In 2005, W. Chan Kim and Renée Mauborgne introduced a powerful distinction between business strategies of their time—Red Ocean vs. Blue Ocean strategies. The two each refer to ways that businesses engage with the markets they enter. While there are advantages and disadvantages to both, we argue that they could be equally served by an effective digital marketing strategy.
First, to define red oceans, these are existing markets that have been filled with competitors from the start. The cutthroat nature of marketing and selling between these competitive teams has turned the ocean blood red—thus the name.
Blue ocean strategies, however, symbolize the deep, untouched potential of new markets. These are vast, deep, and unexplored—much like our Earth’s oceans. The market cap has not yet been realized, nor will it be until a business sets up and begins effectively leveraging demands in the space. The potential is limitless, but this comes at the cost of a well-trodden field where demand already exists.
For both of these business contexts, digital marketing strategies like those used here at Wyred Insights can achieve consistent and scalable results. Today, we’re here to show you how, and hopefully demonstrate where a great digital marketer can help you edge out your niche and secure greater profitability as your business grows.
Digital Marketing for Red Ocean
When professionals are developing their businesses, oftentimes the skills (and thus the services) are locked into certain straightforward demand channels. For example, plumbers don’t need to reinvent the wheel every time they’re out, they just need to plug up whatever is leaking, or open up whatever is plugged. For businesses like these, a red ocean strategy is realistically the only way forward. But how can you get ahead in a mature market? There is only so much vehicle wrap to go around.
The answer is digital. When trying to beat out the competition, service level, customer satisfaction, and a winning smile can only go so far—the real money is made in leveraging consumer demand to your services and yours first. After all, what good is your lobby coffee machine if no one is visiting?
For red ocean businesses, digital marketing can put you at the top of local search results and help increase the chances of linking from other sites or search partners. By refining your website, landing pages, and online presence, you are not only attracting more customers but converting them more effectively when they do visit. In short, you can show off your expertise while drawing in new customers—all with one digital strategy.
Better social media, CTA’s, website layout, content marketing, and search engine optimization all help you float to the top of the competitive waters. Luckily, those are the exact same areas where Wyred Insights shines.
Digital Marketing for Blue Ocean
New businesses are not only tasked with growing new markets—they have to define, drive demand, and pioneer imaginative new spaces. For B2B or SAAS, this may be case studies, infographics, or video overviews of exciting new programs that answer a long-standing pain in institutions. For B2C, it could be describing your service through evocative imagery and targeted advertising. Simply put, even if there is no competition, you still have to make people care.
Here, content marketing is key. From better metrics for effective advertising to thoughtful blog pieces that outline problems, solutions, or simply value-added browsing, building a compelling and high-conversion site will help blue ocean businesses grow their consumer base through organic demand generation. As competition grows, your digital marketing strategy will allow you to stand out from the pack and continue to convert new customers as well as better capitalize on the attention and traction of your existing visitor base.
Wyred Insights wants to help businesses get ahead, no matter their market. Whether it’s sprucing up your old landing page to designing and implementing an in-depth research and marketing campaign, trust our Web and Analytics team to deliver the results you need with none of the jargon you don’t.
Contact us to get started on your next great digital marketing strategy—we predict smooth waters ahead.