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Thursday, November 29, 2012

Launching a New Product Online? Would You Like a Buying Frenzy For It?

How Launching A New Product Online Is Not About The Product

Yup, you've read that right. This is not about your product! And yes, you've spent years and years, and a life savings on making the perfect product --- but that's not where your journey ends. How well do these statements resonate with you:

- You know, you just know, you're product is amazing and it should sell like wild fire - You're an expert in your area so people must want to buy your stuff - It's taken you years and a life savings, so your product must be perfect for people - Your product is perfect for everyone - You can't think of a reason someone wouldn't want to buy from you

If you've been saying these things to yourself you've got a problem -- and it's cash flow! Those statements are keeping you broke, and your product unsold. I'm not going to get into the specifics on all those issues here (it would take too long), so the short answer is, all those issues are deal killers. All of them are flawed logic and just plain wrong.

It's not about the product! It's about the prospect! It comes down to market research and problem identification!

So the real question is: how do you launch your new product to make a ton of sales on launch day?

Your Product Sales Are Dependent On This One Thing...

Finding out what people want, and giving it to them! Look, it's not about how many cool things you're product can do for people. It's about how good you can identify with the problems you're prospects have and fill in solutions with your product.

Launching a new product is about having a conversation with people, and showing them you care. Letting them you know you understand their situation, and that you can give them what they want.

The launch process itself is really an education. It's about educating people on their problems, the consequences of their problems, and then getting them excited about being able to solve those problems.

Here's How A Launch Works

The first step is market research where you find out what your prospects want, and where they are hurting. Then you craft the solution around that research.

The next step is to build an email list. Do this via traffic generation or through joint ventures. The key with the list is not size, but quality. It's about relationships here, not spam!

The next step is building up excitement, and you do this by sending out teaser bits of information (to the email list). You do this by addressing problems (from the market research phase), and then giving them mini solutions (maybe a report or a video).

Then people start to pay attention because you're addressing their problems and giving great solutions. Next you start amping it up, where you introduce you're story (how you made the product or how you're just like them with the same problems).

Once people start relating to your story, then you start talking about objections people have. You do this on your blog, and it's very non-discrete. This way you handle objections before they reach the sales page.

Throughout this process you also inject psychological sales tactics like social proof and scarcity. These drive the excitement leading up to launch day, when you finally launch your product and make a ton of sales.

For more information on product launches you can join my mailing list (just follow the link on the left).

How to Create the Perfect Product Launch Campaign

If you are the verge of launching a new product and are a little lost, this article is just for you. In this article we are going to give you tips on how to launch a proper product launch campaign.

- Generate ideas

Have regular brain storming session before you plan for your product launch. Write everything down, and evaluate them later. Use the good ideas in your marketing strategies on the product launch.

- Do your research

Doing research is essential for product launches. Gather as much information as you can about the different factors that affect your business. Incorporate the information in your strategies and plans.

- Position your product appropriately

This is critical because choosing a wrong positioning for your product will decrease the chances of a successful product launch. Your solid research will come in handy here. Most importantly, try to differentiate your product from the competitors' and have your core message repeated over and over again for it to leave a mark on your target market.

- Have a product launch plan

Define your sales objectives clearly and take care of your promotion and advertising activities. Try to think everything through to the end and have backup plans in case anything goes wrong.

- Distribute samples

Samples are a great way to attract attention and generate word of mouth. It acts as an early indicator of the appeal of the product and will help you create almost free publicity.

- Forecast sales

Forecast your sales and build a sales plan that will help you avoid overlooked cash flow problems. This process must be well taken care of because you cannot just bring a product to the market just for the sake of doing it.

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Dragon's Den - How to Be a Success

Dragons' Den is a great way for inventors to make more money from their product ideas. If you're planning to start up a business around your new invention, the cash investments and industry experience these entrepreneurs offer can be invaluable. Pitching is not for the faint-hearted, and the Dragons are hard to impress, but with a well-developed product and a strong presentation you have every chance of securing their support.

Getting onto the Show Every year, thousands of people apply to appear on Dragons' Den. What sets apart those who are featured, from those who are not? According to Sam Lewens, the series producer, "the production team look for specific criteria to demonstrate an entrepreneur has an investable idea."

These criteria include:

• Marketability - who will buy your product? What problem does it solve? Essentially, it needs to be something that will sell!

• Intellectual Property - do you have intellectual property protection in place for your idea? This will ensure that competitors cannot copy it, increasing its value to investors.

You will need to explain how your idea meets these criteria on the initial application form. So, it is important to make sure you can give the right answers!

You need to determine which market your product could fit into. You could also discover how much money that market generates and who its main players are, allowing you to impress the selectors right from the start.

You should also look into your options for intellectual property protection. Different ideas require different forms of protection, so it is important to establish which kind would best fit your needs. Most inventions are best served by a patent. The patent application process can seem daunting, so it s advisable to contact professionals who have extensive expertise in this area and are well placed to help you. It is always recommended to conduct a worldwide patent search, to investigate any relevant patents already filed, and more information on this can be found at Patent My Idea. With this complete, the most effective route through the patent application process for your new product idea should become clear.

Success in the Den Once you're on the show, you will need to have a fully developed product, rather than a basic idea. Regular viewers might remember episode one of series seven, where Deborah Meaden refused to give investment to an inventor named Alan Mandel Butler on the basis that he had a good idea, but no viable business proposition.

So, how can you take your idea to the next level and make it into an attractive business opportunity? You will need to:

• Establish how your product will work and which components it will require - this will reassure the Dragons that your idea is technically feasible and could be manufactured.

• Illustrate how the intended user will interact with your product. This will demonstrate the benefits of owning the product, and hence why it will sell.

• Visualise how the finished product may look, allowing the Dragons to picture it in context or on the shelves.

• Display these images on professional presentation boards. These can form the backbone of your pitch.

Product designers, such as Innovate Product Design, can help with the development of your product to inspire confidence amongst the Dragons, demonstrating that you have a considered, professional and investable product.

Prototypes Many inventors approach the Dragons with a prototype. These can be of great benefit in the Den, as they further demonstrate the investable nature of your product. Proof of principle prototypes can cost-effectively prove that a new concept works. Pre-production prototypes require greater development, but can show both how your product will look and how it will work.

Conclusion Dragons' Den is a fantastic opportunity for inventors to get their products into the public eye and potentially gain investment from business experts. However, getting onto the show is not easy, and expert input will significantly increase your chances of pitching to the Dragons. Working with the right people can help you develop your new idea into an investable product that could well be the next Rapstrap or Reggae Reggae Sauce!

10 Tips From a New Product Inventor - From Idea Conception to Reality

Many people have products that they have thought about and never pursued because of one primary reason -- fright. As product dreamers we are afraid of someone stealing our inventions, not having the funds to pursue the dream or not having the time to move forward. The same people that sit on their ideas look up one day and see the very product that they thought of is currently on the market.

Why is this? The reason this happens is because if you can dream of an easier way to get something done someone else can have that very same idea. What makes you and another person that has the same idea any different? Whomever obtains patent protection first has all the rights to the product idea.

I have 10 preliminary tips for all dreamers that have ideas they would like to pursue...

1. Get moving on your dream today! Do something towards bringing your dream into reality every single day.

2. Write down everything about your product idea. Get a friend or pay someone to draw the product.

3. Save your money and maintain good credit. Most have to put a substantial amount of money towards their dream even if they get bank backing. However, some do get venture capital and angel investors to fund their product inventions. This is a matter of preference. With pursuing the venture capitalist and angel investor avenue get ready to hand over much of your profits.

4. Require any individual that you would like to disclose information about your product sign a non-disclosure agreement. In summary this agreement allows both parties to sign a document stating the product inventor is disclosing pertinent information about their product and the company will not share this information with any third party. This agreement will allow you to talk to very important people that you will need to in order to get moving on your project.

5. Get a Professional to do a Product Search with the United States Patent Office. This can be a Patent agent or an Attorney. You want to be sure that what you are dreaming of is not already out there on the market. Also do your own search in search engines online or within various online stores.

6. File a Provisional Patent. I did my own provisional patent but it does require a lot of time. You must research other patents first on the United States Patent Office site to find another patented product that may be a bit similar to yours and change what is pertinent to your product. You can also hire an attorney to do the provisional patent. The Provisional patent lasts one year. It was ideal for me to do a provisional patent because I gauged the market to determine if it was something I really wanted to pursue before filing the more costly non-provisional patent.

7. Surround yourself with others who have been through the process before or those who are currently pursuing their invention endeavors. I met a SCORE counselor who has a product invention background. He counseled me on pertinent issues and provided great contacts for me so that I would not have to reinvent the wheel. I also joined an inventors organization.

8. Get a prototype. You must have a working prototype that you can show potential buyers to garner interest.

9. Conduct market research on your product. I am not talking about just speaking to family and friends about their opinion of your product. I am talking about paying for a professional focus group to talk about all the pertinent information you need to know from would be consumers about your product. You can also do mall interceptions and surveys online.

10. If you decide after your research you would like to pursue your dream full force, get your full non-provisional patent filed. The non-provisional patent will provide you with protection for over 20 years after the United States Patent Office have accepted it. You want to contact an attorney that someone has referred to you. I negotiated with an attorney that does not work off of an hourly rate. I strongly suggest you getting a fixed rate attorney.

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What Are the Essential Ways to Launch a New Product?

Product launching is of great importance and value to the business owners to have a deep market penetration. A truly amazing launch of any kinds of product will envisage a better sales promotion. Product creation is an essential step in a business and marketing it to become a saleable consumer good is what very important. It is important to have the best of quality of products to make a greater selling and the initial launching plays a crucial role in this. Here are some of the effective ways on how to launch a product:

- Do not be conservative when it comes to advertising the product. An aggressive marketing would be a better product launch strategy to yield better results. This will show your strength in publicizing the product and its features. If it can reach the prospective clients, they will have the confidence to try your products and services.

- It is recommended to have a product pre launch to determine the pulse of the market and the consumers. Getting prior information will give you some ideas on how receptive the product could be. This kind of product market research will help in getting modified ideas according to the existing market conditions.

- Awe inspiring advertisement will really set the platform for the launch of the products. Make sure to explain all the benefits and features of your products and this forms one of the most impressive product launch ideas.

- Studying about the market competition plays a vital role in understanding the tactics used by the competitor. This will enable you to have better product launch ideas that will have a better reach. This will help you to put yourself in a perspective client's shoes and understand their needs.

- Targeting the ideal customers is another important mile stone in order to have a successful new product introduction in the market. Try to have additional features so that the consumers will give preference to your products to have a better value for their money spent.

- Create distinct value for your products and services as a part of the launch strategy which will force the consumer base to try out your products.

- Do not launch your product prior to the testing works. Devise a better marketing strategy and message that will reach out to the common people. This explains the importance of having a good public relation to yield better results. Public participation will motivate you to offer better features and services.

How to launch a product is undoubtedly a million dollar question. Not everyone can find a convincing answer for this. However, the above steps are some of the basic thumb rules which will enable you to have a better success rate when it comes to product launch ideas and marketing. Identifying the ideal customer base is followed after this stage and also be sure of the product life cycle. The product launch strategy is the one which will decide about the future course and the existence of your product and services in the market.

Jones Act Lawyer - Your Protection

I spend almost two hours dumping myself in bed but I could not manage to sleep, I am closing my eyes and wishing to fall asleep and just dream, but nothing happened. I got up and with in 5 minutes I was sitting on my computer table and open my computer and began searching what ever came in my mind. After a couple of minutes I got an article about an accident offshore, I read the entire article and was found myself still for a moment. I just though: "What will happen to those victims? To the workers, after those tragedy could they live normally like ant other individual does? How about their families for those who died or those that cannot work because of the said accident?'. It was very heart breaking, a sad reality and it was not a dream nor am I just dreaming.

The next moment I was eager to find answers to my thoughts, I searched and came up to Merchant Marine Act of 1920 or commonly known as the Jones Act. It was passed by Senator Wesley Jones in the year 1920, in response to the concerns about the health of the workers and to protect them from negligence and to give proper attention when they suffer injury or accident while rendering their service in a certain maritime industry company.

I came into a conclusion that the said law was the answer but it was not enough just to know about the said law and to understand it, in this situation there came lawyer, they were focused and specialized on the cases which was connected to the Merchant Marine Act and the claims of the worker in the case of an unexpected event.

In connection with this and if you came to be a victim of an accident or injury offshore, you must seek for a Jones Act Lawyer whom you can trust your case and could defend you. You should be wise enough to select the best one, yes there lawyers that promise you to handle your case very well and would assess you until you have finally won your case and have yourself and your family been protected, but sometimes it will end up your case being referred to another lawyer and this became the reason of slow response to your case. Certainly you do not want to end up helpless in the midst of the situation and would turn out into nothing.

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