There is no such thing as market saturation, just first-base thinking. First-base thinking is when we do the bare minimum that’s required to exist in an industry or category.
For example, imagine two competing bakeries that are adjacent to each other and they both do the same thing and offer a similar service. This is when price becomes the differentiator. When price becomes the differentiator, that market has no real value.
This is first-base thinking – where there is nothing that distinguishes two companies. Now, take the two competing bakeries and stretch them across a city, a province and a country.
Some brands or businesses exist just to meet the bare minimum required to be in that industry.
Elevate beyond the expected
How many soccer players are there? When we are talking soccer or football, a handful of players come to mind – some have pure talent, but most combine talent with hard work; elevating the value they bring to the field of play.
To be sought after, not just to stand out, not just to be different for the sake of being different, but to be seen or perceived as the only option with no other alternative, requires you and your brand to elevate beyond the expected.
Monique Claassen, director of media and digital insights at Millward Brown and Jane Ostler, global head of media, presenting at Kantar’s Cape Town ‘Roadmap to Media Effectiveness’ event.
If you are a brand that exists in a “saturated” market, please note that the market is not saturated, the market is filled with the same or similar thinking.
Change how you do things. Do things that create novelty for your brand. Do things that make the experience of your brand more memorable. Do things that mean something to your customers. Do things that add value and equity to your brand.
Do things beyond what is expected.
Be the anomaly, dissolve the market
Your brand’s biggest battle is not with other players, it is your customers’ minds. Be the anomaly to be the monopoly.
In a saturated world, where there’s a million options of everything, it is back to brand-building basics. Win the heart and mind and you will dominate.
Source: BizCommunity> https://www.bizcommunity.com/Article/196/33/193750.html