This fairly a point of major concern for many of us who are planning on stepping in to an overly saturated niche, however, the question is not whether you should step in or not, the main concern should be of how to step in and be most effective out there. How to step in this overcrowded nice type but still stand out from all your competitors, how can you make people notice you, talk about you, like you, and most of all become your client.
There are multiple strategies which you can effectively incorporate in your marketing methods that will aid you in becoming a part of the cluster but still stand out in the best possible way.
The answer to whether you should step in to an overcrowded type of niche is yes you should. But the answer does certainly not end here. There are a good many strategies, tips and methods through which you can leave a mark on the market. And an average businessman would definitely look up to all the other business’s and just follow their footsteps and end you nowhere, but a smart business man while stepping into an oversaturated niche will not follow the footprints but rather leave new foot prints behind them. Conquering an oversaturated market is difficult, but not impossible.
Build An Active Influencer Program
Marketing through influencers is just the right way to gain all the recognition, to create the right word of mouth, and market your product through referrals. These influencers have a god many established followers and a huge market which you can easily access as soon as you market through them. This method of marketing is a bit different from all the traditional ways to market your product, but least to say this is highly effective in the modern days. Get the right influencers to not only talk about the attributes of your product, but why should they own it, what is so different about it which makes to the best product to own.
Create A Buzz Of Your Product
The success of multiple businesses have been craved in history who used buzz marketing as an effective technique to step out in overcrowded and a highly saturated market. Through your marketing techniques all you have to do is create a level of excitement amongst the target market, you should try make them curious, you can lead them on by giving them subtle hints or a certain exposure to your product and then further build on to that to leave a mark on the minds of your potential customers. You can always gain recognition through word of mouth, referrals and more techniques in which people talk actively about your product. Once you get them to talk, a whole lot of them will be up for trying it. Even the creation of negative word of mouth to some extent can help you create that mystique and buzzy image of your brand giving you more rebellious customers you can lead the market with.
Locate Less Saturated Niches Within The Saturated Market
This indeed is making the most effective use of all the marketing techniques you have studied so far for the growth of your business. The way you identify your market is by using the process of segmentation, targeting and then positioning your product. Once you have done this process and landed on to an oversaturated niche for your product, you should not stop there. You can effectively use this technique again and divide the saturated niche into smaller segments, which you the target, and potion your product efficiently. This is the smartest way to conquer an oversaturated market: you do not go for the whole market at once; you play on divide and kill, in your case divide and win.
Share A Purpose
This is yet another major technique which if you apply will aid you in capturing the target market effectively. When you step in to an oversaturated market, of course the product you offer will more or less be the same, it may have a different unique selling point (USP) but the main feature will be the same. In such cases you have to eliminate the strategies which aid you to gain the market through differentiation. But right now, if you identify a shared purpose with your customers you play on differentiation. You have something different from all the other brands: which is why the target market is able to resonate with your brand or your product due to the shared purpose. This will lead you to stand out, make your mark and further conquer the niche.
Be Bold And Rebellious
Being bold and rebellious has helped so many brands and businesses to leave a huge mark on the society. When you imply the buzz marketing strategy it can hit you negatively too, but what you can do is use the negativity to become rebellious, something that people like to talk about, something they would want to own. You effectively need to build a resonation of your target market not only with the product but with the brand itself. Having a brand persona or an effective brand image can lead you to have a high share from an oversaturated market.
Build Your Brand Personality
Building your own brand personality works exactly the same way as t does for us humans, if you have a bold catchy personality you tend to stand out from the whole crowd not how big the crowd is, you defiantly get noticed, people are willing to talk to you, the like looking at you, they would like to be seen with you. Similarly when we talk about brands; if one invests on building the brand’s personality, one is doing the right thing. This will lead your brand to have its own identity, its own purpose and personality, the business will be known by itself. You can easily capture a fair share of the saturated market through this technique.
Add More Value To Your Services
Indeed making a mark on an overly saturated market is not easy. It requires a lot of strategic and effective planning. One way you can try claim your share in an overcrowded market is by becoming familiar with the customers, offer them more, more than just the product. This prompts them to buy your brand more, offering discounts, sales, and many other techniques can aid you in creating a bond with your likely-customers. When you offer them more than the product for the same amount of money you can definitely leave an imprint on their minds. You in a way provoke them enough to become your customers; once you are successful in this you can further use various retention strategies to focus on how to retain the market share.
Build Your Own Story
This is another thing you can effectively compete on, in an oversaturated market. You can claim our own brand story, this will not only help you gain recognition but in a way you will be able to stand out from the competition. You will be directing all the attention towards sales, this way you will not only be able to create an impact in the market; you will also gain a fair share of customers. This will further lead you to build on that share and easily claim your brand.
Use The Ocean Strategy
If you know marketing well enough you will definitely know on how to play in a red ocean well. A red ocean strategy talks about how you can claim your mark in over saturated market. The red ocean strategy involves competing effectively in a saturated market, it talks about how you can effectively beat the existing competition for your brand, effectively implying this strategy will further lead you to capture a huge chunk of the market and your brand will be high in demand.
Build An Effective Tradeoff
Another way one can leave a mark on the saturated market is by building a value and cost tradeoff. This simply means you can offer your customers higher product value for a higher price, if not this lower product value for a considerable lower price. While playing on such grounds effective use of human psychology tells us that many people go for products which are more expensive considering the fact that they will get more value, good quality and an overall better product for a higher price. On the other hand we may have people who tend to sacrifice the tradeoff in ways that they would rather go for a low price and get lower quality product: which is rarely the case. If not on the basis of product and market differentiation you can play fair on pricing.
Conclusively, we are of the opinion that it is definitely not easy to conquer an overly saturated market but it is not impossible. If you have a product, a brand, or even determination to make something out of your business you can for sure step in to an oversaturated market and leave a mark.