Keith Bates Blog
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October 19, 2017
Want to run a business that has no competitors? Learn how with the Blue Ocean Strategy.
To build a blue ocean, First build a fire under your butt…
You’ll need to put serious effort into making your competition irrelevant.
What I learned in just the first 13 pages from the new updated bestseller Blue Ocean Strategy is worth its’ weight in gold. What’s a blue ocean? It’s a product or service growing into uncontested market space. Products or services so unique in their substance or positioning that there are no competitors. And what’s a red ocean? The old world of competitive reality that organizations face constantly where marketing attempts to address the challenge of survival every minute of every day.
Launching a blue ocean company won’t be easy. The vision of the lone and creative entrepreneur, innovation, and creativity have been essentially viewed as a black box…unknowable and random. And, while the field of strategy has produced a wealth of knowledge on the content of strategy, it has remained virtually silent on the key question of how to create a strategy to begin with.
Value innovation: the cornerstone of blue ocean strategy
To capture increasing savvy customers’ imaginations and wallets, both differentiation and low cost are needed. You can’t offer one without the other. To stand apart in an overcrowded world of marketing you need to be creative through value innovation.
You can do it. It’s not magic. Read the book!
Some thoughts from the book: What consistently separates winners from losers in creating blue oceans is their approach to strategy. Surprisingly successful creators of blue oceans don’t use competition as their benchmarks. Instead they follow a different strategic logic that authors Kim and Auborgne call value innovation, which is the cornerstone of the blue ocean strategy. They call it value innovation because instead of focusing on beating the competition, you focus on making the competition irrelevant by creating a leap in value for buyers and your company, thereby opening up new and uncontested market space. To sum up, those that seek to create blue oceans pursue differentiation and low cost simultaneously.
For a free copy of “Creativity—the critical gap between Messaging & Media” simply visit www.kbates.com home page for the link.
IT’S THE MESSAGE, NOT THE MEDIA, THAT PERSUADES. For CEOs, CMOs in need of an Ad Agency, or a MarTech firm. Do this first… Accept the fact that traditional ad agencies often lack the consulting expertise to develop positioning and differentiation strategies while...