right path for business in a saturated market
Marketing

What Could Be The Right Path For Business In A Saturated Market?

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A saturated market is hard to do business. Profit margin is too low and you gotta fight god damn hard for this small profit.

(My company is selling WordPress themes which are focused on e-commerce with the support of WooCommerce.)

WordPress theme and plugin market is one like that. Overly saturated. Look at Themeforest and other stuff on Envato. Yesterday I discussed some job-related problems with my fellow and I realized that after all this time, we still haven’t properly figured out a good way to sell our product in such market. 

After some researching and thinking, here are the most possible ways to get out of the jungle:

1 – Create a niche

Yes, it’s a saturated marketing but still, we need to drill down to find a smaller niche and center our product around it. WooCommerce is a good niche. How about going further?  I need deeper research on this. Like, shall we become a WordPress theme provider for super-multipurpose WooCommerce themes only? OR shall we make themes for developers ONLY (Usually buyers are developers anyway)? State that clearly in every of our theme. We don’t need to write “this theme is so easy anyone can use it”. Instead, we’ll tell developers that these themes are for them – good code quality so they can do whatever they want for their client. The WP admin is already easy for normal users anyway and they will only need to use the admin interface.

2 – Be premium on product’s quality AND customer support

If the product itself isn’t something stand out of the crowd or isn’t made with a good point of difference, then all marketing effort will just go wasted. Things will be a lot easier for marketers if they have in their hand a well-made product.

Then, pour all the heart and soul of the brand into an exceptional customer service. Everyone is already selling cheap out there.

If we do well in two things above, then we totally can charge a premium price for our product and customers still crave for it. We need to be SIGNIFICANTLY BETTER than other competitors or don’t expect high-profit margin from a saturated market.

So let’s start with spending more time on a product if necessary. We don’t want to release bugged themes then get turned down. Plus, invest in a good support team with a thought-out workflow for this team.

3 – Create a product with good user experience. Sell it with good buying experience

We don’t need to invent something new to be different in this market. Just look at #2. After that, invest in how we can help people buy easier, faster and without confusion. Honestly, we might need to remove some triggers here and there if necessary.

4 – Work with partners in the similar (not same) boat

Let’s say, our targeted customers are web developers. Then we can consider working with WordPress plugin providers of plugins used in our theme. Those developers will need to use these plugins, won’t they? We can count on a referral program or just good friend relationship on social media.

Of course, we need to provide attracting incentive to draw partners to our side – like, we have customized themes for their popular plugins (we’re doing this, aren’t we?)

5 – Join forums and help users there

Anticipate in answering questions to help users in our niche or just show up in forum activities to raise brand awareness (I’m talking about Envato forum and Facebook groups).

6 – Write for popular market information resource

In this case, we can contribute posts to Envato and WooThemes (regarding WooCommerce). Articles like research on the market, trend, user statistics, etc. can draw great attention.

7 – Offer loyalty program

Well, this is my last =)) We’re selling on Themeforest but that doesn’t mean we can’t offer something to our fans and loyal customers. Let’s say, if a customer buys more than – 3 WR themes on Themeforest within 6 months, we’ll give him a special-made theme for free. Of course, this free theme is in high quality, not for sale, for loyal fan only and provided with free support. We can redirect our Themeforest traffic to our website’s special page for these kinds of themes.

A page showing Rewarded themes like this can be a motivation for people who want them to go and buy other themes on Themeforest 😀

Ending words: any of the troubleshooting tips above requires a great time to invest in. We can’t be a superstar after just one night. But after many nights.

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A digital marketer, blogger, freelancer, astrology fan, mommy of a lovely elephant and helpless Japan-lover. Or just call me Vivian. Hope you have a good time up above the cloud with me.

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