Before you bring your invention to a licensing company, or attempt to secure retail distribution, you should make sure the product is actually ready for public consumption.
Finding buyers, retailers, and licensing companies for our products is of course your chief objective, but it’s simply not possible without the necessary preparation. At Lightning Launch, we believe a product cannot be truly successful without a significant amount of attention being paid to branding and messaging. Before a product can be successfully pitched to licensing companies and retailers, and generate real sales, the audience must be both targeted and appropriately educated. Too many great ideas fail to reach their peak sales potential simply because they aren’t presented clearly, or completely. Here are a few things to keep in mind when deciding whether your product is ready for launch.
Social Media Presence
Although it might sound surprising, many inventors neglect solid social media. Having a cool, unique product is great, but without a solid Facebook page and website, they will fail to communicate the benefits of that product to their consumer base. Beyond simply “having” a website, inventors should focus on clearly communicating what the product does, what problem it solves, why that problem actually needs solving, and why it’s different than anything else on the market. With regard to social media, inventors should update their product pages frequently, with fresh content, and do their best to engage page visitors. Regularly posting pictures, videos, and promotions is a great way to spread the word about your brand, and generate more followers. Sales should be made as easy as possible for customers, posted directly on your product’s website for ultimate convenience. Purchasing should be quick, simple, and convenient. That’s why Lightning Launch dedicates a significant amount of time to providing useful website advice, and taking an active role in social media management.
Don’t limit your online strategy to social media, either. Blogs are a great way to educate potential buyers about a product’s story, give them a heap of useful information, and as well as open a dialogue with consumers. Post regular blog entries on your website, or reach out to established retail bloggers who might feature your product. At Lightning Launch, blogging is a key tenet of our brand building program. Our in-house bloggers generate fresh content for clients, to ensure their product is getting as much attention as possible.
None of the above methods really matter if you don’t present your product effectively. This means having an attractive logo and packaging, and — if you’re planning to pitch to licensees — a thorough presentation. It’s important to remember that retail and licensing success doesn’t result simply from a good idea, but from hours of preparation and brand building. To truly pique the interest of consumers or a licensing company, people need to truly understand your product, connect with it, and have the means to interact with it online.
For advice on how to get your product ready to pitch to licensing company, or to launch into the retail space, contact Lightning Launch. We also offer free idea evaluations, which are invaluable in determining if your product is worth pursuing.