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Find the Blue Ocean
 

Find the Blue Ocean

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Keynote Address Given at the PODi Applications Forum in Sydney Australia September, 2009.

Keynote Address Given at the PODi Applications Forum in Sydney Australia September, 2009.

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    Find the Blue Ocean Find the Blue Ocean Presentation Transcript

    • The Blue Ocean
      Presented by Kate Dunn,
      Founder and President Digital Innovations Group (DIG)
    • Who Is This?
    • Stockdale Paradox
      • Highest-ranking naval officer held as a prisoner of war in Vietnam
      • Imprisoned for 8 years
      “This is a very important lesson. You must never confuse faith that you will prevail in the end—which you can never afford to lose—with the discipline to confront the most brutal facts of your current reality, whatever they might be.”
      Vice AdmiralJames Bond Stockdale (December 23, 1923–July 5, 2005)
      Source: Good to Great, Jim Collins
    • Today’s Realities
      Midst of a worldwide recession
      Other forms of communication are proving effective and cost efficient
      Overall print volume is shrinking
      Price of print is declining
      Operating costs continue to increase
      Costs have been cut to highest levels
      Smaller businesses do not have the critical mass to be profitable in a commodity market
      The printing industry will look very different at the end of this recession
    • To Survive and Thrive
      Increase profitable sales
      Print as a stand alone medium is becoming marginalized
      Profit comes from creating value
      The industry must find NEW ways to create value
      Those ways will cannibalize our traditional business
      We need Blue Ocean!
    • Why Are You Here?
      Grow Profitable Sales!
    • Great Ideas
      A combination of 2, maybe 3 great thinkers!
    • Blue Ocean Strategy
      Authors:
      W. Chan Kim & Renée Mauborgne
    • The Dip
      Author:
      Seth Godin
    • Blue Ocean Strategy
      Value Innovation – focus is not on beating the competition but rather making the competition irrelevant by creating a leap in value for buyers and your company, thereby opening up “new and uncontested market space.”
    • The DIP
      Quit the wrong stuff
      Stick with the right stuff
      Have the guts to do one or the other
    • What is a Dip?
      • The long slog between starting and mastery.
      The Dip
    • Why?
      We forget
      Why were here
      What we want to accomplish
      Why people will buy from us
    • Your Competitive Advantages
      Differentiate your company
      Give people a reason to buy from you
      Help you stay focused
    • Jay B. Barney
      “A firm is said to have a sustained competitive advantage when it is implementing a value-creating strategy not simultaneously being implemented by any current or potential competitors and when these firms are unable to duplicate the benefits of the strategy.
      Gaining and Sustaining Competitive Advantage,
      Jay B. Barney
    • True Competitive Advantages
      Objective, not subjective
      “Do business with us because we have great quality and terrific customer service.”
      Is quantifiable not arbitrary
      “95% of our business comes from referrals.”
      Is different from the competition
      Is not a cliché
      “We exceed customer expectations.”
      Sustainable!
    • 5 Fatal Flaws of Most Companies
      They don’t have a competitive advantages but think they do
      They have a competitive advantage but don’t know what it is
      They know what their competitive advantage is but don’t communicate it to their clients
      They mistake strengths for competitive advantage
      They don’t concentrate on competitive advantages when making strategic and operational decisions
    • Another Key Concept
      The people who invest the time and the energy and the effort to power through the Dip become the best in the world
      Make the Dip longer, deeper and harder for all those who follow
      The ‘Right’ One
    • Which Dip?
      The mass market is dying
      Not just in communications in all things
      Today there are a million micro-markets
      Each micro-market has a ‘best’
      Best is subjective; the customer decides
    • Are We Getting This?
      What’s Apple’s market for personal computers?
      “style-conscious, designer’s, multimedia, student, family computer.”
      They Own This One!
    • And They Know How to Work It
    • Blue Ocean: Value Innovation
      Creates value simultaneously for both the buyer and the company
      Occurs when companies align innovation with utility, price and cost positions.
      Requires companies to orient the whole system toward achieving a leap in value for both buyers and themselves.
      Believes that market boundaries and industry structure are not given and can be reconstructed by the actions and beliefs of industry players.
    • What’s Remarkable
      Criticizes Michael Porter’s idea that successful businesses are either low cost providers or niche-players
      Proposed instead that value can be found by crossing conventional market segmentation and value and lower cost.
    • How?
      The innovation raises and creates value for the market while, simultaneously reducing or eliminating features or services that are less valued by the current or future market.
    • The Strategy Canvas
    • Southwest Airlines
      Emphasize friendly service, speed, and frequent point to point departures
      Focus
      Price against car transportation
      No extra investments in meals, lounges, and seating choices
      Divergence
    • The Final Test…
      Compelling Tagline
      Delivers a clear message
      Advertises an offering truthfully
      Promotes interest and trust from customers
      "The speed of the plane at the price of the car—whenever you need it."
      Southwest Airlines
    • How Did Airlines Get There?
      • Their strategies were formed reactively as they tried to keep up with their competition
      • They lost uniqueness
      What makes you ‘Remarkable’?
    • Value Map for Printers
    • Value Map – Traditional Agency
    • A New Type of Company
    • A New Breed of Company
      High
      Service Offering
      Low
    • Capitalizes on Trends
      Movement away from TV, Radio, Print advertising
      Focus on digital media
      New media – social media
      Provides automation for faster implementation and analysis
      Need to integrate all channels
    • Now Let’s Add the Spice
      Ingredients:
      the right ‘micro’ niche
      Clear competitive advantages
      Remark-ability
    • Violá
    • Blue Ocean
      Cross channel communication
      Integrated channels
      Direct mail
      Email
      Landing pages
      Search Engine Optimization
      Social Media
      Cell
      video
      Automated tracking
      Campaign Management
      Marketing Automation
      Web to print for cross channel communication
    • Combined with a Micro Niche
      Vertical Markets
      Horizontal Applications
      Delivery channels
      Geographic/Regional
      Company Characteristics
    • Reinforced by
      Clear Competitive Advantages
      Know them
      Tell Them
      Keep Them
    • Perseverance
    • Makes You the Best!
      Remarkable!
      Money!