How to Communicate a Business Pivot in 6 Steps

Like Ross working a heavy couch up the narrow stairs of a New York apartment building, pivots have been top of mind for business executives of late. At least it seems that way to us; in the past couple of months, I’ve met with at least three companies seeking guidance in communicating a business pivot.

It’s natural. At some point in their growth journeys, whether via full pivot or expansion, most companies transform. And so too must their narratives, away from their legacy story toward a new one.

There is rarely a one-size-fits-all approach in the world of PR, and that applies here, but there are general recommendations for communicating a business pivot. Here are my top six:

‍Update your strategic narrative

The most successful and memorable companies deliver more than a product or solution, they inspire a new mindset and way of doing things. They do so through a narrative — a “why” and “why now” story.

In a transitional period, taking the time to redevelop that corporate story is critical. It’s what will get everyone on the same page working toward the new vision, empowered to sell it, enabled to gain attention for it, etc.

‍Address the change proactively and transparently

Sure, the nitty gritty details behind your pivot may warrant discretion, but you can’t just pivot in silence. Stakeholders, internal and external, will notice. It would also be a missed opportunity.

We’ve been supporting a company that is pivoting its entire strategy, market and message. Just the underlying tech is remaining. We advised its leadership to acknowledge that the prior path was not viable long-term and focus on why the new direction is better for everyone. It required upfront transparency from leadership in all public-facing conversations (earnings calls, analyst and press interviews), proof that the prior market was increasingly unsustainable and the new direction is, and finally propping up another executive with deep expertise in this new market.

If a pivot is in response to – or anticipation of — a new market opportunity or shift, articulate that. Address it head-on in all accompanying content (FAQs, open letters, internal communications, media outreach, etc.). Savvy stakeholders know the future is more important than the past and will rally behind visionary leaders who are transforming to ensure long-term health of the business and its customers. 

‍Communicate internally first

If customers are the lifeblood of a company, its employees are the heart pumping that blood. After senior executives, employees should be made aware of the pivot before anyone externally. The pivot may impact your customers’ business, but it will also impact your employees’ lives.

Consider as a first touchpoint a single communication from the CEO, such as via an all-company meeting. At large businesses, have department or team leads dive into more detail in smaller groups to address changes, next steps and concerns. Make senior leaders highly available for Q&A sessions where employees can ask questions and be prepared to address how/if this will impact their role. Do not make employees struggle to get answers. Make them feel the pivot is ultimately in their and the company’s best interest, and have this messages prepared in partnership between the C-suite and communications team.

‍Show deep understanding of your new audience(s)

Understanding and demonstrating understanding of your new audience, their problems/needs and how you can now solve them is key. This needs to be addressed through updates of every marketing asset you had for the now-old version of your business — website, white papers, ads, sales decks, etc. — with a credible POV and insights before you communicate the pivot to the world. 

When our client Axonify entered a new vertical (hospitality), we helped them become a credible source on the top issues these businesses were facing. We developed a thought leadership platform, activated through original data and news commentary placed in media and event speaking, that helped drive visibility, credibility and demand and served as valuable sales/marketing collateral.

For another client that pivoted to a net-new market earlier this year, we have and continue to spend significant time on analytics to help them understand what this audience cares about, where they get their information and what influences their decisions.

Communicate where your (ideal) customers are

When you’re ready to communicate externally, remember that unlike your relatively homogeneous internal audience, your external audience includes multiple stakeholders: media, customers, the general public, investors.

Each of these audiences plays a unique role in your business and should thus receive unique messages on the channels where they’re most engaged.

Start with a press release, one single document announcing the pivot to the world (yes, press releases still have a time and place). From there, roll out bespoke communications to customers, partners, investors and anyone else core to your business. Do so across multiple channels; perhaps your most important customers require a phone call while some partners would suffice with an email.

Last (or simultaneously in some cases) comes the media, who typically love a good pivot story. Build out the new narrative with supporting evidence (new market cap, customers, supporting data) and find the perfect reporters who cover your industry, business leadership and business strategy for when/if you engage the media.

Reinforce the pivot & narrative

Not everyone will be on board (nor will the message stick) from day one. The pivot will require nurturing. Consistency is always critical in communications, and particularly so amid a pivot and repositioning.  

Plan to check in regularly (roughly monthly) with employeescustomers to gauge progress and concerns or needs. This will help ID and troubleshoot issues before they become more serious problems while showing empathy and understanding for slower adopters.

Also turn significant milestones into storytelling moments, to show progress and build demand for the new direction. These are proactive pitches for the media, but also touchpoints for your customers, investors and partners to drive adoption, belief and potentially even upsells.

While we supported Criteo in repositioning from retargeting tech to end-to-end ad and commerce solution, repetition was key. We transitioned brand perception piece by piece (of coverage), focusing on a larger story and vision as well as setting the company against a more aspirational competition set through strategically placed stories including:

• Fox Business Network: “The future of ad technology”
• CNBC Squawk Box: “Criteo's ad tech power play”
• Business Insider: “Why Criteo is one of the star performers among public ad tech companies”
• The Information: “The Ad Tech Company Google Pays Attention To”

Pivots of any size are a major moment for a business and its audiences. Communicating one in a sloppy fashion could stall its rollout or, worse, embolden skeptics and lose stakeholder trust. 

Instead, express confidence and optimism on your vision and change through a steady drumbeat of communications. If that's something you need support on, we'd love to talk and help you create a thoughtful plan and execution.