A “blue ocean” is a market where there is no competition or much less competition. It means searching for an emerging problem with which very few lawyers associate, and for which the impact is so significant that solutions for it have no pricing pressure.
Relatively unexplored and untainted by competition, blue oceans are vast, deep and powerful in terms of opportunity and growth. You’re better off searching for ways to gain "uncontested market space" rather than competing with similar firms and lawyers.
Gartner research found that a company’s brand, products and services, and pricing are no longer the main drivers behind customers’ purchase decisions. Instead, the greatest differentiator between B2B sellers is the sales experience. Buyers said they want to be challenged to think about things more creatively. As explained in the book The Challenger Sale, the challenger approach is one in which the seller:
actively teaches their prospect,
tailors their sales process, and
takes control of the customer conversation.
According to a Biznology study, 82% of B2B decision-makers think commercial/industrial salespersons are unprepared. When Forrester talked to executives about the time they spend with salespeople, they found a lot of frustration with the level of preparedness. Here’s how to turn this to a positive for you.