Should we create content in a saturated market?
If you and I look around, we see product or services just like ours everywhere. Instantly we get a feeling of having missed the bus. The market is clearly saturated and there’s little or no point in us having to create more content, or product or services. Or is it?
One of the most surprising—even surreal—experiences is dropping into this seemingly saturated market, and finding out that it’s a big, fat myth. Why is it such a myth? Let’s find out.
Note: This is a transcript version of the audio.
If you've stepped into any market right now, you will get the feeling that it's saturated, but is it saturated?
If you go to the bookstore today or to Amazon, you'll notice that there are new cookbooks, but if you go back in another month, there's another set of cookbooks; in the third month a third set; in the fourth month it's the same phenomenon.
No matter which year or which month you pick in the last 20 years, you will find the books are changing all the time and if you were to extrapolate 20 years into the future, once again, the market will continue to have new cookbooks.
Which makes no sense at all because we know almost any recipe that we want is already online. If you want to make a butter chicken dish, there are probably 5,000 videos on it. If you prefer something vegetarian instead, there are likely to be another 5,000 videos on that vegetarian option.
And next month they will be more videos on the same topic but also more viewers. And in the bookstore there are more books and more buyers. If you're scratching your head at this point is because you know that this scenario is true.
Why then does the market continue to exist?
It does because of a factor of like. People look for people that they like. When I started watching YouTube videos on Indian cooking, I watched a chef called VAR chef. Since then I've moved on to another channel and yet another and then another and several others. My taste keeps changing and over time I find that I like one more than the other, which is why a market never seems to get saturated.
People should stick to one person, but they never do.
No one says you cheated on your favourite channel or your favourite cookbook author. And you know this to be true because if you're into marketing, you have many books, you have authors who you liked, who you currently like, and those you will like in the future. Some will continue to be favourites and some will lose that status of a time.
Nonetheless, the idea that the market is saturated is just a feeling, not a reality.
If you go back in time when your grandma was your age, there were already enough books on cooking, on philosophy, on politics, on every possible topic that you could think of. All of those printing presses should have come to a grinding halt 20 years ago. We already had millions of websites, but here's the good news.
Even in the world of websites, when we have over 1.5 billion websites today, fewer than 200 million are active, and those business owners must have thought, wait a second, there are so many billion websites.
Why should we continue?
The internet is saturated and so everything should stop, right?
The internet or offline products or whatever you look at, there is no saturation point, at least none that we know of and the reason is because our tastes keep changing. Even when you look at the same recipe and it's explained by somebody else, it just feels different and so you like that explanation or that person or that method and therefore that market keeps expanding.
This is also the reason why we at Psychotactics continue to exist and thrive. We are now going down some fancy path. Look at what we sell. We sell an article writing course, we sell a sales page course. We sell a book about conversion called The Brain Audit.
Do these products exist already? Of course they do, and a year or a month from now, another hundred or a thousand more of these products will exist, which is to say that the market isn't saturated at all.
The question you ask needs to be slightly different
Don't ask—Should I give up because the market is saturate? But instead—How do I enter a saturated market? or What I think is a saturated market and having an everyday product how can I still stand out?