How to Bring a Golf Idea Or Product to a Worldwide Market Successfully

The worldwide golf market is quite quality conscious and golf product users, i.e., professional and amateur golfers, hardly ever settle for anything that doesn’t live up to world standards. Therefore, to bring a golf idea or product to a worldwide market successfully, it is important to understand the real needs of golfers as well as a thorough understanding of operations and marketing.

From the simple concept that is it best to keep a customer, than to attempt to sell your product one time to more and more customers. After all, the fundamental success of any business, particularly golf products, depends upon repeat sales. A lot of research, planning, budgeting and well timed, proper execution goes into the successful launch of a golf product on an international level.

Many real-life needs like how to clean a golf ball while on the course may lead to the creation of innovative products. But conceptualizing then launching them and making them readily available to the target audience is a further challenge. From creating an easy-to-remember product name to a dynamic product package followed by marketing the product (with the right approach) play major roles in the success of the product globally. All markets, golf included, all over the world are highly competitive. New golf concepts, ideas and products that come up often find it tough to establish themselves and inventors burn through their start up capital too early. Trimming expenses without jeopardizing goals and obtaining and retaining capital has become even more challenging in the current economic situation.

If you have a great product idea, then first of all, get a well qualified and experienced consultant to design the product, unless you are qualified enough to do it yourself. The next step would be to (perhaps) apply for a patent or patents to lock up all the alternatives. Then you have to get a prototype and source a domestic or overseas manufacturer. Deciding upon the packaging is the next most important thing as the safety and sale of your product will depend upon it. If you launch a golf product in the market but don’t market it very, very well, then it would be like the famous saying goes, “winking at a girl in the dark”. Without proper marketing your target market will not even know what your product is about and how it can solve their problems.

Most new golf ideas fail due to lack of capital, experience and basic golf marketing and branding strategy. A start up business should seek help from industry professionals and perhaps consultant companies; but be aware of fees that will be charged – remember spend wisely! Be sure that anyone you take advise from as an in-depth understanding of worldwide golf distribution. Always think globally and not locally, since wealth is accumulated by mass and expedited distribution.

Thorough market and industry research before launching a golf product or idea will ensure its success in the long run. When the customer needs are clearly identified, the pricing, distribution channels and the marketing strategy should be decided. And the would-be entrepreneur should do it after careful market research. A simple rule of thumb to follow is ‘for every $1 in production cost it adds $3 to the retail price’.

Golf business professionals may help new companies or individuals who have invented new golf products to develop an effective business plan for their product suitable for the golf industry, but again be wary of their fees, you can go out of business before you start. Golf business owners or individuals who have already embarked upon a golf product business but are unable to achieve success due to lack of experience or capital should advise, again by well qualified individuals. Many times licensing your concept or finished product to worldwide golf marketing companies may make the most sense; get a check every month and relax.

So always think long term, don’t get caught in huge fees for advice, pay attention to packaging, product weight and cube as often forgotten – yet crucial. And most importantly, when you do pull the trigger for distribution, be swift and precise, since all good products are duplicated and the one who covers more continents quicker generally control market share.

7 Steps to a Profitable Product Launch

If you want a successful product launch follow these seven steps.

1. Determine the needs of your customers by emailing a survey to find out what their interests are and what they would like to learn more about. After reviewing their surveys, thank your customers for their responses and inform them of the new product you are developing to meet their needs. This was done recently with one of my latest products and I received purchase orders from four percent of my current customers.

2. Develop products that meet your client’s needs and interests. This is the most difficult part of the product, is to take time to create it. When releasing the product it should be complete and robust, matching your marketing newsletters and promotional campaigns. Do not cut any corners on product creation which could hurt your credibility for future releases and products. I have customers who buy everything I have created and released. They do this because they know I deliver valued products and I deliver them on time and with highest quality.

3. Let your customers know you have a new product in development and when they should anticipate your release. Make sure they get all your promotional campaign emails and links to your product website.

4. Partner with other internet resellers and marketers who may have similar customers to provide joint campaigns and release newsletters.

5. Ensure your website is functioning properly. Make sure all your links work correctly, that your product is presented appropriately, your payment gateway is functioning and your thank you pages are operational and providing your customers with an appropriate thank you message. Ask your customers for their suggestions on their ease of use with your website and implement their suggestions when possible. Create a message board to identify customer contributions and results of those contributions.

6. Create a marketing landing page that will draw immediate and positive attention and traffic to your product. Understand what it takes to write a good article and content for your website and sales materials. Remember that a bad promotional campaign can have disastrous effects on even the best products.

7. Finally release your product! Send out an email to all your customers with a link to your website and product promotion page. Let them know the product they have been waiting for has been released and ready for their consumption. Repeat the email notifications for a couple of days and then sit back and collect your profits.

Got A Brilliant Product Idea! Now What?

You came up with a great product idea and you want to go for it! So what should you do next?

When you think you’ve created the next big thing, it’s easy to get caught up in the excitement and go full force with the idea. Passion is indeed a component for success, but it’s also important to remain focused and realistic about your expectations. Launching products can be extremely exciting and fulfilling, but it can also become pretty overwhelming.

Taking baby steps especially if it’s your first product launch may be just what you need to get you prepared and well-positioned to grow your business successfully. It’s not always good to go full force even if you have the capital to fund your idea.

Here are three things that may help in the process.

1. RESEARCH & PLANNING. Gathering as much information in the beginning is so important. It is always best to understand the marketplace – what the market demands, your ideal clients and what they’re willing to pay for your products.

At this stage, shop online and at retailers that you think would carry your products, visit showrooms, gift marts and tradeshows as part of your market research. If your product happens to be in the gift category, for instance, there are several gift shows across the United States that are mostly held twice a year. Check out your potential competitors, find out what’s doing well, talk to retailers and get their feedback – they’re a great resource.

Shows are also a great way to get ideas for your products and connect with possible sales reps to represent your line…although I often suggest to my clients to start on their own first and then entertain reps at a later date. The reason for this is you have to pay a commission to a rep which will decrease your profit margin. Besides, YOU are your best sales person. Although this may take up a lot of your time, there is no one more effective who can sell your products than YOU.

Of course, there are advantages to hiring reps. If you choose to do this, just be sure that you have their commission built into your pricing model and that you remain profitable (more on this to follow).

2. PRICING. Pricing is a major factor when doing a product launch. You could have a great product but if the market cannot accommodate the price that you have in mind, it will be a challenge to sell your product. Look at your competition and check out how much they’re selling their products. Do a price comparison on your product line. Make sure before you even go into production that you’re going to be able to sell your products at a price that is PROFITABLE for you! I know this may seem obvious but I’ve seen so many people launch without having a pricing model.

Keep in mind that you may start online because it’s the easiest and more profitable way to sell your products, but you may have plans to grow and sell to independent boutiques and possibly to department stores and major retailer, which means you’ll eventually have to hire reps. So you need to make sure your pricing works for all scenarios. Having a pricing model can ensure that you’ll still be profitable even when adding reps, working with smaller margins or adding additional expenses such as warehousing, etc.

I always tell my clients to make sure you look at pricing across all market channels even if you don’t have any intentions to sell to larger chain accounts. It will be challenging to change pricing once your products are already in the market. AND, you can’t have a product selling online at one price and a different price at a retail store. The last thing you want to do is to create competition between you and your customers (retailers). If you must, just make sure that your customers are aware of this from the get go.

3. TESTING. Testing is key when launching a product to the marketplace. The internet, faires, bazaars, shows and expos are all great ways to sell your products initially. A lot of successful business owners started by selling their products at these smaller venues. It’s also particularly a great way to get feedback on your products before doing any large volume production. Most retailers, especially mass chains usually do a test run before committing to a larger P.O (purchase orders) on any product lines especially a brand new line and a brand new company, so you should do the same. You can start by selling your products on your website, sell them on other sites such as etsy.com and amazon.com.

Also, when you approach a buyer, one of the things they may ask is how much sales you’ve made on your product line, so having sell through number to present to them demonstrates that there is demand for your brand new product line in the marketplace.