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Aired on May 5, 2020
Episode 39
How To Pivot Your Business Successfully & Attract A New Audience
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Adapt to changes, understand your customers, and market well to succeed in business. Build good relationships and encourage customers to share content for lasting success.

How To Pivot Your Business Successfully & Attract A New Audience

In today's ever-changing business world, the ability to pivot and adapt is key. Whether it's due to market shifts, consumer behavior changes, or unexpected challenges, knowing how to pivot your business and attract a new audience is crucial. It keeps you competitive and relevant.

Let's look at some strategies to pivot your business successfully and attract a new audience.

Embrace Change and Flexibility

The first step in pivoting is accepting change. Change is inevitable, so adapt and be flexible. This mindset opens you up to new opportunities.

Recognize the Need for Change

Assess your business. Look for signs that suggest a need for change, like declining sales or shifting market trends. Recognizing this need is the first step to a successful pivot.

Stay Agile and Open-Minded

Keep an agile mindset. Be open to new ideas and strategies. Quick pivots and adjustments help you adapt to new audience needs.

Understand Your Target Audience

Understanding your new target audience is crucial. Learn about their behaviors, preferences, and pain points. This helps tailor your offerings to meet their needs.

Conduct Market Research

Do thorough market research. Use surveys, interviews, or data analysis to understand your audience. The more you know, the better you can pivot to meet their needs.

Identify Emerging Trends

Stay informed about trends in your industry and among your audience. This helps you position your business to capitalize on new opportunities.

Create Compelling Value Propositions

Develop value propositions that resonate with your new audience. They should communicate the benefits and uniqueness of your products or services.

Define Your Unique Selling Proposition (USP)

Identify what makes your business unique. Communicate this as your unique selling proposition. This attracts an audience that values what you offer.

Tailor Your Messaging

Craft messages that address your new audience's pain points and desires. Show how your offerings can improve their lives.

Utilize Effective Marketing Strategies

Use marketing strategies to reach and engage your new audience. This includes digital marketing and content creation.

Leverage Social Media Platforms

Use social media to connect with your new audience. Be active on platforms they use and create engaging content.

Tell Your Story

Use storytelling to connect with your audience. Share your business's journey, including challenges and your future vision. Authentic stories resonate with new audiences.

Foster Relationships and Engagement

Build relationships and engage with your new audience. This builds trust and loyalty.

Offer Personalized Experiences

Create personalized experiences for your audience. Show that you understand and value them as individuals.

Encourage User-generated Content

Encourage your audience to create and share content about your brand. This builds a community around your brand and attracts more people.

Conclusion

Pivoting your business and attracting a new audience involves adaptability, understanding your audience, creating compelling value propositions, using effective marketing, and building relationships. Embrace change and focus on your new audience's needs. This positions your business for long-term success in a dynamic market. Remember, the ability to pivot and evolve opens up new opportunities and sustainable growth.

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Biggest Takeaways:

  • When you are thinking of pivoting, try not to throw the baby out with the bath water. Sometimes it feels like you need to flip the tables but take the time to actually think about the things that are still working.
  • Create some stillness and some silence and some space to sit with what is coming up. What is prompting this desire?
  • There is no rule that says it must be done this way or this way or this way. Pick something that fits for you. Just decide and then go forth and conquer.

Highlights:

  • What you need to figure out before you actually pivot [02:06]
  • How my client went from a multiple six-figures offline business to a different audience online, yet did not have to let go of her existing business [06:26]
  • How to not completely lose your audience while you’re in this transition in making the shift and pivoting over [09:17]
  • When to actually make the shift and how [18:31]

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