Most business books focus on beating the competition. Blue Ocean Strategy (Harvard Business School Press, 2005) focuses on breaking out of red oceans of competition, creating new markets instead. Here are some ways to find alternative markets: alternative industries, strategic groups, buyers, complementary product and service offerings, functional/emotional appeal, time.

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Blue Ocean Strategy is a good book for established companies that are finding it challenging to differentiate themselves, but it’s also a good read for companies that are starting out and who are looking for their unique selling propositions (USPs).

I’m going to go over different business ideas, sketch red ocean / blue ocean strategies for each, and see about talking to lots of people in order to help validate the sketches. Looking forward to it!

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Here’s my visual summary of Stephen M. Shapiro’s 2011 book Best Practices Are Stupid: 40 Ways to Out-Innovate the Competition. It’s a good book for people handling innovation management in medium and large enterprises, although small business owners might still be able to apply a few tips like the one about getting out and observing your customers (Lessons from Indiana Jones, p.69) and when to buy/innovate/hire solutions (There’s no such thing as a “know-it-all”, p.42).

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Nolin LeChasseur of Brainrider shared these 5 key elements of a B2B content marketing strategy:

1. Prioritize measurable objectives
2. Articulate the business you’re in using customer terms
3. Profile target customer segments
4. Identify content that’s working now
5. Develop content aligned with what your customer wants to know

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For more details, check out the slides and the video of a previous talk!

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Text:

The 5 Key Elements of a Better B2B Content Marketing Strategy

CUSTOMER-focused content that demonstrates ExPERTISE
– supports programs
– easy to share
– measurable performance

BETTER CONTENT IS NOT ABOUT YOU

Solve problems

Google – popular searches: Not branding, but problem solving

Key questions:

What’s my problem? Define, build consensus
– Trends
– Benchmarks
– Analysts
– 101, How-to

How do I fix it? Different approaches
– Comparisons
– Assessments
– Pitfalls

Are you right for me? Credentials, decisions
– How to buy
– Business case
– Expertise

Align it with your programs!

Acquire -> Nurture -> Determine sales readiness

1. PRIORITIZE MEASURABLE OBJECTIVES

Awareness: Find you
Acquiring prospects: Identify and give permission
Nurturing prospects: Active, Engaged; Segmented interest, profile info
Determining sales readiness: Qualified leads, readiness to buy
(Retain/cross-sell/upsell)

2. ARTICULATE THE BUSINESS YOU’RE IN USING CUSTOMER TERMS

I’m in the good times business.

3. PROFILE TARGET CUSTOMER SEGMENTS

What do your best customers have in common?
Ideal customer?
Events/initiatives that create a need?
Ex: acquisition, repositioning

4. IDENTIFY CONTENT THAT’S WORKING NOW

What? How organized? Most engaging? What do people like about it?
Repurpose: anything > 5 min, split it up and repurpose
Make sure this is aligned with your business

5. DEVELOP CONTENT ALIGNED WITH WHAT YOUR CUSTOMER WANTS TO KNOW

Use their words

How to… Should we… How do I… Comparing… Do I need… Choosing…

Post-it notes: Group based on key questions, topics: 3-6 works well

Measure! Categories: engaging?
Reorganize: Format -> Customer needs

Examples: Empathica, STR, Livingston, Hubwoo