You’ve gotten to that dreaded stage, when a product that once had amazing traction is starting to feel a bit slow, like its growth has plateaued. Perhaps the market has shifted. Maybe prospective buyers aren’t converting like they used to. Or maybe your company has evolved, but your messaging hasn’t kept up.

Whatever the reason for stagnation, this is often a sign that it is time to pivot. Not your product necessarily, but how you’re positioning and presenting it to the market. Here is how we recommend approaching it, based on what we’ve seen in our decades-long experience across the fintech space: 

1.        Start by listening to your potential buyers

Before making any big changes, take a step back and listen to your clients. What are your prospects hesitating on? What do your sales and client success team keep hearing in those introductory calls? Most times, the issue isn’t the product, but how people understand and view it. When your messaging is so focused on the features of your technology, this clouds the benefits it can provide for users. Look for patterns in feedback; if there is a consistent chokepoint in the sales process, these valuable insights are important factors to consider when the time comes to reposition.

2.        Refocus the story

Once you have a clear understanding of where the disconnect is, you can sharpen the narrative. Is your messaging still aligned with what your ideal customer cares about currently? If you’ve been in business for a while, the market may have changed and could have moved on from what your organisation originally set out to solve. 

Your story and messaging should feel current, relevant and clear. Don’t be afraid to rethink your language or change the way you describe your value. In fintech, companies often default to technical-heavy, corporate speak – but that is not what the current market is looking for. Simplicity often wins.

3.        Re-evaluate your audience

Sometimes, a pivot doesn’t need to only focus on how you present your company and product, you can also consider changing who you’re speaking to. Maybe your product resonates more with mid-size brokers than the tier-ones you originally had targeted

Realigning your go-to market approach to fit where the demand actually is can make a huge difference. That includes everything from content and PR to sales enablement and digital targeting. 

A strategic pivot is marketing well done. 

This is where we can help. A smart pivot doesn’t mean tearing everything down and starting fresh. You can successfully pivot by taking a beat, reframing what already works and reintroducing your product in a way that makes sense, to the correct audience.

Whether it’s evolving your messaging, launching a repositioning campaign or building through leadership that speaks to your new audience, we can help you shape your story and grab the market’s attention again. 

Ready to get started? Speak to one of our experts today!