LEARN To Invent Products for TV and earn $330,000.
(3% average royalty x $11 wholesale = $330,000 inventor earnings for every million units sold.)
Remember, As Seen On TV products rely on a "First To Market" strategy where patents are not as important because the product life cycle is fast and short. If you do have a patent, it provides extra protection and value for you and the licensing company, but is not required. Read more about trust and the licensing relationship and the direct response television (DRTV) business model, then make a quick "Inventor Prototype" out of everyday materials, make a short home made video and submit your concept. We review every month through 2013 and will give you feedback on your ideas so you can improve.
What's most important to get your inventions into AS SEEN ON TV is:
1. Unique Selling Advantage. How Strong is your unique Selling Advantage? Does your product do something different than anything else out in the marketplace? Will a consumer look at it and have a"wow" ; or "ah ha" moment? Be sure to research it by descriptive and functional key words on Google and Google Patents to see what's already out there.
2. Problem/Solution/Benefit Orientation. How well does your product solve a problem and provide a solution/benefit? DRTV buyers are impulse purchasers: If your product can solve an immediate problem, or improve a lifestyle, then they are more apt to buy. The bigger or more common the problem solved, the better!
3. Mass Appeal. Rate your product's Mass Appeal. TV has the power to reach the masses. 'This is the strength of TV. However, with the proliferation of cable networks, certain niche categories have the potential to work. (eg. Golf Channel). The highest selling categories are Pets, Health & Beauty, Kitchen, Storage, Weight Loss, Bath, Tools, and Exercise.
4. Product Pricing. How attractive is your product's price? Typically products under $100 are considered good short-form DRTV items. Products that sell for $29.95, are more accessible to the masses. Lower priced products are more of an impulse item. Well priced products leave the consumer feeling they just got a great deal.
5. Demonstrable. How demonstrable is your product? This is my favorite word from Billy Mays in the Pitchman show. Billy loved to use this word because it is so important for a DRTV item. The better the visual demonstration of the product the greater the chance for success. Remember, the product is the star of the commercial and has to shine bright.
6. Believability. What is the believability of your product/solution? The consumer must see the product as credible. If people don't believe it will work as advertised then they will not buy.
7. Easily Explained. Is your product easily explained? A consumer must be able to understand what the product does in a relatively short amount of time. A consumers ability to see your product demonstrated and quickly "get it", will typically translate in to more sales. The old saying, "A picture is worth a thousand words", is why DRTV can be so successful in selling your product.