Why do lines form outside Apple stores with every new iPhone release? How are certain restaurants booked months in advance? Why do some businesses turn customers away, while others spend all their time chasing their next client?
I love reading early in the morning, curled up on the couch with a steaming cup of tea. Some of my favorites are books on business strategy and marketing, and the past few weeks found me gobbling up Oversubscribed: How to Get People Lining Up to Do Business With You by Daniel Priestley.
In his powerhouse of a book, Priestley teaches businesses how to stop competing for attention and create their own high-value market.
Sound too good to be true? Not if you’re willing to approach your business with a new mindset..
So what does it mean to be “oversubscribed?” An oversubscribed business means more people want to buy from you than you have the capacity to serve. When there are more buyers than sellers for your specific market, this drives up the value of your product or service.
“But doesn’t that mean my company will be insanely busy trying to keep up with demand?” you ask.
Only if you want to continue living the rat race.
If you can get comfortable turning down business, being oversubscribed gives you the freedom to choose your ideal customers, set advantageous terms, and stay in demand.
Priestley uses Ferrari as an example:
“Lots of people want a Ferrari - but the people at Ferrari aren’t losing sleep over it. They know that the fact that some people have to miss out is what makes their automobile so coveted. Every product that is oversubscribed has people who didn’t get it, even though they were willing to buy.”
Rather than competing for clients in a general market, an oversubscribed business creates its own market. You identify the precise benefits you bring to your customers, and target the people who both value what you offer and are able to pay for it.
Priestley walks readers through a campaign-driven system for building demand and releasing your product or offering. He offers specific guidance on the market cues and percentages you’ll need to follow in order to run successful campaigns.
Are you ready to consider new systems that help you quit chasing customers and get them to chase you instead? Then I highly recommend this book!
Many small businesses and entrepreneurs, though, will need to start simple and work your way up from there.
The good news: getting crystal clear on the answers to some foundational questions is the first step to becoming a highly-valued, successful, oversubscribed business!
Can you answer these critical questions about your company?
*What are the core benefits of our product or service, and how are they different from other businesses in the industry?
*Do we need to upskill or add products/services that would increase our value and position in the market?
*Who are our ideal clients, and what makes our company the best choice for those particular people?
*How do we communicate this value in a way that makes people excited to buy from us?
*What channels and methods are best for building attention and demand in our specific industry?
Defining exactly who you are as a company, who you serve, and how to connect with them helps you grow from a strong foundation and stay strong in a rapidly changing marketplace. Who knows, you might never chase another client again!
If you need help nailing down the answers to these questions or taking the next step in connecting with your ideal audience, I can help. Get in touch here: https://www.abigailmariecopywriting.com/contact and let’s start working towards some exciting results!
Wondering what my work looks like? Check out my portfolio of past projects at https://www.abigailmariecopywriting.com/portfolio.
Sources:
Priestley, D. (2015). Oversubscribed: How to Get People Lining Up to Do Business With You. Capstone.
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