6 Ways an E-commerce Site Can Stand Out & Sell in a Saturated Market

Every business stems from an idea and being an entrepreneur is about having that breakthrough idea. However, not many ideas end up being very different or growing into a business. One of the main reasons being, in an already saturated market, aspiring entrepreneurs fear to compete with bigger and prominent names who already dominate the online market.

But are saturated markets indeed as terrifying as they appear to be? To an adamant entrepreneur, a saturated market screams out huge opportunities! A saturated market is an active market that forces growth – it means that it is a tried and tested market that works and is scalable, and something that people need and want. By merely tweaking your business approach, you can make your product or service stand out.

    1. Focus on a niche market or submarket

Thoroughly research the market you would like to start a business and try to find a niche by uncovering unfulfilled needs in the already existing industry. You can do this by identifying the problems that you face in the market. Have a conversation with people on relevant online forums and discussion boards about the problem. Conduct online surveys to evaluate whether there is an audience, large enough with the similar unfulfilled requirement. You can also use the Google keyword tool to see if there are any online searches for this niche market.

    1. Tweak your product to cater to a different audience

Sometimes making small changes to your existing product to target another audience segment, opens doors for more business. For instance, an entrepreneur created GPS tracking wristbands with an emergency SOS button for kids and adults who have Alzheimer and Dementia. She conducted an online survey and realized that a lot of pet owners were looking for a similar device to track their pet’s activity. So, she tweaked the product and made it easy to be clipped on to the pet’s collar and was able to target a new set of audience.

    1. Stay ahead of trends

Many industries are subject to rapidly evolving trends. By checking Google trends, Twitter trends, Yahoo trends, Top selling products on Amazon and eBay, Google news, etc. you need to identify latest trends and act on it immediately. E.g., the grooming industry recently saw a spike in interest in beard grooming products. A smart business move would be updating your inventory instantly, to meet this new demand.

    1. Offer better value, not price

Even after selecting your business niche, you will find that other e-commerce competitors are offering the same promotions and targeting a similar audience. You maybe tempted to drop your margins. However, you won’t stay profitable for long doing this. Instead, you can offer customers a worthwhile experience by making products or delivering services that are distinctly different or better than competitors, like surprise bonuses, reward points, free delivery, etc.

    1. Experiment with alternative marketing strategies

It’s a good idea to test out new and untapped markets. The more people you can reach, the better your chances of converting leads and raising brand awareness. It’s not enough to set up an e-commerce store and advertise on Google. You need to focus all your efforts on social media and explore various marketing opportunities like content marketing, affiliate marketing, using PR to boost your business.

    1. Build an influential panel of experts

The panel of experts should preferably consist of individuals who are related to your industry, who believe in your business and will vouch for your brand. The individual must be a trusted source and preferably have a huge network of followers on social media. The reason being, people do not always believe advertisements, they trust people – especially people they admire. By using their influence, your influencers can drive your brand to be a forefront of your industry.

By Simon Saber Creative Director
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