A close friend of mine keeps getting wrapped up in what I would deem pyramid schemes. First it was a mobile service provider that paid you each time you got someone to sign-up, and even more if that person got someone else to sign-up etc. etc. This time it’s the latest, greatest energy drink and wait for it, wait for it…this one is very safe and entirely natural. Just good wholehearted energy to keep you going.
I’m not going to get into the whole pyramid scheme thing, but I would like to ask the question I have. Do we need another energy drink? Do we need another mobile service provider? At what point in the product development process do you stop and tell yourself that the market is completely saturated? What about as a potential sales opportunity to earn yourself a paycheck? Does it enter your mind that the market is capped and there is a major uphill battle in front of you to get attention for longer than your free samples will last?
This doesn’t make sense to me. Instead of another energy drink or mobile service provider, why not spend the time to think a of another way to solve the problem? If you want an energy drink, chances are you already found one that fits your needs and if you don’t like energy drinks, chances are a new one is not going to sway you. Energy bars are done, energy gum is done. If your passion is to help people have more energy, what can you provide that is not already being done to death?
Stop focusing on how to enter a saturated market with yet another product and focus on delivering a solution to a problem in a new way. Your intent to add a new product insinuates that you think there is a gap so solve it. But adding yet another can to a full shelf is not going to let anyone know that your product is different.
If they are already skipping that aisle, you have done nothing new to persuade them not to.
Christina: I have just launched a new business (media consulting) which many experts have told me is a unique offering in the field (not another energy drink!). But I’ve tapped dozens of potential clients/connections with limited success. Do you have any thoughts on how to get people to notice this “new product” on the shelf?
@wgmccoll First question I ask is why are you unique? What can you say that nobody else can say? That new energy drink may have a chance if it does something or offers something different than all the other previous offerings. If it is simply another drink, that’s it – it’s up to consumers to grab what they like. Now you could be so unique that people dont really get what you offer or dont fully understand why they need you – maybe that’s the case? If I offered an energy drink that was healthier but consumers didnt understand why they should drink mine over the others, the it doesnt mean as much.
First step is to find the differentiation. What can you say that nobody else can say?
Then, ask what is your platform? How do people know you offer this? Where can they find you?
Do you have content? It goes without saying that everyone and everything needs content to support it.
Question for you: you mentioned you have done some outreach but with limited success. How are you ‘tapping’ people?