Blue Ocean Strategy in 6 Steps

Standing out in a large and competitive market can seem like navigating dangerous waters. What if we told you that there was a way to avoid this tough competition and sail smoothly to success?

Our detailed article on Blue Ocean Strategy, an approach that encourages companies to create new market areas, or in other words “blue oceans”, and makes competition meaningless, will guide you with simple and applicable steps.

Sail to new markets with blue ocean strategy

Blue ocean strategy can help you move beyond the competition and achieve true success by creating new markets with unlimited potential.

With this strategy, you can move beyond the markets saturated with competition, called the red ocean, towards the blue oceans, called calm market areas with potential. Let’s examine how you can achieve this in 6 steps:

• Re-establish market boundaries: The first step is about broadening your perspective. Looking beyond your immediate competitors and market, analyze industries and consider what factors you can change to create a new market niche. “Why?” next to the question “What if?” Search for the answer to the question. This step encourages thinking outside the box and encountering new opportunities that others have not explored.

• Focus on the big picture, not the numbers: Obsessing over numbers can blind companies. Instead, you should focus on what story does your brand tell? Instead of just focusing on your daily revenues, the blue ocean strategy allows you to think about what the long-term consequences of your services or products will be and use these results to create a new market niche.

• Reach beyond current demand: Instead of settling for the current market, you can reach a larger audience by expanding it. Identify non-customers and understand why they are not engaging with your market. The obstacles you may encounter may be related to factors such as price, access, ease of use or awareness.

• Get the strategic sequencing right: Creating blue oceans is not a random initiative. Proper sequencing and planning is required to be successful. It all starts with the buyer’s benefit. Your offer needs to be valuable enough to appeal to potential customers and encourage them to choose you over your competitors. Pricing should be done strategically to be both competitive and appealing to a wide audience. If the price is too high, it may drive potential customers away. If it is too low, it may be difficult for you to make a profit. Then focus on cost. Once you determine your strategic price point, make sure you can make a profit at that price. Finally, identify and eliminate in advance any obstacles that may prevent your offering from being brought to market. You can take steps such as creating a user-friendly platform, developing marketing and sales strategies, and offering customer support.

• Overcoming key organizational hurdles: Change is difficult, especially when it comes to changing the entire organizational mindset. Overcoming internal resistance and mobilizing your team towards innovation is critical. This step involves open communication, setting a vision, and creating a culture that values ​​creativity and innovation.

• Perfect execution: Ideas are only as good as their execution. This final step emphasizes the importance of presenting your innovative strategy with precision and excellence. It involves meticulous planning, constant monitoring, and adapting to feedback and changes in the market environment.

Sailing into unknown waters

Of course, the journey into the unknown has some difficulties. However, it also carries huge rewards such as access to new market areas, reduced competition and growth potential. Remember; A calm sea never creates a skilled sailor. It’s the willingness to dig deep and explore new possibilities that creates true market leaders. Are you ready to chart a route towards the blue ocean?