There come times in business when a pivot is required.
Maybe your revenue streams dry up. Maybe you lose your passion for your industry. Maybe you become more motivated by a new direction.
Whatever the reason, pivoting doesn’t necessarily mean a full-stop, end-of-the-road finality. Instead it can be a point of evolution that allows your customers to come along for the journey.
What does it take to seamlessly execute this pivot, without losing your current base of customers? Many people are surprised to learn I was able to retain 90% of my followers and subscribers when I pivoted from a fashion label to a coaching business, nearly overnight.
Despite a change of revenue streams or messaging, there will be elements in your business which remain consistent moving forward. It is these consistent elements that can become the bridge for your customers to cross from the old to the new.
One such consistent element is you.
As the leader of your business, your customers likely resonate and connect with you. You can use this to your benefit by increasing your personal touch points and visibility during the pivot.
While my customers were impressed with my fashion skills, they were more connected with me and my passion than they were to what I did. They were able to witness my business being built from the ground up, from creating custom dresses all the way to selling on Zappos and dressing Tony Braxton. My personal brand and entrepreneurial journey were such a contributing factor, they naturally wanted to come along with me on the next adventure.
What parts of your journey do your clients connect with, and how can you use those points of resonance to inspire them to join you for your next chapter?
It’s also likely the core of your business will remain consistent. Even with changes in business offerings, revenue streams and organizational structure, your core values and your “why” don’t need to change.
During my pivot, my “how” and “what” changed while my “why” remained constant. In fact, my “why” actually deepened and became a more meaningful element of how I served my customers. This meant I was able to present my pivot as a natural next step to continue my life’s mission, simply with a different wrapping.
What are your core values and mission for your current business? What elements of these will you carry with you into your next chapter, and how do you communicate that to your customer—either directly or through your marketing?
Human beings don’t like to be surprised. People trust brands who communicate changes before they’re made public—not to mention it helps customers join in on the process. Let them be involved and have a front row seat; they will want to continue on the journey if they feel included in it.
Before you overhaul the public-facing elements of your brand, let your customers and clients in on what’s coming. A heartfelt letter can go a long way in giving people an intimate look at what changes are coming—and, more importantly, why these changes are being made.
How can you share with your customers the changes you’ll be making in a way that makes them feel included in the process?
If you’re thinking about introducing a pivot into your business, you don’t need to be afraid of losing your customers. Highlight the consistent elements of your business moving forward and invite them to go on the journey with you.
In the end, you will retain your customers and build even greater loyalty with them.
Bri Seeley @bri
The Entrepreneur Coach
I work w/ aspiring Millionaire$$ womxn to accelerate their destiny.
Long-term, sustainable success - on your terms!
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