Last week I had the opportunity to hear Jason Nast of IPPD (Invention Patent Product and Development), a top infomercial marketing pro speak on the ABC’s of infomercial marketing and inventing. Jason and his team have worked with over 200 clients in the last 7 years to build and bring to market many successful products, including several hits like the famed Push-Up Pro which has reportedly sold over 30,000,000 units.
Yes, 30 million! Can you say “MILLIONAIRE FASTLANE?”
Inventing and infomercial marketing has always intrigued me since the days of Tom Vu and his yacht-adorned bikini babes.
Here are the 13 takeaways I learned from Jason’s two hour presentation.
A) Be Careful Who You Work With
The business is cut throat and some people are in it to take your money … and your idea.
B) Keep an Inventors Log
Log those ideas when you get them. Track your activity and actions.
C) Do Your Own Patent Research
Hit the USPTO.gov or use the Google Patent Search.
D) Build a Model / Prototype First
An absolute must since this will help in determining the viability of your product with potential customers and investors.
E) Evaluate your product OUTSIDE of friends and family
Talk to strangers about it. Hit your demographic. Stand on the street. Hit the crowd. Get the opinions of people who have NO vested interest in you and aren’t concerned about hurting your feelings.
F) Network extensively – but NEVER talk about your idea.
While ideas are plentiful, you never know who is a seasoned executioneer who can take your idea and have it to market in months.
G) Make sure your patent attorney is certified through the USPTO
While any attorney can do a patent, only use one who is certified through the USPTO.
H) Do what you do the best and seek out others who can do the rest.
If sales is your best attribute, sell. If you can’t sell, find someone who can.
I) Don’t fall in love with your product.
Don’t get emotionally attached to your product – the market and your demographic will either like it or it won’t. Emotions will cause you to lose objectivity, and ultimately, money.
J) The best products solve an everyday problem.
Fastlane … The Commandment of Need.
K) The best products should be visually stunning, or exciting.
If you can’t demonstrate it easily, you can’t sell it. The average person must be able to understand it.
L) The best products are in the “save time”, “save/make money” “look better”, “more productive” niches.
Again, your product has to easily convey value to the consumer.
M) Make sure you target your demographic properly.
Products which are incorrectly targeted do not reach their market potential. If you are selling a funny gadget, is your market truly children? Or maybe it’s adults?
N) The demographic LEAST LIKELY to buy products on infomercial are financial and legal professionals.
Ha Ha — perhaps because we are a fickle, analytical type?
Do you have an ABC of inventing to add? Please tell!
~ MJ
And Stop The Prostitution of Monday Through Friday!
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