A Strategic Approach to Your Online Footprint - Part 1


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How strategy helps in defining your online footprint.

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A Strategic Approach to Your Online Footprint - Part 1

  1. 1. A Strategic Approach toYour Online FootprintPart 1Presented bySridhar Sunkara
  2. 2. How to grow my business
  3. 3. Strategy is the Key
  4. 4. Strategy is choiceThe challenge for management is to pick the right game to play and play to win
  5. 5. 5 important questions to build a strategyWhat is ourWinningaspiration?Where willwe play?How will weWin?What capabilitiesmust be in place?What managementsystems arerequired?The motivating factor, aspirationwhat area ofproducts, customersegmentation, channels– Value proposition, competitiveadvantageThe resources, the activitiesthat need to happen, etcIntegrated ApproachSource: Playing to win – How strategy really works:Harvard Business Review Press
  6. 6. What is your aspirationPurpose of a company is to create a CustomerThere should be a deep understanding of theCustomerServe & Win with CustomerDon’t put Product Lens - marketing blinded by products and not see the largerpictures or true market dynamics
  7. 7. Where to PlayThere should be a deep understanding of theconsumer, competition analysis, andcapabilitiesNeed to understand what business you are really inWhere to compete and where not to competeSome of choices:Geography, Product or service type, Consumersegment, distribution channel, vertical stage ofproduction or service you engage
  8. 8. Where to PlayImportant things to avoidRefuse to ChooseBuy your way out of an unattractive gameAccepting an existing choice as immutable
  9. 9. How to winTo provide better value proposition than competitors do, andproviding it on a sustainable basisTwo generic ways:Cost Leadership – Cost reduction is relentlessly pursued• Does not always mean charge lowest prices• Have option of under pricing•Can reinvest margin to creative competitive advantageDifferentiation – Brand is relentlessly built• Distinctively more valuable• The more a product or service is differentiated along adimension consumers care about, there can be premium price
  10. 10. How to winLoyalty emerges where there is a match between whatthe brand distinctively offers and the consumerpersonally valuesSustainable Winning StrategyTo have both cost leadership and differentiation
  11. 11. CapabilitiesCompanies activities that when perfumed at the highest levelwill enable the company’s to bring its where to play and how towin choices to lifeCapabilities should reinforce one another and should makestronger than they would be alone.Create an Activity System – Visual representation of company’scompetitive advantage, capturing on a single page the corecapabilities of the company
  12. 12. CapabilitiesWhen articulating activities think about:Generic StrengthCritical StrengthMutually reinforcing activities
  13. 13. Management SystemsManagement is what is most neglected in companiesTo be successful a company need robust process forcreating, reviewing, and communicating about strategyNeed structures to support its core capabilitiesNeed specific measures to ensure its strategy is working
  14. 14. All 5 Questions need to be answeredStrategy is Iterative processOrganization has Multiple levels of nestedcascadesNo one perfect strategy; find the distinctivechoices that work for you
  15. 15. Methodology
  16. 16. Business Model CanvasEach component contains a series of hypotheses that you need to test
  17. 17. Lean Startup ModelEach component contains a series of hypotheses that you need to test
  18. 18. What is your online strategy
  19. 19. Customer Discovery
  20. 20. What should I do first?Too much to thing aboutToo many channels
  21. 21. Your Websiteshould be your first step to online presence
  22. 22. The website is the hub of yourintegrated marketing effort.The website is the hub for yourvarious audiences.
  23. 23. sustainablegrowthWhat do you want?
  24. 24. What is more importantTime on your siteonline assetsConversion Rateor
  25. 25. Stickiness?• Increasing Conversion• Not More Time on Site• User Experience - Careful of Distractions
  26. 26. How To Increasing Stickiness to the site
  27. 27. Website navigation and content should help tofacilitate decision, not calculate persuasion
  28. 28. • Increase number of results per page• Visuals (images, map)• Suggest alternativesReturn Relevant Results
  29. 29. Encourage Use of Filters• Dynamic• Sliders when possible• Retain all filters andsorts• Add option to clearselected fields
  30. 30. Clear Price Displays• Bigger is better• Highlight promotional rates• Remain consistent through funnel• Create transparency• Allow customers to modify
  31. 31. Create Urgency• Highlight 5 or less items• Number of times booked• Show what they can save now
  32. 32. Easy to Find Content• Limit tabs• Don’t make customerssearch• Show thumbnails on mainpage• Include guest reviews
  33. 33. DetailsPhoto Layout convertquickly2.28%Increase in conversion
  34. 34. Streamline Checkout• Remove Unnecessaryfields and steps• Test one-page flow• Provide phone number• Remind customer whatthey ‘re buying
  35. 35. • Stickiness should focus on increasing conversion. Not onthe amount of time on site.• It’s about creating a great user experience. Make it easyfor users to accomplish their goal and they will stickaround.• Be original and authentic to the value you are providing• Be transparent about what you are offering.
  36. 36. Content Strategy
  37. 37. The important challenge nowContent & Design for different outlets, differentdevices and languages
  38. 38. Creating Adaptive ContentPut more effort intocreating content in such away that it can be reusedeffectively.Create Once,Publish EverywhereContent
  39. 39. Future of Adaptive Content
  40. 40. Content GoalsSharable (Viral): Content that is designed to spread organically. Usually, it has littlesubstance beyond the initial spark that makes viral content unique; thus, it has a fairlyshort shelf life.The main goal with viral content is to get your consumer to click the social share buttonsand build awareness of you, your product or your company.
  41. 41. Discussion: Content that is designedto spark a conversation within acommunity.unlike viral, its shelf life is muchlonger.The content can play on the sameextremes as viral, but its morethought-provoking.The main goal with discussioncontent is to get its consumer toleave comments and to interactwith other readers.
  42. 42. Lead: Content that is designed to draw people into some sort of opt-in. This contentexposes a gap in the consumers knowledge and hints at a promise of closing that gap ifthe user enters his email address or fills out a lead form.Conversion : Content similar to lead content, but with one important difference. Thiscontent convinces consumer into making a decision to alleviate whatever problem theyneed help with
  43. 43. Call to Action StrategyFast ThinkingSlow Thinking
  44. 44. Stylized Text MemesInfographicsPhotos
  45. 45. Visual note-takingVideo
  46. 46. Build the right CMS
  48. 48. Flexible Content – WINNER
  49. 49. Design Responsive Web DesignCustom Mobile Web Design
  50. 50. Why Mobile
  51. 51. Why Mobile
  52. 52. Why Mobile
  53. 53. How people Really Use MobileMobile does notmean on the go68% use at homeMost common use isME TIME
  54. 54. Why Mobile
  55. 55. Mobile Ads or Apps?Mobile ad budgets in the U.S. are expected toincrease from $2.3 billion in 2012 to almost $11billion in 2016New media require newmethods of advertising, andthose evolve over time.3 reasons why mobile adsdon’t workPeople Don’t Like ThemThere’s No Right SideThe “Fat Finger” Effect
  56. 56. Mobile Apps will trumpConsumers- don’t perceive them as advertising- they value them for their functionalityMarketers- more cost-efficient than traditional ads- sometimes create entirely new revenue streamsUsers spend on average,82% of their mobile minutes with apps18% with web browsers
  57. 57. Smartphone apps fall into five categories:1. Games and entertainment, 42% of time spent2. Social networks (especially Facebook), 31%3. Utilities, including maps, clocks, calendars, cameras, and e-mail;4. Discovery, including apps for Yelp, TripAdvisor, and Flixster;5. Brands, such as Nike and Red Bull.1. Add convenience2. Offer unique value.3. Provide social value4. Offer incentives5. Entertain.Five strategies that can help Apps succeed
  58. 58. Five strategies that can help Apps succeedAdd convenience Offer unique value.Provide social valueOffer incentivesEntertain
  60. 60. Measure
  61. 61. Experiment – The Lean WayTo Win – Set Metrics >> Build Hypothesis >> Experiment >> ActionStep 1 – Pick what key metrics you want to improveStep 2 – Form assumptions by1. With existing data2. Without DataStep 3 – Create an experimentWho is your audience?What do you want them to do?Why should they do it?Step 4 – Measure
  62. 62. Experiment – ResultsIf1. Success >> Next Metric to improve2. Failed spectacularly - revisit hypothesis. It’s time to identify a new who, what, and why,based on what we’ve learned.3. Marginal success - but not close enough, try another experiment. The hypothesis might stillbe valid, and we can try again, adjusting based on what we’ve learned.
  63. 63. Experiment – The Lean Way
  64. 64. Sridhar SunkaraFollow Me: sssunkaraCall Me901.270.4397Email Mesunkara@thinkebiz.netThank You