Quite often, when #businesses start, their purpose, mission, products, strategy and business model is different than what they become finally.
Sometimes, pivoting to a completely different approach makes sense as it is not only a question of survival but also the path that leads to success.
Let’s take Twitter as a case. Did you know that the company originally started as a #podcasting platform ‘Odeo’?
As soon as Apple announced its entry into podcasting, the company knew that they would face a tough battle and they decided to pivot to one of their side projects.
This side project was #Twitter and it turned out to be a huge success. These stats are a strong indication of that:
The company is worth more than $30 billion as of 2020.
• Twitter has 330 million users, out of which 145 million are daily users.
• A total of 500 million tweets are sent out daily, which averages to 6000 tweets per second!
• In 2019, the company reported a $3.46 billion in revenue.
• 40% of Twitter users reported purchasing something after seeing it on the platform.
If you are a #marketer, do you consider Twitter in your marketing plans?
If you are an #enterpreneur, do not be afraid to pivot if it makes more business sense.