Startups · Entrepreneurship

How do you retain revenue and customers when doing a pivot?

sandy edri It manager at VR

September 14th, 2016

We are going now to do a pivot for our SaaS company to make some adjustments to what the market is telling us to do. 
I wonder if you know of any way to optimize the retention of users.

Joe Albano, PhD Using the business of entrepreneurialism to turn ideas into products and products into sustainable businesses.

September 14th, 2016

Question 1: Are you pivoting to new customer segments or pivoting other aspects of your business model? 

Q2: If you are pivoting toward new customer segments are you giving up (abandoning) current segments? 

Q3: If you are intending to retain current segments, how will your pivot improve your products/market fit with these segments? 

Q4: If you are pivoting away from current segments, how will your attempts to retain "old" segments hinder product/market fit with the segments you are pivoting to?   

Rod Abbamonte Co Founder at STARTREK / @startupHunter / @startupWay / @CoFounderFound / @GOcapital / @startupClub / @lastminute

September 15th, 2016

Working hard to find a correct way and keeping all in contact with honesty, respect and love. 

Laurelle Johnson, MBA

September 15th, 2016

Good, straightforward phone call/announcement/conf. call to inform all existing customers of the pending pivot.  By keeping current customers in the 'loop' and thanking them for their continued business, they will feel part of the pivot, not victims of the pivot.  Could be some of them will be very happy with the pivot, some may not.  Part of the process.  But please, talk with them directly. Works wonders.