8-Point Evaluator

Use the following 8-Point Evaluator to determine the potential success of your product or service. If five or more points apply, we can establish that your product has serious potential in the consumer marketplace. This Evaluator is based on real-world marketing experience with thousands of products evaluated and with many brought to market. We hope that after you review these 8-points, you’ll set up a consultation and let us help you succeed.

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1. Mass Appeal: Product and service marketing is most effective when reaching a mass audience. Most marketing is very ineffective at reaching highly-targeted audiences. While it’s true that purchased and earned media can be tailored to certain demographics, the fact is the greater the mass appeal, the greater potential for success. Mass appeal is defined as appealing to 15% or more of U.S. households.

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2. Markup Ratio: The larger the Markup Ratio, the greater your chance of success. Markup Ratio is determined by dividing the sales price by the cost of goods with the goal ratio of 4-to-1. For example, if your product sells for $59.95, the cost of goods would ideally be $15. However, a 4-to-1 is just an ideal. Many products with a 3-to-1 have been highly successful and this is especially true with higher priced goods. With lower markup ratios, more pressure must be placed on media and other factors (see #7 below) to make profit.

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3. Demonstrable: Television and web video are ideal mediums to show end users how a product works and to demonstrate the product’s benefits. The more your product can be readily understood through visual demonstration, the greater the probability for success on television and through web video. If we turned on a camera and asked for the product to be demonstrated in one minute or less, can this be done? An example of a demonstrable benefit is a cleaning solution that removes set-in stains in under 20 seconds. An example of a poorly demonstrable product is pre-paid funeral services. If your product is less demonstrable, that’s OK. It just means that radio, print and other marketing methods are going to be more cost-effective choices to reach your market consumer.

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4. Change in Lifestyle: The more a product will instantly and radically improve the quality of a customer’s life, the greater chance for success. Many effective marketing campaigns advertise products that create transformations which quickly and significantly improve the end users existing lifestyle. For example: an abdominal exercise product that targets the stomach muscles, or a battery-operated hair brush that helps increase the volume of thinning hair.

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5. Great Value: When first starting in the industry, a seasoned marketing professional taught our group an important lesson in consumer behavior. As a consumer watches, listens to, or reads a marketing message, they hold in their hand an invisible balance scale. On one side of the scale is “BENEFITS” and on the other side of the scale is “PRICE.” When the benefits outweigh the price, they are likely to buy. In other words, the price-to-benefit ratio must always be in benefit’s favor.

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6. Problem & Solution: A very effective marketing technique is stating a problem and then providing the solution to the stated problem. Example #1: “Is your hair limp and lifeless? Well, now you can have full, beautiful hair with up to double the volume with the Abounding Volume® Hair System!” Example #2: “Has this ever happened to you? You’re driving into the bright sun and realize you’ve forgotten your sunglasses. Well, now you’ll never forget your sunglasses again with Fold-A-Ray®, the foldable sunglasses you can take anywhere!” The bigger the problem and the easier the solution, the more sales your marketing will generate.

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7. Upsells/Cross Sells/Continuity: After a customer has purchased your product, you have a very unique opportunity to sell them additional products. These additional sales – called upsells, cross-sells and continuity – can generate huge profits for a campaign. These additional products must be related to the primary sale – such as a deluxe recipe book sold with a home juicer, or specialized night cream with a skin care offer. With a continuity offer, the customer receives a new consumable on a continuous basis – normally every month. Good examples are specialty vitamins or an exclusive cleaning solution that the consumer uses with their main product.

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8. Retail Potential: For every sale created through direct selling, between five and 20 times as many sales can be made at the retail level. By making your product available at retail, a campaign can drive profitable retail sales while continuing to sell direct-to-consumer.

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So how did you do? If five or more points apply, we’ve established that your product has serious potential in the consumer marketplace.
Set up your phone consultation today!