Imagine two large tables piled high with money. Around the first table are many people, crowding each other and grabbing as much of the money as they can. But there is nobody at the second table. All that money is just sitting there, waiting for you to come along and scoop it up!
This is how it is in the world of marketing. There are the large markets that get all the attention. But, there are many smaller, under served markets with money to spend, which are largely ignored.
Which One Should You Choose?
Someone once said that if you want to make alot of money, you should find a market that isn’t being served and give them what they want. Someone else said that if you want to make alot of money, you should create a market for what you have to sell.
While it is possible to do the latter, it’s easier to do the former. In other words, the first guy was right. It’s much easier to create something for a market that is already hungry than it is to convince a market they are hungry for something already created.
There was a time in America when having coffee meant going to a restaurant or bakery for a cup of brew, which usually came in a can, envelope or jar. If you wanted coffee at home, you bought Folger’s at your local grocery store. There was a HUGE market for coffee, and this was what was available. Nobody knew any different, and nobody thought about anything different. That was just the way it was.
Then, one day someone came along and decided to give coffee loving Americans something new to enjoy – the latte. It was a hit, and a new market of coffee lovers was born. That market grew and spun off in many different directions. Today there are little coffee shops all over America serving up personalized coffee drinks to your individual taste.
Why Smaller Is Better
You might think the example above is one in which someone created a product (the latte) and then tried to convince a market they were hungry for it. But, actually, the opposite is true. They gave the coffee lovers something they didn’t have before – a real choice. And they improved upon a product that had remained unchanged for centuries, by making it personal. The market was already there, and hungry. They loved coffee, and now they had more choices.
You may be faced with a market that is already being served by books or magazines or online information. But, what are they getting? Are they only getting one flavor and no choices? Or is there variety? Does the information serve only one particular niche of the market, such as an exclusive age group, leaving the rest of the market untouched and untapped?
Or, perhaps you’ve found a market that isn’t being served at all. They have needs and money to spend, but everyone is focused on the larger market. The problem is, in the larger market you’ve got more competitors. In the smaller market, there is far less competition.
You can actually do much better and make more money by serving the under served, smaller market because there are fewer competitors vying for that market’s dollars. In other words, you can have a tiny piece of a big pie, or a very large piece of a smaller pie. Which would you rather have?
Look for the smaller and under served markets. These have riches that are practically untouched by your competitors!
To your riches!
PS: Before you can tap into the riches from those under served markets, you need something to offer them. Click here!
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