If you're a fan of entrepreneurship and marketing, I highly recommend Discovery Channel's "Pitchmen" series. It's an interesting look behind the scenes of direct response television and what it takes to turn an idea into a successful product.
What I find most interesting about this show is how it showcases the inventors behind the products being sold and the blood, sweat, and tears they have to invest in order to see their dreams become a reality. It's very inspiring and anybody interested in developing the needed mindset to be a successful inventor will benefit from watching it.
You can watch it instantly via Amazon.com.
Another great aspect of Pitchmen is that you can see how the "hook " is developed and how new products are changed to appeal to a mass audience. This is great information for any marketer, inventor, or entrepreneur.
As Billy passed away in 2009, the show is now hosted by Anthony Sullivan of Sullivan Productions. For those interested in getting involved with direct response television, I've included his list of tips for success below, followed by my comments.
1. Is It Highly Demonstrable?
Just because something is obvious to you doesn't mean that it's obvious to other people. Because of this, it's a good idea to break your communication down into chunks to simple that even a kid in the third grade could understand them.
2. Is It Unique or New?
If it's been done before, you need to do it in a way that is different.
To use an example from my industry, music, think about the songs you really love. They're likely about very basic topics, such as love, but they communicate the message in a way that hasn't been done before. Hit songs are "similar, yet different." A love song called "I Love You" with a lyric like "I love you, baby. Ohhhh ohhhh ohhhh... I really love you, baby" isn't going to cut it, because we've already heard a million songs just like it.
3. Does It Have a Patent?
Good ideas get ripped off all the time, just ask the guys who invented The Slanket. Do what you can to protect your ideas, but at the same time, remember that if you're going to have to share your idea with somebody if you want to sell any of it. Take a chance, even if your protection isn't airtight, because obscurity is a bigger problem than copyright/patent/trademark infringement.
4. Does It Solve A Common Problem?
Again, to take an example from songwriting, you want something that people can relate to. Don't make a product or provide a service that solves a problem that most people will never encounter.
5. Does It Have Room for a 5x Markup?
It costs money to get the word out about things. If you're using television to do that, it can cost a lot of money. Online advertising, such as Adwords, can cost a lot of money. Selling something with a high markup can help make the numbers work.
6. Does It Have Mass Market Appeal?
"Get rich in a niche" certainly has value and makes connecting with specific markets easier, but if you're going for a "shotgun" media that will reach a lot of people at once, such as television, it's a good idea to sell something that more than just a few people will be interested in. In short, don't make a product that is so obscure that there is no market for it.
7. Does It Have Perceived High Value?
With all due respect, people are lazy. We like routine and we'd rather have things the way they are now rather than try something new that we might not like. Because of this, it helps to have something really, really good to offer people, because only something really, really good will be able to effectively combat our natural laziness.
How many times have you walked past a penny on the ground? How many times have you walked past a dollar?
Create an offer that is irresistible.
8. Prevention DOES NOT Sell!
If it's not a problem yet, most people don't think about it. We don't want to spend time in a gym that keeps us from getting fat; we want a pill that will make our current fat disappear.
Your customer is too busy to think about problems they don't yet have. For best results, focus on what they're already experiencing and offer a solution for it.
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