Episode 68: When the Market Is Oversaturated

Welcome to the Create youe Laptop Life podcast, where entrepreneurs all around the world come to learn how to market and grow their online business right from their laptops, wherever they are. We don't have traditional nine to five jobs, and we don't want them because financial and lifestyle security and freedom is too important to us. We know the world is changing for the better and that the freelance and entrepreneur economy is the cleaner, greener, smarter way to work for both families and businesses. My name is Julie, and this podcast will teach you everything you need to know about creating and growing your laptop life. Hey, everyone, this is Julie. Hope you're doing amazing. I want to talk to you today about a question that I see come up all the time, which is, how do you know if your market is over saturated with offers? I see this a lot because people don't want to put themselves out there and feel like, well, the competition is too strong and I'm gonna do all this work and spend all this money and then it's not gonna go anywhere. So I understand that feeling, and so this is some of my advice that I would love to dole out unsolicited here. Number one, everything is saturated. So I don't know if you ever watched Shark Tank, but I did, and it was so funny because every time somebody would come into the tank, the first comment from the Sharks is like, oh, this is a really competitive market. It was like, oh, you're selling lipstick. Oh, that's really competitive. Oh, you're selling juice. Oh, that's really competitive. Oh, you're selling jeans. Oh, those are really. It's just like. It was like. That was just like a default thing. So everything's competitive. So I would not make that your sort of baseline of, oh, I should only get into markets that are not competitive. Non competitive markets usually mean that nobody has figured out how to monetize it. It doesn't mean that there's like this wide open blue ocean for you to just come step and play and dance in. You know what I'm saying? So the key, the question you need to ask is, how do I stand out in the competition? Because that is a question you have to think about. And any market you go into, I recommend be competitive, you know, and so people, I think people think there's a difference between competitive and oversaturated. And, you know, I'm not exactly sure where that line is. But if we take, I don't know, let's say we take makeup, for example, that's incredibly competitive, right? You go to cvs down the street and you've got Maybelline, Maybelline and Cover up or covergirl. I don't wear makeup. Can you tell Revlon and Estee Lauder? I can't think of anymore. Right. And so if another makeup company comes on the scene, it's gonna fight for shelf space. Correct? Of course. However, if a new makeup company comes on the scene and let's say it's vegan friendly and hypoallergenic, and gives 50% of its proceeds to, I don't know, women in poorer countries who are oftentimes victims of traffic or trafficking or something like that, right now, all of a sudden, it's got a reason to stand out because it's going to target a market that wouldn't buy other makeup products. Right. People who are environmentally conscious and that kind of thing, or people with super sensitive skin. I mean, when I remember when Burt's Bees came out, I felt like it was like this big thing. Even though there was a million other types of chapsticks like on the market, Burt's Bees came out and really had this sort of feel good organic angle. Before organic was cool. So there are times when I look at a market and I say, gosh, that's really crowded. Right. Even before we launched Offer Cure, I had my own set of imposter syndrome. I thought, this is a really crowded market. Lots of people teach on offer, and yet there are thousands now of students who are like, thank you so much for creating the Offer Cure. That was amazing. And it wasn't like I came up with some new magic bullet, but I came up with a new way to teach it that created almost virality where people started sharing and talking about the program and told other people about it and all that kind of stuff. And that was me entering a really competitive market. So when you are building an offer, so if you're building an offer in a health market, in a wealth market, in a relationship market, don't worry if it's saturated. Ask yourself, stand at the point where you say, what can I create that once created? The students will say to me, or customers or whatever, I am so glad you created that product. I don't know where I would be without that product. Ask yourself that question, what kind of product can I create that once created? When it has customers and students and things like that, they will say, I'm so thankful you created that product. They that will immediately help you dial in what it is about the product. That has to be different, that has to be unique, that has to be Creative, that has to be simple, that has to be a shortcut, whatever it is that will make people so grateful. I mean, even the funnel gorgeous brand templates have been around forever. The clickfunnels, marketplace and creative Market. But it was the blend of Kathy's really, really good design with my really, really good conversion marketing brain to create almost Internet marketing designer level products. Because there were lots of people who, you know, were selling templates who were Internet marketers, who weren't really designers. And so the designs looked okay, but they were really more like marketers. And then you have designers who are selling on, you know, creative market types of sites that are super, super beautiful but don't have a lot of real world application. And Kathy and I entered into that little space and now we have lots of customers who say, I'm so thankful that you did this for us. You created this for us. So that's the question you want to ask yourself. Not, is it crowded, is it competitive? You want to enter competitive markets. You just want to carve out your spot. And, and for people who are like in the health space, I hear this all the time. Well, there's only so many ways to teach someone how to lose weight, right? And that's true, you know, you're not going to come up with some medical breakthrough in your product or your coaching that hasn't already been discovered, right? And so you might be thinking this and go, well, what can I actually offer that's even new to them? And I would say you don't have to worry about creating something new or medically significant or some breakthrough. What you're really asking is, how do I deliver it? What container, what methodology do I use to deliver that information so that it gets results, right? Because I could simply hand you a science journal on weight loss and you could read it and learn and implement. But that would be a very, very difficult way for you because number one, you probably don't understand a lot of the terminology. You'd have to draw down your own conclusions. You'd have to figure out your own application. You'd have to then go out and do it. You'd have to execute on it. You'd have to execute on it in a world that's not ideal for weight loss. All that kind of stuff, there's like 1700 steps, but that's still the right information, correct? Right. Versus someone who has taken that information and curated it in such a way that it's on an app and, you know, has meal plans and all that kind of stuff. And so you're like, well, a million people have done that, right? So if you imagine that the science journal on one end and the solution on the other, every time the market gets more and more crowded, it's like there are people that are creating the next step closer to like full immersion, right? So you've got people now who have taken the science, deduced it, apt it, meal, planned it, you know, workouts in your pocket. They've like done all that hard work. And so you're like, well, that's it then they've already cornered that market. And that's the point at which you dig deep. Because you're like, okay, they cornered that market, but did they corner that market for everybody or just a certain group of people? Because are there different groups of people that could benefit? Right? So what if you take all of that and you're like, okay, I'm gonna create this program for people who have sedentary jobs, right? People who work in an office, the office job diet, right? And this is like specifically for people who work in a 9 to 5, who have to sit in a cubicle all day, who can't get out except for their lunch break, who, you know, oftentimes have to buy meals, right? And now all of a sudden, now you could create a program that's so specific to that particular environment that it could catch and go viral, right? And so now it's like, oh, okay, I've literally just figured out how to stand out, right? So you can take it from the avatar standpoint, right? To create that sort of unique idea, you could take it from the, you could still serve the same avatar, but you could focus very, very, very specifically on one key thing, like maybe your health and weight loss specifically for plant based people, or your health and wellness for people who want to lose weight and they happen to be pregnant and obese at the same time, right? You know what I mean? And so you can tackle one specific piece of weight loss and bring something new to the table or, or something unique. And sometimes even if you can't figure out a unique angle, that way you can figure out a unique angle in terms of if you can deliver the result faster, better, easier than somebody else, you will stand out. And so that's really kind of what offer cure did our course. Because it wasn't like we were trying to do offers for a specific niche or we weren't trying to just pick one little piece of the offer. We really went out into the big waters. But what we said is we're going to make you get a result fast. And we actually had to deliver on that. And so that's, you know, that's where the issue is. You have to be able to deliver on exactly what you're promising. And once you do, boom, it stands for itself. And now we have all kinds of authority in the offer space because of that program. Okay. So I hope that helps for those of you guys are saying, well, how do I know if my market is too saturated? The answer to the question is, everything is too saturated. That shouldn't be the judge of what you decide to do. And the hard work is in figuring out how you can stand out in the midst of it. Talk soon. If you're ready to create, grow, scale your online business, you can go to createyourlaptoplife.com podcast and get a free plan on how you can get started today. SA.