Standing Out In An Oversaturated Market

Recently I was asked “how do I stand out in an oversaturated market?” So before I dig into this question, I want to first make something clear. Just because a market is oversaturated doesn’t mean that there isn’t a place for you. You shouldn’t be discouraged if there are many people in your market who are solving a similar problem. I’ve heard a lot of entrepreneurs use this example when expanding on this point. 

Say you’re in the grocery store and you’re walking through the bread aisle. There’s a lot of bread right? Different types of bread and different brands of bread all with varying flavors, textures and price points. Just because there’s a lot of different breads, doesn’t mean that someone shouldn’t consider entering the bread market with their own special type of bread, because let’s be honest, there’s always room for more bread 😉. There’s plenty of room for everyone in this market as well, so don’t let the saturation levels of a market discourage you!

Alright, so let’s dig into this question. If there are many players within one market solving a similar problem to you, then you need to be really clear with your messaging. For example, let’s look at Peloton. Peloton was not the first stationary bike company by a long shot. There were plenty of stationary bike companies out there, but Peloton came on the scene and grew quickly for a variety of different reasons. One of the things that set them apart from their peers in the market was their messaging and now, I don’t know the name of another stationary bike company except for Peloton. That is the power of clear messaging. 

I’ve been reading a book called Building a StoryBrand: Clarify Your Message So Customers Will Listen by Donald Miller that, if you’re interested, is a really great look into messaging and marketing your business. Miller analyzes the concept of the literary or cinematic ‘Hero’s Journey’ as it appears in marketing for business. Now if you think of a hero’s journey in a Marvel movie for example, you’ve got your classic storyline. An underdog character struggles, goes through a transformation and evolves into a superhero ready to save humanity and work for the greater good. 

Miller shares that this is a great way to frame your marketing, but notes that companies often get the application of this wrong. More often than not, the company or business owner centers themselves as the hero, when in reality, they should be centering their client as the hero in the marketing narrative. 

It takes a deep understanding of your client and the conflict they’re experiencing (that you know your services can assist with) to be able to create a narrative that centers them authentically which is why it is so important that you are clear on your target client and their pain points. 

I think this is a super interesting and great way to think about messaging, and in the book Miller also breaks the concept down even more by sharing the three motivations that should be in your messaging. Those three messaging motivations are external, internal, and philosophical.

Miller argues that most companies only focus on the external motivations but names that for successful marketing you should focus and incorporate all three in your messaging. 

Let me give you a quick example using Apple. Let’s say that Apple’s external motivation is providing sleek technology to the everyday user. We can then say that Apple’s internal motivation is making the everyday technology user feel comfortable, confident and competent when using this sleek technology. 

Note that this internal motivation centers the client in the narrative. It’s all about making the client feel good about themselves and their capabilities in a world where technology evolves constantly. They are flipping the client’s perception of themselves and making them the hero that can overcome any obstacle.  

Lastly, we’ll say that Apple’s philosophical motivation is that everyone deserves access to sleek technology regardless of income and education. 

Miller argues that your brand messaging should have all three of those motivations woven in, and when it comes to standing out in an oversaturated market, analyzing those three motivations and determining how to incorporate them in your messaging clearly and intentionally is vital. 

I’ll give you a quick example using my own coaching business as well. My coaching business is focused on coaching and developing school leaders. 

External Motivation: There are nearly enough quality professional development opportunities for principals. 

Internal Motivation: Every principal wants to do their job well, which requires access to high quality coaching to develop their leadership skills. 

Philosophical Motivation: Everyone deserves access to a coach! From Michael Jordan to LeBron to little Timmy in little League. Why shouldn’t our school principals have a coach? 

So those are the things I want you to keep in mind when you start to think about standing out in an oversaturated market. Remember that no matter where you are or what you’re doing, there is space for you, and craft your messaging intentionally and clearly so that your audience knows exactly what you’re about and how they can become the hero in their own story with your help!

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