-- "Ninety percent of new products fail in the marketplace. Why? Companies focus so much on acquiring new customers that they don't address resolve shortfalls in the product--such as flawed features. Firms also get so enamored with their offering that they drastically underestimate resistance to the behavioral changes the new product requires. For instance, few consumers relish mastering new software to edit digital photos. And managers don't realize that consumers won't buy certain innovations unless others in their business or social circles do. A bank, for instance, won't adopt a faster transaction processing system unless other banks with which it communicates also do. To avoid these mistakes, find out how early customers will use your new offering--then adapt the product and start taking orders. Limit the behavioral changes required by new products. And convince other members of your target customers' network that they'll benefit by adopting your innovation. The payoff? New products that score smashing successes in the marketplace. The three Harvard Business Review articles in this collection: "The Sales Learning Curve" (HBR reprint R0607J) by Mark Leslie and Charles A. Holloway; "Eager Sellers and Stony Buyers: Understanding the Psychology of New-Product Adoption" (HBR reprint R0606F) by John T. Gourville; and "The New Rules for Bringing Innovations to Market" (HBR reprint R0403D) by Bhaskar Chakravorti."-- "The 4 Stages of Marketing Competence" --
-- When you need to know the right things to do for your product idea, you might want to order Coaching.
-- "Building a small business Web site - Tips, Reviews and Advice on All Things Digital - The Kim Komando Radio Show" --
==========================================
-- "Unconditional Client Love Nine Marketing Strategies That Work to Win Over Your Clients and Referrals" --
-- Unconditional (Client) Love: Nine Marketing Strategies That Work to Win Over Your Clients (and Referrals) Again and Again
By Maribeth Kuzmeski
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-- "Market Launchers presents The Online Inventor: 12/15/2011" --
-- "The Inventor's Initial 10-Step Marketing Plan"
By Jeffrey Dobkin
==============================================
-- "Make Noise--Even Shout--To Win Sales- Entrepreneur.com" --
==============================================
-- "Advertising, Copywriting and Marketing Books by Bob Bly" --
==============================================
-- "It’s counter-intuitive, but your price should substantiate your value claims. It not only allows you to get higher prices for your offerings, it enhances your buyers’ experience. So the next time you establish your price, ask yourself this question “Does this price accurately reflect the value I provide?”
-- Dale Furtwengler
==============================================
-- "Passive Income, Part One: Pipe Dream or Sound Business Strategy" -- "Passive income. It's the Holy Grail of lifestyle entrepreneurship. It sounds great; - work four hours a week and make a full-time living; spend your time on the beach, with your family,
or doing whatever else floats your boat."
==========================================
-- -- Market Success -- by Ron Reardon --
The discussion of whether a patent guarantees market success. To accomplish this I compared and contrasted the following types of inventions: (1) Patented, but not Marketable; (2) Marketable, but not Patented; and (3) Patented and Marketable.
1. Patented, but not Marketable:
Since Patent Examiners focus on the patentability of claims and not the
marketability of the claimed invention, my poster child for an invention that is patented but does not have a prayer for even a smidgen of market success is 5,564,221, "Animal Trap Entrance Device",
a.k.a. Mouse Trap. The oft repeated statement "Build a better mousetrap
and the world will beat a path to your door" has never had an iota of
truth, as novice inventors waiting for industry titans to discover their brilliance soon discover. For the sake of argument, most would agree that 5,564,221 is NOT a "better" mousetrap. In fact, it would
take a very intelligent, ambitious and highly skilled mouse to actually gain entrance to the delectable cheese, only to find that it is hopelessly trapped. While the disclosed trap obeys the laws of physics and complied with the requirements of patentability, extensive research revealed no evidence of 5,564,221 ever being commercialized (although it may have possibilities as a gag gift or a video game).
In the second category of "Marketable, but not Patented" are two enduring best sellers, Crayola® Crayons and Silly Putty®. Neither of these products were patented (although there have been subsequent
patents issued to the Crayola® Company in recent years for both the Utility & Design categories). Both of these products continue to enrich our economy, as well as bring joy and spur creativity.
You do need to be careful when your invention falls in this category. Without a patent you won't be able to exclude others, but there may be reasons why pursuing the marketing of your invention in this situation.
For example, if you have already committed the four deadly sins that
disqualify you for getting a patent (over 1 year ago you either sold the claimed invention, tried to sell it, used it in public or disclosed how to make and use it).
3. Patented and Marketable:
In the last category of "Patented and Marketable" is patent number 2,717,437, "Velvet Type Fabric and Method of Producing Same", aka VELCRO®. While this patent expired long ago, its trademark, name recognition and market innovation keeps this juggernaut alive (plus there have been hundreds of follow-on patents issued to the Company). The contributions to our economy and our lifestyle by this product are enormous.
This final category -- patented and marketable -- is the holy-grail for
inventors.
The Common Denominator:
What do the inventions that will make you a successful inventor have in common? Thomas Edison said it best: "Anything that won't sell, I don't want to invent. Its sale is proof of utility, and utility is success."
It is important to be realistic with your marketability assessment. The first question to ask is: "Does it have a "Wow" factor?" If your invention is only 10% better than the current alternative, you should consider inventing something else (this is why the DVD player rocketed to success exponentially faster than the time taken by the VCR). Also consider, is it: unique, mass market, solves a problem, priced right, easily explained, age appropriate, credible?
Success Won't Happen Overnight:
If you think that the time between having the idea and rolling in the dough is instantaneous, it just isn't that simple; if it were, everyone would be a rich inventor. The adage "It takes years to be an overnight success" is the mantra for inventors; the innovation journey is a
marathon, not a sprint. There are numerous resources available at the
USPTO and through the United Inventors Association for new and experienced inventors alike. The more you learn, the better positioned you will be to succeed. Along these lines, I frequently recommend to inventors that they subscribe to Inventors' Digest, read The Independent Inventor's Handbook (by Louis Foreman) and Gadget Nation (by Steve Greenberg). Inventors Digest has great interviews with
successful inventors and timely tips for today's innovators. The Independent Inventor's Handbook provides a step-by-step process to make a go/no-go decision to invest your resources in your invention. Gadget Nation profiles about 100 inventors and their inventions; as an inventor myself with three issued patents, I learn the most from the failures that are chronicled. When you look for the common denominator of which made it and which did not, you will find marketability at the
core.
The Morale of the Story:
Based on the response from the attendees after the event, they got the message that a patent is not magic and does not ensure market success, that market success can exist without a patent, and, finally, that a
highly marketable product with strong patent claims is what you are after.
# # #
Ron Reardon is a patent agent and President of Patents & More, Inc. in Atlanta, Georgia, and is President of the United Inventors Association as well as past-president of the Inventors Club of Georgia. He works with inventors who have products in the following areas: Mechanical, electrical, business methods and software. Contact him at 770-241-4907 or by e-mail at rreardon@patentsandmore.com or visit him online at http://www.patentsandmore.com
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From: Niemann7@aol.com
Subject: 1 MarketLaunchers presents The Online Inventor Dec. 15, 2011
Date: Thursday, December 15, 2011 9:16 PM
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THE ONLINE INVENTOR – December 15, 2011 issue
(c) 2011 Market Launchers, Inc.
-- "www.marketlaunchers.com
Editor: Paul Niemann
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Dear Inventor:
We welcome back Jeff Dobkin for another one of his articles that showcase his decades of marketing expertise.
If you are trying to sell your patented or patent-pending invention, but do not have the time or the motivation to contact companies, then getting it listed on MarketLaunchers.com will bring you additional exposure. While contacting companies will generally bring you better results than just putting it on the web, having it listed on our web site will bring you additional exposure – and increase your chances of getting a licensing deal.
Plus, if you already have your own site, you will get a big discount when you list on MarketLaunchers.com. Call or e-mail me for details and a no-cost consultation. You’ll be glad you did!
Read on, and enjoy this issue.
-- W.O.W. (WORDS OF WISDOM) ...
-- “The end result of kindness is that it draws people to you”
-- Anita Roddick, Founder of The Body Shop
Best Regards,
Paul Niemann
www.MarketLaunchers.com
(636) 447-8000
(800) 337-5758
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-- “The Inventor’s Initial 10-Step Marketing Plan”
By Jeffrey Dobkin --
One of my readers asked, “How do I market a product?”
Yea. It’s just that simple. And here’s your simple answer: "Invest time, money or energy. Or just pick two. Or, maybe it is just that simple."
First, some questions: "Are you marketing a product or a service? Is it local (geographic marketing) or national; industrial, business to business; to a wide or narrow niche, or a retail product?"
Also -- "How much does your product cost? What is the sales buying cycle, and is it need-driven? Impulse? Seasonal? Is price important? Most importantly: What are your sales goals? How much do you want to sell? And what’s in the marketing budget? You do have a budget, don’t you?"
Sigh… Anyhow… All these different possibilities have different marketing campaign strategies -- but they all start here. But here’s how every plan starts.
1. Identify your most likely prospects. The first step in any marketing plan. Go for the ones waving money in their hands and are ready to buy, right now.
2. Create a coherent PR (press release) campaign for newspapers and magazines. This is a series of press releases: a campaign sustained over time that’s well thought out up front. Write each release headline for now. Find magazines in "Bacon’s Magazine directory" or "Oxbridge Communications Periodical Directory" found in major libraries.
3. Create “informational booklets” to give away for free and offer them in your press release. The booklet title is responsible for the quantity and quality of the response, so write a great title using the Jeff Dobkin 100 to 1 rule: Write 100 titles, go back and pick out your best one.
By offering a FREE Booklet you give consumers a non-threatening reason to call and something to ask for in return for showing they’re interested.
4. Keep tight track of the response: "Where did it come from?" Then plan on ads in the most successful PR media placements.
5. Start creating a mailing list of your top 250 prospects. That's right - start digging for names and addresses. Yea, it's hard work. Thankless, too. But your success depends on your mailing list.
6. Track every call, every inquiry. Have a sheet of paper by every phone and ask, “And how did you hear of our company?” Write it down and put that slip of paper in a drawer. At the end of a few months count the slips for each, you'll know exactly what's working.
7. Create quality literature and cover letters. Send cover letters with everything.
8. Mail to your Top 250. Mail to your best prospects frequently, every 4 to 6 weeks if you can. If you can't identify your market tight enough and make this mailing work, you're in trouble.
9. Test and retest small ads in various media. Don't forget to look at low cost unusual advertising opportunities such as association newsletters and so forth.
10. Keep marketing to wherever the best prospects and most sales are coming from. Clone your best customers: Figure out where they came from, what they like, why they purchase -- and look for more of the same.
Hope this is helpful. Don’t forget to buy my book, “Successful Low Cost Direct Marketing Methods.” Best $30 bucks you’ll ever spend on marketing.
# # #
© 2011 Jeff Dobkin
# # #
Jeff Dobkin is fun speaker, all around good guy, and for the past 12 years has been on the board of directors of the American Society of Inventors - a non-profit self-help inventors group in Philadelphia, PA who help inventors free of charge. He has written 4 books on marketing including the Marketer’s Bible: "How To Market A Product for Under $500." If you’re an inventor who’d like to market his inventions -- you’d be crazy not to read this book. Visit him at www.dobkin.com for more of his writing or call 610-642-1000 to speak with him directly or to order his books.
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-- --> What you do AFTER a project is complete is even MORE important than what you did to get your customer in the first place.
-- Why is that?
-- Many people know that a business will do just about anything to get a customer in the first place - they expect it. But the sad fact - a fact you can use to your advantage - is that many companies fall flat on their face with current customer follow-up. Here are a number of things you can do to keep your customers coming back and gain large amounts of referral business.
1. Send a thank you note, a survey, and ask for a referral - all in a single email
2. Create a customer loyalty program that costs nothing to join. Instant enrollment is even better.
3. Exclusive customer club -
only allow in the elite clients and let them know how special they are to be in the club. Scarcity continues to work on every human alive - use it to your advantage.
4. Customer nurture sequence -
automatically keep in touch with clients using email marketing. Be sure to send them information on how they can use what you’ve already done better, as well as letting them know what else is available to them.
In order to make pricing irrelevant, be able to work with only the types of clients you want to work with, and make the competition irrelevant, you need to create a superior customer experience. You do this by continuous communication with your customers at every touch point, wowing them every step of the way. Those touch points are:
• Before they first speak with you
• When they first speak with you
• After they first speak with you
• During the project
• After the project is complete
Be consistent, keep in touch, deliver superior service and a superior experience and you will be successful.
Now go make it happen!
Robert Dempsey is the CEO of Dempsey Marketing, and helps entrepreneurs navigate the business map from being a new business to a controlled business to taking it to the next level. Get more leads and sales from your website using the free guides, case studies and articles at http://DempseyMarketing.com.
-- --> Use Direct Response Social Media To Generate More Leads --
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Thank you for reading the It's Your Biz Small Business Blog.
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-- --> The ABCs of networking
By Harvey Mackay --
-- "If I had to name the single characteristic shared by all the truly successful people I've met over a lifetime, I'd say it is the ability to create and nurture a network of contacts."
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-- "Market Launchers presents THE ONLINE INVENTOR -- Oct. 26, 2011" --
--
"Preparing and Using the Sell-Sheet" --
A private paper exclusively for Inventor-mentor clients
By Jack Lander of www.Inventor-mentor.com
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-- "Market Launchers presents THE ONLINE INVENTOR
-- Nov. 5, 2011" --
-- "Preparing and Using the Sell-Sheet" --
A private paper exclusively for Inventor-mentor clients
By Jack Lander of www.Inventor-mentor.com
(continued from last time)
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-- "Accept Credit Cards with Merchant Warehouse" --
==============================================
-- "AbsolutelyNew: Helping Inventors Succeed" -- "AbsolutelyNew, Inc. is the consumer goods company that partners with inventors to launch innovative products—into stores, catalogs, online retailers, and television shopping channels." ==========================================
-- "Inventor Mentors - Karla and Jack" --
-- Eventually, your sell-sheet is used to convince your potential licensee, or your distributors, retailers, and catalogs that they can profit from selling your product.
What do you mean by success?
Is it working less hours so you can spend time with your family and your interests?
Is it having more energy to tackle your tasks?
Is it growing in confidence so you can communicate your business and product better to others?
Is it increasing your volume of sales?
-- "Next-Step-Up Communications :: Logo | Website | Banner Ads | Custom Graphics" --
==========================================
-- "SmartBiz.com: Small Business Resources - Optimize Email Deliverability with Best Practice Strategies" --
==========================================
-- "Angels Den Blog: Three Minutes Of Fame - Video Pitching With Angels Den" --
==========================================
-- "Creating the Longest Marketing Idea Chain in the World" --
-- Virtual Office Programs create an immediate corporate image with space, products and services on an as-needed basis. The Virtual Office provides a professional presence on your terms with the least financial risk. --
-- "Online Market Research - Directory of Databases Useful for Online Market Research" --
-- "SBTV - Small Business Television Network" --
-- "Program helps small manufacturers make big ideas" --
-- "Originally designed for big businesses, the program, called "Eureka! Winning Ways," has been retooled to help smaller manufacturers develop new ideas."
-- "Tutorials - Eric Von Hippel's Homepage" --
-- You know how you read and read, and pretty soon the words swim in your muddled brain and you don't realize what-the-hell you are reading? - Well, I'm going to wake you up with a 'tested' joke. - Shhh, don't tell anybody. Let it be between you and me.
-- A mother was bathing her 3-1/2 year old son. - Her son was curious about his body and looked down at his testicles and said, "Mommy, are these my brains? - "No, dear," she said, "Not yet."
-- "Did you wake up?" ;-))
