Monetization Playbook #39—Deep Sea Strategy Fishing

Monetization Playbook #39 —

Okay, marketing folklore tells you to be a big fish in a small pond. But at some point, if successful, you'll be a dolphin trying to squeeze in a goldfish bowl.

One option is to move into a bigger pond. Let's call it an ocean. But, stepping into shark territory is the last thing you're ready for straight out the bowl. So the key is to try to find what W Chanh Kim and Renée Mauborgne termed a blue ocean strategy.

There are many parts to their strategy, but my favourite is the value innovation framework. This prompts you to view the current industry's value delivery norms and features and then consider whether to ERRC

Raise

Eliminate

Reduce

Create