The Myth of a Product That Sells Itself
Have you ever heard of a product that’s so great it sells itself? Those of us who work with independent inventors have heard that claim countless times. In fact, I heard it again just today.
An inventor—excited and eager, as he should be—believed his new product would capture the attention of the entire marketplace and sell like proverbial hotcakes. His exact words were, “It will sell itself.”
However, here’s the truth: there’s no such thing as a product that sells itself.
Why Coca-Cola Proves This Point
Still not convinced? Consider this. The most recognizable word in the world is “OK.” The second? “Coca-Cola.”
Did you know?
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Over 1.9 billion Coke products are served every day.
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3.1% of all beverages consumed are a Coke product.
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94% of the world can recognize the Coca-Cola logo.
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Between 10,000 and 20,000 Cokes are consumed every second.
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With a brand worth of $100 billion, Coca-Cola is more valuable than Budweiser, Starbucks, Pepsi, and Red Bull combined.
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Of the 30 or so non-alcoholic beverages with sales over $1 billion annually, Coke owns 20 of them.
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The Coca-Cola Facebook page has more than 109 million followers.
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By some calculations, The Coca-Cola Company is the 84th largest economy in the world.
If any product could sell itself, it would be Coca-Cola. Yet the company still spends over $4 billion every year on marketing.
Why Marketing Is Non-Negotiable
Write this down: there is no such thing as a product that sells itself. If you don’t market it—if you don’t tell consumers it exists—no one will buy it. How could they?
Marketing your product, and doing so with trackable key performance indicators, is critical to product commercialization and market success. This is true no matter how great your invention may be.
Key Fact: A proper marketing campaign includes research, creation, launch, tracking, and adjustments as necessary to maximize performance.
Get the Right Help for Your Invention
If you need advice, assistance, or guidance for marketing your invention, the Inventor Process team is here to help. We bring decades of combined experience to the table.
Pro Tip: No matter how great your product is, without marketing it will never make you a dime.
