This is a guide on how we can use digital marketing to enhance the our market reach. The talk is over how to create a blue ocean of untapped opportunities using right digital marketing strategies.
2. BLUE OCEAN MARKETING STRATEGY
Developed byW. Chan Kim and Renée Mauborgne
Focuses on creating blue oceans of untapped new market spaces
ripe for growth
Key Points
Data driven
Low cost and ROI driven
Taps uncontested market space
Maximizes opportunity while minimizing risks
Step-by-step (given you the opportunity to adopt Plan B)
4. RED OCEANVS. BLUE OCEAN MARKETING
Red ocean – where boundaries are defined and companies try to outperform their rivals to
grab a greater share of the existing market
Blue ocean – the unknown market space, unexplored and untainted by competition
5. FUTURE WITHOUT BLUE OCEAN STRATEGY
Future of Red Ocean Strategy Future of Blue Ocean Strategy
On January 12, 2012, Kodak filed for Chapter 11 Bankruptcy Protection. It was delisted from NYSE. [On September 3, 2013, Kodak
announced that it has emerged from Chapter 11 Bankruptcy
On April 9, 2012, Instagram was acquired by Facebook for US$ 1 Billion
6. NOWWE KNOW ABOUT BLUE & RED OCEAN
MARKETING,WHAT’S NEXT?
HOW DOWE CREATE OUR OWN BLUE OCEANS?
BEFOREWE DISCUSS MORE ABOUT IT, LET’S GETTOTHE DIGITAL MARKETING BASICS
7. DIGITAL MARKETING BASICS FOR 2017
Existing Digital Marketing Channels
What to expect in 2017
Planning for digital marketing
8. EXISTING DIGITAL MARKETING CHANNELS
Email marketing
PPC (Pay-Per-ClickAdvertising)
SEO (Search EngineOptimization)
DisplayAdvertising
Social Media Marketing
9. EMAIL MARKETING
Email marketing is used by 82% of B2B and B2C companies
95% of companies using marketing automation are taking advantage of email marketing
About 53% of emails are opened on mobile devices
75% of Gmail’s 900 Million users access their accounts via mobile devices
One out of every three clicks within an email occurs on a mobile device
Email is 40 times more effective at acquiring new customers than Facebook orTwitter.
A message is 5x more likely to be seen in email than via Facebook
Email marketing has an ROI of 3800%
The average order value of an email is at least three times higher than that of social media
11. PPC (PAY-PER-CLICK ADVERTISING)
Provides the most precise audience targeting and reporting
Every $1.12 spent on Adwords PPC generates $2.33+ in small business revenue
Average CTR of a PPC advertisement is only 2%, ads that show up on the top of SERP get 7.94% CTR
Search ads can increase the brand awareness by 80%
At least 96.4% of Google’s total revenue comes from digital and display paid advertisements
The top 3 paid advertising spots get 46% of the clicks on the page
36% of searches on Google are associated with location
Mobile devices account for 53% of paid-search clicks
The keyword “insurance” is the most expensive keyword, “loans” and “mortgage” are the next highest in CPC
12. SEO (SEARCH ENGINE OPTIMIZATION)
One of the most important channels of Digital Marketing
SEO in Inbound Marketing
The most cost effective but time consuming
Major Activities
Having a website (not mandatory for all businesses)
Content promotion through blogs
Location based optimization
Brand building
Use of web data analytics
13. DISPLAY ADVERTISING
Appropriate for specific niche (ecommerce, travel, hospitality, entertainment, etc.)
Ideal for branding
Gives you control over placements
Cost effective if you aim to get featured on platforms who offer costly advertising space
Platform specific display ads are more relevant
ROI is more if we use retargeting
14. SOCIAL MEDIA MARKETING - REACH
More than 2.3 billion active social media users
More than 1.9 billion active mobile social media users
Social media can be used to reach out to this huge pool of potential customers
748 million Facebook accounts (Accessible via Desktop of Laptop)
1259 million Facebook accounts (Accessible via smartphones)
66% of mobile web browsing via Android & 19% via iOS
15. SOCIAL MEDIA MARKETING – ENGAGEMENT STATS
95% Online adults aged 18-34 are most likely to follow a brand
71% of consumers who have had a good social media service experience with a brand are likely
to recommend it to others
In 2015 Facebook influenced 52 per cent of consumers’ online and offline purchases, up from 36
per cent in 2014
There are 40 million active small business pages in Facebook and 4 million pay for social media
advertising on Facebook
78% of people who complain to a brand viaTwitter expect a response within an hour
17. WHATTO EXPECT IN 2017
Mobile dominance
Marketing KPIs will change (boom in CRO)
Data analytics and visualization trends (Use of big data & artificial intelligence)
Enhanced use of video marketing
Increased focus on paid advertising
Voice searches will increase
19. CREATE BLUE OCEANTHROUGH DIGITAL MARKETING
To create your blue ocean you need to do the following:
Look at the past (Analyze your marketing efforts, cost, sales & profit
Learn about your competitors (their marketing strategy and results)
Identify prospects (based on above analysis)
Identify marketing channels to target
Build a completely new marketing/ sales/ customer service framework
Create a plan B (corrective or reactive measures based on the results)
Let’s have a goal specific discussion over relevant digital marketing channels
21. DIGITAL MARKETING FOR BRAND AWARENESS
Social media channels particularTwitter, Facebook and Google+
Engaging with targeted audience through social channels
Channels that promote visual elements like Instagram and Pinterest
Channels that promote video materials likeYouTube andVimeo
Promotional campaigns with coupons
Joint venture marketing projects with other online businesses
Participating in online and offline events
22. DIGITAL MARKETING FOR SALES GENERATION
Amazon Resellers
Facebook Storefront
Google Shopping Feeds
Google Search Network
Google Display Network
Affiliate Marketing Networks
23. DIGITAL MARKETING FOR LEAD GENERATION
Search EngineOptimization (SEO)
Pay-Per-ClickAdvertising
DisplayAdvertising
Google Search Network
Blogging and other content marketing channels
Email marketing
24. DIGITAL MARKETINGTO EDUCATE POTENTIAL
CUSTOMERS
Blogging
Press releases
Email marketing
Social media