Ok, let’s face it, competing in a saturated market may not be the best idea to do, or the best situation to be in but, entering a saturated market can be a good thing, high competition means high demand so your market is booming and that is why everyone is aspiring to it.
additionally being in the saturated market means that your targeted clients already know it all when it comes to your product or service so you don’t need to aware your clients about how much your service or product is good for them you just need to let them know why they should choose you among others, and this is the most important question when it comes to entering these markets and to answer this question, here are few things you can do to answer it.
Don’t be a carbon copy
The first thing for you to consider when it comes to standing out in the very competitive space is very simple: don’t be a carbon copy. Now I’m not exactly saying or directing you to Reinvent the wheel and put that unnecessary pressure on yourself to do something unique.
However you should just be a little different, for example, we all know how disrupted is the car industry, and for decades we didn’t see any big changes in this industry till Elon Musk decided to enter this market with his unique idea TESLA, and now Tesla has become world’s most valuable carmaker in the world. So you should find your differentiator point and let people know about it to motivate them to choose your product or service over others.
Branding and building a great story
In competitive markets, branding and telling your story becomes more important because there are many options and stories, and if you don’t get people’s attention within the first impression, you’ll lose your client. For example, when Airbnb decided to enter their market, they differentiated themselves mostly with their beautiful branding and targeted their clients perfectly. telling your brand story is an important skill to convince others and to build a perfect story what you need is:
to know your audience, have a clear vision, be authentic, and finally to keep it simple.
You will never be able to solve everyone’s problems so don’t make this your goal. Instead, identify what you are best at and focus on making it world-class.
By niching down, you make it easier for your business to success especially if it’s new business because finding your niche will help you to focus on being the best in just one thing instead of competing with everyone, secondly, by niching down you are building a loyal customer base and this will help you to strengthen your own offering by gathering feedback from this base
Standing out is all about adding new things so don’t be afraid of being different, on the contrary, you should be afraid if you are just like others, thus build your idea, find a great story, don’t copy others, and narrow down your target clients. Therefore, by following these points you will have a higher chance to stand out in the markets. Keep in mind that always there’s room for everyone to win.
The art of knowing is knowing what to ignore
“Nothing is particularly hard if you divide it into small jobs.”
— Henry Ford
Asem enables the team of business and strategists who work alongside Jazri designers and brand experts to bring bold ideas to fulfill the market’s needs.
He has enabled several brands to transfer their ideas into marketable solutions in a variety of industry, strategy, and marketing roles.
We share and create a set of fruitful insights in different forms which will help in making an educated decision along the way!