Here are what I believe to be the most important components of a successful pet product…
Product (25%) – This is the actual product itself. It needs to be great. It needs to be better than great! It needs to be the BEST product in its category to break through. The product component is very important but still only 25% of the overall success.
Brand Name (15%) – Your brand name is extremely important and it should be benefit driven. In other words, the name should describe what the product does or its main benefit. If you have an unlimited marketing budget you can name it something abstract and create the meaning behind it. Also, keep it simple – 1 to 2 syllables and easy to spell.
# of SKUs (10%) – You need between 12 – 18 SKUs to create a real line in the mind of a retail buyer. Use sizes, flavors, shapes, scents, colors, etc. to get there. One SKU products are great for infomercials but not for retail. You need a brand block on shelf to be successful.
Rep (15%) – The ability of your rep to get an appointment with key retail buyers is very important to your success. If your current rep can’t get you the appointment, get a new one. Also, make sure you go with your rep on the first few calls to key accounts so you get the feedback first hand.
Packaging (20%) – You may be surprised that I give packaging a 20% contribution to your success – don’t be. Yes it is almost as important as the greatness of your product. If your packaging sucks so will your sales. Create a great package. Don’t settle for second best or sloppy packaging. Get a professional to design it. A lot of professional designers do freelance work for as little as $40/hour. Go out and find one.
Marketing (20%) – How good is your marketing plan? Will it drive trade and consumer awareness enough to get noticed and get people to buy? It better or you will be out of business in 6 months. Marketing & PR are just as important as ever. In the world of YouTube, Facebook & Twitter it is never been easier or less expensive to reach your target audience where they gather.
Well, there you have it – the Anatomy of a Successful Pet Product. How does your product stack up?
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Tags: pet business, pet marketing
John, I know you said you were not taking on any new clients as of last week but I would like to set up an apt with the free 30min consult with you if I may.
Our product is very well received by the customer, we’ve worked intensely on packaging, branding the name, internet marketing, SKU’s of 10+, but the rep and retailer is where I need to focus. I would like to talk to you about this further. Thanks, Linda
Sure Linda. Let me know when u are available.