When you’re in the field of sales, you’ll hear the term “market saturation.” This means that everyone has already heard about your product, and you’re just making the same pitch to the same people over and over again. Yes, repeat sales are nice, but you not only want repeat sales, you want new customers and their repeat sales. That’s how you grow a business.
How can we overcome saturation?
1. Move your marketing scope to a new area. Whether that means going door-to-door in a new neighborhood or advertising in a different local newspaper, shake things up so you’re hitting a new physical location with your marketing.
2. Try hitting different non-physical locations. Advertise on different websites, for instance.
3. Come out with a new product and market it to your existing customers. Sometimes it’s not the market that’s saturated, but the product. If everyone in your area has already bought your amazing mop, go back and sell them your amazing broom.
4. Get in the business of selling something that’s consumable. If you sell a car, it’s a long time before you’ll get a repeat customer—we only need so many cars. But if you’re selling something that needs to be renewed, like food or clothing or shoes, you’ll see the same customers over and over again.
One final point: people talk about market saturation like it’s the kiss of death, and it’s true that after you’ve advertised in one particular way for a while, you will start to see those immediate sales decline. But keep in mind that people move in and out. They have guests come to their home. As people migrate from one place to another, they will be exposed to new marketing campaigns, and you will always reach new people, even if you don’t change your tactics. But if you can increase the number of new people you reach, well, that’s even better.
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The Good Old Days: When Home Products Were Made to Last
The Arts of Pursuit and Persuasion in Your Home Business