How to Market for Inventions

A presentation is crucial to invention marketing.

For inventors, marketing is a necessary part of spreading the word about their ideas. Because most inventors do not have the resources to handle manufacturing on their own, marketing is crucial in selling the invention to a company who will see it through to production. With an efficient, effective marketing strategy, you can turn your invention from a single prototype into a profitable business venture. As you develop a strategy, use your expertise and enthusiasm to come up with a compelling marketing plan.

Instructions

1. Make a working prototype of your invention. Use the same materials that would be used in the final product, or as close as you can get to them. Work out as many of the kinks or malfunctions as possible so that your prototype will run smoothly. Test it as many times as you can with different users so that you can identify and fix any problems.

2. Research the market. Get an idea of similar products that are out there and find the products that businesses are currently using to do the task your invention handles. Look at competitor's marketing strategies and the level to which they are controlling the market. Gather information about prices, availability, shipping, delivery and customization options.

3. Determine your product's unique selling point. Potential buyers will ask you how your invention is different and better than the other similar products on the market; be prepared by writing a compelling, concise answer. Develop one or two sentences to answer the question so that it states your product's main benefits. Use specific numbers or percentages to strengthen the message.

4. Design a professional presentation. Create a slide show or a video that will serve as your main marketing tool. Brevity is important, so it should run no longer than five to 10 minutes. A video is more effective if you are sending it to companies that are far away; for in-person presentations, use a slide show that you can give with a talk. Include the most convincing information you have found about the market and the way your invention will benefit the company's bottom line.

5. Target companies that have the necessary resources and equipment to manufacture and sell your invention. Consider companies that make similar products or who serve the people who would be interested in your invention. Set up meetings with the person in charge of new business at each company to market your invention, and give your professional pitch.

References

• Entrepreneur: Researching the Inventions Market
• Yahoo Small Business: Should You License or Manufacture Your Invention?