Browse Category: Licensing

Marketing your product

When it comes to bringing a new product to market it’s your responsibility to get your product out there and seen.
You have a great invention that solves a huge problem for people but no one will buy it if they do not know it exists! Marketing is key in product success it can make or break you!

When marketing your product it’s important that your product is seen by your target demographic. Knowing how to reach them and what content potential customers are looking to is imperative! Building a community of potential customers that are engaging and resharing your content is key!

Create value for your followers, a user is likely to unfollow a page that does not push out different content and only is pushing ads for sales! If you have a fitness product keep potential customers engaged by continuously posting fitness related content, recipes of nutritional value, quick workouts, and other fitness products that interest you. Sharing the content of other pages and businesses also helps your reach by tapping into a network of potential customers that you may not have been able to reach otherwise!


At Source Direct we can schedule posts for you across multiple social media platforms, edit and bulk upload your images when you use our services. We target your preferred demographic when posting ads. We want to show how great your product is to people who may be looking for a product just like yours! Using state of the art technology and our expert designers, you will receive the highest quietly representation of your product. We make it affordable and convenient for us to manage your social accounts. get in touch with us today for more information!

 

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Protect your invention idea!

The lightbulb above your head is illuminating so bright that it’s threatening to blind everyone around you. But what should you do with your great invention ideas? Before you start blabbing about your invention to the wrong person or run to the first company that offers to buy it, you need to do one thing: Protect it!

•Step 1: Document It. Simply having an “idea” is worthless, you need to have proof of when you came up with your invention ideas.

When you come up with an innovative idea, create a record of Invention before going any further. Write down everything concerning your idea. Keep an “Inventor’s Notebook” or journal that records the conception and development of your idea. Use bound notebooks, make frequent entries and date each one. This log may help you in litigation if your invention’s origins ever come into question. Don’t talk with any company or agency about your invention unless they sign a confidentiality agreement. (NDA)

  • Step 2: Research It. You will need to research your idea from a legal and business standpoint.

This may be obvious to many people, however, you would be surprised at how many inventors get excited about an amazing idea and assume that because they thought of it, the idea does not exist anywhere else. Many times a simple Google search or a trip to your local Wal-mart may prove otherwise. Don’t be discouraged if you do find your idea already on the market, you may have a modification or an approach that is not covered by patents held by the manufacturer. If your search does reveal that the invention is out there, at least you did not lose any money on the idea. Also remember if you had one great idea that is in stores, you might have another tomorrow!

  • Step 3: Make a Prototype. 

It’s imperative to work with experienced illustrators for patent drawings, the United States Patent Office (USPTO) requirements are very specific. At Source Direct – Inventing Experts our experienced patent team can create professional patent illustrations of your invention, increasing the chances of your patent application being approved. When it comes to developing a prototype, you may be able to do it yourself if it’s something basic. But if you need help with the execution, you have options. We offer all your needs for creating a prototype.

 

  • Step 4: File a Patent.

Invention experts agree: don’t file your own patent! To properly secure a patent claim, the wording needs to be precise and accurate. It needs to use the nomenclature of a patent authority. Should you attempt to file your own patent, do not expect it to be as specific and powerful as one that is prepared by an experienced patent agent or attorney. Without expert guidance, you may not be granted a patent.

  • Step 5: Market Your Invention.

When it comes to bringing a new product to market it’s your responsibility to get your product out there and seen. You have a great invention that solves a huge problem for people but no one will buy it if they do not know it exists! Marketing is key in product success it can make or break you! When marketing your product it’s important that your product is seen by your target demographic. Knowing how to reach them and what content potential customers are looking to is imperative.

 

So, you want to license your product, eh?

We get phone calls from inventors every day – and about 60% of them say “well, I just want to license my idea. Will you buy it from me?” A majority of the time, we say no. There are a few reasons:

  1. Selling an idea isn’t as easy as it seems. Potential buyers aren’t interested in purchasing thoughts. They could hire teams of people to do that.
  2. Investors will not purchase something with no chance of return. Of course, as the inventor, you’ll have the thought process of “my product is the best”, but until an investor has seen the sales numbers, they won’t believe you.
  3. It’s difficult to license something without a prototype. Do you have a fully functioning prototype? The likeliness of an inventor selling some notes on a sheet of paper and a drawing to an investor is incredibly low.
  4. Has it been tested? Is there marketability? Will people buy this product? It’s difficult to tell unless your product has been soft-launched!

This short and sweet blog is intended to usher in some realism with new inventors. You probably won’t sell your idea unless it’s been introduced to the marketplace in some way. We suggest that you invest, yourself, into producing a small order of your product and then show investors the potential.

When you watch Shark Tank, you’ll hear the Sharks ask “how many of these have you sold so far?” Even they agree with us – buyers want to see previous milestones met before they license anything. We can help put you in the position to attract potential buyers down the road.

Interested in taking the next step? Email Nathan at Marketing@TheSourceDirect.net today and let him know you found about us on our blog!