How to Create a Blue Ocean Strategy for a Financial Company

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Updated February 24, 2018
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Blue Ocean Strategy - Financial Services Company

How to Create a Blue Ocean Strategy for a Financial Company


Tim Brown

Tim Brown is the owner of Hook Agency, and strategic marketer focused primarily on driving traffic and leads for small businesses and construction companies.

 

Questions that help determine that unique value proposition

 

  • When clients are choosing between you and another company and have gone with you – what did they cite as the key reason they did that?
  • What is it that you do extraordinarily well that is highly beneficial to your customer?
  • What are your customers strategic initiatives, and how are you helping them accomplish them in unparalleled ways?
  • What problem / issue are you addressing that it is a game changer for your customer?
  • What could you add or change that would put your offering in a totally new category?

 

How to differentiate yourself from the pack?

STOP BLENDING IN

  • If your competitor can say it, it’s not special
  • Customer service is great, but how is yours different than theirs
  • Whatever your blue ocean strategy / your ‘unique value proposition’ is do your best to Show it visually with the photos you use in your marketing materials.
  • Give specific, evocative – emotional examples, such as stories and testimonials that showcase your most important competitive advantage
  • Ask – your best customers, what specifically they care about that you implement better than competition, and go all in on those things in the way you showcase your specialty.

The Basics of Blue Ocean Strategy

The ocean is red with the blood of competitive markets, but your goal is to find a blue ocean. One that doesn’t have as much competition. Examples include Cirqu du soleil (so far above other ‘circus’ style performances it’s not even in the same league), and european movie theaters that offer childcare as well.

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Tim Brown

Tim Brown is the owner of Hook Agency, and strategic marketer focused primarily on driving traffic and leads for small businesses and construction companies.

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