December 26, 2009
How To Market A Product
I learned how to market a product by trial and error. Mostly error. I don’t feel like I’m bragging too much when I say I have been called a visionary more than once. Many people think of me as an innovative pioneering designer. No one sees me as particularly practical, however, and practicality is a big part of what product marketing is all about. I never really bothered to think about product launches or publicity. My process included sending out some press releases, relying on word of mouth, and sitting back waiting to see if the product sales would take off and fly.
I wear many hats, and being a small business owner is only one of them. I was marketing my own inventions as a comfortable little sideline in the hopes of one day striking it rich. I took flop after flop in stride, figuring that the time just wasn’t right. My new and innovative designs did not make money and were struggling. This would have continued for a very long time if I had not met a marketing expert.
I think she had pity on me when we first met. She was one of the premier regional experts in how to market a product, and didn’t really need to work with me. Nonetheless, we bonded pretty quickly and I think she saw something innovative and promising in some of my design work. She saw something that moved her to do something rare in the industry. She agreed to do all the marketing work on spec for a cut of the profits. She made me her project since she did not really need the money, but wanted something interesting to work on.
It ended up turning out very well for us. She used her product positioning skills to make me a lot of money, and she got a sizable cut of that money. I didn’t exactly get rich, but I certainly came out of it pretty well off, especially considering how I started. If she had never come along with her knowledge of how to market a product and her connections, I never would have gone anywhere. The best benefit was developing a good business relationship with someone I can trust and admire.
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