Steps to bring a product to market
Don't know where to begin? We provide you a clear instruction.
1
Have the idea
Conception is the beginning of a potential product.
2
Research
You must now see if you are the first to conceive it. Start with an internet search and if nothing is found next move to a patent search (make sure your product is not infringing on someone else's patented idea).
3
Protect it
Now that you know that your idea is unique, you should now file a patent on the idea to prove you are the first to have it or at least first to file before you start sharing the idea with others.
4
Engineering
Now it is time to get the engineering done on the product to make sure it is feasible and to start getting manufacturing estimates.
Manufacturing
Once you have the engineering drawings done, you can now start to get estimates for manufacturing and privately branding your products in order to have produced.
You will need to get the cost per unit, the MOQ (minimum order quantity) to start. You will also need to gather cost for packaging, shipping, tariffs (if made overseas). You need to gather all of these costs and boil it all down to a single number per product. This will help you understand what your selling cost will need to be in order to make a profit.
- Trademark and BarcodesNow that you know that you are moving forward with production you should have a logo and trademark developed and filed to be printed on every package to give your brand a unique and protected design. You will also need to provide the manufacturer a registered UPC code acquired through GS1 to print on each package.
- SampleOnce you have the cost to produce an initial run of products, you will want to have the manufacturer provide you a sample of the product prior to authorizing mass production. Once you have received the sample and are happy with the product you can now send the deposit (most cases 30%) to begin production.
- Finished GoodsWhen the production is complete you will be required to pay the remaining balance before the goods are shipped. If done overseas you will want to have a forwarding agent involved to pick up the goods and have the shipped via air or sea depending on the size.
The forwarding agent will also handle getting the goods through customs, picked up at the port, and delivered to your address of choice.
Product Launch
Now that you have your finished goods in hand you need to determine your sales platform. You should start by having your own website up and running to promote your product. You can choose to sell your products directly from your own website or Shopify store or you can start with a popular site like Amazon.
I recommend doing all of the above to gain traction. Amazon is one of the largest storefronts in the world and is a great place to launch a product.
I recommend doing all of the above to gain traction. Amazon is one of the largest storefronts in the world and is a great place to launch a product.
Listing Creation
If you are selling on your own site or on Amazon, your product listing is critical to achieving sales. Your listing is you billboard promoting your product and cannot be taken lightly. You need to have professional images done of your product. You need to have images of the product against a white background (Amazon Rules for Main Image), and you need to have images done that tell a story and appeal to the consumer.
You also need to make sure you do keyword research on the term you feel consumers will type in to find a product such as yours and make sure you are including these keywords in your title and listing itself to generate organic rankings for you listing. Your goal is to get onto page one as quickly as possible on Amazon and in Google. Keyword analysis will help you get there.
You also need to make sure you do keyword research on the term you feel consumers will type in to find a product such as yours and make sure you are including these keywords in your title and listing itself to generate organic rankings for you listing. Your goal is to get onto page one as quickly as possible on Amazon and in Google. Keyword analysis will help you get there.
Product Promotion
Now that you have a shiny new great looking webpage or Amazon listing, you need to let people know that it exists. Amazon and Google both use algorithms that rank your listing or webpage for keyword relevance, but you also need to have sales and reviews to up your ranking.
You should reach out to as many friends and family that you can to purchase (at full price, no coupon codes), and review your product as quickly as possible to help your product gain traction. You should also launch ad campaigns on social media sites such as Facebook, Pinterest, Instagram, and YouTube. You may also want to consider Google PPC (Pay Per Click) when you initially launch.
You should reach out to as many friends and family that you can to purchase (at full price, no coupon codes), and review your product as quickly as possible to help your product gain traction. You should also launch ad campaigns on social media sites such as Facebook, Pinterest, Instagram, and YouTube. You may also want to consider Google PPC (Pay Per Click) when you initially launch.
Finally
Once your sales start coming in you should have automatic email services send automated emails to your buyers thanking them for their purchase, making sure everything arrived in one piece and they are happy with the product. If you have related products this is where you can double down and offer the consumer a discount code for an additional purchase and hopefully gain a repeat consumer and possibly some referrals.
If you would like to know your options and best way to proceed with your invention, we would love to answer any questions you may have from legalities to manufacturing options with a free consultation.
