If anything, this past year has taught us the importance of being able to pivot when there are unexpected changes in circumstances in order to survive.
Pivoting your business means you taking a step back, looking at what is going on around you in the market, in the world, and adapting your business strategies to align with external factors in order to survive and thrive.
Some of the areas to think about and review when pivoting your business…
Marketing: Are potential customers still able to find/see you in the same way as before? If not think about where/how you can target them now?
Shopping Experience: Has the customer's shopping experience changed? What can you improve on to increase your conversion?
Product: Is your product still relevant? Get creative in thinking about how you can make your product relevant to what people are currently shopping?
Demand: Has demand increased or decreased for your product? Do you need to cut back or increase orders to accommodate?
Price: Has your consumer still got the same disposable income to spend on your product? Do you need to review your pricing strategy in order to increase sales?
Service: Are there any external factors that might prevent you from providing your usual customer services - make sure you are transparent and communicate with your customers on any changes they can expect?
I’d love to know if you’ve had to pivot your business this year and how you did it? Drop me a message in the chat.