Ever wanted to start your own company? Have a great idea for a new product or service?
I am thrilled to introduce our new expert advice series “Who Wants to be a Mom-preneur?” Having assisted in the launch of numerous products, Lauren & Allison, the duo behind Townsend Olmstead Media Co., are excited to share some of the tips & tricks they have learned with a new crop of potential entrepreneurs – moms like you! Mothers are incredibly resourceful and creative out of necessity and that often leads to innovation. With a little homework and a little hard work, your “quick fix” could become the next great idea. Here’s to the next BIG thing courtesy of a Mom!
Who Wants to be a Mom-prenuer?
Got a business idea? Ready to be a “Mom-preneur”?
Here are 4 questions you should know the answer to before bringing your product to market
1. Know who you are – We have worked with a lot of different kinds of companies across many industries, but the most successful ones, who make the biggest impact and have longevity, have a strong and clearly defined brand identity. They have developed not only their product, but the values behind it and have really thought through the image that they want to present to the market. They also know what makes them unique and have a clear vision of their goals for the future.
We try to encourage all of our clients to see themselves as more than a product, but as a lifestyle. Because we like to get profile stories on our clients, it is important to know that you are as a brand beyond the product you have developed.
2. Know who your customers are – Develop a profile for who you think your client is – it will help you project the right image and market strategically to those kinds of people. Where do they live/vacation? Do they like to go to the beach? Or do they go to the mountains? Or both? What magazines do they read? Do they like to entertain or do they value their private time? What kind of cars do they drive? An SUV or a Prius, a Porsche or a mini-van? What kind of lives do they live? Are they inspired by art? Do they want things to be simple?
3. Know how you are going to sell your product –
Develop your talking points – What is your product? What/who is it for? What makes it unique?
Determine the pricing – how much will it cost including packaging, shipping, etc.? Will it be manufactured in the US or overseas? Will it be sold in the U.S. only or internationally?
Develop your sales strategy and plan for distribution – Where will you sell the product? Once you begin promoting your product to the media they will need to direct the press/reader/viewer where to go to buy your product. Will it be sold online? On your site or on another online retailer? Will it be sold in stores? Will you handle all shipping and receiving of goods? Do you need a storage facility?
4. Know how and when you want to grow – If all goes according to plan, the introduction of your product to the market place and subsequent promotion through PR and marketing outreach will equate to increased sales and an increased awareness and desire for your product. Are you prepared to handle that? Do you have a plan for expansion and meeting the demand of large retailers and additional customers?
BONUS IDEAS!!
Five free ways to market your new product:
Social Networking Sites
E-mail blast to friends and family
You tube video
Start a blog
Contact the press yourself
PR veterans Lauren Townsend and Allison Olmstead are the duo behind Townsend Olmstead Media Co., a full-service public relations firm specializing in promoting the people and products setting trends and defining style. After years of strategic media outreach, creative positioning and building lasting relationships with the media, TO Media Co. has been successful in creating PR campaigns and strategies for companies large and small including Halsea, Pixie Dust Décor, Orange Coast Magazine, Bravo Sports and others by taking a “big picture” approach to each client. TO Media Co. has raised brand awareness and achieved measurable results for their clients through coverage on The Today Show, Good Morning America, People Magazine, Coastal Living, Real Simple, The Early Show and more.