pivoting for business

5 TIPS WHEN PIVOTING YOUR BUSINESS

Covid-19 hasn’t been easy for business owners. In light of all the world changes, many business owners have opted to pivot their business. While this can be a great marketing strategy, there are some things you should keep in mind when pivoting your business.

1. Go slow when you start rolling out your pivot

Don’t change your entire business model and expect your hard-earned audience will be instantly on board with your pivot. Go slow and roll out changes strategically. Planning ahead will make the entire process easier.

2. Keep your audience in the loop

You need to communicate changes so that your audience isn’t surprised, confused or upset. You can lose clients and customers during a pivot. However, if you are upfront you will often see those loyal to your business will keep supporting you.

3. Rebranding isn’t always needed when pivoting

While a pivot can call for a rebrand and a new content strategy, you want to examine whether or not this is required. If you are returning to the same operations pre-pandemic down the road, you might want to provide a new service rather than a whole rebrand.

4. Plan ahead with new content

If you have decided you are pivoting, you will need additional content at each stage of your pivot. From email marketing to blogs to social media, there are many different pieces of content you will need to create to help you successfully pivot.

5. Market research is crucial when you are pivoting

The last thing you want to do is pivot your business and find out that nobody needs your new service or product offering. Even small businesses need to keep this in mind. Market research sounds scary to a lot of business owners but it doesn’t have to be. With so much data online it is easier than ever to figure out what direction would be best.

Recently, I created the group, The Pivot – An entrepreneur community, because I wanted to provide a place where business owners who are shifting can come together to support each other.

In it, I have been providing tips and tricks for business owners so they can pivot successfully as well as support small businesses. If you are pivoting this year or are thinking about it in the future and want some guidance please feel free to join us for connection, ideas and inspiration.

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