I’ve been helping a client launch new offers for the weight loss market over the past few months.
That’s one of the most competitive markets in existence!
How many books, blogs, Youtube channels, courses, and coaches are there in that market?
I don’t know, but it’s massive.
Some people are searching for a market where there isn’t any competition.
Good luck with that! The majority of those markets disappeared a decade or more ago.
I get worried when I see a market that doesn’t have at least a few profitable competitors in it already.
It often means it’s tough to pinpoint a good buying audience.
Perhaps you’ll find that unicorn of a wide-open market someday, but I mostly help clients establish dominance in competitive markets.
We do that by finding our competitive advantages.
There’s always an opening if you’re willing to do the research and the brainstorming.
Here’s a question to start you off…
How can you deliver results quicker, easier, or more effectively for at least one segment of the market?
Can you deliver faster results? Maybe the common approaches take months, but you’ve found a way to deliver visible results in just 7 days.
What about an easier method? Perhaps your method requires less willpower and effort, because you’ve simplified it to just the 20% that delivers 80% of the results.
Maybe your system is more effective? You tested your method and your clients’ success percentage is higher than they’ll find elsewhere.
You don’t need to appeal to everyone in a large competitive market. You only need a small subset of the audience. What if you could appeal to 25% of the audience? Let’s tighten that up. Even attracting 5% of the available buyers in many markets would be massive for small business.
What is your key point of difference?
With my recent weight loss client, we focused primarily on his offer as the ‘easier’ solution. It’s a great fit for a specific segment of the market who have failed at other methods (I’m not revealing his exact solution here so others don’t try to copy it).
Here’s another way to look at this…
What is your product’s reason for existence?
With all the products and services already in the marketplace, why did you feel another solution was needed?
Sometimes this question leads you back to your own story.
You personally tried the other solutions available. Here’s what was missing for you.
Your story can become a point of difference when you use it correctly.
Or perhaps you added something specific to the solution to produce quicker, easier, or more effective results for your audience.
My Internet Lifestyle System reveals dozens of ways to come up with bestselling ideas for information products quickly.
It also gives you several proven hooks to stand out even in the most competitive markets.