DISRUPTIVE MARKETING-A NEXT BIG THING IN BUSINESS
In a conventional marketing approach, companies merely give emphasis to attract customers to their business. Due to growing competition and reshaping the existing offering, there is a hidden need of disruptive marketing. Business wants to stand out in a crowded space, disruptive strategies are the foundation for the marketing plan. It is a ‘think different’ approach in the field of marketing and makes you rethink and revisit all conventional marketing and communication rules.
“Disruption is all about risk-taking, trusting your intuition, and rejecting the way things are supposed to be. Disruption goes way beyond advertising; it forces you to think about where you want your brand to go and how to get there.” – Richard Branson, Founder of Virgin Group
– Richard Branson, Founder of Virgin Group
Disruptive marketing is a customer centric and it has not any concern with the direct sale, based on the technological innovation. It leads the businesses towards the listening, understanding and analyzing their customer, identifying the trends, and adds value to existing offering to formulate the best out of best proposition. By putting it into practices, marketer’s objective is to create a buzz among the customers. It directly attacks the customer perception towards the brands and industry by engaging them.
Example: Reliance Jio, World’s largest start-ups
Because of the disruptive marketing strategy, nearly a year old brand, Reliance Jio becomes one of the most influential brands in India. Before its entry into India telecom sectors, people were facing issues regarding the prices of data and service quality. They figure out the hidden need of Indian consumer that high-speed internet at a very low price and they offered the same. They succeed in breaking the loyalty of customers to switch them. In a very short span of period, Reliance Jio becomes one of the largest telecom companies in such a market in which even entry was bit difficult.
Disruptive marketing is not about the narration but it is about the conversation with the customers. It analyzes the consumer behavior in order to grab the insights about customers. Disruptive marketing is more about the solution of the customers. The disruptive marketer has either of the following two reasons to implements marketing strategy.
New Market Disruption:
New market disruption has a concern with those customers whose demand is unfulfilled yet. In order to create a sturdy and brand new offering, marketers must have to study each and every aspect of consumer and its behavior towards the consumptions. It creates a new market and new product.
For example, Apple Inc introduces the iPad for those who need a compact but powerful device which can perform mobile phone as well as laptops tasks.
Existing Market Disruption:
Due to growing competitions, companies must have to updates it’s offering by reshaping those according to the need of existing customers.
For example, due to the internet revolution, Netflix has successfully transformed its business model from rental DVDs to on-demand video to its customers.
Change is a necessary and if you resist change, you are taking a huge risk. Businesses must have to compensate itself according to the ongoing era. Every company must be prepared for disruption, especially due to a technological attempt by competitors.
DISRUPTIVE MARKETING TRENDS:
Microsoft communication designer, Mr. Geoffrey Colon has indicated trends in his book “Disruptive Marketing: What Growth Hackers, Data Punks, and Other Hybrid Thinkers Can Teach Us About Navigating the New Normal”
Intelligent devices like smartphones, wearables, tablets, VR glasses, holo-lens will be dominating platforms for marketing. Due to increase in social networking, marketers must have to target individual personally which creates personalize bonding with customers.
For example, Oreo created an animated advertisement to promote new filled cupcake flavored cookies. On Youtube, this ad has more than five million views.
The engagement of the customers is highly depending on the transparency of the company. It will also help to customer to maintain the trust on the company. Conventional approaches are no longer effective in a digital marketing era. Today, those companies are highly rewarded which gives the emphasis to its social responsibility and those who admit its mistake if occurred.
The best example of implementation of transparency in the marketing is McDonald Canada’s campaign “Our food, Your question.” The company was struggling regarding a quality of the foods. Through this campaign, McDonald got an opportunity to dispel all rumors and give the answers to those questions which publicly asked.
In a disruptive marketing, content is a currency. Educational and entertainment contents which enhance the people lives, play a key role in the implementing the marketing strategy. According to the innovation in the technologies, the marketer must have to transform its content. If marketer fails to do so, competitors will avail the same opportunity.
The content marketing strategy helps the most reliable Brand Rolex to transform its marketing strategy from traditional to digital. They got succeed in blending the sophisticated classic images with the modern marketing strategy via Instagram.
User Generated Content:
The unique element of the user generated content is that it boosts the trust between the consumer and company. It considered an image, blog, testimony, and reviews, depicted the association with those who are knowledgeable regarding the source and offering. It gradually becoming a popular trend in marketing.
Starbucks created ‘White Cup Contest’, in which users uploaded the picture of their Starbuck cups by decorating them with under hashtag #whitecupcontest. They got 4000 entries in three weeks and winning design got the limited edition Starbuck cup.
Importance of Social Network:
Through social networking sites, marketing efforts become more personalized. Almost every social networking sites have their unique USP to attract people. Marketers cunningly use social media platforms to target the accurately. The marketer must have accurate metrics.
Social media makes people lonely but engaging them with digital content. Marketers here hit the home run for marketing by creating personalized content and sharing those on social media. It benefited companies in many ways like it saves millions of bucks for companies, effectively targeted the customers.