Question

Topic: Advertising/PR

Response Rate To My Invention On The New Inventors

Posted by Anonymous on 6/12/2010 at 3:25 AM ET 125 Points
Hi there
I have been chosen to show my invention on the new inventors in 8 weeks time, i have researched as much as i can in relation to customer reponses from this show, but with no luck in terms of numbers. I know this is a relativly broad question but in terms of customer response would it be safe to say that of the 1mill people that watch it, i could anticipate sales of the .5% mark?, i have a website with shopping cart and the invention targets, restaurants food and entertainment, possibly to be used at home, much like the fondue set ( a novelty treat). Everyone loves it that see's it, so im sure ill make a good impression, but in terms of getting my supply stock ready, im not sure what to expect, has anyone had any experience in this field?, id appreciate some advice in this area
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RESPONSES

  • Posted by mgoodman on 6/12/2010 at 8:06 AM Accepted
    I have no real experience with this, but I'd imagine the response rate ranges from something less than 0.1% to 2% or more. It depends on so many factors.

    Your product targets a relatively small niche, if I understand it, so that will reduce the response rate. And the quality of your presentation will have a lot to do with what kind of response you get.

    What is your manufacturing turn-around time? Maybe the thing to do is have minimal stock on hand and then produce to meet demand ... if you can do that in a reasonable timeframe (say, 2-3 weeks).
  • Posted by mgoodman on 6/12/2010 at 2:41 PM Moderator
    Phil: I think mike suggested 0.5% (one half of one percent), and that's within the range I described. I certainly agree that 5% is not realistic.
  • Posted by Jay Hamilton-Roth on 6/12/2010 at 7:32 PM Accepted
    Can you contact people who've been on the show (recently) and sold similar products or to a similar niche? That hard data would be extremely valuable to have.
  • Posted by Chris Blackman on 6/13/2010 at 6:46 AM Accepted
    The only thing worse than not being able to cope with demand, is being able to cope with demand so low that it is way lower than expectation.

    Everyone understands when a product becomes a runaway success they may have to wait a little while for delivery.

    But don't over-cater, and then find you have no way to shift stock.

    Better to take an order, (and accept payment) then to apologise about delayed delivery, than to go broke.
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