Although
each product is unique and few products meet every success indicator we look
for in a television product, included below are some guidelines we follow:
Unique and Special
- Nothing Else Like It!
Unique can be in function (how a product works) or price (the competition
is substantially more expensive).
High Perceived
Value!
A product's worth should be readily apparent -- customers should feel good
about what you are asking them to pay. Although no magic formula ensures a high
perceived value, in practice this is accomplished with special offers like
"Not Available at Retail!" claims, unique product combinations (e.g.,
travel size bonuses), limited offers and free instructional videos. More often
than not, a combination of these techniques is necessary. Most importantly,
each product must prove its worth right out of the box -- customers will return
your product if it doesn't work as advertised.
A Nice Price &
The Right Format!
Television advertising is expensive and a 5 times manufactured cost markup
is generally necessary for DRTV to work. However, simply offering an overpriced
product won't work. What's more, your product needs to be offered in the right
format. Products selling for $299.95 typically won't sell in a two-minute
format; products priced at $14.95 can't support a thirty-minute format. Ask
yourself, "Does my product solve a $20.00 problem?" If your customers
consistently answer "Yes," you've probably found the right price
point.
Mass Appeal!
How many people will be interested in your product? You have about five seconds
to capture the television viewer's attention -- does your product have a
chance?
Protectible!
The power of television marketing almost guarantees your product will be
copied. Patents, trademarks, copyrights and proprietary manufacturing methods
should each be utilized, where possible, to protect your product. Your product
needs as much time as possible to identify itself as the Original!
Demonstrable!
There is a reason direct response television is known as demonstration TV
-- believable demonstrations create compelling stories and deliver sales.