How can I compete in a well-established market?
Manoj R
22 replies
I am building an agile project management tool. As you all know, project management is a well-established market with giants like Jira and Trello. This is my first product, and I started it to create a comprehensive tool that startups can afford. However, my hope is dwindling day by day. The main thing is, I never want to give up, and I won't give up. I'm seeking your valuable insights.
Replies
Eden@entreeden
How come you're determined to make a project management tool? Of course anything is possible, you see Linear as an example of doing it today
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@entreeden There are dozens of project management tools, but none of them offer a feature for ensuring project quality. That's why I integrated codeless testing, allowing everyone to track project test coverage and ensure quality and making it affordable for small teams.
Have features that your competitors don't.
If you have trust in your product, nothing can stop it from becoming a big success. Rest I would suggest you - build strong branding, establish strategic partnerships, and invest in marketing to increase visibility. That helps!
Identify your competitors' weaknesses and use them to your advantage.
@steward_edison Thank you @steward_edison thank you for your valuable insights. How can I know about their weakness. When I surf on public forums I can get very few pain points of using such tools so that I hesitate to build based on that.
Focus on your niche. Instead of trying to compete with well-established businesses across the entire market, focus on a specific niche. This will allow you to become the go-to expert in your field.
Focus on a small niche first, understand their problems, and make the tool unique for them.
You should also make sure that the niche is a good fit (they should be willing and able to pay money for your product).
Provide excellent customer service. Customer service is more important than ever before. Customers expect to be treated with respect and to have their needs met quickly and efficiently. Go above and beyond to provide your customers with an exceptional experience.
To compete in a well-established market, focus on differentiation, offer unique value, and build strong relationships. Understand your customers' needs, embrace innovation, and provide exceptional customer service. Stay persistent, adapt to changes, and market effectively to stand out. Success often comes from dedication, creativity, and consistently delivering what others can't.
To compete in a well-established market, focus on differentiation. Identify unique selling points, target specific customer niches, and invest in exceptional customer service. Adapt to changing trends and embrace innovation. Collaborate, build a strong brand, and provide consistent value. Patience and persistence are key.
Maybe you might need good market research. Getting a correct customer segment and niche market is the main goal of a startup when entering a well-established market.
@thineshwaran_pandian is there any strategies for doing effective market research?