What Is A Digital Red Ocean Marketing Strategy?
A digital red ocean marketing strategy refers to a digital marketing strategy that is focusing on ‘beating the online competition’. A traditional ‘sacred cow’ marketing strategy where often large companies compete within ‘existing online markets’, often leading to intense and bloody battle and limited growth opportunities.
In this traditional marketing strategy, existing and new businesses strive to outperform competitors by spending a lot of money on reaching as many people as possible with pecial offers, sales, discounts and other aggressive marketing tactics watching what the competitors are doing and doing the same of beating them on price for instance.
The goal is to capture a larger market share in traditional vertical ‘online markets’ at the expense of traditional, often large rivals, ‘large dinosaurs’, which often results in decreased profit margins, low customer experience and employee experience.
More: Dinosaur Management, Sacred Cows In Management & Hire Tony As AI Speaker And Facilitator
While digital red ocean marketing strategies can sometimes be effective in certain situations in specific industries for companies that produce physical, tangible products for instance and that want to be or become a Product Leader, they carry a high risk of failure due to the intense online competition including the online shakeout after the democratization of AI started in 2022.
That is why you have to implement the right digital blue ocean marketing strategy, in line with the right digital blue ocean business strategy if you want to survive and thrive the Great AI Layoff:
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