What’s the first image that comes to your mind when you hear the word “Pivot”?
The right answer is the scene from Friends when Ross, Chandler and Rachel are carrying a couch up the tight stairwell into another apartment and Ross’ only instructions are to “PIVOT.”
So, what does it really mean to pivot your marketing strategy and how do you know when it’s time to do so?
Simply put, it means adjusting your marketing approach in response to changes in the market, your target audience, or your business goals. This might involve shifting your focus to a different marketing channel, adjusting your messaging or budget, or changing the way you engage with your audience.
Just think about 2020 and all the examples of businesses being forced to pivot their services and core structure.
- Employers learning how to manage their staff while working from home
- Restaurant owners offering take out options and dining outdoors
- Gyms and Trainers moving services and training online
- Musicians launching digital concerts and live streams
- Curbside pick up for retailers
These examples prove that no matter the roadblock, entrepreneurs and business owners will always find a way to pivot to ensure success.
In today’s fast-paced business environment, success often depends on your ability to adapt and change direction quickly. The same is true for marketing. In order to remain competitive and reach your target audience, you need to be able to pivot your marketing strategy when necessary.
Here are six tips to help you pivot your marketing strategy effectively:
Marketing Strategy Pivot: 6 Tips for Success
1. Always Pivot. Don’t Pause.
Pausing your marketing efforts can cause a loss of momentum for your team and performance online. It will make it more difficult to get your marketing efforts back on track when you resume. Pivoting your strategy allows you to maintain your marketing momentum and continue to make progress towards your goals.
So don’t throw in the towel and stop what you’re doing altogether. That will do more damage than good.
2. The Naysayers Do Not Deserve the Mic.
No matter what business or industry you are in, you are going to have your fair share of negative comments or reviews come across your screen. If you haven’t yet, hold on. The internet trolls are vicious and relentless.
For most of us, the negative comments are few and far between and oftentimes a totally isolated situation that can be quickly remedied after clarifying conversations and an apology.
It may feel natural for a business owner to quickly delete or hide negative comments or shut down all social media platforms altogether. This responsive pivot gives the naysayers the mic.
It’s important to approach negative comments or feedback with a level head and not overreact. Remember, a negative comment on one platform does not reflect the overall sentiment of your customers or the entire market.
Instead be open to feedback even if it stings. Use this feedback to make adjustments if needed and to improve your overall marketing performance over time.
3. Collaborate with a Team.
A successful marketing strategy requires collaboration and teamwork. Work with your marketing team to gather input and ideas, and make decisions that are in the best interests of your business.
It may be helpful to get an outsider’s perspective on a particular roadblock you’re faced with. The team at Crossroads helps navigate business owners from one success to the next! Contact us today and see how we can help you.
4. The Numbers Don’t Lie.
Don’t let your feelings navigate your marketing decisions. Always look at the numbers. Just because sales were down for one day doesn’t mean all your marketing efforts are garbage. There could be an outside, unavoidable factor that affected your business that day. Like the weather or a sporting event.
Measuring your data is crucial. How many clicks? How long are people staying on your site? How many conversions? Is your engagement and results stronger on Instagram vs Facebook? After evaluating your data and budget, then you pivot.
Regularly measure the results to your marketing efforts and adjust your strategy accordingly. Use data and analytics to inform your decisions and ensure that your marketing is effective and efficient. Measure then pivot.
5. What’s Trending?
To remain competitive, it’s important to stay up-to-date on the latest trends and developments in your industry. This will help you identify new opportunities for growth and stay ahead of the curve. Following what’s trending helps you know when it’s time to pivot your strategy.
You will need to follow some trends but still be true to your brand identity. Staying true to your brand identity is crucial, even as you pivot your marketing strategy to respond to changing trends and market conditions. Your brand identity is what sets you apart from your competitors and what your audience already knows you for. Even when we pivot, we still need to be recognized.
6. Know Your Audience.
Knowing when to pivot is all about knowing who your audience is. You have to ask yourself, “who are we talking to? Who is our audience?”
Understanding your target audience is the first step in creating successful marketing collateral. Make sure you have a clear understanding of their needs, where they are spending their time online, preferences, and demographics. Use that information to guide your marketing efforts. Design, messaging, and platform are all determined by your audience.
Before pivoting your marketing strategy, make sure you have a deep understanding of who you’re talking to, what their needs are, and what kind of content resonates with them.
You could survey your existing customers, gather customer feedback, or even interview potential customers to get a better understanding of their needs, preferences, and pain points. This will help you create marketing campaigns that are effective, efficient, and resonate with your target audience.
In conclusion, pivoting your marketing strategy can be challenging, but it’s also an opportunity to improve and grow your business. It may not be as easy as moving a sofa up a flight of stairs like our Friends but follow these steps you can effectively pivot your marketing strategy and reach new heights of success.
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