another thread on saturation...
My eyes bugged-out when I saw the craziness in the saturation
myth thread. I think it's an interesting topic and worth talking
about but that thread got too crazy, even though valuable in
it's own right for people who like to make a study of the senior
inmates. :p
My thoughts on saturation:
There is great opportunity in many, many markets. But you also
have to look at the sophistication of your competition when
choosing a niche market.
There are plenty of buyers out there but if your marketing and
message is weak in comparison to more seasoned competition
you may struggle to make sales.
The most competitive niches are often profitable if you can
market competently in them. If you cannot understand what
the competition is doing because they are way more advanced
than you, pick a different niche.
IF on the other hand you are a little smart you can de-construct
what the better competitors in most niches are doing and
capture a portion of the market.
***
So saturation is not, IMO, a problem if you can create marketing
with an adult voice... a level of savvy appropriate for the niche
you are getting into.
Scarcity is another issue. I used to fall for it before I immersed
myself in reading about marketing. I used to buy crap off TV
from time to time.... and part of me believed the "act now"
nonsense. Ok. So it pretty much works unless you've been
trained to recognize it. It seems like B.S. to many of us because
we are rolling our eyes as we watch the launch du jour - but
for people who haven't become aware that "scarcity" is not
always real it still works well as a selling tactic.
Sometimes scarcity is real. Your time, if you coach people
one-on-one, or work under deadlines, is scarce. If you are
selling your personal time then when you use scarcity - ie.
"I'm only going to coach 10 people on this because I'll be
working with you one-on-one and I have other things that
interest me," - then it's real.
myth thread. I think it's an interesting topic and worth talking
about but that thread got too crazy, even though valuable in
it's own right for people who like to make a study of the senior
inmates. :p
My thoughts on saturation:
There is great opportunity in many, many markets. But you also
have to look at the sophistication of your competition when
choosing a niche market.
There are plenty of buyers out there but if your marketing and
message is weak in comparison to more seasoned competition
you may struggle to make sales.
The most competitive niches are often profitable if you can
market competently in them. If you cannot understand what
the competition is doing because they are way more advanced
than you, pick a different niche.
IF on the other hand you are a little smart you can de-construct
what the better competitors in most niches are doing and
capture a portion of the market.
***
So saturation is not, IMO, a problem if you can create marketing
with an adult voice... a level of savvy appropriate for the niche
you are getting into.
Scarcity is another issue. I used to fall for it before I immersed
myself in reading about marketing. I used to buy crap off TV
from time to time.... and part of me believed the "act now"
nonsense. Ok. So it pretty much works unless you've been
trained to recognize it. It seems like B.S. to many of us because
we are rolling our eyes as we watch the launch du jour - but
for people who haven't become aware that "scarcity" is not
always real it still works well as a selling tactic.
Sometimes scarcity is real. Your time, if you coach people
one-on-one, or work under deadlines, is scarce. If you are
selling your personal time then when you use scarcity - ie.
"I'm only going to coach 10 people on this because I'll be
working with you one-on-one and I have other things that
interest me," - then it's real.