Last Updated on 3 October 2019 by Gertrude
There are a lot of business ideas in Kenya that remains untapped but most beginner business owners love to start from oversaturated markets.
What is a market oversaturation and does this stop a business owner from getting a slice of the pie profits?.
An oversaturated business means every step you take, similar businesses line storefronts.
What are the oversaturated businesses in Kenya?
The most oversaturated businesses in Kenya include
- Real Estate
- Tours and Travel
- Cleaning/Laundry business
- Retail Shop business
How to Tap into an Over-saturated Niche as a Kenyan entrepreneur.
To tap into an oversaturated market as a Kenyan business owner you need to realise, first of all, there’s no oversaturation.
For example in all these niches, like sewing, the field of haute couture is still underexplored or niche sewing stores like sewing for kids, pillows, bow ties, hair bow ties, sewing of tutus and baby boy suits.
- You need to choose a niche
When you are aware of what your niche is looking for, you know how to create marketing messages to them.
Are you still struggling with picking a niche market for your business? What haven’t you grabbed the niche marketing guide yet?
Email me on Gertrude.akinyi at gmail.com to get it for only five hundred shillings and you can pay via M-Pesa till number.
2. Fill a Need
What’s the market looking for?. Are you able to meet the market’s demands for the products/services?.
What’s the need and what are customers doing to fulfil the need right now?
If it’s a need for working online as Kenyans, for example, where are they finding the guidelines and how can you hook them to your services?
When you fill a market need, oversaturation disappears.
3. Answer Questions
What are the questions your customers are asking?
How do you find what questions your customers are asking?
Are you providing customers with the answers they seek?
Can they access these answers in materials like ebooks, e-courses or PDF guidelines/masterclasses?
Do they know how to reach these materials or is it a complicated lengthy process to find the educational materials for their answers.
When you effectively answer your customer’s questions, you remove the guesswork risk helping reduce oversaturation.
Answering questions helps identify you as an expert and the go-to-person helping deal with oversaturation.
Gear to provide your customers with answers all the time and form a network for yourself.
What the things your customers are looking for but don’t have access to?.
It’s time for you to carry the invention process together.
For example, when working from home getting things delivered to your doorstep is a dream come true.
The reason why groceries are getting delivered at people’s doorstep, not because of laziness but being busy and allowing other people to do things for us.
When you invent, people get attached to you and you get respected as the originator of the idea.
For example, we say in Kenya we have monopoly when it comes to the telecommunications company, Safaricom rules the game.
They invented mobile money, Mpesa, which became a game-changer on how we do businesses, offline and online.
Other mobile monies have come into the game in vain.
An inventor stays above the ledge, he’s seen as the ”god” of the creation. Helping to reduce oversaturation.
5. Spread Craze for Your Products with Passion
Though you’re not going to eat passion, you can spread your love for a product through passion.
What do you love so much and how can you bring these love of products/services to your customers?.
I started my YouTube channel to help document my sewing journey and while at it kept getting asked how to get started working online.
I started spreading my passion for work online by creating YouTube content. And the passion is getting bigger like bushfire.
A passion project is addictive, it means, loving the process so much and doing uniquely you in the business.
A passion also means no one else can do it like you. You put your voice out there and stand to get corrected.
There’s no one else who does it like you helping reduce oversaturation.
Steve Jobs started apple by reinventing.
He never started the smartphones business but others believe he did.
When you see something, a product or service you love, what can you add to it to improve either its performance or design?
Sum up these ideas into a new product and start a marketing campaign to let others aware of the products/service you have improved.
7. Keep up with Trends
What are the current trends in your industry?
Are you staying on top of the trends?
What are they and how can you introduce these trends to the market.
Will you need to teach the current trends to the market and how much money will it take to impart the knowledge.
How will the money incur get reversed back to the business?
Researching the current market to keep up with the trends helps deals with oversaturation because you are aware of customer’s needs.
You know what they are willing to buy and where helping to reduce the over-flooding in the market with the same kind of products.
8. Add Value to Existing Products
What are the existing products you have in the market?
And how can you add value to these products in order to deal with over-saturation?
For example, if you are in the tours and travel industry, that is highly over-saturated, what travel packages are you going to add to your travel plans.
How are these travel packages going to differ from the existing travel packages?
What’s your uniqueness when introducing these travel packages. What makes you stand out.
When you stand out, you help to beat the competition.
It’s a hard thing to stand out if you don’t know what your market is looking for.
The more reason why I encourage the knowledge on niche marketing.
9. To escape an oversaturated market gear for Competitive Advantage.
This means to have an edge above what others have.
For example, to run a successful phone accessories shop, have a stand-by repair service.
Keep proper records and advise customers on what phone cases go well with their phones.
Also, introduce other accessories like car-owner accessories so that car owners don’t get over-looked.
When you recommend products your customers love, they must bring other customers your way.
If it’s a retail shop, don’t start a retail shop selling an assortment of all goods, sell candies only, for example.
Also, show your customers how the products in your shop work.
The more they know how to put items in your shop to use, the more your customers rev about your service and products.
It’s better to stand out in business, risk doing YOU. Let your personality shine.
Have the best customer service provision there is.
And customer excellence.
Let your customers leave your premises feeling like the best token there is around them.
Don’t let customers leave your shop feeling uncatered for or loathed because of your poor service.
In conclusion, to operate a business in an oversaturated market, not only takes guts but a clear strategy.
You need to identify the missing link/missing niches in the market.
The Kenyan business scene has a lot of untapped niches which a beginner entrepreneur can flourish in.
For example the real estate business, the luxury industry is not catered for and the single parent families/LGBTQ community.
In the food industry, food deliveries and healthy fast-food restaurants are left untapped.
In the transport industry, there are no luxury matatus plying shorter routes for that clientele that don’t like using their cars due to traffic or other factors.
In schools, there aren’t varying systems of education other than the British system or the American system of learning.
We love to monopolise business models and complain every day that there are no funds to start a business.
If only we paid attention to businesses missing and have an abundant mindset as Kenyan entrepreneurs.
We would be making it big like the Nigerians.
Why do you think test business modules begin in Nigeria and South Africa then they spread to the rest of Africa.
Because Nigerians are open to introducing new models of doing business. There’s no over-saturation in Nigeria.
We have to also learn the market trends if we are to keep over-saturation at bay. What are the current buying trends and how do they affect how business is done. What makes buying different now.
Steve Jobs proved that filling a market needs passion, drive and sleek design.
What are you proving as a Kenyan entrepreneur?
Strive to be unique and do your business, your own way and embracing your style.
Stop copying and aping what other ‘successful’ businesses have done if you are to beat over-saturation.
Take a keen look at your environment, what’s missing. And how can you fill the market gap or requirement? Then go do it.
Giving an excuse as over-saturation, means you haven’t identified a need, don’t know your target market.
What over-saturated business would you love to jump into as a Kenyan entrepreneur. What’s the missing gap in the oversaturated business model.
And if dealing with an oversaturated market, hop onto these untapped business ideas in Kenya.