During the life of your business, there may come a time when its necessary to pivot.
Whatever the reason, keep in mind that a product pivot isnt a cure-all or something to take lightly.
You should only consider pivoting when its clearly necessary.
But how do you know when its time to pivot your product?
Perhaps there is too much competition, and your product no longer stands out as an original solution.
These are all signs that its time to pivot.
You dont want to risk confusing or alienating your clients.
After all, theyre one of the most important parts of the pivoting process.
Heres a look at how it’s possible for you to keep your existing clients while pivoting your product.
Momentum and speed are essential in the success of your business.
A slow pivot can leave your company hanging in limbo and prevent it from focusing on your customers needs.
The need to pivot quickly is especially important if there are current trends towards which your customers are shifting.
Pivoting early also helps prevent wasted time, money, and effort.
The added bonus is that it also made the process easier on our product team.
Collecting and analyzing data is also a crucial part of pivoting a product.
Look at user data to learn as much as possible before changing your product.
Lastly, you should put your customers at the center of your product shift.
After all, they are the ones using it and they know it best.
I believe that listening to our customers is what keeps our product fresh and innovative.
So just be upfront what youd like to discuss and why youre doing it.
So once youve solidified this plan, then its time to communicate the pivot company-wide.
Be sure to discuss:
Communicating the product pivot to customers is the next step.
You should be receptive to feedback and be prepared to answer any questions that your clients may have.
When we pivoted our product, we learned the importance of aligning product and marketing teams.
For instance, changing too much of the product messagingbeforethe entire product has pivoted can be confusing to customers.
If youre updating things in phases, you dont want to over-promise your pivot.
Check-in continuously
Once youre done pivoting, youre not really done.
Its essential to check in with your customers regularly during a product pivot.
Regular check-ins save you time from getting things wrong and having to make last-minute changes.
A successful product pivot involves customers
Deciding to pivot your product is a massive deal.
As much as the changes are about the product, focusing on your customers during this time is key.
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Albizu is a serial entrepreneur with over 20 years of digital media and agency experience.
