Pivoting your Marketing

pivot (verb): to turn on a central point.

Pivoting is a strategy nearly all entrepreneurs engage at some point of the life of their business. In other words, they make adjustments to improve their physical products or services. Pivoting is usually done very methodically and only when metrics and data deem the changes necessary.

Enter the year 2020. Covid-19 has now forced almost all entrepreneurs to pivot. But not in the way you may think. Businesses don’t necessarily need to make changes to their products or services, but nearly everyone has had to pivot their marketing strategies to adjust their messaging to align with these uncertain times.

So, how do we do this? Here are a few steps you can take to assess and adapt your current marketing strategies to ensure you effectively engage your customers.

Take Inventory

First, review your original marketing objectives and business goals. Take stock of which existing strategies remain applicable and effective. You should never lose sight of your vision or abandon your mission, but you should react in real-time to behavioral and attitude changes among consumers.

For the sake of this article, we’ll use the made-up Super Softie Toilet Paper Company as an example. Perhaps SSTP originally set out to provide high-end customers luxury bath tissue. Their company was successful because their target audience was willing to pay big bucks for this extra special paper. Because this approach has been highly effective, SSTP will continue to market to high-end consumers seeking this luxury product.

Adjust

Once you’ve identified which business objectives and goals are still working – and which ones aren’t - you’ll need to adjust your marketing strategies accordingly.

SSTP quickly realized that they were going to need to pivot their marketing in order to reach a newly expanded target audience. There now existed a broader range of socioeconomic groups who were willing to pay their existing prices for luxury toilet paper simply because it was all that was available.

So while SSTP did nothing to change the product – or the pricing – they now needed to adjust their marketing to reach all of the new potential customers. Therefore, SSTP broadened their marketing message to appeal to a larger audience. Instead of positioning themselves as the “the only toilet paper fit for kings and queens”, they repositioned their messaging to state that “everyone has the right to luxurious toilet paper”. 

Remain Fluid and Flexible

As you make adjustments, know that your new strategies will need to remain fluid and flexible – and may need to adapt quickly to the continually changing demands in the market.

You also need to remain observant of the effects of your changes. Keep an eye on metrics and respond quickly to customers. You also need to watch what your competitors are doing – especially what’s working and what’s not – and make minor changes to your marketing accordingly.

Now that toilet paper is becoming increasingly available again, SSTP might consider pivoting back more toward their original messaging. On the flip-side, if they have retained their original customers – and gained new customers based on their short-term messaging – perhaps they adjust the messaging just slightly to appeal to both groups. Their new message could be something like “providing luxury when and where you need it most”. 

Sometimes a little house-cleaning is just what a business needs. This has been the silver lining of the pandemic. You may find in your assessment and adjustment that intended short-term changes you make ultimately become long-term adjustments. Or, you might find returning to your original objectives and goals is most effective.

Want to take about your marketing and messaging – both short and long-term? Give us a holler at 904.671.5030 or drop us a line at info@stamarketplace.com.