Type your product or service into a search engine and you may get millions of results. The truth is, the market is oversaturated in some areas, such as finance, wellness and digital retail.
In these spaces, standing out is tough. Whether through lower prices, higher quality or simple convenience, you need established men to find ways to position your product as a better choice than others in the space.
1. Know thy competition
All those search results aren’t completely bad news for you. Use them to your advantage by clicking on the top hits. They are, after all, your competition.
Research features, price points and return policies. Take note of branding and messaging. See if you can find information on their suppliers and procurement strategies. Scroll through their social media and pay particular attention to five-star and one-star reviews.
Anything consumers don’t like about your competitors is a chance for you to do better. Something your competitors do especially well is a base to cover in your products or services.
2. Carve your niche
Within every ount of niches. Some landscaping companies specialize in lawn care; within lawn care, some providers stick to either B2C or B2B services.
In a crowded space, it may seem like every niche has already been taken. If so, don’t try to compete directly; instead, create your niche.
Dating sites have done this well. VeggieDate debuted as a site specifically for vegetarians. Geek2Geek specializes in connecting proud nerds. Alikewise pairs people up based on their book tastes.
If you’ve already launched your product or service, this ent, do your research. Is the niche large enough to support your company? What are those consumers’ pain points? Before diving in, make sure you can meet them profitably. “5 Ways to Differentiate Your Products and Services in an Oversaturated Market”の続きを読む