I need some business advice (cycling content)

[stephenmarklay]

I have an business acquaintance, who was referred to me by a mutual friend, to look at a product for cyclists and perhaps help with some marketing.

I would like to keep the specifics vague at this time if that is ok.

Anyway, the product he developed, about 6 years ago, has not really “taken off” in the way he would like. However, it is in local bike shops and Amazon. He even had a near miss with REI but they chose not to carry it for now.

First, this is not a trinket but a substantial piece with a lot of design and manufacturing involved. I spent some time with it and it is top notch quality, unique in the market in several ways and overall a product that “should” sell.

Why hasn’t it gained momentum then? Good question but my gut tells me it just has not been exposed enough.

My acquaintance, the inventor of this item is also a very successful business figure in town and his daily obligations have not really allowed him to knock on enough doors or market substantially.

Here come the questions:

1. After talking with him, I have some interest in helping him get the word out by building an account base. I would like to see it succeed as he is invested emotionally and financially and it is a cool product.

This would amount to a sales rep type of position. I could use some help on what a realistic expectation as far as contract terms would look like between us. Since neither of us normally work in this capacity I seek the experts here that have been down that road. I would appreciate PM instead of thread responses to this question.


2. I do think this product would appeal to many of you as it does me ( I will get one for sure) so I am also wondering the value of OUR forum to market this product. Certainly, some folks are able to gain some exposure if nothing else here. I would absolutely be indebted if any vendors here can PM with there thoughts on this. Again, PM would be appreciate to keep those conversations private.

Any thoughts even if not to answer the above questions, privately, would be very helpful.

*Note: I do not yet have any business relationship but I also felt that talking about the specific product may be out of order. I am sorry if it all sounds mystical.

[cadence90]

Oooo...“Off the record, on the QT, and very hush-hush.”

https://static1.squarespace.com/static/56307e7ee4b0d5f605c060b9/t/568dfa0325981db074ae4eaa/1452145158537/?format=750w
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[OtayBW]

My acquaintance, the inventor of this item is also a very successful business figure in town and his daily obligations have not really allowed him to knock on enough doors or market substantially.
I don't know anything about your background or experience in this area, so I don't know what role you are hoping or able to fulfill. However, if, as you say, this guy is a very successful business figure with a lot of interest in seriously developing this product and no time to do it himself, I would think that he would invest in a product development manager with sufficient business, marketing, and branding acumen to make it happen. Perhaps you're that guy - I don't know. If not, I would consider steering him in that direction and perhaps play a role as technical advisor. GL.

This is not a Sham-Wow for bikes, is it?...

[joosttx]

Is it that sweatband that has channels to prevent sweat from getting ito hour eyes?

[OtayBW]

Is it that sweatband that has channels to prevent sweat from getting ito hour eyes?
Hahaha! Gutr. Tried it. Hated it....

[stephenmarklay]

Oooo...“Off the record, on the QT, and very hush-hush.”

https://static1.squarespace.com/static/56307e7ee4b0d5f605c060b9/t/568dfa0325981db074ae4eaa/1452145158537/?format=750w
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Which is exactly not what I am intending to do. I AM however trying to respect the forum and not be seen promoting a product. I have seen how threads can go...

[stephenmarklay]

I don't know anything about your background or experience in this area, so I don't know what role you are hoping or able to fulfill. However, if, as you say, this guy is a very successful business figure with a lot of interest in seriously developing this product and no time to do it himself, I would think that he would invest in a product development manager with sufficient business, marketing, and branding acumen to make it happen. Perhaps you're that guy - I don't know. If not, I would consider steering him in that direction and perhaps play a role as technical advisor. GL.

This is not a Sham-Wow for bikes, is it?...

Thanks Otay. He did look into a local marketing firm and the “package” they had for him was extremely expensive.

But I agree with the points you make.

[stephenmarklay]

Thank you for the PM’s folks.

[daker13]

Hahaha! Gutr. Tried it. Hated it....

Thank god I'm not the only one (on both counts)!

[Climb01742]

Thanks Otay. He did look into a local marketing firm and the “package” they had for him was extremely expensive.

But I agree with the points you make.

Executionally, marketing is pretty expensive. As good marketing should be (with all things, you get what you pay for.)

But that is an issue you can push down the road a bit. Good marketing is based on good strategic thinking, market analysis, targeting and understanding an audience, distilling your message. If the product is as good as you believe it is, yet it hasn't gotten traction, odds are you haven't cracked its strategic messaging. You need to get that right before spending any executional marketing dollars. Don't skip this step. I've seen more clients waste more money by jumping to execution before they've cracked positioning and messaging.

[stephenmarklay]

Executionally, marketing is pretty expensive. As good marketing should be (with all things, you get what you pay for.)

But that is an issue you can push down the road a bit. Good marketing is based on good strategic thinking, market analysis, targeting and understanding an audience, distilling your message. If the product is as good as you believe it is, yet it hasn't gotten traction, odds are you haven't cracked its strategic messaging. You need to get that right before spending any executional marketing dollars. Don't skip this step. I've seen more clients waste more money by jumping to execution before they've cracked positioning and messaging.

Fantastic. Thank you.

[mjalder2]

Don't skip this step.


What they said.

There are so many products (in any category) on Amazon to cut through the noise. Before dumping marketing dollars on an ill-defined product, work on the brand positioning piece.


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[doomridesout]

I agree with comments above-- you could hire a marketing company to do an absolute ad blitz at enormous cost, and if they fail to understand the position in the market in the first place, you likely wouldn't see much return.

As much hate as something like The Radavist gets for being essentially a pipeline of lifestyle marketing, dude has been inside the industry for years now and gets it as far as how to position a certain type of product for his clients. Your friend's product might not fall into that category, but an effort to define the pipeline into which marketing messaging will go is very important, and that blog is a good example of how effective targeted messaging can be. It sounds like you're on the right track with defining marketing as the weak spot in the business as is, now it's time to figure out where the target customer is looking to find new products.

[stephenmarklay]

This is super helpful feedback. I am grateful for all of the responses and advice.

[Louis]

I am also wondering the value of OUR forum to market this product

The forum has the "sponsor bar" (or whatever it's called) at the top of the page. I doubt anyone would have any problems with "your" product being a sponsor and you having a thread in the Vendors sub-forum to discuss things related to it. I have no clue how much that might cost, but it can't be too much.

Good Luck

BTW, I'll pay big bucks if it's something like anti-gravity paint that can be used to make the hills easier...

[mistermister]

Hey! !
Now hang on a minute...
I bought a Gutr for my horrible Fox mtb helmet and it actually helped!!! That helmet was a veritable waterfall of sweat into my eyes for some reason!! All hail thr Gutr!

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[stephenmarklay]

I just wanted to thank everyone again for the input. I had another meeting with him today and went over the comments.

I actually read him, verbatim Climb01742’s response as i thought it really was to the point and correct.

I also took some advice from Oldpotatoe via pm that I thought were useful. He has certainly seen how customers make choices in product.

Anyway, I have some thinks up my sleeve and may work with him on this.

For now it is just talking.

[likebikes]

what is the product? pm me if its too secret to post in the open

[bewheels]

I would not confuse what might be a "successful" product to the members of this forum with an overall "successful" product. The members of this forum represent a sliver of the population that purchase cycling related products. And as we all know, people that purchase cycling related products are a sliver of the population.

It all comes down to how you are going to measure "success".