I wrote an article for Post Status about a month ago, it was just published to their blog.
In it, I discuss how the WordPress product market is a lot different than it used to be.
People started making real money building for the platform around 2008, when there was high growth and low competition. Companies like iThemes, Gravity Forms, and StudioPress got in early and have become some of the most profitable since then.
Today, in 2017, we see competition in almost every product category. There is less room for new entrants, and it’s harder to carve out a piece of the pie.
Here are a few points I highlight in the article:
- Both the theme and plugin markets are now saturated.
- Your product is a commodity, or will be soon. What are you going to do about it?
- Bringing a product to market now requires more time, effort, and risk than ever before.
All this really means is that WordPress used to be an easier space to make profitable products, but it’s not anymore.
Now it’s the same as many other markets. It’s going to take more than coding skills to build a real brand that stands out from the competition, good luck out there.