Ideas for Marketing an Invention

When you look at ways to market your invention, you need to check out your competition to show how your invention is better. You'll also need to make sure you're targeting the right customer, and develop a strategy that includes such diverse elements as social networks and trade shows. A combination of such elements can be used to generate a marketing campaign.

Competition

Before you attempt to market your invention, examine the competition. Look at companies selling similar items, and compare those products with your invention. If your invention is significantly different from the competition, you can emphasize those differences when you advertise your invention. If there isn't anything comparable on the market, you will have a distinct advantage.

Targeting

Marketing an invention means you'll need to find the right target audience. It is sometimes a mistake to come up with demographics, such as a high-income purchaser with a family. While those characteristics are important, they are not nearly as important as targeting the people who are most likely to buy your product. Don't market to who you want to attract. Instead, market to people who might actually use your product. For example, if your target customer is someone who probably likes video games, arrange with local video game stores to set up a promotional table highlighting your product and offering a discount to customers who come into the store.

Strategy

Before marketing your invention, you should have a strategy in place. Think about your target customer and think about where you might meet him. For example, if your invention is a new kind of fishing reel, you might meet your target customer at a sporting goods store or at a bait and tackle shop. Then again, your target customer might be half a world away. Your marketing strategy will depend upon where you expect to encounter him. If you think you'll meet him locally, you can put up advertisements at local sporting goods stores and bait shops. If you think your customer will find you via Internet, think about the sites most likely to attract your target customer and contact the webmaster. You might consider working out a discount for customers you find that access you from another website or you might set up an affiliate program in which you reward a site owner each time you get a customer from a referral.

Social Networks

Social networks have become an important part of marketing. The key element to social networking is to be "social." Don't only try to market on your social networks. Instead, share details about yourself and your life. Customers want to feel a connection with the people with whom they do business. Intersperse discussions about your invention with your other social updates and tweets.

Trade Shows

Trade shows provide a way to get exposure for your invention. You'll see how real-world customers react to the product, and you'll also have various networking opportunities to get others on board your marketing campaign. At shows like INPEX, major companies attend in order to see what products are available and sites such as the Houston Inventors Association provide listings on various trade shows and the products they normally market.

References

• "Entrepreneur"; Marketing Tips for Launching a New Product; Kim T. Gordon, February 2005
• The Monday Morning Memo; Targeting the Imaginary Customer; Roy H. Williams, December 2009
• Appalachian Center for Economic Networks: Defining Your Marketing Strategy
• "Entrepreneur"; Free Marketing Via Social Networks; Sara Wilson, June 2009
• About INPEX, "The Invention Show"
• Houston Inventors Association: Online Trade Shows for Buyers of New Inventions