Invention marketing is one of the most important yet over looked part of the invention process. This is where the rubber meets the road. You must market your invention to make money from your invention. Since making money should be your ultimate goal, lets review what we have done so far.
Marketing is for inventors that have gone through the first two steps of the idea invention process. That means the idea has been fully evaluated with a patent search and a competitive products search. It also means common sense tells you that your idea will sell.
The second step in the process is to fully develop the idea. A prototype has been created so you know that the concept works like you think it will and a patent has either been applied for or you have determined that a patent is not required for your success.
Once these first two steps are complete, and make sure they are complete, you are ready to proceed with invention marketing. Marketing is the M in the EDM idea invention process.
There are two types of invention marketing that you need to be aware of. These include:
If you are planning to license your invention the things you will need in addition to your prototype and pending patent include:
If you know how to create these things yourself and are comfortable presenting your product to interested companies, great you are on your way. But if you don't have solid negotiation skills and the enthusiasm to sell your idea you may need some assistance. See invention submission for help.
The other avenue you can pursue is to start a business and market your product to retail. This is a far more involved process that requires a larger skill set. Some of the areas to consider are:
Everyone of these items is required for marketing a new product to retail. If you have made the decision to take this path you might be wise to look for an invention investor. The ideal invention investor offers both financial assistance and working experience in the areas that you may be lacking. Don't underestimate the value of industry experience when looking for an investor.
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