In a previous YNOT News, I discussed industry saturation and its negative effect on all competitors, in all segments of the online adult market (Click here to read Oz’s last installment on industry saturation).In a previous YNOT News, I discussed industry saturation and its negative effect on all competitors, in all segments of the online adult market (Click here to read Oz’s last installment on industry saturation). This week, I want to touch on some possible ways that we can strive to provide better, more unique products to our customers. Industry saturation is mainly a problem due to similar products; if we all work to raise the bar and continually innovate, our customers will have more choices available to them.
I think a good example of this, as of late, is the content market. Many content providers have realized that the game has become much more intense; they’re upping their ad budgets and improving the quality, depth, and breadth of their content. Where JPG push streams used to be prevalent, we’re now seeing smooth, TV quality feeds for cable and DSL customers, and acceptable video with sound for slower connections.
Still, it’s all about giving customers something they want, and will pay for. Regardless of saturation, if you can get the product out there and convince customers to buy it, you’re on the right track.
By referring to customers, I am talking about them in the generic sense; whether you’re in the business of designing adult websites for hire, operating an affiliate program, or sending traffic to your sponsors, we all offer products to the same similar base of customers. It’s a closed network, in other words.
With that in mind, I’d like to suggest the following checklist to make sure you’re doing everything you can to differentiate yourself and offer the best product. I use a similar ‘checklist’ when I consider new products for new (or existing markets) and find it extremely helpful. Sometimes, we have ideas which sound great but the market simply won’t support. Be critical of yourself and your products, because your customers will be far less considerate!
1. First, research your competitors products and consider their weaknesses. What key skill do you have which you can use to ‘trump’ them? If they’ve already put up a considerable barrier to entry in the market you’re considering, perhaps you should take a second look. For example, if you want to enter the content market, and are offering an old JPG push feed for as much or more than the competiton’s broad-band beauty — why do you think customers will consider your product? You’ve got to either make it a bargain basement offering, or improve the quality. Until you research your competitors, you won’t know.
2. It’s easier to keep 10 satisfied customers with you than to get one new one. What services do you offer that keep your customers coming back for more? Make sure your products offer multiple ways to get your customers involved. For example, if you’re building a free site, make sure to offer the free upsell video packages that are around nowadays. Offer message boards, forums, singles chat, the works. Continually cater new stuff to the same surfer. Most importantly, over time, update your site with new features.
3. What market can you enter where there’s not already 50 competitors vying for the same customers? Consider products which create new markets. Specifically, if you see a niche which isn’t filled … fill it! It’s much easier to get momentum to start a lead on your competitors, rather than try to catch up.
4. Try this one on for size. Have ever considered sending business to your potential competitors? You focus on one market, they’ll focus on another. There’s less competition and there’s also more sales leads — everyone wins. This type of mutual cooperation will someday be representative of the mainstream Internet as well, in my opinion — they’re still too stuck on ‘competing’ for now that they don’t get it. Imagine if Amazon and B&N ‘sold’ their exit traffic to each other. It’d be a win-win for all involved.
5. Provide a consolidated suite of products or services which you can re-market to your existing customers. Make sure that your product offerings are dissimilar, but at the same time, have a common thread which would appeal to the same customer.
Hope these tips help.
