The chance of huge sales figures on HSN may be alluring, but getting there takes effort.
There are lots of entrepreneurs, companies and inventors which have made huge sums of money selling their products on direct response TV–from QVC to HSN.
Obviously, just a few products are viable for TV sales, but many eligible candidates get rejected for wholly avoidable reasons. In this hyper-competitive environment where many folks are chasing few opportunities, there are particular actions you can take to greatly improve your probability of getting picked to market your product on TV.
THINK ABOUT YOUR Product First, does your product match the main element criteria that the buyers search for in a fresh product submission? Could it be easily demonstrated on camera? Does it solve a problem? Could it be unique enough rather than in the mass market yet? Will there be perceived value? How many other products managed to get on the DRTV medium of your decision, and why?
Doing all your homework is an enormous part of your success down the road. Remember, luck happens when preparation meets opportunity. Study the programs you are looking to pitch your product to–what do they provide, what forms of products do they feature, what exactly are their benefits, pay attention to their testimonials.
THINK ABOUT YOUR Presentation Once you determine which of your product offerings is right for TV you should put together the proper package. The presentation is really important. Sometimes buyers is only going to give you just a few minutes to convince them that your product will probably be worth looking into more. One method to move buyers is to prove your product comes with an audience built-in already, before it continues on air. Has it sold successfully in other markets like Fortune 500 companies, the promotional products industry or others?
Also using testimonials in your presentation–to show how your product has solved problems and provided value–always helps.
Lastly, if your product was already featured in other media it’s wise to add that in your presentation. I struggled through 2 yrs of rejection before getting my product on QVC. Among the demonstrates helped get my product featured was when the hit HGTV show I’D LIKE That finally featured among my products. The clip from that show was then used within my QVC presentation.
THINK ABOUT YOUR Supply Chain and QC Standards Close the sale by burning your pitch with action and continue. Buyers have to know you can deliver on everything you promised. Late shipments will set you back thousands and buyers have to know your manufacturer (and for that reason product) is reliable.
Passing the product quality assurance tests and having a manufacturing partner with a positive background is critical.
I JUST interviewed AJ Khubani, who founded TeleBrands Corporation in 1983 on a "shoestring" along with his life-savings of $20,000. Today, TeleBrands is a thriving hundred million dollar marketing giant popular for such hit products as the Jupiter Jack PediPaws and Windshield Wonder.
Here are a few key strategies AJ Khubani recommends to bear in mind while preparing your product and sales page:
- Do the study. Individuals who approach us must give us their research on how big is the market. Fundamentally they need to do their homework, think of a good product and make certain no one else includes a similar product out there.
- Understand the DRTV customer. EASILY want my product to market in Walmart I must understand how it will help Walmart. I must understand Walmart’s business philosophy and its own customer.
I can’t tell you just how many people walk in here that have no idea anything about my company, have no idea what we’re looking for. They produce niche items which retail for a huge selection of dollars. That isn’t who we are. We sell $10 and $20 products.
- Salesmanship is crucial. We’re available of sales, that’s what we do. The individual that will come in to pitch us must think about their own sales skills. I take a seat on the panel with my partner and another judge and we look at products and we get convinced. Therefore the skill of the salesperson, that is clearly a big part of it.
- You ‘must’ have a passion for what you’re selling. Enthusiasm is a big part of a convincing presentation. Enthusiasm is contagious. If folks are not thinking about their own product, who else will be enthusiastic about it? It offers to rub off. I simply had a national sales meeting and one comment I acquired back from my people is; "You’re so enthusiastic, how does one keep that up for a two hour meeting?" I gave a little thought and realized I don’t anticipate being enthusiastic, it’s that I’m so worked up about my business therefore worked up about my products. You need to be worked up about your own business; if you are not then you must not be for the reason that business.
- There has to be a problem that your product solves. Telebrands searches for products which have a demonstrable solution to a clear problem and also have good prospect of sale in shops.
You might have heard the word, "Failing isn’t falling so long as you don’t fail to reunite up…" Well, I added this ".with an increase of intelligent action". It requires research, patience and perseverance to get found by a TV buyer. Sometimes you will have to make adjustments to the merchandise offering, the presentation or our supplier chain. The question you must ask yourself is; could it be worth it?