Lewis Marketing

7 Steps to Increase Your Instagram Engagement

Merisa Lewis — Tue, 11 May 2021 22:25:28 +0000

There’s no question that social media has become one of the most powerful tools in a business’s marketing arsenal. These media platforms are teeming with content-hungry users looking for news, entertainment, and the latest products and services to get their hands on. And while Facebook might be King of social media, Instagram has taken the scene by storm since its inception in 2010. Today, the photo-sharing platform hosts more than one billion users worldwide and has been proven to generate four times as many interactions as Facebook.

These interactions, or engagement, are the true drivers of your Instagram success; having a big audience is pointless if they’re not interacting or connecting with your content. This is because the Instagram algorithm uses each account’s engagement rate to boost its visibility and recommend it to other users. If you’re not getting much engagement, your account will eventually be drowned out by others who are.

So, let’s take a look at how you can increase your online engagement and best leverage your Instagram account to achieve your brand goals, whether business or personal.

What Counts As Engagement?

In order to increase your Instagram engagement, you first need to know what metrics you’ll want to play at. These metrics basically measure your audience’s interactions with the content you share, and are the things you’ll want to focus on in order to increase your engagement.

On Instagram, the following metrics are all constituents of your overall engagement rate: –

- Likes
- Comments
- Saves
- Shares
- Mentions
- Direct Messages
- Brand-specific hashtags
- Click-throughs
- Followers

It might sound a bit vague; can you really influence your audience to save or share your content to their personal platforms? The answer is yes, and luckily, we’re about to tell you exactly how to do it!

1. Define Your Brand

First and foremost, you need to have a distinct brand persona that is true to your personality as a business or individual. How do you want your audience to perceive you? What look, style, tone, and voice do you want to have?

It is essential that this persona is consistently reflected across all your content. Audiences find it easier and more enjoyable to relate to a brand that has a set of characteristics because it makes them feel more connected to it.

For example, Nike is cool, athletic, motivational, exciting…

What do you want to be?

2. Define Your Target Audience

Okay, so now your audience knows who you are. But, do you know who they are?

You have to know exactly who you’re targeting. How old is your audience? Where do they live? How much do they earn and spend? What are their interests? What kind of content do they consume on Instagram?

The more information you can gather about your audience, the more you can cater to their needs through carefully-curated content.

While you can roll up your sleeves and do the grunt work of researching all these questions, Instagram has made things easier for businesses by providing a Follower Breakdown. This gives you several audience insights such as Top Locations, Age Range, Gender, and Most Active Times.

3. Keep an Aesthetic Account

Yes, we all know beauty is subjective. But, there are just certain things on which there’s a general consensus.

You want your audience to have a pleasant experience while scrolling through your page. That won’t be the case if your posts are full of mismatching colors, random layouts, and erratic text.

Try applying and maintaining a theme to all your posts. For example, you can decide on a specific color palette for your posts, or have a sequence where you alternate between different types of content (text, photo, video, etc.). If you prefer uploading posts with white margins, then stick to that; having different layouts throughout your page can make it look messy.

For more inspiration on how to make your page aesthetically-pleasing, check out this article by Hootsuite!

4. Diversify Your Content

While looks are important, they certainly aren’t everything. You can have the prettiest Instagram feed, but if your content isn’t relevant or interesting in the eyes of your audience, you won’t get anywhere.

Diversifying your content is the best way to ensure that you’re catering to your audience’s different tastes while keeping it fun and exciting. You can post different types of content such as photos, videos, or informative text, and you can display this content in different forms; photos, IGTV videos, carousel posts, stories, live videos, etc. Instagram provides a bunch of options, so why limit yourself to just one?

The display form you use for your post can also affect the amount of engagement it garners. For example, carousels have been shown to get more engagement than single-photo posts.

Stories allow you to use stickers and polls to get your audience interacting with your content, which all adds up to your engagement rate.

Similarly, try posting content that you believe your followers would want to share on their pages or save to look at later. Remember, shares and saves are both counted as engagement metrics!

5. Incorporate CTAs in Your Posts

Incorporating calls to action in your posts, such as clicking on a link in your bio, tagging a friend in the comments, or using a branded hashtag is an effective way to make your audience feel involved and connected with your brand and, in turn, boost your engagement rate.

A smart way to get people to take action on your post is by asking them a question or inviting them to discuss a topic.

For example, you can end a caption with something like “Can you relate?” or “Have you tried this before?”. You can be as creative as you want with the questions, but always make sure they’re relevant!

6. Be Transparent

If you really want to reach people, brand transparency and authenticity cannot be emphasized enough.

Your audience doesn’t want to see a fake, made-up version of your brand. They want to see it like it is; the good and the bad.

You can encourage transparency in your brand by giving your audience a look into what happens behind the scenes. What kind of processes take place in order to produce your final content? Does your business have employees? Let them share their stories.

People don’t relate to perfection. You have to be you.

7. Post Consistently

Finally, you need to be able to keep your followers hooked!

You know what they say, right? Out of sight, out of mind. You want your audience to see your content on a daily basis and have it become a part of their Instagram experience. On the other hand, you also want to avoid bombarding them with multiple posts on any given day.

A good rule of thumb is to post 1-2 times a day. Obviously, things don’t always go as planned, and you might find that you’ve missed a post or two. That’s fine! Just try not to go more than two days without posting any new content.

Growing your Instagram business and increasing engagement is not an easy task. However, it’s a learning experience, and you can rest assured that you’ll get better at it with practice.

Use the tips above to get yourself started on the right track, and if you do it well, you’ll be seeing those engagement metrics going up in no time!

The post 7 Steps to Increase Your Instagram Engagement appeared first on Lewis Marketing.

Social Media for Small Business

Merisa Lewis — Fri, 30 Apr 2021 22:24:59 +0000

Introduction

Social Media may not be the first thing on your mind if you wear multiple hats in your company. Business operations that keep the lights on are always the number one priority—leaving little to no time for social media marketing.

Studies have shown that social media users regularly interact with companies via social media. If a customer can’t get through to tech support, they’ll voice their opinion online.

Social media gets a faster response than waiting in a phone queue for the next available representative when you are frustrated with a company.

You could kill two birds with one stone if you created a couple of social media platforms. This article will provide several suggestions on how to leverage social media for your small business.

1. Find Your People

2. Identify your Customer Journey

For most companies, the ideal customer journey is to reach the intended goal of sales, leads, or driving engagement in one or two steps. Unfortunately, most companies’ customer base is more complex.

Studies have shown that 92 percent of consumers abandon a company’s website without purchasing on their initial visit. Although this seems problematic, this valuable data can be insightful for identifying your customer’s behaviors.

The ideal customer you created for your online persona can now help you build out a Customer Journey. You know this person’s likes and dislikes, which means your website should be able to keep their attention and reach the desired goal.

Suppose you don’t see the results you wanted. In that case, reporting platforms like google analytics can help define the steps in the funnel that your customer goes through.

3. Track Your People

Having difficulty getting the results you want, likely, you don’t have enough data. Tracking and measuring the effectiveness of your social media content is critical to building brand equity.

Without data, you’re just throwing things out, hoping that something will stick. Google Analytics is a free tool that can track every page on your website. It also allows you to create custom metrics for each social media campaign you run.

Once you create a Google Analytics account, Google provides you with step-by-step instructions on adding tracking code to your website.

This information provides insight into how successful a sales promotion is going or if your readership has increased for a particular blog post.

The more you can track and measure, the more you know about who is interacting with your brand. Tracking also gives an insight into which areas of your business are working well and which areas need improvement.

Over time this information can be used if you want to leverage your brand for B2B marketing.

4. Plan Ahead

Now that you have the hard stuff out of the way, it’s time to create content. I’m also glad you’re still reading; this shows your serious about getting this social media thing right for your business.

Creating content may seem like a tall task if you don’t have a creative background, or so you may think. Making your post look pretty is just half the battle. As an industry expert, you have a plethora of knowledge to offer your followers.

Your online persona is an extension of your brand; you want the content to match that. If your company’s ideal customer is a millennial in health and wellness, your content should show that.

The rule of thumb before you start posting on social media is to have a plan.

Create a social media calendar that is two weeks ahead. If you wear multiple hats in your organization, set aside a couple of hours one day of the week to come up with your content. Once you’ve knocked out the schedule, you can go back today to day operational tasks.

Everyone involved with the social media portion of the business must know what’s on the content calendar.

There will be times when social media will take the back seat to more pressing issues, and that’s okay. The goal is to implement a system that will make your job easier and still build your digital presence.

5. Optimize

material will be a hit, and that’s fine. The goal is to optimize through testing your campaign strategies to see what works for your business.

Set a timeframe that you want to test your campaign strategy, then compare and contrast the results to see which posts are performing the best.

If you decide to run paid ads, you can set up the A/B Test. Which will give you insight on which one of your ads or sponsored posts performed the best?

Pro Tip:

Create 2 Ads sets for your A/B Test, run the campaign for a month and see which ad does the best.
Replace the underperforming ad with one from the second set of ads and rerun the campaign.
Once you have the result from that campaign, replace the underperforming ad with the last image and rerun the campaign for one more month.

Conclusion

As a small business, social media is not at the top of the priority list. That doesn’t mean it can’t be an extension of your brand that increases your awareness in the marketplace.

Social media shouldn’t be something that you need to stress over; it can be one of the areas of your personable business.

Digital Marketing will continue to grow, and your business doesn’t want to be last to the party. So, find your people, identify your customer journey, track your people, plan, and optimize.

At this point, you have nothing to lose by creating a couple of social media accounts for your business. If social media still isn’t for you consider hiring a professional within your budget to manage your pages.

Lewis Marketing offers an array of social media package for companies of all sizes.

The post Social Media for Small Business appeared first on Lewis Marketing.

Does Email Marketing Work?

Marko Tintor — Sun, 24 Jan 2021 05:00:50 +0000

Introduction

When we talk about email marketing, our minds immediately go to those annoying emails we get from various companies that may not interest you. Often half of those emails are deleted, and half goes to the spam folder. This is why businesses overlook email as a marketing channel in the beginning.

But what we often forget is a lot of emails are from companies we like and the services we use and interact with every day. Often overlooked as a Marketing channel compared to social media or paid ads, email marketing still has the highest ROI.

Today, we will discuss why email marketing is still relevant and the benefits of implementing an email marketing strategy.

What is Email Marketing?

Email marketing is a form of digital marketing through which you can advertise all your products or services. This form of marketing is great because you can build a robust database of customers. Someone that opts into your email list is a hot lead, so the cost per conversion is lower than a paid ad or social media post.

These offers do not have to be strictly new products or services; they can be various promotions, discounts, and news about your company. When you gain your customers’ trust, they will start purchasing your other products when promoting them through email. There are many ways you can gather email addresses from visitors on your site who want to buy your products, but here are some of our favorites:

Popup forms

You can make some popup forms in which you ask your customers to provide their email address to be updated on news about your organization. It is best to make your popup forms appear when the customer wants to exit your website. A great way to entice visitors to opt-in to your list is to offer a freebie.

If you have a service-based business, you can offer free shipping on the first order or a certain percentage off of they order.

Pro-tip: Add a double opt-in to your sign-up form to ensure that your emails do not go to spam

Funnels

Once someone opts-in into your email list, they should be entered into a sales funnel. Funnels are a series of emails that a subscriber receives to entice them to purchase your products or book a service. A sales funnel can be as long or short as you want, but we recommend at least three emails in the sequence. Clickfunnels is an excellent platform to set up your nurturing series; other email marketing providers also provide sales funnels.

Why Is Email Marketing Important?

Email Marketing is far from extinct, as you can tell from the number of emails you receive every day from different companies. But the question is, why exactly is it important?

The answer to that question is conversions. When you omit email marketing from your business strategy, you leave a lot of money on the table.

Imagine if a customer wanted to buy a product from your site, put it in the cart, and eventually forgot and left the website. If you haven’t set up a popup form or a funnel before the checkout, you can’t know who that customer is. That information would allow you to retarget them by sending abandoned cart automation after a certain period.

When you send them an email, you can remind them of your products, but you can also give them a discount or some benefits to get them back and buy the product. Many companies provide discount codes for customers to use on their website.

Benefits of Email Marketing

Email marketing can provide many benefits to your business. We have selected the best ones, and they include:

Low Cost

“For every $1 you spend on email marketing, you can expect an average return of $42”- DMA, 2019.

Investing in email marketing can improve your bottom line and still produce the highest ROI compared to other marketing channels. Email marketing doesn’t have to change algorithms much like social media, making this channel more effective in getting your messaging to your audience.

If creativity isn’t one of your strengths, there are tons of platforms that design email templates for little to no cost. With a template, all you need to do is replace the generic information with your content.

Some of our favorite email marketing platforms are MailChimp, ConvertKit, Constant Contact, Klaviyo, and Hubspot.

Engaging with the audience

Your customers are the most valuable part of your business. Without email marketing, you are missing out on an opportunity to connect with your customers. To build a strong brand, you have to gain the trust of customers. Email marketing offers you an avenue to build brand awareness and sell products at the same time

Collecting Feedback

If you want to build brand equity, it is essential to have a good customer experience. One of the best ways to gain insight into your business from an objective party is email marketing.

You can send your customers a feedback survey; they can express all their likes and dislikes about your business. That way, your audience will build your brand, and you will become one big community.

You can always leave such credentials on your site, but it is much better to ask the people who signed up for more communication from you and who love your brand. This way, you will get more honest answers and meanings to both you and your customers.

Conclusion

We’ve established that email marketing is not irrelevant. We encourage you to take a look at your current marketing strategy and your operating cost. If email marketing can lower your cost, why not give it a take.

You will see a significant improvement when you add email to your marketing strategy. If you need help coming up with a solid email marketing strategy, creating sale funnels, or implementing a campaign, visit lewismktg.com. We are here to tell your brand’s story the right way.

The post Does Email Marketing Work? appeared first on Lewis Marketing.

How to Increase Brand Awareness

Marko Tintor — Fri, 08 Jan 2021 00:48:44 +0000

Introduction

Branding your business can either be exciting or a headache? Do you already have an established brand, but your ideal customers don’t recognize it? If you answered yes, you’re in the right place.

Once you’ve done all the fun, creative aspects of branding like picking the colors and designing a logo, you may hit your first roadblock. This article will provide you with some tips to increase your brand awareness.

Create a Brand Identity

An excellent way to increase brand awareness is by creating a brand identity. It doesn’t have to be anything special, but it should be the go-to guide for your business.

Aside from your logo, your brand identity includes the tone of voice, mantra, and overall aesthetics. To create a memorable brand, it has to resonate with your target audience. This can be a challenge in your business’s beginning stages because you may not know what your target market is or who your ideal customer.

Before you bring your business to market, it is essential to research your ideal customer and what they are attracted to. Once the market research is complete, it will make it easier to build a strong brand identity.

You also have to make sure that your differentiation point is clearly defined because you don’t want any confusion with your competitors.

Improve SEO in your Copy Writing

Search Engine Optimization is generally one of the best ways to draw traffic to your site, thus increasing your brand’s awareness—about 70% of people who search for something on google click on the first five sites offered.

If you are in those top 5, many people will likely visit your site, get to know your content and brand.

That is why SEO optimization is essential, and you can improve it in the following ways:

Keywords – insert relevant keywords regarding your niche and topic.

Links – use inbound and outbound links in your articles.

Guest blog posts – create guest blog posts for other websites with your link.

Use alt tags – when you insert media to your site, make sure you specify them with the alt tags so that different search engines could locate your page.

Search engines are susceptible to these things, so you will improve your ranking if you improve your SEO strategy.

Giveaways

When they know nothing about a brand, people often do not want to buy their products or services because they are not sure of the quality. You are probably wondering how they will even know what the quality is when they will not buy?

Do a promotional giveaway of your products so your customers will have a chance to test out your products and services before they commit. Freebies are a great marketing strategy because you can retarget these particular people later.

Aside from that, you’ll be building your brand awareness. If your products are as good as advertised, those who received a freebie may recommend your items to friends and family. This is marketing you don’t have to pay for.

Consider adding a lead magnet to your website that offers your giveaway. Or do a Social media contest that allows you to grow your following and still give a freebie.

Partner with Other Brands

Like you, many other brands also want to raise their brand awareness. One thing you could do to benefit both sides is to team up.

It’s also an excellent way for the audience to gain the trust of both parties. If your target audience trusts you, they will believe that the brand that works with you is of the same quality and vice versa.

Carefully choose the brand you will be partnering with. Before the partner begins, make sure you check the reputation of that brand. It is essential the partnership is mutually beneficial to all parties involved.

Run Ads

To reach a larger portion of your target audience is advertising. You have many options here, depending on whether you want to pay or advertise for free.

Paid advertisements

If you decided on paid ads, we recommended using Google Ads, Facebook, or Instagram.

Facebook and Instagram ads, you can easily launch ads on both social networks at once. To do this, you will need an ad account, which you can make at Facebook Ads Manager.

There you will have an additional guide on how to set up your ads and make them visible on Facebook and Instagram. You can customize everything, from the audience you’re targeting to the ad itself.

Another excellent option for paid ads is social media Influencers. Today influencers are trendy and have great power on the internet.

To find the best influencer for your marketing, you can use websites like influence.io, Upfluence, hypeauditor, and more.

Free advertisements

If you are on a limited budget or do not want to invest in ads, we recommend Quora. Quora is a free website where people post questions and answers on various topics.

To best utilize this platform, you should research relevant keywords or hashtags about your topic and niche.

When you find these questions, try to solve them by giving answers that will benefit the reader. Don’t just link your website, but first answer the questions and make some suggestions, and then link your website if they want to learn more about it.

Conclusion

Brand awareness is critical for your brand to become popular and for you to increase your revenue. Implementing some or all of the tips we discussed today will get your brand on track. If branding is new to you or none of your ideas are working, contact us today. We can help you tell your story in a way the resonates with your ideal customer.

The post How to Increase Brand Awareness appeared first on Lewis Marketing.

Types of Digital Marketing

Marko Tintor — Mon, 04 Jan 2021 02:34:03 +0000

Introduction

Marketing has advanced over the years, and digital marketing has emerged as a focal point of most marketing budgets. Remember when you had to pass out flyers around town to promote something? We’ve moved past that era, and now digital marketing plays an essential role in getting your message out to your target audience.

The internet continues to be crucial in the marketing space, and in this article, we will explain the different types of digital marketing you can use to take your business to the next level.

Before we explore the types of digital marketing, it would be helpful to learn what it is.

What is Digital Marketing?

Digital marketing utilizes the internet and online-based digital technologies such as desktop computers, mobile phones, and other digital media and platforms to promote products and services.

Today, digital marketing has a special connection with its customers through various software that tracks precisely what certain people are interested in.

The content itself can vary based on the individual or company, which makes the industry unique.

Let’s look at the different types of digital marketing. Digital marketing utilizes the internet and online-based digital technologies such as desktop computers, mobile phones, and other digital media and platforms to promote products and services.

Today, digital marketing has a special connection with its customers through various software that tracks precisely what certain people are interested in.

The content itself can vary based on the individual or company, which makes the industry unique.

Let’s look at the different types of digital marketing.

Affiliate Marketing

Affiliate Marketing is performance-based marketing used to recommend products or services
from a different business. You are probably asking how do you make money from that?

It’s very simple when you recommend a product or service and the customer purchases that product using the link you provided, you receive a commission.

There are thousands of affiliate programs you can sign up for to recommend their products. The most famous are Amazon and Clickbank.

Here is a quick summary of how affiliate marketing works:

Sign up

The first thing you should do is sign up for an affiliate program. You have many choices, and every program has different commissions regarding the product you’re trying to sell.

Choose a product/service

If your affiliate program has many services and products, choose the right one for you.

Get the link

The affiliate program will provide you with your unique link, which you will use for advertisement.

Share your link

There are many ways in which you can advertise the affiliate link. You can write a blog and tell people why that product is right, run Facebook ads, share on social media, etc.

Get Paid

The last and best part of it all is to get paid whenever someone clicks on your link and buys the product you’re advertising.

Most affiliate programs are free, but you also have some that are paid. Make sure you always read the terms of conditions before you decide to proceed with an affiliate program. This is important because it details your percentage of commission you’ll earn.

It is important to note that you have no obligation to this product; you are just advertising it. Your only job is to bring the customer to the site and buy the product; everything else is up to your affiliated company.

Content Marketing

Content marketing is mainly about writing and engaging with the audience. By the time you get so

me traffic to your blogs, people will start to trust you and buy what you recommend.

The process when you recommend something on your blog site by describing the product in detail and convincing people that it is a product for them is called content marketing.

Many people love writing and think that it is only necessary for the content they write to be good for advertising. But when they do, they soon realize that it’s not the only thing that matters. It is crucial that the content is of high quality, but other things can also help the blog’s success. Here are some of the essential things in content marketing:

Benefit

You can’t just write a pretty post without any value to the public. The writing must provide the right information and a bit of research. When you are creating content, you should also think about adding value to your ideal customer. How will your content set you apart from your competitors?

SEO

Search Engine Optimization helps you better rank on different search engines like google, bing, and yahoo.

Pictures

Are much more engaging to the viewers when you have a visual presentation of your writing.

Speed

When your site is loading too long, people tend to give up on it. Many factors are happening, but the most common issue is the pictures’ size. You can solve this by resizing and compressing the images you want to publish on your site. The smaller the image size, the faster your site will be.

Social Media Marketing

Social media marketing is one of the most popular channels amongst young influencers, startups, and corporations. Since social networks are flooded with audiences today, this type of marketing can reach great heights.

You can gain popularity on social media in various ways, including displaying your work and success.

Once you build trust on social media, you can start leveraging your brand through advertising and communicating with your target market.

It’s always a good idea to do market research before you start doing an advertising campaign on any social media platform. The goal is to maximize your ad spend to get the best results possible.

It’s always better to build an audience over a more extended period and gain your followers’ trust when doing social media marketing.

Search Engine Marketing

Search engine marketing is very similar to SEO, but it is paid. Through this form of marketing, you pay for placement on different search engines. For example, have you ever googled something, and the first few results have an ad tag, that is, Search Engine Marketing?

This is a bit more demanding because you still have to have already earned money to pay for advertisements. Many people in business invest money in this type of marketing because it is the most effective.

Many people google every day, and just one good and useful advertisement can lead to clicks and purchases.

This is how large companies advertise their services and bring new customers to their site.

Conclusion

As Digital Marketing continues to grow, so does the number of solutions for your business. Each business requires a unique set of digital solutions. Social media may work for your business, but affiliate marketing may not.

We know you’ll make an excellent choice to get your business to the next level. If you need help with any digital marketing services, make sure you contact us at Lewis Marketing.

The post Types of Digital Marketing appeared first on Lewis Marketing.

Blue Ocean? What is That?

Merisa Lewis — Wed, 30 Dec 2020 19:57:17 +0000

Introduction

My first encounter with the Blue Ocean Strategy concept came while sitting in a grad school strategy class. My professor asked the question, “blue ocean or red ocean”? With a puzzled look on my face, I wondered what she was talking about. She later explained the framework, which would change my approach as a marketer moving forward.

If you were as puzzled as I was, consider yourself lucky because this is Blue Ocean Strategy 101. In this article, I will explain what a blue ocean strategy is? How to adopt a blue ocean to your business model.

What is a Blue Ocean Strategy?

The concept became mainstream in 2005 after professors W.Chan Kim and Renee Mauborgne wrote a book titled Blue Ocean Strategy How to Create Uncontested Market Space and Make Competition Irrelevant”. Blue Ocean Strategy is described as the ideology of pursuing differentiation and low cost to open up a new market space and create new demand.

Done correctly your business is supposed to be more profitable. Companies using this approach are proactive in planning for the future practices of their industry. Think about your current marketing strategy; are you proactive or reactive?

Red Ocean

The high level of competition in the marketplace turns the “ocean” bloody hence the term “red ocean.” Businesses have to choose between value or cost because both cannot operate in this structure.

Most companies operate with a “Red Ocean” strategy because it’s easier to mimic the competition. Red Ocean is a reactive approach and emphasizes beating the competition. The phrase “if it ain’t broke, don’t fix it” describes companies using this approach.

Most industries are Red Oceans because they offer similar products and services. Food example, fast-food restaurants at their core all have similar business models. Quick serve food at a reasonable price. They even emulate similar discounts like the “buy one get one free, or a $4 meal deal”.

Blue Ocean Vs. Red Ocean

When comparing the two, the best way to differentiate the terms is by thinking about the driving factor for operations. The red ocean represents something that already exists in a given marketplace. In contrast, a blue ocean has not been created or seen in a particular industry.

Disney has perfected its blue ocean strategy throughout the years. First with the addition of resorts and product line extension of their theme parks, to the wristband Technology used to reserve particular services in the theme park

Both strategies want to maximize profit, but the level of competition differ. Any successful business should strive to limit the amount of competition in their segment of the market. Inherently thinking this manner will allow you to become an industry leader and operate within a blue ocean.

Adopting a Blue Ocean to Your Business Model

Now that you understand what Blue Ocean Strategy is, you are probably thinking, “how do I implement this to my business”?

Following the 5-step layout in Blue Ocean Shift, you can begin to shift from red to blue. Using the 5-step layout, we can look at the ride-sharing industry. Uber was able to gain market dominance in the ride-sharing industry because they eliminated the monopoly that was private taxi services. Offered a cost-efficient way for persons to travel around town.

When thinking about your blue ocean shift, you should experience the industry you are currently operating. Doing a simple SWOT analysis exposes threats and opportunities for growth in the industry. You may now take those opportunities and threats and formulate tactics that will change a shift.

Uber saw an opportunity in the taxi industry because people had few alternatives. This aligned with the blue ocean strategy because they could leverage differentiation and low cost to create their segment.

Taking an objective look at your current marketing and overall business strategy may be difficult but in order to grow, it’s necessary. You can’t fix what under the hood if don’t open the hood and take a look

Conclusion

Blue Ocean Strategy is a shift in thinking. Competition is irrelevant because you are competing with yourself. This will allow you to be proactive rather than reactive. Constant innovation is the only way to ensure your blue ocean is sustainable. If you need help identifying your Blue Ocean Strategy contact us today.

The post Blue Ocean? What is That? appeared first on Lewis Marketing.