While developing the product is an obvious crucial aspect to a successful invention, many inventors fail to develop any sort of marketing strategy for their product. Marketing is extremely important to the invention process. Many great inventions have failed due to an inventor’s poor marketing strategy. Make sure that you perform market research and ask yourself questions. Is there a market for my product? Should you license your idea to someone else or have it manufactured yourself? While this may seem uncomfortable to you, licensing the product to a reputable company can add significant credibility to your product, as well as ensure that there will be a professional marketing campaign put in place. Here are a few times to follow when marketing your invention:
Licensing Or Selling Your Invention To A Company
When developing a marketing strategy, you may consider licensing or selling your product to a company that can manufacture and distribute it. If you decide to go this route, a company will pay you for the rights of the product, and then proceed to develop manufacturing, marketing, and distributing strategies.
For a small fee, the United States Patent and Trademark Office (USPTO) can publish your idea in their official gazette in order to attract potential buyers. There are also small businesses that specialize in these types of services as well.
The DIY Method
On the contrary, there have been many inventors who have successfully manufactured and advertised their product by themselves. If you believe that your product is truly revolutionary and unique, you may be able to start your own website and sell your own invention without the help of anybody else. This is definitely a much harder and potentially risky route to take, so make sure you have the know-how and time and money to follow this route.
Join An Inventor’s Club
There are also many inventor clubs and organizations around the country. By joining one of these groups, you can meet and speak with fellow inventors and find out what they did in order to get their product’s business up and running. As a fellow inventor, they will be more than happy to help you out in some capacity.
Test The Waters And See What Works For You
Creating a solid marketing campaign is not everyone’s strong suit. While inventions deal with the creative side of the brain, developing a marketing plan requires the analytics side of the brain, and using both effectively can prove to be quite difficult. It’s best to advertise your product to be licensed. Consider working with a patent services company to market your invention.