It’s a rainy Sunday afternoon and my daughter needs to drive an hour to return the car she borrowed from her brother. Being unfamiliar with the local roads, she asks her dad which route he usually takes. He shows her the route he usually takes. She says – but that’s not the way I went last time. Her dad explains that the reason he takes that route is because the roads are in much better shape taking the directions he mentioned.
When considering which ROUTE you’re going to travel, sometimes there are other factors to consider. For ‘dad’, it wasn’t just the time travelled but the conditions of the roads.
Let’s apply this to your business. If you haven’t heard of the word ‘pivot’ when it comes to businesses these last few weeks …. well perhaps you haven’t been reading online. To pivot your business means to change its direction.
When we change direction and travel a different route – there are many things to consider!! Perhaps you’ve been asking – what should I change? What should I pivot?
Here are 5 critical factors to consider when pivoting your business.
1. Pivot your message (and your marketing)
Every business needs to make at least a slight pivot these days in their messaging. If you’ve watched any television, you are seeing some companies pivot their commercials by saying they’re open; others saying they are just here for you; others announcing new products or services. My messaging has changed – I’m helping business owners market in this ‘new economy’!
What your new message?
2. Pivot your offer (including price)
Your prospects have new problems today. It might be that they are suffering from loss of income; loss of clients; uncertainty; overwhelm; home schooling children; etc. A new problem might mean a new problem for you to solve.
Is there something in your core offer (signature program) that you can adapt to offer to your dream client. It’s not always necessary to create a NEW offer but– how can you take something old and put it in a new wrapper? In my case, I created a ‘new’ program entitled Marketing Roadmap Intensive (MRI). It’s a new wrapper on a trimmed down program that used to be called Achiever’s Club.
What’s your new offer?
Let’s talk pricing. Don’t believe the common myth that people don’t have money and that people aren’t buying!!! There are always people with money and always people buying!!! My recommendation is that you might price your new offer as a SPECIAL price. You could even say that the normal price would be X but you are feeling generous and the price is going to be Y. This way you aren’t creating a discount brand.
When I opened Marketing Roadmap Intensive, in late March, I was very truthful informing prospects that this would never be offered at this price again (and it won’t).
What’s your new price?
3. Pivot how you attract (or capture prospects information)
The way that you attracted clients today may not be the same as the way you attracted them in the past! In my case, most of my clients come from speaking engagements – now they are done virtually. Speaking virtually required me to hone some new skills to create an engaging audience!
How do you attract clients? Will it have to change, adapt, pivot?
4. Pivot how you cultivate your prospects.
One of the biggest changes that I see business owners making during this time is that many of them are realizing that they desperately need an email list – in a hurry! An email list is still the most cost-effective way to communicate with your prospects; to build that know-like-trust.
How do you grow your email list in these times? If you have a lead magnet (freebie, opt-in) ask yourself if it is attracting new leads/prospects? If not, perhaps now is the time to create a new one or to re-vamp the old one! (Clients in the Marketing Roadmap Intensive are helping each other create new lead magnets!).
Another way to cultivate your prospects is through social media. Having an engaging FB group is a great way to build that K-L-T factor! (Are you a member of my fb group – SHIFT YOUR BIZ – https://www.facebook.com/groups/643391035802616
5. Pivot how you convert your prospects into clients.
Converting prospects into clients can be done a number of ways but most of us use ‘discovery sessions” and follow a very specific format for conversations that convert!
Other ways to assist with the conversion are to have an effective website that acts as a silent salesman. If you are a frequent reader, you also know that I often stand on my ‘website soapbox’ – in other words, too many people spend money on websites that don’t work!!!! (We also covered this topic in the Marketing Roadmap Intensive and one participant told the group – “I wish I had learned this information from Diana earlier; I’ve spent thousands and thousands on websites that really don’t work”).
Does your website give you the credibility & authority you deserve? Does it act as a silent salesperson?
So back to pivoting …. In business, let’s face it, we aren’t going back to normal – there’s going to be a new normal. Consider these 5 critical elements as you pivot your business for this new economy.
YOU CAN DO THIS!!!
P.S. Want to find out how your marketing scores? Book a Marketing Diagnosis and together we’ll walk through my new Marketing Scorecard. https://dianalidstone.youcanbook.me/