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03 November 2014

Think big, or detail will kill your business

Marketing_micromanagement.png

"Look, I said I'd bring you the report on micromanagement,
just give me a minute!"

Stop sweating the small stuff, especially now there's so much of it. New technologies allow us to gather data on just about everything. So it's become accepted practice for marketers and sales to invest in new ways to gather stats and report to senior management. For those of you wondering what's the point, it has now been proven the more a business spends on technology, CRM systems and sales data, the less well it performs in profitable conversions.

The more technology marketers use, the worse the results

Sounds like a contradiction, but the research undertaken by Peter Strohkorb into sales and marketing collaboration in 2013/4, simply proves the more systems teams add the worse the sales results. It's symptomatic of what the authors of Blue Ocean Strategy postulated over a decade ago. A typical strategic plan is usually based on a plethora of research from silos across the business which forces management to dwell on detail. Management becomes paralyzed by information overload.

The businesses that thrive are the ones that step back and look at the big picture using a customer centric view of what could be possible. Here's how it works.

Focus on the big picture to create a Blue Ocean Strategy

  Head to head competition Blue Ocean creation  
Industry Focus on rivals within industry Looks across alternative industries  
Strategic group Focus on position against competitors Looks across strategic groups  
Buyer group Focus on better surving current buyers Redifines who buyers can be  
Scope of product /service Focus on costs/maximising value of current offer Looks across complementary products/services  
Functional/emotional orientation Focus on price/performance improvement Rethinks the orientation of the industry  
Time Reacts to industry changes as they happen Participates in shaping external trends over time  

 

With a Blue Ocean strategy, you can implement a clear brand building campaign

We've found time and again, once clients re-visit what they can be, the task of growing the business becomes clear. Our methods to help create clear differentiation set the business up for challenger brand growth. With a single minded compelling tag line that sets them apart, big picture thinking helps refresh the business. There is new enthusiasm we harness to recreate the brand and relaunch. The way is now clear to become a price setter, not taker and drive sales conversions.

See some of the ways a refreshed brand can improve profitability.

Glenn | Tags: challenger brand Blue Ocean Strategy differentiation


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