THAT WHEN YOU, BASED ON YOUR RELATIONSHIP WITH THAT COMPANY, VISIT THAT WEBSITE, YOU MIGHT HAVE A DIFFERENT EXPERIENCE THAN WHEN I VISIT IT, BECAUSE I MIGHT HAVE PURCHASED DIFFERENT PRODUCTS OR SHOWN AN INTEREST IN DIFFERENT THINGS THAN YOU DID.

OR I MIGHT EVEN BE, IT MIGHT EVEN BE BECAUSE I'M IN A PHYSICALLY DIFFERENT LOCATION THAN YOU ARE.

SO PEOPLE FROM CALIFORNIA MIGHT SEE, YOU KNOW, ONE EXPERIENCE ON A WEBSITE, WHILE PEOPLE IN OHIO MIGHT SEE MIGHT HAVE ANOTHER, THOSE TOOLS ARE ALL AVAILABLE.

AND SO COMPANIES REALLY ARE MOVING TOWARD A MORE PERSONALIZED EXPERIENCE.

AND ANY WAY THAT THEY CAN USE THAT DATA TO THE BENEFIT OF THE OF THE CUSTOMER, RIGHT?

BECAUSE IF THEY'RE NOT USING IT TO THE BENEFIT OF THE CUSTOMER, THEN WE START HAVING A LOT OF PUSHBACK, AND THEN WE START GETTING INTO OUR PRIVACY ISSUE.

KRISTI K: YES, THIS IS A FASCINATING LOOK AT MARKETING, SALES, HOW PRODUCTS AND SERVICES NOW KIND OF POST-PANDEMIC ARE REALLY REACHING CONSUMERS AND MEETING THOSE EVERY BEHAVIORS AND KIND OF THEIR NEEDS.

SO BARRY, THANKS FOR TALKING FUTURE TRENDS WITH US TODAY.

YEAH, ABSOLUTELY.

MY PLEASURE.

THANK YOU.

AND NOW IT'S TIME FOR BUSINESS/LIFE360 IN 60.

LET'S GET TO SOME EXCITING, QUICK HITTING QUESTIONS AND ANSWERS TO GET TO KNOW OUR GUEST CEO FROM LIBBEY, MIKE BAUER, A BIT BETTER.

KRISTI K: OKAY, MIKE, THIS IS WHERE WE DO SOME QUICK QUESTIONS AND YOU GIVE ME QUICK ANSWERS AND IT HELPS OUR LISTENERS AND OUR VIEWERS GET TO KNOW YOU A LITTLE BETTER.

ARE YOU READY?

MIKE BAUER: ABSOLUTELY.

KRISTI K: OKAY, LET'S DO THIS.

WHAT MAKES YOU THE MOST EXCITED WHEN YOU COME TO WORK EVERY DAY?

MIKE BAUER: WHEN I COME TO WORK?

I LOVE MY JOB.

I LOVE THE OPPORTUNITY TO BE PART OF THE LIBBEY ORGANIZATION.

KRISTI K: FAVORITE AFTER WORK ACTIVITY.

MIKE BAUER: COOKING DINNER WITH MY WIFE.

KRISTI K: MOST IMPORTANT CORE VALUE.

MIKE BAUER: FOR LIBBEY, I THINK IS OUR "WINNING AS ONE TOGETHER."

KRISTI K: IF ONE OF YOUR HIGH SCHOOL TEACHERS COULD DO YOUR PERSONALITY PROFILE, WHAT WOULD IT SAY?

HE WAS.. MIKE BAUER: HE WAS UNIQUE.

KRISTI K: I'LL TAKE THAT.

WE'LL TALK ABOUT THAT LATER OFF CAMERA.

THE MOST USED LIBBEY PRODUCT BY YOU.

MIKE BAUER: THE IMPRESSIONS GLASS.

KRISTI K: YOUR BEST GO TO SONG EVER.

MIKE BAUER: IT'S PROBABLY A TODD RUNDGREN SONG, JUST ONE VICTORY.

KRISTI K: DESCRIBE MIKE BAUER IN 25 YEARS.

MIKE BAUER: IN 25 YEARS?

OLD, RETIRED, AND HOPEFULLY PLAYING WITH MY GRANDCHILDREN.

KRISTI K: SO NOW YOU GUYS KNOW A LITTLE BIT MORE ABOUT MIKE BAUER, THE CEO, AND WHAT MAKES HIM TICK ON BUSINESS/LIFE360 IN 60.

KRISTI K: TRANSITIONS, NEW ENVIRONMENTS, PIVOTS, ADJUSTMENTS AND GROWTH.

ALL HAVE BEEN VERY DIFFICULT AND MANY OF US HAVE BEEN FOREVER CHANGED THROUGH IT ALL.

IT'S REFRESHING TO SEE US COMPANIES SUCH AS LIBBEY, AND MANY PRODUCT MARKETING AND LOGISTICS TEAMS EMERGING STRONGER, EMBRACING CHANGE AND THRIVING AGAIN, POST-PANDEMIC.

THAT'S A WRAP ON THIS EPISODE OF BUSINESS/LIFE360.

I'M KRISTI K, REMINDING YOU TO BLEND YOUR TALENTS WITH YOUR PASSIONS FOR SUCCESS.

ANNOUNCER: CONNECT WITH KRISTI K ON LINKEDIN AT KRISTI K HOFFMAN AND HEAR THE BUSINESS/LIFE360 CONVERSATION ON FM 91 ON THURSDAY MORNINGS.

ANNOUNCER: BUSINESS/LIFE360 WITH KRISTI K IS MADE POSSIBLE BY THE JOHN B.

AND LILLIAN E. NEFF COLLEGE OF BUSINESS AND INNOVATION AT THE UNIVERSITY OF TOLEDO, DEVELOPING LIFELONG LEADERS FOR THE WORLD OF BUSINESS; PROMEDICA, A LOCALLY OWNED, NATIONALLY RECOGNIZED, NOT-FOR-PROFIT HEALTHCARE NETWORK THAT HAS A STRONG COMMITMENT TO CLINICAL EXCELLENCE, PROVIDING SAFE, HIGH QUALITY PATIENT CARE AND ADDRESSING SOCIAL ISSUES THAT IMPACT HEALTH; AND BY THE GREATER TOLEDO COMMUNITY FOUNDATION; ALSO BY VIEWERS LIKE YOU.

THANK YOU.

(MUSIC)