We’re gonna talk about the three steps to your very own blue ocean strategy that you can use to figure out your own blue ocean.
If you listened, I was talking about what is a blue ocean.
What’s a red ocean?
A blue ocean is basically talking about your competitive, your market.
Your market where you advertise, where you sell, where you find your customers.
So when they talk about a red ocean, they’re talking about lots of competition.
There’s lots of competitors.
There’s lots of companies doing the same thing as you.
They’re selling the same products and services, the same courses and you’re just in the same exact pool, ocean.
And you’re fighting between each other for the customers.
And then eventually it gets all bloody and that’s why, they talk about red oceans.
The blue ocean is where you are able to have no competition and the customers are there.
They’re not anywhere else and they’re just there for your product because you figured out how to give, how to create a blue ocean.
The three steps to your very own blue ocean strategy.
So first, for number one is you gotta think of your target market.
What is your market?
What is it that you normally would think? Or what anybody else would think is your market..
For example, if we think and I’m gonna take an example here from the book I’m listening to.
He talks a lot about circus today which is a circus company that puts on circuses across the world.
And it’s very popular and they’re making a lot of money and they’re in Vegas or in lots of places but they created a blue ocean of circus entertainment and the way they did it is they looked at their current market right there.
It’s a traveling circus, right?
With animals and everything else and they looked at how that was declining and why was declining.
More and more people were not okay with the animal being not treated right and when the costs of circus got kept going up because they had to account it for that, they had to spend more money on food for their animals.
Make sure they’re more comfortable, the better accommodations. And then traveling and all.
That was all very expensive and they were getting less people to come to the circus and the people weren’t willing to spend more so even if they raised the prices, they weren’t going to recover their expenses and that’s why the circus market, the Traveling Circus doesn’t really exist anymore.
So what did circus said they would do to create a blue ocean so they looked at the market, they figured out what is is that people didn’t like about the current market, the current circuses.
What they didn’t like and what it was that they did like.
So they looked at the current market.
What is good about it? What’s bad about it?
Just talk. Just brainstorm your market. Whatever your market is.
If you’re trying to sell a course on Facebook strategies. Look at the current market.
How many people out there are selling Facebook strategy courses?
And what is it that the people that are buying those courses?
What do they like about the courses?
What don’t they like about the courses?
What about just the first course?
So if you’re looking at your current market, you brainstorm, what do people like about it?
What do people not like about it?
What do people like about your competitors?
And not like about them and what’s going on, right?
What is your current market? What does it look like? So that’s number one.
Number two is about looking at the industry so your market is a specific market.
A niche or maybe a set of interests or something.
A specific thing and the industry and is broader than that.
What else is in that industry?
Like for example, if we’re talking about circus, it’s about entertainment, right?
What are people entertain about?
They’re entertain yet they go to the ballet. They go to the movie theater. They watch TV. They go to sports events. They go to concerts, you know.
All these different things. They’re all in the entertainment industry.
What do people spend money in the industry? In the entertainment industry?
What is it they like about those different industries?
What is it they don’t like? What are commonalities across the different markets inside that industry, right?
So for your course, if you’re trying to sell on Facebook course, look at ads courses on ads on Facebook, courses on using groups, courses on using all sorts of different courses around social media, about SnapChat even, you know Twitter and Instagram and LinkedIn.
Look at the different courses.
What do people like about the courses?
What don’t they like?
What about the platform they’re on?
What about the teachers?
What do they like about teachers?
What do they like about the structures?
Ask about the industry in general and find out what is it that people like and don’t like.
Number one, you look at the actual market that you’re in. What people like and don’t like.
Number two is you look at the industry that your market is in and you expand to look at what people like and don’t like there.
Number three, you come up and that’ll only come to you after you have these stats and then brainstorm them but number three is come up with things that you can offer in your product.
That appeal to the outside in the industry outside of your market, right?
For example, circus.
What they did is they put together, they did a couple things. First, they eliminated the multi circus.
What do they call it platform?
Or whatever you know where you had more than one short of time.
It did a lot of things multiple shows meant more entertainers, more expenses to put them on and plus the people that were in the seats they were distracted by one show and the other show they had.
They couldn’t really watch all that whereas so now certain said has a single show and the other thing they did it.
They brought in the other.
What people like in the entertainment?
They brighten lots of music, lots of colors, lots of lots of lots of lights.
Anyway, so they changed what a circus was into more of an entertainment, more of a broader thing.
So for your course, instead of having a Facebook course, maybe you have a Facebook course that talks about a little bit about the other platforms at the same time and what do you do?
How do you get people interested in your course versus other courses?
Maybe it’s about your message when you talk about your product.
I can’t give you an example right now because I haven’t really been thinking about that myself.
I’m really just listening to the audio learning about this creation of a blue ocean but that’s the basic idea.
You look at your current target market. What it’s about ? What are people in there? What do they think? What do they feel?
You look at your industry. Not the industry that your target market is in.
What else is going on now?
Of course in the audio book, they talked about even expanding it even outside of that and and thinking even more and that’s certainly awesome.
The first step is just think about your industry and what else is going on in there and try to create something that appeals to the people in the industry not just in your target market.
Alright, so I hope you enjoyed this and if you think anybody else needs to hear this message and please go ahead and share.
I’m sure they’d appreciate it and I would, too.