How's this for a new product marketing plan?

[sukie]

We created a new product and I received some great advice from all of you here. Anyway... to promote our new product we found that it is very tactile in nature and a website or print ad just doesn't do it next to having it in a customer's hand.

Our list of friends and relatives is finite but does extend across the nation so we sent out samples... Great responses on our facebook page and lots of web hits but little in the way of sales.

We hooked up with a great charity... Meh as far as response goes.

So we came up with this idea: Pay it Forward Free (make someone happy)

So far so good. It expands our product spread and everyone wins. In the first week I would rate it a solid "so far so good"

YouTube - Happy and Free


opinions?

[Meta]

Interesting marketing, sukie. You will have to keep us updated on how it works as time progresses.

[inle]

How's your ROI?
What's the SALES generated from the COST of your campgains & what's the CONVERSION RATE like?
How long will it be & how's the TESTING & MEASURING like?

That will determine the success of your marketing..

[sukie]

How's your ROI?
What's the SALES generated from the COST of your campgains & what's the CONVERSION RATE like?
How long will it be & how's the TESTING & MEASURING like?

That will determine the success of your marketing..

Sales volume will determine success.

I figure that by sending a free one to someone other than the buyer of the 2 required by the plan... i get my product out to where I normally would not without expensive ad campaigning.

profits over cost at this point is not even a consideration.

[inle]

Let me illustrate an example to share with you something so that we can have a better common understanding..
I figure it works for me & several businesses I had encountered & knew about..
I hope it will work for you too..

The cost of running a market campaign, say it is $10000 over a month..
Say you are able to reach 100000 prospects through this compaign..

Out of whîch, 10000 of them(or 10%) will buy from you within that month..

If they spend on an average of $10 on your offerings & 10%($1) is your net profits(after considering all your costs in running your business), we will be looking at $100000 sales volume($10 per sales*10000 customers) & $10000 profit(10% profit) within a single month..

This mean your sales volume for a month is at $100000..
& your annual turnover might well exceed $1m in the first year for a new startup..

Impressive enough..

This will also mean that your marketing campaign will only be at break even point within a month, & even a year..
& you are not profiting at all for your business..

Your campaign cost $10000..
Your profits is at $10000..
So this is at a break even point..

So far, do you have these kind of figures in your marketing campaign or program you are running?

I figure all the above numbers are extremely important in runnng a business & its marketing campaigns(at least for myself & the businesses I encountered & knew about)..
We can only manage what we can measure..
Otherwise, we can only just act on a gut feeling & the prospect of wishing for good luck..

Just my humble opinions..

[Auspreneur]

I think it is a great idea and it's good to see a different approach. The only thing I can fault is I had no idea of what your product was until I clicked your link whether that was your intention or not I don't no.

Good luck with it

[sukie]

Let me illustrate an example to share with you something so that we can have a better common understanding..
I figure it works for me & several businesses I had encountered & knew about..
I hope it will work for you too..

The cost of running a market campaign, say it is $10000 over a month..
Say you are able to reach 100000 prospects through this compaign..

Out of whîch, 10000 of them(or 10%) will buy from you within that month..

If they spend on an average of $10 on your offerings & 10%($1) is your net profits(after considering all your costs in running your business), we will be looking at $100000 sales volume($10 per sales*10000 customers) & $10000 profit(10% profit) within a single month..

This mean your sales volume for a month is at $100000..
& your annual turnover might well exceed $1m in the first year for a new startup..

Impressive enough..

This will also mean that your marketing campaign will only be at break even point within a month, & even a year..
& you are not profiting at all for your business..

Your campaign cost $10000..
Your profits is at $10000..
So this is at a break even point..

So far, do you have these kind of figures in your marketing campaign or program you are running?

I figure all the above numbers are extremely important in runnng a business & its marketing campaigns(at least for myself & the businesses I encountered & knew about)..
We can only manage what we can measure..
Otherwise, we can only just act on a gut feeling & the prospect of wishing for good luck..

Just my humble opinions..

Thank you very much for the above.
Interestingly enough, however, it is too early to quantify results this early in the campaign.

The issue at hand is product awareness. The campaign is for that and that alone.

This early it is more important to get the product out into hands of people that otherwise wouldn't know about it.

(vs spending vast amounts of cash in media sales ads which might only possibly work.)

So far we have received inquiries into custom orders , two so far, one is for a custom job quote for 1,2,and 5k units all from someone who received a free one (although not through the campaign since it is just over a week old)

the second is for 250 units.

who knows of a mathmatical formula that can quantify that?

who knows who will receive one of our product and order enmasse?

Again thanks and I'll follow up with results from time to time

[sukie]

I think it is a great idea and it's good to see a different approach. The only thing I can fault is I had no idea of what your product was until I clicked your link whether that was your intention or not I don't no.

Good luck with it

I didn't want to possibly be considered a product/site spammer. It was intentional but thanks for clicking.

[krisss]

I think it is a nice idea! Especially for increasing your product awareness which is what you are trying to do.

Havn't seen this before !

Nice work!

[inle]

Thank you very much for the above.
Interestingly enough, however, it is too early to quantify results this early in the campaign.

The issue at hand is product awareness. The campaign is for that and that alone.

This early it is more important to get the product out into hands of people that otherwise wouldn't know about it.

(vs spending vast amounts of cash in media sales ads which might only possibly work.)

So far we have received inquiries into custom orders , two so far, one is for a custom job quote for 1,2,and 5k units all from someone who received a free one (although not through the campaign since it is just over a week old)

the second is for 250 units.

who knows of a mathmatical formula that can quantify that?

who knows who will receive one of our product and order enmasse?

Again thanks and I'll follow up with results from time to time

Thank you for the kind feedback..

If you are înterested to know how to qualify & quantify your sales & profits, do let me know..
if a campaign cost $10,000 to run & yet can generate $100,000, what will you get if you invest $50,000 or $100,000 in the same campaign?

Yes, there is, in fact some formulaes for calculatíng & achieving the figures from creating awareness to profts ..
But there is a lot of hard work, brain racking activities to do prior to making that work for you..
However arriving to that will differ from businesses to businesses, from business owners to busíness owners due to different environments & expectations..

Drop me a pm when you think you are ready to work on creating more value for your business..

[sukie]

Thank you for the kind feedback..

If you are înterested to know how to qualify & quantify your sales & profits, do let me know..
if a campaign cost $10,000 to run & yet can generate $100,000, what will you get if you invest $50,000 or $100,000 in the same campaign?

Yes, there is, in fact some formulaes for calculatíng & achieving the figures from creating awareness to profts ..
But there is a lot of hard work, brain racking activities to do prior to making that work for you..
However arriving to that will differ from businesses to businesses, from business owners to busíness owners due to different environments & expectations..

Drop me a pm when you think you are ready to work on creating more value for your business..

Thank you for all of your responses.

I am fortunate to have low cost items. My cost per unit will dwindle down as supply chains are formulated.

Although this campaign is for awareness. There is a shift happening in redesign to accomodate customization.
ARGH more R&D but all will develop in time.

What type of business are you in with all that number crunching?

[inle]

I help business generate profits..
& generate more profits for some who are already generating profits..

I hate numbers but I also believe that we can ONLY manage what we can measure..
Otherwise, business profits are just based on some beliefs, gut feelings & even luck factor..

I prefer not to view a business venture as a lottery venture..
I prefer to see every campaigns as profit generating ventures..

Unless the business we are discussing here is not for profits generation, primary or secondary..

[guerrillaRed]

Pretty cool Vid. Still not sure what the product is like the other guy said

[sukie]

Large tumblers (cups) with neoprene wetsuit covers, 30 and 20 ounce size. The 20 ounce cover fits most beer pint glasses as well.

Visit the site.

[byrneof]

I like it. It has an inbuilt viral element. Makes people want to know more which is great.