A user problem pivot is done when a product needs to be improved

[Joywtome231]

There is a tendency to create super apps now — services, applications, within which you can perform many different actions. For example, if earlier the T-Bank application was intended only for financial transactions with cards or investments, now you can find anything in it:

buy airline tickets and book hotels;
buy clothes;
play games;
watch video;
keep an eye on the posters, etc.
Thus, the company transformed a financial product into a platform for investments, shopping and entertainment.


Audience Pivot
Audience pivoting occurs when a startup decides to change its target audience, for example, to develop a service or service for a specific segment. Pivoting, rotation can be associated with the fact that it is possible to see potential in a more profitable market segment.

Airbnb was originally a platform for renting housing for the duration of large events. The creators of the project came up with the idea during a conference. But later they realized that Airbnb could become a universal platform for short-term housing rentals.

The company then focused on tourists and travelers looking for affordable accommodation options. This allowed Airbnb to expand its audience and become a market leader.

Sometimes a product intended for one audience is in demand by another. This needs to be taken advantage of and pivoted. For example, the children's Lego construction set became very popular among adults. This led to the company starting to produce collections for adults as well.


Pivot of user issues
and adapted to user needs. To do this, the interface is adapted, new functions are added, or the product concept is completely changed.

The essence of a customer-based pivot is to increase the usefulness of a product. Let's say the current product or service is useful, but not very useful, so most potential customers choose competitors.

In this case, the pivot is not to find a new customer segment, but to change slovenia phone number list your offer so that it becomes more attractive to the customer segment you already have.

For example, the startup Starbucks was originally engaged in the retail trade of coffee beans. Having made a pivot, the company adapted to people's need to get delicious freshly brewed coffee. Thus, Starbucks became a chain of coffee shops.


Pivot of monetization
A monetization pivot occurs when a business changes its revenue generation strategy. This may involve finding new revenue streams or changing its pricing model.

For example, during the pivot process, a company makes a transition from the freemium model. If previously users were provided with a limited version of the product for free, now tariffs and restrictions can be removed completely. The product becomes free, but with advertising. The startup will receive profit from the project at the expense of advertisers.