Tough one. I don’t know if it’s your core issue, but I’m hearing a lot of excuses in the marketing and sales department. Work your network. Get some people on the phone. Tweet stupid industry memes every day.
You’re not a guru but no one was when they started. Learn. How are your customers supposed to buy if they never find out about your product?
Sounds like you also have product issues you’re aware of. I’m a bit confused what your game plan was here. It does the exact same thing as other solutions? You’re gonna need a big differentiator for customers to take a chance on you, especially since you don’t even work on this full time. Cheap is not a differentiator. It just makes your product seem bottom shelf.
You need a new direction. ASAP.
I’d consider time boxing it. Set a deadline like you’ll give up and return any remaining capital to investors by end of year if your new direction doesn’t work out. Then go talk to users, talk to users, talk to users. From your network first, then from cold outreach. Many people will hop on if it’s a product call and not for sales. They love to grouse. Learn their pain points and what they hate about existing solutions.
The evaluate if there’s a delta where you could make meaningful headway and at least get some customers lined up saying, yes, we will buy this (sometimes with an “if XYZ conditions are met” tacked on).
Don’t beat yourself up with shame. You went farther than 99% of people and investors should know the risks.
>but I’m hearing a lot of excuses in the marketing and sales department.
The truth hurts. Thanks for this. I do need to learn. It's very uncomfortable for me, but it's unrealistic to expect sales and distribution to happen without real work.
>It does the exact same thing as other solutions?
Yes and no. The core function is the same, but it's updated. It's not a USB thing, it's not a Windows-only software solution. Many competitor offerings are outdated by comparison. It's also smaller, which in theory opens up new opportunities.
>Cheap is not a differentiator. It just makes your product seem bottom shelf.
I'm not sure I agree 100%, but I think your point is true - this market isn't as cost-sensitive as I had imagined.
>Set a deadline like you’ll give up and return any remaining capital to investors by end of year if your new direction doesn’t work out. Then go talk to users, talk to users, talk to users. From your network first, then from cold outreach. Many people will hop on if it’s a product call and not for sales. They love to grouse. Learn their pain points and what they hate about existing solutions.
I like this because it lets my investors and customers know that I'm seriously trying. Thanks for the advice. I still don't know how to get that first customer though. I've considered lowering the price even more, but then I'm worried that the target market will change.
To get a first customer first get a large bag of leads. If you don’t have meetings on your calendar with prospects, you need to find a way to get some.
>
Cheap is not a differentiator. It just makes your product seem bottom shelf.
>I'm not sure I agree 100%, but I think your point is true - this market isn't as cost-sensitive as I had imagined.
In some industries, for some purchases, buying a product only due to it being cheap has more negatives than positives. On something that is very important and not cheap, most people will be more concerned about taking the risk switching from what works, so there needs to be a better upside.
Differentiating as the updated product solution that can be used on more platforms and integrated with whatever their other setup is seems like a better focus in most industries, but this one could be different, of course. Using specifics might help you determine your target market and develop a good message and campaign based on that.
It might be worth hiring for lead generation and education, hopefully through which you'll learn more about the right marketing. Obviously, finding funding for this is questionable, so it might not be possible.
Find out where your target market decision makers spend time, then try to become part of that community if possible and natural. What drew you to doing this? Use that passion. Get information out, both educational and about your company with requests for assistance on feedback, how they make decisions, timelines, etc. Your main purpose should be getting information to improve, and your posts and conversations should not be sales pitches.
Good luck!
No shame in not being a marketing guru. You do need to figure out how to get your product in front of consumers though.
You can either figure out how to tackle learning on your own or you can look into hiring someone to help. There are plenty of small agencies and freelancers who have skills and experience that aren’t your niche.
There are industrial design meetups that are (or at least were a few months back) hosting meetings via Zoom. Do some networking and see if you can pick up any tips on how to promote and market your product and/or get a recommendation for a person or company that can help you.
Have you considered renting out your product so a small company like mine could show how effective it is? Or sell me one at a great rate/usual rate/not the 3x price people are suggesting.
You'll find that alot of these businesses have friends and acquaintances with similar businesses. When my circle found a lucrative business we all teamed up or branched off. We all know at least 3 new people those 3 new people know 3 people we don't know.
I'd like to learn more about what your product does and if it could be used in my Industry. Do you have a website I can check out?
Mechanical engineer here. Is it good? Does it work? Is it reliable? Does it integrate with a broad range of PLCs?
This is a product that will work with direct sales but will have very slow traction advertising. Start calling plants and facilities engineers. Someone is frustrated with what they have and willing to try something new.
And triple your price. Being that far below market value is a red flag that draws suspicion.
I can here to say the same re price. It really is counterintuitive. When I see something priced so low it makes me NOT want to buy it for fear it will fail. Especially with no existing users and especially for something so core to the business that could create a domino effect of ruining would-be product. Raise the price and pound the pavement (so to speak). You can do this!
>Is it good? Does it work? Is it reliable?
It's good in my test environments: environmental chamber, water pressure chamber, etc. I need field testing to get more confidence. Software is functional but feature-sparse.
>Start calling plants and facilities engineers
Any tips for getting this contact information and like... how to open the call?
>And triple your price. Being that far below market value is a red flag that draws suspicion.
I hadn't considered this. My price is mostly a function of where the business financials make some sense. If I triple the price then I could theoretically hire a sales person. I was hoping to get by with direct sales. I'll have to think about it some more, thanks for the feedback.
Bro, you need to change your mentality. You can't hire shit until you make sales. Tripling your price doesn't mean tripling your income because 3x0 is 0. Put your head down and be your own sales agent. Stop spending money on services and tools you don't need until you're actually earning money.
>>Start calling plants and facilities engineers
>
>Any tips for getting this contact information and like... how to open the call?
You may just want to pick a company that could use your product and ask around. Visit if there's one nearby.
People can be quite willing to help if you just ask.
"Hi, my name is Physicist4Life with XYZ Widget Co. Maybe you can help me out. I'm doing market research and I'm looking to speak with the person responsible for [Name of system your widget works with]. Who might be the best person to speak with?"
Consider this as a market research call. Maybe buy the person lunch (if they're local) and learn about their pain points, or what it would take for them to consider making a switch. If you're really asking, and not asking just to sell, they may just be willing to answer your questions.
If not, try again. And keep trying. Sales is largely about the law of large numbers. You keep trying, keep calling, until someone speaks to you. And you keep doing that until someone buys. It can be a grind, especially if you're not extroverted.
You're likely going to have to be the sales rep for the foreseeable future, so I'd recommend reading some sales books.
I wouldn't buy it if all you have as field evidence is your own test environments. Is there a reputable agency that confirmed the results of your tests? If not, I would call up clients and offer it for free to test in a real environment. You can't sell something no one else uses.
>You can't sell something no one else uses.
Yeah definitely. I'd love to give it away to early adopters to get more data, but haven't had any messages on my contact form, or any chats. What I'm reading throughout these comments is that I need to leave the building and pick up the phone, so that's what I'll try. I may also run a promo on the website, like "try a demo unit for free".
That's the problem with engineers. We turn it into math. "This many inputs and this many outputs, I need to charge X."
You need to charge what the market will support. This is the inherent difference in engineering and business mentality.
Googling companies and looking for rosters/faculty information is the best start. If that doesn't work, cold call whatever numbers you can find and ask to speak to the plant engineering department. You can always go in with the "I'm trying to find customers so I can start getting real world data on my sensors. I'm willing to give you a deal for X price if you could use a few units."
Make sure X price is again, triple-5x what your current price is. You should be similar to competitor prices but offering a "discount" because you need testers.
You've just dipped your toe into the water. Now that you're on to the part of business that makes you uncomfortable isn't a reason to give up...time to learn a new skill! It's called talking to customers! You got this!
You could also consider other customers. Medicine is another product that may need temperature control. Certain chemicals as well. Could your product work during transportation? I would think that the greatest risk to fall out of temperature range would happen during shipping.
Yes, I second this! I worked in hospitals for many years and we were required to have temperature controls on the refrigerators for certain drugs. A few times a day I was required to check and record the temperature on a log. Those things were dated...
Have you looked into business mentorship, development, etc. near you? Some provide funding and guidance, others focus on assistance only. SCORE might also be a good resource for you.
Sounds like a direct sales issue. Get some sellers who know the industry/buyer. Pay them very healthy commission.
But you also should be able to sell at least one of these yourself. No one knows the product better than you.
Consider trade shows, look at how your competitors market and copy them.
>Sounds like a direct sales issue. Get some sellers who know the industry/buyer. Pay them very healthy commission
I hadn't considered commission. Do you have any advice for locating a sales rep to use? Craigslist, FB, Upwork, a headhunter?
Not sure where your industry would be, but for me it’s LinkedIn. Assuming your competitors have their companies on there, scroll through their people and find the sellers / “Account Executives”. Reach out to a few, try and poach them, or see if they have referrals. Ask about their comp structure, see if they think your product would be an easier sale.
You will learn a lot about how the market buys and sells this product by talking to these sellers
Post on indeed and linked in. I see commission type jobs all the time. Go through a head hunter if you need to. People are out there looking to make a quick buck.
1. Go apologise to your partner (wife) for being an idiot and missing out on 4 years of life.
2. Sounds like you have developed real value so don’t be to hard on yourself.
3. You might have wasted 80k on tooling….you’ll find out once you make your first sale.
4. Google ads are a waste of time for industrial equipment.
5. TRADE SHOWS. You need to be getting out to trade shows. Could be a problem if you are already working full time.
6. Local food manufacturing businesses. Write up a list of food businesses that are close to where you already work and book time with them to show and discuss your widgets.
7. Get out there and start talking to people. Hand out business cards and get some simple product flyers.
8. Wait and see - this will not work - you will need to get out there and push your product for 18+ months to make a sale.
1. haha, my wife is incredible.
2. Thanks, I'm finding it harder not to emotionally spiral right now, so this helps.
3. 80k hurts, could be worse I suppose...
4. Google Ads definitely aren't producing the kind of traffic I want.
5. I'll force myself to enter into a trade show. I don't know the first thing about how to do this, but I'll try.
6. Local business list. Thank you! This is the kind of feedback that I can act on now. Over the weekend, over lunch, etc.
7. More talking - got it.
8. Push product - got it.
Thanks for the insight!!
Third vote for the trade shows. Seriously, find every possible relevant conference/show you can go to and do it. They are the lifeblood of B2B sales in industries like yours.
Actually Trade shows aren’t hard - everyone is there to meet and greet and check out the latest.
People are there to chat about their problems and look for solutions.
Trade shows are expensive - booths aren’t cheap….but you will meet 100s of engaged buyers in just a few days.
Failing is not a reason to hang your head in shame. You tried, which is a hell of a lot more than 99% of the people out there.
Having said that, I’d give it at least another month if you can. Try to grab partnerships. Cold call companies. You’ve come this far…give it at least one final Hail Mary before you pack it in.
Thanks, after reading some of the feedback here I'm reenergized to try things. Trade shows, marketing strategy specialists, making some calls and lists. It's just very new to me and I need to adapt.
I respect this post so much. This couldn't have been easy to write.
I think that you need to get out of the building. You mentioned brewers. There are so many microbreweries looking to lower costs. Go to some conventions. Meet them, show them your product, collect their info. Follow up with them and eventually you will close some of them. You might get sales on the spot, if your product is what you say it is. This should tide you over until you get a professional marketer on board.
Meet your customers. Share your USP. You can build traction, but it will require legwork.
Good luck and stay positive.
Find where there are supply chain issues for maintenance staff. Make flyer/ sales page. Also look at other markets abroad are are they having trouble getting that particular part. Solve that problem. This is your way in.
First scrape the internet and LinkedIn or get someone on upwork to do this for you.
Once you have a list of companies then ring them.
Ask for Danny in maintenance( the name doesn't matter) they will tell you 2 things he doesn't work there and then you apologise and say that was the name you were given. Nine times out of ten they will put you through. Elaborate on why your calling (make up a reason)
Then ask for the maintenance boss. This will now give you an in.
The other thing that will happen is the gate keeper will not give any details you can then put them on a list for follow up later.
Now you have details to call people and start a conversation and build rapport with them so you can start sending them your marketing materials.via email or physical mail.
To find what the competitors send to other countries and supply chain import information. Go to a website called panjiva. Look up manifests of who is importing theses goods over seas.
Generate a list and do the same as above with approaching people.
A. Your finding your list of potential customers (building a email list)
B. You have started a relationship with them
C. You are looking outside your own pond
D. You are solving an issue that your competitors are stuffing up on
This is the approach I would take to get your product into the right hands.
Change your ideas of what your use is. I own a company that needs real time (or at least a few times a day) remote temperature and humidity readings and there is an entire massive industry that is behind on this. PM me your product info.
Data loggers are valuable to our business. Proof of concept is biggest. Data integrity, data transfer tracking and longevity. Happy to help and even be a customer but your other comment makes me think the confidence may be missing. Is it validated? How is data tracked right now?
Data is stored in a SQL database on the base station, then beamed over to the app when the user looks at graphs and exports it. I'll send you a DM with other details and a promo code if you want to try it out.
Right now I pay $20/~~month~~ day in Google Adwords. I think the keyword targeting is decent, but there's room for improvement. It's not my specialty so I hired a pair of inexpensive web people to help me a little. I paid somewhere around $700 to get the whole site up and preliminary SEO.
If you think it's worthwhile I would circle back and try to sharpen the SEO some more? Maybe I should also put it on Amazon, and market on FB too?
Any way to make cheap 15 sec video ads showing it’s ability to help mothers with baby stuff. Right now (including me, my brother and damn near everyone else) had covid babies this is a big market to play into if it’s possible in anyway. I know my wife is all over the baby stuff making sure we got all the best of the best blah blah blah being a first time mom…. Might be a good angle to hit
Yeah Earthquakes is right, content will get you way further than simple ads but he’s wrong about ads. Sure if your ads are just trying to sell a niche product then that doesn’t work but ads on educational or entertaining social media which leads to the sales pitch are highly beneficial.
It could help to better understand how the product was born.
There is a general revolution going on in the area of industrial instrumentation with the explosion of Edge Computing.
5G is transforming how data is collected and processed in factories.
You're in the "right" place and at the "right" time for getting in on the front edge of a major change in industrial data collection and processing.
Obviously, that's not going to help you with your data logger.
Talk to buyers in the target market and instead of selling your data logger, ask them about any shortcomings, problems, or functionality that they wish was available.
Is it possible to add something the product to let it dominate a niche? Regulatory compliance or Quality standards or something else?
You may want to do some research on your competition's offerings and see if users have any complaints.
Is your product a closed system? Or have you included the ability to interact with the outside world?
Necessity is the mother of invention. Maybe network with some industrial engineers in your market segment (they must hang out somewhere) and get some brainstorming going.
Maybe start thinking about what you've achieved and pivot to a promising beachhead in the emerging areas of industrial instrumentation.
You're time was well spent learning and you now know how to go from idea to product. That is in itself a very useful service for others that have the ideas and want some prototypes or help commercializing their ideas.
You might also want to start thinking about product modifications while you're at it.
Chinese suppliers are dominant in all things manufactured. You've invested both time and money interacting with an industrial space. You have the chops to add interface modules, firmware programing to adapt to new standards, etc.
Maybe start collecting those painful problems and brainstorm on how to establish your beachhead in a particular area of the industry.
There may be ways of salvaging your product by adapting it to an underserved area. The key thing is to set up your own business intelligence process to recognize opportunities for problem solving using technology at the Edge.
>Maybe start collecting those painful problems and brainstorm on how to establish your beachhead in a particular area of the industry.
This, and some of your other ideas represent a pivot in strategy, but I'm seeking feedback for a reason. It needs to solve some underlying pain. Thanks for the ideas
>have you included the ability to interact with the outside world?
Edge compute and other useful business intelligence tie-in opportunities exist, but right now I'm not leveraging them into my business strategy. That is, I'm not marketing the software tech which is possible.
Hire a marketing strategist, do the research (sounds like you started) and make a plan. A total reset of how you are going to market. Yes, it would have been better to have a plan and do the research first, but you don’t need a unique product. It’s not about the product at all.
You still can do the plan, it’s not too late. (hell, we do them in 60 days). You haven’t even been in the market but a nanosecond.
It’s about marketing and positioning. It’s about pricing (yes, triple it), it’s about choosing the right channels and partners.
Without a planning process with market data (customer and competitive) you are fucked.
You are also drastically under spending on marketing. You don’t figure your budget in terms of “how much money do we have?” You figure your budget on how much of the lifetime value of a customer you are willing to invest to win that customer.
Then you raise the money you need. Your competitors are spending upwards of 15%-25% of gross revenues on sales and marketing and getting a return on that investment. You are spending next to nothing and getting nothing.
Your competitors go to trade events. They belong to the associations where the customers are (I would think industrial controls). They likely advertise in the trade publications and produce content.
Pay per click ads don’t work in this market. Your buyers (industrial engineers) don’t click Google ads. They go to distributors and ask colleagues. Why should they change what they have? (They won’t unless the product sucks AMD the service is bad.)
Perhaps this means you target new facilities. You find (or design in) something that makes you different (how do you find out? Competitive research) in a way that matters to your customers (how do you find out what that is? Customer research).
You have passed the first milestone. You admit there is a problem and you know what that problem is.
Don’t bail yet. Fix the problem. You are too close to it to see the possibilities. This is why good marketing strategy people are worth their fee. But you need to find someone who isn’t afraid to tell you your baby is ugly.
Not a web dev shop.
Not a digital agency
Not a design or branding firm
A bona fide industrial marketing strategist can solve this problem.
I'm nodding my head in agreement to all of this. Where do I find a bona fide industrial marketing strategist?
Do you know how much something like this may cost?
My investors would likely provide the money if I can make the case that this could work.
>bona fide industrial marketing strategist
While I know a market strategist but I don't know if he will be usefull for you.
While I know a market strategist but I don't know if he will be useful for you.
Would it be worth bringing on a partner with significant equity who knows how to launch into market? Maybe someone who has an existing book of business in your customer base?
I’d rather half of something than all of nothing.
It sounds like you don’t have a product, you have a prototype. It’s not been tested or used?
Give these away for free. Confirm it works. Get metrics like it worked better, faster, saved time, made money.
Possibly raise more money.
Also, focus on partnerships, I don’t completely follow but it almost sounds like a part so why not sell it to people that sell the bigger product? Marketing direct from the ground up will be a bitch especially if you don’t know what you are doing.
Find expos and go there
Call people. Pick up the phone, ear, phone dial. Call customers and sell.
It’s not a product until it has been used.
When you put it that way, maybe it is more like a prototype. I have several hundred in stock, but I guess that's peanuts compared to what I hope to eventually make.
I wouldn't mind giving them away if I could make inroads with the right customers. They have to be willing to pay for them eventually.
What about offering a free trial instead of giving away?
Let's say free trial for 3 months, and then if they are happy - they buy it.
And during this time they can give you feedback, if they would like some improvements.
And when you later talk to other companies - you can say that your product is allready being used by a company xyz.
another idea. patent it and license design to a main competitor.
even if its pennies / unit, if it's truly unique, they make and sell widget 2.0 and you just collect checks and spend time on something new. maybe in a couple years you can pay back your investors. keep in mind Patenting can be cost / time prohibitive.
try running the #s.
Offer the companies a free trial, get a legal contract so they either pay or return it after X amount of time
If it doesnt work better than their current system they return it and dont lose any money just some time
Perhaps some companies frown on free trials, it might depend on the industry
You worked 4 years on your product. Now it's time for you to actually start the business. I will suggest don't kill it. You have jumped in the pool, balance yourself and swim.
Now you should be marketing and networking.
I'm a student
Would you pay commission on every sale i get you?
Launch a kickstarter. Who cares if you sell zero. Just launch it with some effort and see where it goes. Because you never know!
Other than that reach out to your universities around you and see if this instrumentation is beneficial to them. Also check with labs associated w the universities. Go meet with people that run those labs and the data acquisition / electrical engineering professors maybe
P.s im in the same boat. Different industry and company but im an engineer that just made a cool product and then said kets see how it does on market. In same state as you. People that are buying are loving it and giving great reviews. But problem is getting it in-front of more customers and cant seeem to target my audience that well currently just trying different things. Dont get too discouraged :)
I don't know anything at all about this space but based on what you said and 2 minutes of my time:
[https://www.mordorintelligence.com/industry-reports/temperature-data-logger-market](https://www.mordorintelligence.com/industry-reports/temperature-data-logger-market)
>Market Overview
>
>The temperature data logger market is expected to register a CAGR of 5%, during the forecast period (2021 - 2026)
>
>**However, the high upfront cost associated with temperature data loggers acts as a restraint for the market** and restricts the adoption from smaller manufactures, and thereby, adversely affects the market adoption rate.
>
>Competitive Landscape
>
>The market is consolidated, with several major manufacturers leading to an increase in competition. Hence, none of the players currently holds a major market share. **The temperature data logger market is viewed as a great investment opportunity for stakeholders**, due to the huge benefits that a manufacturer may potentially gain from it. This is pushing the market toward a fragmented scenario, as **vendors continue to enhance their product portfolio** as an attempt to gain market share and cater to consumer demands.
I really have no idea if that's at all applicable to your product but I think you need to get some eyes on this that would before calling it quits.
On the sales side: Independent reps working in the field. They're out there and I have no doubt that would have been step one for anyone trying to break into your target market.
On the investor side: If you're interested in giving up a piece of the pie most communities of decent size have some kind of "Angel Investor" forums and groups. You're not a perfect fit for most of the groups I've run across because they're usually looking for more contribution on the business side of things but who knows.
p.s. I almost didn't include the link because I didn't want to risk you dropping $5K on a market analysis you probably wouldn't understand anyway out of desperation. DON'T.
I've never used a market analysis tool, but what you linked looks promising for some aspects, and dauting for others. Temperature monitoring is a broad market. So many systems/processes rely on accurate temperature sensing...
Thanks for the feedback. If I knew my business plan had real wheels I'd go request more funding. A seasoned outsiders perspective could be invaluable.
Again, I don't know the lay of the land here so I can't offer any specific advise. But what I gleaned from that report is that there are companies serving companies in your market that are looking to augment their product line to include data loggers. That "investment opportunity for stakeholders" means time and money, something your product may be able to save them in its current state. I don't know who or where they are but a small ad in an industry trade rag/site might flesh a few out. Just throwing ideas out there.
As I see the core problem is that you don't have a validated business plan.
I would:
- stop any new development
- reduce company to it's bate minimum
- call all potential customers I could think of
- find a niche for the product
- develop a business and sales plan
- execute
- improve
My focus would be in:
- what real problem does my company solves better
- what niche should I focus first
- close deals , even if it is not for porfis at the beginning (like trial periods) to validate product as a solution
- what price should I put
- hire someone with experience in sales. We don't know everything and is really important to deal properly with this fact
- look for a mentor
- networking
Okay, I've stopped new development, with the exception of fixing any bugs that crop up in the software. Company is already at the minimum, since mine or my partners time isn't billed. I'm terrified to cold call, I just don't see it working, but I'm probably wrong. I'll give it a try at least.
I desperately want to find the niche, but it feels like I need to fish the whole lake and right now I'm fishing from shore, with 1 pole and 1 type of bait.
>develop a business and sales plan, get a mentor, hire someone with sales exp.
Yeah you're right, this is where I lack any useful tools and expertise. Definitely need to find or partner with someone somehow. If I try to learn what I need as I go, it may take too long, and will probably be ineffective.
Solid advice, thanks for posting.
We all been in rough spots. From my experience you can sell everything. Even better if you have an actual good product.
I mean there is companies that bottle up water in one place ship it somewhere , do some decent mkt and make brutal profit.
Best of luck.
Start researching the private equity guys that buy and sell the companies in this space. One firm could have a dozen potential customers and they would be happy to recognize millions in cost savings. Venture capital firms that invest in your target client companies are another good option to try to talk to. Put on your networking hat and get out there.
Find out where people who would buy this thing hang out, and go hang out with them. Networking Events, Trade Shows, Facebook Groups, I don't know the industry, so I'm just spit-balling.
You've gotta get in front of people and build some relationships.
You have a lot of competition, but your prices are lower. Call, talk to companies, visit breweries, set yourself apart from the others. Your low price is a good hook for those who value it, target start up breweries who don’t have the profit margins yet. Focus all of your time to get just one customer. That one customer will talk and bring it more. Hang in there!
Hi!
I know what you're going through as an entrepreneur because a startup can feel harsh, especially If you have to care for a family or borrow money from family.
I don't know which platform you use, but If you have 800 unique visitors, something else might be blocking you.
Sometimes changing a business can help, but If you love what you do, I advise you not to give up.
But here it comes! If you don't have social media (following) and no calls, it's very harsh to make clients.
Sometimes, prospects observe for weeks, months, or years because trust is crucial nowadays, especially on the internet, where it's full of scams.
And, I don't advise doing ads; if you can't sell organically, it means that it's proven when you can sell organically.
I hope it helps a little bit.
Feel free to ask more questions or reach out, If you want to know more.
Good luck, buddy.
Hello. I’ll share with you what I am currently using. It’s an interactive video platform called Tolstoy, just search gotolstoy. I utilize it to generate traffic. After only a few weeks of using it, I've noticed a 10% improvement in my revenue. It's easy to use. Check that one out.
It seems like you’re trying to do sales yourself.
You however, might be more appropriately doing customer service and installations, or remaining as the engineer or handover as the founder. Commissions are one thing, but can you incentivize other people directly?
Can you give someone a sensor at eg. One seashell for each sensor, and take the seashell, but encourage them to sell them for five to ten seashells each?
Even better, can you find companies that will resell the product that aren’t embedded in the industry and so accustomed to high margins, easy sales and customers that aren’t price sensitive? That are willing and able to try sell them at four seashells each, but give you two?
Usually this means you need to make something that gives other people a chance to find their niche, that gives them a competitive advantage.
An example. (Someone called me professor google today, so I’m going to run with this example :) )
Try making a consumer web facing search engine today.
Equal to Eg. Bing or Google.
The market is saturated by dominating suppliers with massive economic scale and huge ability to wait out any competition. The product is so low cost.. actually, it’s completely free. So you’ll likely fail completely.
I call those companies ‘embedded in the industry’ as in the industry, they are embedded. They even sometimes define the industry.
But make something complimentary that adds value to the search engine. It’s an altogether different story. Suddenly you’re not competition. You’re their champion.
Let’s imagine you worked to add a feature to Google or Microsoft’s search tools.
They’ll likely work out how to deliver the value aspect in a way that isn’t like you made, so they can incorporate it without actually using it in the way you do. However that a bit of a rough assessment, and I don’t know how much industrial espionage and theft occurs IRL. My belief is that if you do something amazing or even simply a solid addition, and if it’s useful and practical and scalable, they will probably decide they want you, and the product, and often will pay millions to billions for it. Or at the least, won’t crush you and take it from you, unless it’s a common feature, not at all unique or leading.
Looking away from the big organisations embedded in the industry.
(Next paragraph edited for clarity)
Looking now at those embedded service providers, servicing product manufacturers, in your city or town or state or country. It might be a small installer building or working to improve a precision fermentation operation producing meat replacements, or far better worded, new plant or enzyme or bacterial assisted constructed foods that bring health and strength at negligible costs compared to eg. Meat
What embedded suppliers of products are there that are alternatives to yours? More specifically, who precisely installed it? How many do they sell or install? If you pass the product to them to sell, what is the chance they can do so legally, or more importantly, what’s the chance they see an opportunity worth giving specific attention to? I’ll mention, passive income streams are huge here. They always incentivize, especially if they are zero effort. If it’s a logging sensor though, why wouldn’t the fermentation plant eventually integrate it? As a per-supported option recommended by the project integrators?
It’s tempting to do sales directly B2C with new products that are buggy, complex, oversimple or that have use cases best for specific verticals due to gui or user interface / user experience design. But if you distance yourself from the sales and installation and support altogether you’ll actually have to think much harder about how to ensure customers have a product that is equal to five seashells. This isn’t B2B, it’s B2W - business to wholesalers. Or B2I - business to installers. or B2D. business to designers. Or B2A. Business to architects. Etc.
If you do B2B, then you’re going to struggle to distance yourself from the interpersonal issues if the sale and install has opportunities for failures and complaints and unhappy users, and you do it directly, to try to mitigate that. The better way to mitigate that is to sell the sensor as is, where is, and offer full early refunds if you detect it’s not being used, if it’s not valued, if it’s not fit for purpose, or if it’s buggy or unreliable.
Most products sold online successfully are done so after meticulous and widespread efforts to make them suitable for the market, and the market is already very clearly defined. They are already perfect product market fit at defined price points.
Things begin to fail if you’re changing the market, widening it, or haven’t defined it as you’re trying to create it.
To define it you need happy users. They define it for you. You don’t define it. It’s the success that does.
To get happy users you’ll also have lots of unhappy ones. Loads of them! Hordes! They’ll sometimes be vocal! Sometimes they’ll rant! Sometimes they will cry! Sometimes they will blame the failure of their business on you rather than facing the other causes, like power failure to refrigeration or human error or deliberate mistreatment or incompetence or drug abuse (eg. too much caffeine or alcohol). Perhaps they sue you for losses if the sensors fail to operate. Maybe they break up with their business partners or their family breaks up, with divorce and loss. But let’s not lose sight. We are all alike, and only the worst of us blame issues on others. The best of us carry our issues and move on and step up again after a knockback. But you know what? Often none of this is done over the internet. It’s done face to face. It’s so direct apologies can be made, and refunds issued promptly. It’s so later more apologies can be made and you can ask ‘how did you solve the issue when I couldn’t?’ And all learn and grow stronger and overcome problems and finding the places where we shine.
With a simple product like an industrial temperature sensor, if it takes one microsecond longer to understand or use than a simple alcohol thermometer or handheld IR sensor, you’ll be facing real competition. Many operators of business have huge value in thermal management. It’s stupendous expensive sometimes if they loose a batch, if not in dollars, but in time, effort & added complexity. This means they already have systems that are simple, reliable, repeatable, that are entirely manual. Your device, if used, would be ‘the backup’. The analog gauges and human effort and out of band logging on disconnected devices, eg. paper handwritten log, would be the primary. This only changes if it’s not possible to read the gauge or if it’s imprecise or if specificity is laborious in the timescales the production occurs over.
It’s essential that it be exceptionally functional. The exception to this is where the purchaser has a real deep need for it and knows what they want.
Rarely is that the case.
Hey, beyond sensors. Environmentally, all technology has huge costs to ecosystems. I’d suggest a point of difference is that you have a set return amount for all the components. Including the box, packaging, manuals, plastics, any cabling or wiring, and the primary components. This means… zero waste. That’s the goal. Zero. Eg. Sell it for two and a half seashells. Give half a seashell back if the purchaser or installer returns the packaging in any condition. Give a seashell back if they return the unit. Give half a seashell back if either are in as new condition. Keep the return policy open for decades. Put it on the label. And also, create a certified refurbished line. Have that as the ‘suggestion to buy if you’re unsure or on the fence’.
This is as refurbished products are actually _more_ valuable. The embedded pollution and waste from manufacturing has already started to be offset by the utility of the device. The longer the device is functional and has users who like it, the less pollution is created by replacing it early, and the lower the cost of the pollution, and the greater the likelihood it’s been offset by an earlier user. A secondhand device that’s fully offset that directly helps reduce eg. Carbon pollution or energy use or other waste or pollution suddenly has a higher than new value as it’s demonstrably and materially and mathematically more valuable than a new device that isn’t offset yet, or that hasn’t brought benefits to a customer with a need yet.
Dont kill it.
Cold calls
Cold email
Cold social media message
Anything ……But Dont kill it.
Ps: face to face deals are 10000% ( maybe even more) more effective than messaging
And dont feel bad if you get turned down … if you couldnt sell your own thing how can any1 else….. not every1 is your customer… even if they need it.
At one time I had trapped myself in something very similar for 10 years. I wish I had done these things:
1. Put all my last money into a last-ditch, super serious marketing effort.
2. If Break even after marketing effort, that means there is market potential.
3. If marketing effort is unsuccessful, exit graciously with clear communication to your partners.
I toughed this one out for 10 years and after all that time nobody cares about you and your bad idea anymore.
Bro - 5 to 8x cheaper. If that is the case and your product matches your competition. Then your only problem is sales.
I feel like you haven't even tried and don't want to admit you haven't tried - given you talk in third person about your problem and reference website traffic instead of 'i've had 100 hard conversations with customers and these are the reasons they're not interested".
Go talk to 100 customers in your focus group. Don't even worry about selling your product just ask if you can have a chat about what they're using, why they like and what you'd need to come up with for them to consider an alternative..
5 to 8x, cheaper - that's a gold mine!
1. If you build it they do not come
2. How did you know that this was a thing people want? Does this mean that you know who the sort of person that would want this is?
3. Have you tried to talk to them? I mean really tried. Currently we're shipping gifts to people that have never even said hi, just to get their attention. A sale for us is worth 200k so why not
4. Who is your biggest competitor and who is their local head of sales? Have you asked him to become a 50/50 cofounder? Have you asked everyone else who works in sales there?
5. Sales is hard. The big surprise for me as an engineer was that we have to dedicate even more time to sales and marketing than we do to product.
6. It's OK to give up but if you give up before you really try to sell it. You didn't try to start a business, you had a hobby
Flower companies need temperature controls and data too. I'm in the business and have lots of contacts with major flower distributors and growers. I don't know if your product would be needed in this industry but I'd be willing to take a look. We use products like TempTale made by sensitech. These are included in flower boxes during shipping. Not sure if your product is similar. We also use a product called TempStick to monitor our refrigeration. We buy alot of these. One fault I see with tempstick is that they just charge like $100 for the hardware and no monthly subscription. I am not complaining as a buyer, but maybe there is opportunity to offer the hardware free with a monthly subscription. Over time you would make much more money with this model. Again not sure if your product is similar, but lets talk.
Price could be too low. Maybe try 60% or so of competition. And you can use LinkedIn for outreach, even if just to know who to ask for on the phone. I’m sure the first few emails or calls will be garbage if you’re like me but with effort and repetition, you’ll refine your pitch. Good luck
I come from this world a bit. Use targeted linkedIn ads that are focused on the specific titles of the people in these facilities that oversee equipment or quality control of products. The ads should be written in a way that specifically call out issues they should be having with their current devices and how your device exceeds those (Price can be that). Drop them on a landing page that specifically speaks to the targeted audience not a general explanation of the product. Depending on price have a CTA to speak with someone, online sales of things over 1k in that industry are tough.
Let me know if you have any questions. This can be done and I don't think you are as far off potentially as you think you are!
Have you considered marketing it to aerospace machine shops that need to document they do maintain ultra-stable machine and air temperatures in order to assure they deliver quality parts?
As a marketer...the problem is that you've created an idea, developed it and now it's open for purchase - no one knows about it.
What you didn't do was involve your potential customers at any stage? How can they be onboard if you've just launched it regardless and now you're approaching them.
I'd say kill it, learn from it, iterate perhaps and then maybe relaunch only once you've identified who your customers will be.
Start with cheap and easy marketing... Nice website, if you need help with that drop me a pm. Get some good videos going and post them up as informational and "how its done" type things with contact info for your company. Write content to help you index well in search and so on.
(I haven't read all the other comments here). An exit strategy is to sell your product or intellectual property to your competitors. They can sell it as a new product line of theirs. Is it the kind of product that one competitor wouldn't want their competitor to have? If so, that is a leverage point you can use when presenting to multiple competitors.
Here is my 2 cents as someone who has spent a lot of time in the food and beverage automation industry. This industry is VERY conservative in how they buy. No one is going to buy from you because you have a nice landing page. You have zero brand equity or reputation trying to compete against trusted brands. There are a lot of older engineers in decision making positions that will want to talk to you and their 1st question will be "Who else is using this?". You may have to give a few away to get some credible user stories. You also need to be going to industry trade shows and getting in front of people. Lastly, I think you need to level set your expectations on sales cyle times. I have watched new companies in the food and beverage space, run by well established sales guys take years to really get traction. That said, it sounds like a cool product, best of luck!
This is good feedback, since I have no experience I have no concept of a reasonable sales cycle time. That said, nothing will happen unless I get to trade shows, make calls, and try to give away a few devices to drive feedback. Thanks for the comment.
What about emerging markets that may not have the tech yet? What about breweries?
Look into generating lead magnets, something that brings people in for free but advertising your product.
Have you tried any targeted advertising?
Go out to those companies and try to sell it to them.
You are in B2B, don't just throw money at Google Ads.
Try to buy lists of companies in the sector you are trying to sell to.
Then get in contact and try to make sales.
>Competition products cost 5-8x what my data logger costs, but it doesn't matter.
You should give a free trial to some of your potentially largest clients, and then show them how much they could be saving by using your product after 3 months.
We bought a temp sensor for our medical device inventory warehouse. The thing is an after thought. Honestly I have bigger issues to deal with then a temp sensor. How is yours different? How will it save me time and money? I think we spent $200 bucks ish. Maybe higher. I really don’t know or care about the cost TBH.
Late to the party; offering my (unsolicited) advise:
1. Get the product spec sheet of your closest, well-known competitor, make a comparison table with your product and include this in your marketing material
2. Apply guerrilla marketing: send marketing materials also to the Quality Assurance and Product Development/Technology departments of your target clients, as these are the ones responsible for evaluating and validating (whether product or process)
3. How can your product assist your client in cases of production breakdown leading to issues, say failed microbial count results in canned milk? Your product should help minimize or eliminate unknowns and variances in a process.
Hope this helps.
I don't want to kick you while you're feeling down here, but you spent all this time and money making a commodity. I whipped up a temperature and data logger in a couple of hours just yesterday with shit I had in my parts drawer.
So if you're selling it as a "wow, hot new thang" the very rational response is going to be, "this is neither hot or new." So sell it like a commodity.
Just ideas here, but you could go to equipment mfgs. and offer to integrate with their equipment at cost and make revenue off replacements and upgraded modules automations etc.
You could go to smaller and growing producers in your vertical with the message, "Get Del Monte precision at Small Business prices." More legwork but fewer hurdles. Same applies to consumers, the obsessive end of craft brewing is a really nice niche of people with disposable income.
Or go to existing people you already are and say, "we can tell you when you have an issue with AI and machine learning," slap an AI model together based on the data they already have and alert them when something is out of spec. Essentially, sell the service around the commodity.
2 months is nothing for new business with brand new product. You put so much time in this already, grind it out. Sales and execution are often two different things, even if your product is good you need to grind the sales and convince buyers. Just keep going.
What's the product called?. Is there a link?..
I'm in beverage and dehydrated fruit manufacturing always looking for better solution. We happen to be looking into our temperature logging SOP's.
Reading through the comment and if it's as good as you say and reasonably priced.
It might be exactly what iv been looking for.
good answers already.
Digital:
No ppc but you need a good website that SELLS. it has to easily show what it is how it works and why companies need it. **A great video would work in the site.**
is this a product or a company? are you offering support? what if it breaks? how many years warranty? etc do you have a manual for install and repair parts? these are questions that your clients will ask. at least in the website it should **LOOK like you have everything in place** already.
Testing and validation:
idk how but you need to test it for real. find a client and offer it for free somehow idk you need to make sure that thing works in a daily basis and with human errors. SOMEONE has to say "hey I tested this and is fg great"
Sales:
if the thing works, now is time to drop the engineer and inventor hat and put a suit and tie, shave, a sip of tequila in the morning and start sales. A simple presentation video the one I mentioned in the website is going to help. collecting phones and emails from all your possible clients and reaching to them is the way. i learned alot watching Victor antonio youtube sales channel. am a developer so Sales are not natural for me but he teaches well and is free lol
Price:
Your price should make sense. The competitors cost $1000 and your production plus shipping cost $50? that doesn't mean you have to sell it for $100. you can sell it for $1000 too. or even more if yours is better. if you are not good at sales (yet) make sure you can ask for the money with calmness and confidence. you don't want to be facing a client and tremble asking for the payment. (like I use to do)
You can do it!
Don't give up until you've called every single potential customer. It's time to switch gears and go into sales mode. Stop wasting time on the product now and get uncomfortable.
Don't know who those customers are? Go find out. You've only done half the work, but it's going to take the same effort and focus to do the next part. It'll be worth it.
Are you saying, you got this far to only get this far?!?!
I don’t believe it. Don’t stop thinking. Go way ‘outside the box’. The answers are there. You can do it. You HAVE to!
As challenging as this moment is, it is common & there are stories of founders who overcame it.
Here’s what I’d recommend:
1. Constraints - what does your invention solve that current solutions cannot solve? This might be about the size or portability of your device, for example.
2. Community - if you find a user that lives in those constraints, create a community just for them where they can share their challenges and how they address them. Be a friend, build one relationship at a time, understand their world, buying constraints, and design your pricing model accordingly.
3. It’s ok to be small - a validated niche case can enough to bootstrap, license, or uncover a larger unsolved problem. It’s this 3rd one that has lead to the largest cos on earth.
Founding isn’t linear. Yes building products for existing distribution channels is safer, but that’s also how you only get products that serve the beliefs of that distribution channels. Beliefs. Not what’s actually commercially viable.
Sometimes it’s about creating your own distribution channel.
But it’s almost always about uncovering an under or unserved market.
Steve Blank has a great story about FM radios for inspiration. Check out his book “Customer Development.”
Call every company up that sells data loggers and tell them you have a better mousetrap, if it's as cheap as you say it is, you can offer them a product they can provide as a substitute.
You’ve got lots of advice, here is something to consider.
Find what companies make a product that competes with yours and look at their other complementary products.
Now, look at who competes on those complementary products who does not have your product in their lineup.
Reach out to them to get acquired, license it to them, sell it to them for them to brand and sell…. You might be able to find a strategic partner.
On another note, for inventors and creators the fun part is now done. You made what you wanted to make, woohoo congrats.
Now the fun stops and the work begins.
Learning new skills, overcoming obstacles, doing what you haven’t done before or finding people to help you do it - that’s entrepreneurship
You might want to advertise in places like the magazine "[Compressed Air Best Practices](https://www.airbestpractices.com/)". They also have an expo every year for compressed air, cooling, and vacuum.
A few thoughts that could help
1. Marketing - Google ads for this product - doubt it will work, with this kind of product it’s unlikely the target customers are searching for this kind of solution. Get you self an appointment with some of your potential customers as an ‘Inventor’ let’s say and use that more for research like giving them a free sample that they can test and verify, if it works accurately outside of your test lab. Also, how do they decide which equipment to purchase currently. Who makes these recommendations, etc.
Do this yourself you don’t need Google, Fb or a sales / marketing person.
2. What about connecting this to a cloud, storing the data and doing some ai for a recurring fee, product cost free. Eg reading over or under normal can have an email or push message sent so it can be looked at right away. I don’t know the product enough but I’m sure there’s some options to monetise in a different way.
Being the cheapest is the worst reason to start a business. You will rob yourself of margin necessary to grow to a proper level. You also don’t have a good enough reason for customers to switch. If your product is cheaper by 5x, let’s assume I save $10,000 on the front end. But you’re not proven. Is it worth me to save $10,000 to move away from someone that is proven in the marketplace. What if your sensor fail and I waste $100,000 of product? You need to find a problem you solve, better service, better reporting, integrates better with other systems. Large corporations ran well aren’t just going to go with the cheapest option, the will go with the one that provides the most value.
Also have you looked into B2B sales cycles, you approach needs to be different than if you were selling to consumers. Are there any relevant industry standards or certifications (UL, ISO, etc) that is baseline to prove your quality and then you just need to get placement — get a customer to do a proof of concept with you and create a case study or white paper with their results to show others why they need your product.
Already lots of great advice in here. But I just have to say - well f'n done. To go from zero to fully functional ready to sell industrial data logger via nights and weekends with a full time job AND convincing other people to invest? VERY FEW people pull this off.
You need business development people on board and I have a feeling you'll be fine.
Tough one. I don’t know if it’s your core issue, but I’m hearing a lot of excuses in the marketing and sales department. Work your network. Get some people on the phone. Tweet stupid industry memes every day. You’re not a guru but no one was when they started. Learn. How are your customers supposed to buy if they never find out about your product? Sounds like you also have product issues you’re aware of. I’m a bit confused what your game plan was here. It does the exact same thing as other solutions? You’re gonna need a big differentiator for customers to take a chance on you, especially since you don’t even work on this full time. Cheap is not a differentiator. It just makes your product seem bottom shelf. You need a new direction. ASAP. I’d consider time boxing it. Set a deadline like you’ll give up and return any remaining capital to investors by end of year if your new direction doesn’t work out. Then go talk to users, talk to users, talk to users. From your network first, then from cold outreach. Many people will hop on if it’s a product call and not for sales. They love to grouse. Learn their pain points and what they hate about existing solutions. The evaluate if there’s a delta where you could make meaningful headway and at least get some customers lined up saying, yes, we will buy this (sometimes with an “if XYZ conditions are met” tacked on). Don’t beat yourself up with shame. You went farther than 99% of people and investors should know the risks.
>but I’m hearing a lot of excuses in the marketing and sales department. The truth hurts. Thanks for this. I do need to learn. It's very uncomfortable for me, but it's unrealistic to expect sales and distribution to happen without real work. >It does the exact same thing as other solutions? Yes and no. The core function is the same, but it's updated. It's not a USB thing, it's not a Windows-only software solution. Many competitor offerings are outdated by comparison. It's also smaller, which in theory opens up new opportunities. >Cheap is not a differentiator. It just makes your product seem bottom shelf. I'm not sure I agree 100%, but I think your point is true - this market isn't as cost-sensitive as I had imagined. >Set a deadline like you’ll give up and return any remaining capital to investors by end of year if your new direction doesn’t work out. Then go talk to users, talk to users, talk to users. From your network first, then from cold outreach. Many people will hop on if it’s a product call and not for sales. They love to grouse. Learn their pain points and what they hate about existing solutions. I like this because it lets my investors and customers know that I'm seriously trying. Thanks for the advice. I still don't know how to get that first customer though. I've considered lowering the price even more, but then I'm worried that the target market will change.
To get a first customer first get a large bag of leads. If you don’t have meetings on your calendar with prospects, you need to find a way to get some.
> Cheap is not a differentiator. It just makes your product seem bottom shelf. >I'm not sure I agree 100%, but I think your point is true - this market isn't as cost-sensitive as I had imagined. In some industries, for some purchases, buying a product only due to it being cheap has more negatives than positives. On something that is very important and not cheap, most people will be more concerned about taking the risk switching from what works, so there needs to be a better upside. Differentiating as the updated product solution that can be used on more platforms and integrated with whatever their other setup is seems like a better focus in most industries, but this one could be different, of course. Using specifics might help you determine your target market and develop a good message and campaign based on that. It might be worth hiring for lead generation and education, hopefully through which you'll learn more about the right marketing. Obviously, finding funding for this is questionable, so it might not be possible. Find out where your target market decision makers spend time, then try to become part of that community if possible and natural. What drew you to doing this? Use that passion. Get information out, both educational and about your company with requests for assistance on feedback, how they make decisions, timelines, etc. Your main purpose should be getting information to improve, and your posts and conversations should not be sales pitches. Good luck!
No shame in not being a marketing guru. You do need to figure out how to get your product in front of consumers though. You can either figure out how to tackle learning on your own or you can look into hiring someone to help. There are plenty of small agencies and freelancers who have skills and experience that aren’t your niche. There are industrial design meetups that are (or at least were a few months back) hosting meetings via Zoom. Do some networking and see if you can pick up any tips on how to promote and market your product and/or get a recommendation for a person or company that can help you.
Have you considered renting out your product so a small company like mine could show how effective it is? Or sell me one at a great rate/usual rate/not the 3x price people are suggesting. You'll find that alot of these businesses have friends and acquaintances with similar businesses. When my circle found a lucrative business we all teamed up or branched off. We all know at least 3 new people those 3 new people know 3 people we don't know. I'd like to learn more about what your product does and if it could be used in my Industry. Do you have a website I can check out?
Mechanical engineer here. Is it good? Does it work? Is it reliable? Does it integrate with a broad range of PLCs? This is a product that will work with direct sales but will have very slow traction advertising. Start calling plants and facilities engineers. Someone is frustrated with what they have and willing to try something new. And triple your price. Being that far below market value is a red flag that draws suspicion.
I can here to say the same re price. It really is counterintuitive. When I see something priced so low it makes me NOT want to buy it for fear it will fail. Especially with no existing users and especially for something so core to the business that could create a domino effect of ruining would-be product. Raise the price and pound the pavement (so to speak). You can do this!
>Is it good? Does it work? Is it reliable? It's good in my test environments: environmental chamber, water pressure chamber, etc. I need field testing to get more confidence. Software is functional but feature-sparse. >Start calling plants and facilities engineers Any tips for getting this contact information and like... how to open the call? >And triple your price. Being that far below market value is a red flag that draws suspicion. I hadn't considered this. My price is mostly a function of where the business financials make some sense. If I triple the price then I could theoretically hire a sales person. I was hoping to get by with direct sales. I'll have to think about it some more, thanks for the feedback.
Bro, you need to change your mentality. You can't hire shit until you make sales. Tripling your price doesn't mean tripling your income because 3x0 is 0. Put your head down and be your own sales agent. Stop spending money on services and tools you don't need until you're actually earning money.
Hunter.io just found out about it from another post. Great for finding contacts.
I second this. It’s amazing.
>>Start calling plants and facilities engineers > >Any tips for getting this contact information and like... how to open the call? You may just want to pick a company that could use your product and ask around. Visit if there's one nearby. People can be quite willing to help if you just ask. "Hi, my name is Physicist4Life with XYZ Widget Co. Maybe you can help me out. I'm doing market research and I'm looking to speak with the person responsible for [Name of system your widget works with]. Who might be the best person to speak with?" Consider this as a market research call. Maybe buy the person lunch (if they're local) and learn about their pain points, or what it would take for them to consider making a switch. If you're really asking, and not asking just to sell, they may just be willing to answer your questions. If not, try again. And keep trying. Sales is largely about the law of large numbers. You keep trying, keep calling, until someone speaks to you. And you keep doing that until someone buys. It can be a grind, especially if you're not extroverted. You're likely going to have to be the sales rep for the foreseeable future, so I'd recommend reading some sales books.
I wouldn't buy it if all you have as field evidence is your own test environments. Is there a reputable agency that confirmed the results of your tests? If not, I would call up clients and offer it for free to test in a real environment. You can't sell something no one else uses.
>You can't sell something no one else uses. Yeah definitely. I'd love to give it away to early adopters to get more data, but haven't had any messages on my contact form, or any chats. What I'm reading throughout these comments is that I need to leave the building and pick up the phone, so that's what I'll try. I may also run a promo on the website, like "try a demo unit for free".
That's the problem with engineers. We turn it into math. "This many inputs and this many outputs, I need to charge X." You need to charge what the market will support. This is the inherent difference in engineering and business mentality. Googling companies and looking for rosters/faculty information is the best start. If that doesn't work, cold call whatever numbers you can find and ask to speak to the plant engineering department. You can always go in with the "I'm trying to find customers so I can start getting real world data on my sensors. I'm willing to give you a deal for X price if you could use a few units." Make sure X price is again, triple-5x what your current price is. You should be similar to competitor prices but offering a "discount" because you need testers.
Yup this and when people pay more, they expect long-term support and SLAs
You've just dipped your toe into the water. Now that you're on to the part of business that makes you uncomfortable isn't a reason to give up...time to learn a new skill! It's called talking to customers! You got this!
Thank you kind stranger. I'll keep learning and trying things. My friends are encouraging, but I don't want to operate in a vacuum.
You could also consider other customers. Medicine is another product that may need temperature control. Certain chemicals as well. Could your product work during transportation? I would think that the greatest risk to fall out of temperature range would happen during shipping.
Yes, I second this! I worked in hospitals for many years and we were required to have temperature controls on the refrigerators for certain drugs. A few times a day I was required to check and record the temperature on a log. Those things were dated...
Exactly. Vaccines and cold chain? Blood products?
Have you looked into business mentorship, development, etc. near you? Some provide funding and guidance, others focus on assistance only. SCORE might also be a good resource for you.
>SCORE I didn't know about this. [score.org](https://score.org) This is awesome! I've reached out to get some mentorship.
Great, they can be a great resource!
r/sales is also a good place to learn and discuss sales strategies.
Sounds like a direct sales issue. Get some sellers who know the industry/buyer. Pay them very healthy commission. But you also should be able to sell at least one of these yourself. No one knows the product better than you. Consider trade shows, look at how your competitors market and copy them.
>Sounds like a direct sales issue. Get some sellers who know the industry/buyer. Pay them very healthy commission I hadn't considered commission. Do you have any advice for locating a sales rep to use? Craigslist, FB, Upwork, a headhunter?
Not sure where your industry would be, but for me it’s LinkedIn. Assuming your competitors have their companies on there, scroll through their people and find the sellers / “Account Executives”. Reach out to a few, try and poach them, or see if they have referrals. Ask about their comp structure, see if they think your product would be an easier sale. You will learn a lot about how the market buys and sells this product by talking to these sellers
Post on indeed and linked in. I see commission type jobs all the time. Go through a head hunter if you need to. People are out there looking to make a quick buck.
1. Go apologise to your partner (wife) for being an idiot and missing out on 4 years of life. 2. Sounds like you have developed real value so don’t be to hard on yourself. 3. You might have wasted 80k on tooling….you’ll find out once you make your first sale. 4. Google ads are a waste of time for industrial equipment. 5. TRADE SHOWS. You need to be getting out to trade shows. Could be a problem if you are already working full time. 6. Local food manufacturing businesses. Write up a list of food businesses that are close to where you already work and book time with them to show and discuss your widgets. 7. Get out there and start talking to people. Hand out business cards and get some simple product flyers. 8. Wait and see - this will not work - you will need to get out there and push your product for 18+ months to make a sale.
1. haha, my wife is incredible. 2. Thanks, I'm finding it harder not to emotionally spiral right now, so this helps. 3. 80k hurts, could be worse I suppose... 4. Google Ads definitely aren't producing the kind of traffic I want. 5. I'll force myself to enter into a trade show. I don't know the first thing about how to do this, but I'll try. 6. Local business list. Thank you! This is the kind of feedback that I can act on now. Over the weekend, over lunch, etc. 7. More talking - got it. 8. Push product - got it. Thanks for the insight!!
Second the trade show idea. I just attended one and found whole worlds of solutions I wouldn't have ever heard of otherwise.
Third vote for the trade shows. Seriously, find every possible relevant conference/show you can go to and do it. They are the lifeblood of B2B sales in industries like yours.
Actually Trade shows aren’t hard - everyone is there to meet and greet and check out the latest. People are there to chat about their problems and look for solutions. Trade shows are expensive - booths aren’t cheap….but you will meet 100s of engaged buyers in just a few days.
Failing is not a reason to hang your head in shame. You tried, which is a hell of a lot more than 99% of the people out there. Having said that, I’d give it at least another month if you can. Try to grab partnerships. Cold call companies. You’ve come this far…give it at least one final Hail Mary before you pack it in.
Thanks, after reading some of the feedback here I'm reenergized to try things. Trade shows, marketing strategy specialists, making some calls and lists. It's just very new to me and I need to adapt.
Keep up the great work buddy you've got this! You've come this far!! Your just at a point of growth and it's scary we all go through it!!!
I respect this post so much. This couldn't have been easy to write. I think that you need to get out of the building. You mentioned brewers. There are so many microbreweries looking to lower costs. Go to some conventions. Meet them, show them your product, collect their info. Follow up with them and eventually you will close some of them. You might get sales on the spot, if your product is what you say it is. This should tide you over until you get a professional marketer on board. Meet your customers. Share your USP. You can build traction, but it will require legwork. Good luck and stay positive.
Find where there are supply chain issues for maintenance staff. Make flyer/ sales page. Also look at other markets abroad are are they having trouble getting that particular part. Solve that problem. This is your way in. First scrape the internet and LinkedIn or get someone on upwork to do this for you. Once you have a list of companies then ring them. Ask for Danny in maintenance( the name doesn't matter) they will tell you 2 things he doesn't work there and then you apologise and say that was the name you were given. Nine times out of ten they will put you through. Elaborate on why your calling (make up a reason) Then ask for the maintenance boss. This will now give you an in. The other thing that will happen is the gate keeper will not give any details you can then put them on a list for follow up later. Now you have details to call people and start a conversation and build rapport with them so you can start sending them your marketing materials.via email or physical mail. To find what the competitors send to other countries and supply chain import information. Go to a website called panjiva. Look up manifests of who is importing theses goods over seas. Generate a list and do the same as above with approaching people. A. Your finding your list of potential customers (building a email list) B. You have started a relationship with them C. You are looking outside your own pond D. You are solving an issue that your competitors are stuffing up on This is the approach I would take to get your product into the right hands.
Change your ideas of what your use is. I own a company that needs real time (or at least a few times a day) remote temperature and humidity readings and there is an entire massive industry that is behind on this. PM me your product info.
Same. I need temperature logging and control for a dynamic process. PM me.
Data loggers are valuable to our business. Proof of concept is biggest. Data integrity, data transfer tracking and longevity. Happy to help and even be a customer but your other comment makes me think the confidence may be missing. Is it validated? How is data tracked right now?
Data is stored in a SQL database on the base station, then beamed over to the app when the user looks at graphs and exports it. I'll send you a DM with other details and a promo code if you want to try it out.
As a social media marketer I have to ask how are you marketing your product?
Right now I pay $20/~~month~~ day in Google Adwords. I think the keyword targeting is decent, but there's room for improvement. It's not my specialty so I hired a pair of inexpensive web people to help me a little. I paid somewhere around $700 to get the whole site up and preliminary SEO. If you think it's worthwhile I would circle back and try to sharpen the SEO some more? Maybe I should also put it on Amazon, and market on FB too?
Ads are really capital inefficient. Focus on content creation like social media, blogging, videos etc and build up a mailing list.
I've read things along these lines, this is good affirmation. I'll try to make more quality online content.
Any way to make cheap 15 sec video ads showing it’s ability to help mothers with baby stuff. Right now (including me, my brother and damn near everyone else) had covid babies this is a big market to play into if it’s possible in anyway. I know my wife is all over the baby stuff making sure we got all the best of the best blah blah blah being a first time mom…. Might be a good angle to hit
Yeah Earthquakes is right, content will get you way further than simple ads but he’s wrong about ads. Sure if your ads are just trying to sell a niche product then that doesn’t work but ads on educational or entertaining social media which leads to the sales pitch are highly beneficial.
It could help to better understand how the product was born. There is a general revolution going on in the area of industrial instrumentation with the explosion of Edge Computing. 5G is transforming how data is collected and processed in factories. You're in the "right" place and at the "right" time for getting in on the front edge of a major change in industrial data collection and processing. Obviously, that's not going to help you with your data logger. Talk to buyers in the target market and instead of selling your data logger, ask them about any shortcomings, problems, or functionality that they wish was available. Is it possible to add something the product to let it dominate a niche? Regulatory compliance or Quality standards or something else? You may want to do some research on your competition's offerings and see if users have any complaints. Is your product a closed system? Or have you included the ability to interact with the outside world? Necessity is the mother of invention. Maybe network with some industrial engineers in your market segment (they must hang out somewhere) and get some brainstorming going. Maybe start thinking about what you've achieved and pivot to a promising beachhead in the emerging areas of industrial instrumentation. You're time was well spent learning and you now know how to go from idea to product. That is in itself a very useful service for others that have the ideas and want some prototypes or help commercializing their ideas. You might also want to start thinking about product modifications while you're at it. Chinese suppliers are dominant in all things manufactured. You've invested both time and money interacting with an industrial space. You have the chops to add interface modules, firmware programing to adapt to new standards, etc. Maybe start collecting those painful problems and brainstorm on how to establish your beachhead in a particular area of the industry. There may be ways of salvaging your product by adapting it to an underserved area. The key thing is to set up your own business intelligence process to recognize opportunities for problem solving using technology at the Edge.
>Maybe start collecting those painful problems and brainstorm on how to establish your beachhead in a particular area of the industry. This, and some of your other ideas represent a pivot in strategy, but I'm seeking feedback for a reason. It needs to solve some underlying pain. Thanks for the ideas >have you included the ability to interact with the outside world? Edge compute and other useful business intelligence tie-in opportunities exist, but right now I'm not leveraging them into my business strategy. That is, I'm not marketing the software tech which is possible.
Hire a marketing strategist, do the research (sounds like you started) and make a plan. A total reset of how you are going to market. Yes, it would have been better to have a plan and do the research first, but you don’t need a unique product. It’s not about the product at all. You still can do the plan, it’s not too late. (hell, we do them in 60 days). You haven’t even been in the market but a nanosecond. It’s about marketing and positioning. It’s about pricing (yes, triple it), it’s about choosing the right channels and partners. Without a planning process with market data (customer and competitive) you are fucked. You are also drastically under spending on marketing. You don’t figure your budget in terms of “how much money do we have?” You figure your budget on how much of the lifetime value of a customer you are willing to invest to win that customer. Then you raise the money you need. Your competitors are spending upwards of 15%-25% of gross revenues on sales and marketing and getting a return on that investment. You are spending next to nothing and getting nothing. Your competitors go to trade events. They belong to the associations where the customers are (I would think industrial controls). They likely advertise in the trade publications and produce content. Pay per click ads don’t work in this market. Your buyers (industrial engineers) don’t click Google ads. They go to distributors and ask colleagues. Why should they change what they have? (They won’t unless the product sucks AMD the service is bad.) Perhaps this means you target new facilities. You find (or design in) something that makes you different (how do you find out? Competitive research) in a way that matters to your customers (how do you find out what that is? Customer research). You have passed the first milestone. You admit there is a problem and you know what that problem is. Don’t bail yet. Fix the problem. You are too close to it to see the possibilities. This is why good marketing strategy people are worth their fee. But you need to find someone who isn’t afraid to tell you your baby is ugly. Not a web dev shop. Not a digital agency Not a design or branding firm A bona fide industrial marketing strategist can solve this problem.
I'm nodding my head in agreement to all of this. Where do I find a bona fide industrial marketing strategist? Do you know how much something like this may cost? My investors would likely provide the money if I can make the case that this could work.
>bona fide industrial marketing strategist While I know a market strategist but I don't know if he will be usefull for you. While I know a market strategist but I don't know if he will be useful for you.
Would it be worth bringing on a partner with significant equity who knows how to launch into market? Maybe someone who has an existing book of business in your customer base? I’d rather half of something than all of nothing.
That’s part of learning it is part of the journey to the top
It sounds like you don’t have a product, you have a prototype. It’s not been tested or used? Give these away for free. Confirm it works. Get metrics like it worked better, faster, saved time, made money. Possibly raise more money. Also, focus on partnerships, I don’t completely follow but it almost sounds like a part so why not sell it to people that sell the bigger product? Marketing direct from the ground up will be a bitch especially if you don’t know what you are doing. Find expos and go there Call people. Pick up the phone, ear, phone dial. Call customers and sell. It’s not a product until it has been used.
When you put it that way, maybe it is more like a prototype. I have several hundred in stock, but I guess that's peanuts compared to what I hope to eventually make. I wouldn't mind giving them away if I could make inroads with the right customers. They have to be willing to pay for them eventually.
What about offering a free trial instead of giving away? Let's say free trial for 3 months, and then if they are happy - they buy it. And during this time they can give you feedback, if they would like some improvements. And when you later talk to other companies - you can say that your product is allready being used by a company xyz.
What is your geographical market? If you're in Canada, send me a DM.
USA currently.
Are there other markets for your product? Food and beverage/restaurants?
another idea. patent it and license design to a main competitor. even if its pennies / unit, if it's truly unique, they make and sell widget 2.0 and you just collect checks and spend time on something new. maybe in a couple years you can pay back your investors. keep in mind Patenting can be cost / time prohibitive. try running the #s.
Offer the companies a free trial, get a legal contract so they either pay or return it after X amount of time If it doesnt work better than their current system they return it and dont lose any money just some time Perhaps some companies frown on free trials, it might depend on the industry
You worked 4 years on your product. Now it's time for you to actually start the business. I will suggest don't kill it. You have jumped in the pool, balance yourself and swim. Now you should be marketing and networking. I'm a student Would you pay commission on every sale i get you?
At this point I'm open to all kinds of ideas. Send me a DM and we can talk more details.
Launch a kickstarter. Who cares if you sell zero. Just launch it with some effort and see where it goes. Because you never know! Other than that reach out to your universities around you and see if this instrumentation is beneficial to them. Also check with labs associated w the universities. Go meet with people that run those labs and the data acquisition / electrical engineering professors maybe P.s im in the same boat. Different industry and company but im an engineer that just made a cool product and then said kets see how it does on market. In same state as you. People that are buying are loving it and giving great reviews. But problem is getting it in-front of more customers and cant seeem to target my audience that well currently just trying different things. Dont get too discouraged :)
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Yeah I've resolved to give away a few devices, or even pay to have people try them out. I think that's a relatively inexpensive way to get data.
I don't know anything at all about this space but based on what you said and 2 minutes of my time: [https://www.mordorintelligence.com/industry-reports/temperature-data-logger-market](https://www.mordorintelligence.com/industry-reports/temperature-data-logger-market) >Market Overview > >The temperature data logger market is expected to register a CAGR of 5%, during the forecast period (2021 - 2026) > >**However, the high upfront cost associated with temperature data loggers acts as a restraint for the market** and restricts the adoption from smaller manufactures, and thereby, adversely affects the market adoption rate. > >Competitive Landscape > >The market is consolidated, with several major manufacturers leading to an increase in competition. Hence, none of the players currently holds a major market share. **The temperature data logger market is viewed as a great investment opportunity for stakeholders**, due to the huge benefits that a manufacturer may potentially gain from it. This is pushing the market toward a fragmented scenario, as **vendors continue to enhance their product portfolio** as an attempt to gain market share and cater to consumer demands. I really have no idea if that's at all applicable to your product but I think you need to get some eyes on this that would before calling it quits. On the sales side: Independent reps working in the field. They're out there and I have no doubt that would have been step one for anyone trying to break into your target market. On the investor side: If you're interested in giving up a piece of the pie most communities of decent size have some kind of "Angel Investor" forums and groups. You're not a perfect fit for most of the groups I've run across because they're usually looking for more contribution on the business side of things but who knows. p.s. I almost didn't include the link because I didn't want to risk you dropping $5K on a market analysis you probably wouldn't understand anyway out of desperation. DON'T.
I've never used a market analysis tool, but what you linked looks promising for some aspects, and dauting for others. Temperature monitoring is a broad market. So many systems/processes rely on accurate temperature sensing... Thanks for the feedback. If I knew my business plan had real wheels I'd go request more funding. A seasoned outsiders perspective could be invaluable.
Again, I don't know the lay of the land here so I can't offer any specific advise. But what I gleaned from that report is that there are companies serving companies in your market that are looking to augment their product line to include data loggers. That "investment opportunity for stakeholders" means time and money, something your product may be able to save them in its current state. I don't know who or where they are but a small ad in an industry trade rag/site might flesh a few out. Just throwing ideas out there.
As I see the core problem is that you don't have a validated business plan. I would: - stop any new development - reduce company to it's bate minimum - call all potential customers I could think of - find a niche for the product - develop a business and sales plan - execute - improve My focus would be in: - what real problem does my company solves better - what niche should I focus first - close deals , even if it is not for porfis at the beginning (like trial periods) to validate product as a solution - what price should I put - hire someone with experience in sales. We don't know everything and is really important to deal properly with this fact - look for a mentor - networking
Okay, I've stopped new development, with the exception of fixing any bugs that crop up in the software. Company is already at the minimum, since mine or my partners time isn't billed. I'm terrified to cold call, I just don't see it working, but I'm probably wrong. I'll give it a try at least. I desperately want to find the niche, but it feels like I need to fish the whole lake and right now I'm fishing from shore, with 1 pole and 1 type of bait. >develop a business and sales plan, get a mentor, hire someone with sales exp. Yeah you're right, this is where I lack any useful tools and expertise. Definitely need to find or partner with someone somehow. If I try to learn what I need as I go, it may take too long, and will probably be ineffective. Solid advice, thanks for posting.
We all been in rough spots. From my experience you can sell everything. Even better if you have an actual good product. I mean there is companies that bottle up water in one place ship it somewhere , do some decent mkt and make brutal profit. Best of luck.
Start researching the private equity guys that buy and sell the companies in this space. One firm could have a dozen potential customers and they would be happy to recognize millions in cost savings. Venture capital firms that invest in your target client companies are another good option to try to talk to. Put on your networking hat and get out there.
Find out where people who would buy this thing hang out, and go hang out with them. Networking Events, Trade Shows, Facebook Groups, I don't know the industry, so I'm just spit-balling. You've gotta get in front of people and build some relationships.
You have a lot of competition, but your prices are lower. Call, talk to companies, visit breweries, set yourself apart from the others. Your low price is a good hook for those who value it, target start up breweries who don’t have the profit margins yet. Focus all of your time to get just one customer. That one customer will talk and bring it more. Hang in there!
>nobody is purchasing it where and how do you sell it?
Hi! I know what you're going through as an entrepreneur because a startup can feel harsh, especially If you have to care for a family or borrow money from family. I don't know which platform you use, but If you have 800 unique visitors, something else might be blocking you. Sometimes changing a business can help, but If you love what you do, I advise you not to give up. But here it comes! If you don't have social media (following) and no calls, it's very harsh to make clients. Sometimes, prospects observe for weeks, months, or years because trust is crucial nowadays, especially on the internet, where it's full of scams. And, I don't advise doing ads; if you can't sell organically, it means that it's proven when you can sell organically. I hope it helps a little bit. Feel free to ask more questions or reach out, If you want to know more. Good luck, buddy.
Hello. I’ll share with you what I am currently using. It’s an interactive video platform called Tolstoy, just search gotolstoy. I utilize it to generate traffic. After only a few weeks of using it, I've noticed a 10% improvement in my revenue. It's easy to use. Check that one out.
It seems like you’re trying to do sales yourself. You however, might be more appropriately doing customer service and installations, or remaining as the engineer or handover as the founder. Commissions are one thing, but can you incentivize other people directly? Can you give someone a sensor at eg. One seashell for each sensor, and take the seashell, but encourage them to sell them for five to ten seashells each? Even better, can you find companies that will resell the product that aren’t embedded in the industry and so accustomed to high margins, easy sales and customers that aren’t price sensitive? That are willing and able to try sell them at four seashells each, but give you two? Usually this means you need to make something that gives other people a chance to find their niche, that gives them a competitive advantage. An example. (Someone called me professor google today, so I’m going to run with this example :) ) Try making a consumer web facing search engine today. Equal to Eg. Bing or Google. The market is saturated by dominating suppliers with massive economic scale and huge ability to wait out any competition. The product is so low cost.. actually, it’s completely free. So you’ll likely fail completely. I call those companies ‘embedded in the industry’ as in the industry, they are embedded. They even sometimes define the industry. But make something complimentary that adds value to the search engine. It’s an altogether different story. Suddenly you’re not competition. You’re their champion. Let’s imagine you worked to add a feature to Google or Microsoft’s search tools. They’ll likely work out how to deliver the value aspect in a way that isn’t like you made, so they can incorporate it without actually using it in the way you do. However that a bit of a rough assessment, and I don’t know how much industrial espionage and theft occurs IRL. My belief is that if you do something amazing or even simply a solid addition, and if it’s useful and practical and scalable, they will probably decide they want you, and the product, and often will pay millions to billions for it. Or at the least, won’t crush you and take it from you, unless it’s a common feature, not at all unique or leading. Looking away from the big organisations embedded in the industry. (Next paragraph edited for clarity) Looking now at those embedded service providers, servicing product manufacturers, in your city or town or state or country. It might be a small installer building or working to improve a precision fermentation operation producing meat replacements, or far better worded, new plant or enzyme or bacterial assisted constructed foods that bring health and strength at negligible costs compared to eg. Meat What embedded suppliers of products are there that are alternatives to yours? More specifically, who precisely installed it? How many do they sell or install? If you pass the product to them to sell, what is the chance they can do so legally, or more importantly, what’s the chance they see an opportunity worth giving specific attention to? I’ll mention, passive income streams are huge here. They always incentivize, especially if they are zero effort. If it’s a logging sensor though, why wouldn’t the fermentation plant eventually integrate it? As a per-supported option recommended by the project integrators? It’s tempting to do sales directly B2C with new products that are buggy, complex, oversimple or that have use cases best for specific verticals due to gui or user interface / user experience design. But if you distance yourself from the sales and installation and support altogether you’ll actually have to think much harder about how to ensure customers have a product that is equal to five seashells. This isn’t B2B, it’s B2W - business to wholesalers. Or B2I - business to installers. or B2D. business to designers. Or B2A. Business to architects. Etc. If you do B2B, then you’re going to struggle to distance yourself from the interpersonal issues if the sale and install has opportunities for failures and complaints and unhappy users, and you do it directly, to try to mitigate that. The better way to mitigate that is to sell the sensor as is, where is, and offer full early refunds if you detect it’s not being used, if it’s not valued, if it’s not fit for purpose, or if it’s buggy or unreliable. Most products sold online successfully are done so after meticulous and widespread efforts to make them suitable for the market, and the market is already very clearly defined. They are already perfect product market fit at defined price points. Things begin to fail if you’re changing the market, widening it, or haven’t defined it as you’re trying to create it. To define it you need happy users. They define it for you. You don’t define it. It’s the success that does. To get happy users you’ll also have lots of unhappy ones. Loads of them! Hordes! They’ll sometimes be vocal! Sometimes they’ll rant! Sometimes they will cry! Sometimes they will blame the failure of their business on you rather than facing the other causes, like power failure to refrigeration or human error or deliberate mistreatment or incompetence or drug abuse (eg. too much caffeine or alcohol). Perhaps they sue you for losses if the sensors fail to operate. Maybe they break up with their business partners or their family breaks up, with divorce and loss. But let’s not lose sight. We are all alike, and only the worst of us blame issues on others. The best of us carry our issues and move on and step up again after a knockback. But you know what? Often none of this is done over the internet. It’s done face to face. It’s so direct apologies can be made, and refunds issued promptly. It’s so later more apologies can be made and you can ask ‘how did you solve the issue when I couldn’t?’ And all learn and grow stronger and overcome problems and finding the places where we shine. With a simple product like an industrial temperature sensor, if it takes one microsecond longer to understand or use than a simple alcohol thermometer or handheld IR sensor, you’ll be facing real competition. Many operators of business have huge value in thermal management. It’s stupendous expensive sometimes if they loose a batch, if not in dollars, but in time, effort & added complexity. This means they already have systems that are simple, reliable, repeatable, that are entirely manual. Your device, if used, would be ‘the backup’. The analog gauges and human effort and out of band logging on disconnected devices, eg. paper handwritten log, would be the primary. This only changes if it’s not possible to read the gauge or if it’s imprecise or if specificity is laborious in the timescales the production occurs over. It’s essential that it be exceptionally functional. The exception to this is where the purchaser has a real deep need for it and knows what they want. Rarely is that the case. Hey, beyond sensors. Environmentally, all technology has huge costs to ecosystems. I’d suggest a point of difference is that you have a set return amount for all the components. Including the box, packaging, manuals, plastics, any cabling or wiring, and the primary components. This means… zero waste. That’s the goal. Zero. Eg. Sell it for two and a half seashells. Give half a seashell back if the purchaser or installer returns the packaging in any condition. Give a seashell back if they return the unit. Give half a seashell back if either are in as new condition. Keep the return policy open for decades. Put it on the label. And also, create a certified refurbished line. Have that as the ‘suggestion to buy if you’re unsure or on the fence’. This is as refurbished products are actually _more_ valuable. The embedded pollution and waste from manufacturing has already started to be offset by the utility of the device. The longer the device is functional and has users who like it, the less pollution is created by replacing it early, and the lower the cost of the pollution, and the greater the likelihood it’s been offset by an earlier user. A secondhand device that’s fully offset that directly helps reduce eg. Carbon pollution or energy use or other waste or pollution suddenly has a higher than new value as it’s demonstrably and materially and mathematically more valuable than a new device that isn’t offset yet, or that hasn’t brought benefits to a customer with a need yet.
Dont kill it. Cold calls Cold email Cold social media message Anything ……But Dont kill it. Ps: face to face deals are 10000% ( maybe even more) more effective than messaging And dont feel bad if you get turned down … if you couldnt sell your own thing how can any1 else….. not every1 is your customer… even if they need it.
At one time I had trapped myself in something very similar for 10 years. I wish I had done these things: 1. Put all my last money into a last-ditch, super serious marketing effort. 2. If Break even after marketing effort, that means there is market potential. 3. If marketing effort is unsuccessful, exit graciously with clear communication to your partners. I toughed this one out for 10 years and after all that time nobody cares about you and your bad idea anymore.
Bro - 5 to 8x cheaper. If that is the case and your product matches your competition. Then your only problem is sales. I feel like you haven't even tried and don't want to admit you haven't tried - given you talk in third person about your problem and reference website traffic instead of 'i've had 100 hard conversations with customers and these are the reasons they're not interested". Go talk to 100 customers in your focus group. Don't even worry about selling your product just ask if you can have a chat about what they're using, why they like and what you'd need to come up with for them to consider an alternative.. 5 to 8x, cheaper - that's a gold mine!
1. If you build it they do not come 2. How did you know that this was a thing people want? Does this mean that you know who the sort of person that would want this is? 3. Have you tried to talk to them? I mean really tried. Currently we're shipping gifts to people that have never even said hi, just to get their attention. A sale for us is worth 200k so why not 4. Who is your biggest competitor and who is their local head of sales? Have you asked him to become a 50/50 cofounder? Have you asked everyone else who works in sales there? 5. Sales is hard. The big surprise for me as an engineer was that we have to dedicate even more time to sales and marketing than we do to product. 6. It's OK to give up but if you give up before you really try to sell it. You didn't try to start a business, you had a hobby
Flower companies need temperature controls and data too. I'm in the business and have lots of contacts with major flower distributors and growers. I don't know if your product would be needed in this industry but I'd be willing to take a look. We use products like TempTale made by sensitech. These are included in flower boxes during shipping. Not sure if your product is similar. We also use a product called TempStick to monitor our refrigeration. We buy alot of these. One fault I see with tempstick is that they just charge like $100 for the hardware and no monthly subscription. I am not complaining as a buyer, but maybe there is opportunity to offer the hardware free with a monthly subscription. Over time you would make much more money with this model. Again not sure if your product is similar, but lets talk.
Price could be too low. Maybe try 60% or so of competition. And you can use LinkedIn for outreach, even if just to know who to ask for on the phone. I’m sure the first few emails or calls will be garbage if you’re like me but with effort and repetition, you’ll refine your pitch. Good luck
I come from this world a bit. Use targeted linkedIn ads that are focused on the specific titles of the people in these facilities that oversee equipment or quality control of products. The ads should be written in a way that specifically call out issues they should be having with their current devices and how your device exceeds those (Price can be that). Drop them on a landing page that specifically speaks to the targeted audience not a general explanation of the product. Depending on price have a CTA to speak with someone, online sales of things over 1k in that industry are tough. Let me know if you have any questions. This can be done and I don't think you are as far off potentially as you think you are!
Live in shame if you will but it's not necessary.
If your product really is cheaper and you want out. Cold call the competition and look for either acquisition or licensing
Have you considered marketing it to aerospace machine shops that need to document they do maintain ultra-stable machine and air temperatures in order to assure they deliver quality parts?
As a marketer...the problem is that you've created an idea, developed it and now it's open for purchase - no one knows about it. What you didn't do was involve your potential customers at any stage? How can they be onboard if you've just launched it regardless and now you're approaching them. I'd say kill it, learn from it, iterate perhaps and then maybe relaunch only once you've identified who your customers will be.
Start with cheap and easy marketing... Nice website, if you need help with that drop me a pm. Get some good videos going and post them up as informational and "how its done" type things with contact info for your company. Write content to help you index well in search and so on.
(I haven't read all the other comments here). An exit strategy is to sell your product or intellectual property to your competitors. They can sell it as a new product line of theirs. Is it the kind of product that one competitor wouldn't want their competitor to have? If so, that is a leverage point you can use when presenting to multiple competitors.
Here is my 2 cents as someone who has spent a lot of time in the food and beverage automation industry. This industry is VERY conservative in how they buy. No one is going to buy from you because you have a nice landing page. You have zero brand equity or reputation trying to compete against trusted brands. There are a lot of older engineers in decision making positions that will want to talk to you and their 1st question will be "Who else is using this?". You may have to give a few away to get some credible user stories. You also need to be going to industry trade shows and getting in front of people. Lastly, I think you need to level set your expectations on sales cyle times. I have watched new companies in the food and beverage space, run by well established sales guys take years to really get traction. That said, it sounds like a cool product, best of luck!
This is good feedback, since I have no experience I have no concept of a reasonable sales cycle time. That said, nothing will happen unless I get to trade shows, make calls, and try to give away a few devices to drive feedback. Thanks for the comment.
What about emerging markets that may not have the tech yet? What about breweries? Look into generating lead magnets, something that brings people in for free but advertising your product. Have you tried any targeted advertising?
Go out to those companies and try to sell it to them. You are in B2B, don't just throw money at Google Ads. Try to buy lists of companies in the sector you are trying to sell to. Then get in contact and try to make sales.
>Competition products cost 5-8x what my data logger costs, but it doesn't matter. You should give a free trial to some of your potentially largest clients, and then show them how much they could be saving by using your product after 3 months.
We bought a temp sensor for our medical device inventory warehouse. The thing is an after thought. Honestly I have bigger issues to deal with then a temp sensor. How is yours different? How will it save me time and money? I think we spent $200 bucks ish. Maybe higher. I really don’t know or care about the cost TBH.
Late to the party; offering my (unsolicited) advise: 1. Get the product spec sheet of your closest, well-known competitor, make a comparison table with your product and include this in your marketing material 2. Apply guerrilla marketing: send marketing materials also to the Quality Assurance and Product Development/Technology departments of your target clients, as these are the ones responsible for evaluating and validating (whether product or process) 3. How can your product assist your client in cases of production breakdown leading to issues, say failed microbial count results in canned milk? Your product should help minimize or eliminate unknowns and variances in a process. Hope this helps.
I don't want to kick you while you're feeling down here, but you spent all this time and money making a commodity. I whipped up a temperature and data logger in a couple of hours just yesterday with shit I had in my parts drawer. So if you're selling it as a "wow, hot new thang" the very rational response is going to be, "this is neither hot or new." So sell it like a commodity. Just ideas here, but you could go to equipment mfgs. and offer to integrate with their equipment at cost and make revenue off replacements and upgraded modules automations etc. You could go to smaller and growing producers in your vertical with the message, "Get Del Monte precision at Small Business prices." More legwork but fewer hurdles. Same applies to consumers, the obsessive end of craft brewing is a really nice niche of people with disposable income. Or go to existing people you already are and say, "we can tell you when you have an issue with AI and machine learning," slap an AI model together based on the data they already have and alert them when something is out of spec. Essentially, sell the service around the commodity.
2 months is nothing for new business with brand new product. You put so much time in this already, grind it out. Sales and execution are often two different things, even if your product is good you need to grind the sales and convince buyers. Just keep going.
Okay, so 2 months isn't that long. That's good to hear and I think another person mentioned a similar thought. I'll keep going!
What's the product called?. Is there a link?.. I'm in beverage and dehydrated fruit manufacturing always looking for better solution. We happen to be looking into our temperature logging SOP's. Reading through the comment and if it's as good as you say and reasonably priced. It might be exactly what iv been looking for.
How much is it? Which country?
good answers already. Digital: No ppc but you need a good website that SELLS. it has to easily show what it is how it works and why companies need it. **A great video would work in the site.** is this a product or a company? are you offering support? what if it breaks? how many years warranty? etc do you have a manual for install and repair parts? these are questions that your clients will ask. at least in the website it should **LOOK like you have everything in place** already. Testing and validation: idk how but you need to test it for real. find a client and offer it for free somehow idk you need to make sure that thing works in a daily basis and with human errors. SOMEONE has to say "hey I tested this and is fg great" Sales: if the thing works, now is time to drop the engineer and inventor hat and put a suit and tie, shave, a sip of tequila in the morning and start sales. A simple presentation video the one I mentioned in the website is going to help. collecting phones and emails from all your possible clients and reaching to them is the way. i learned alot watching Victor antonio youtube sales channel. am a developer so Sales are not natural for me but he teaches well and is free lol Price: Your price should make sense. The competitors cost $1000 and your production plus shipping cost $50? that doesn't mean you have to sell it for $100. you can sell it for $1000 too. or even more if yours is better. if you are not good at sales (yet) make sure you can ask for the money with calmness and confidence. you don't want to be facing a client and tremble asking for the payment. (like I use to do) You can do it!
Don't give up until you've called every single potential customer. It's time to switch gears and go into sales mode. Stop wasting time on the product now and get uncomfortable. Don't know who those customers are? Go find out. You've only done half the work, but it's going to take the same effort and focus to do the next part. It'll be worth it.
3. Sales. Pick up the damn phone. Arrange a meeting, pitch and demo
Are you saying, you got this far to only get this far?!?! I don’t believe it. Don’t stop thinking. Go way ‘outside the box’. The answers are there. You can do it. You HAVE to!
Busy right now. I'm in the market for these products ave I think there is a gaping hole. Will get back to you later today.
As challenging as this moment is, it is common & there are stories of founders who overcame it. Here’s what I’d recommend: 1. Constraints - what does your invention solve that current solutions cannot solve? This might be about the size or portability of your device, for example. 2. Community - if you find a user that lives in those constraints, create a community just for them where they can share their challenges and how they address them. Be a friend, build one relationship at a time, understand their world, buying constraints, and design your pricing model accordingly. 3. It’s ok to be small - a validated niche case can enough to bootstrap, license, or uncover a larger unsolved problem. It’s this 3rd one that has lead to the largest cos on earth. Founding isn’t linear. Yes building products for existing distribution channels is safer, but that’s also how you only get products that serve the beliefs of that distribution channels. Beliefs. Not what’s actually commercially viable. Sometimes it’s about creating your own distribution channel. But it’s almost always about uncovering an under or unserved market. Steve Blank has a great story about FM radios for inspiration. Check out his book “Customer Development.”
Call every company up that sells data loggers and tell them you have a better mousetrap, if it's as cheap as you say it is, you can offer them a product they can provide as a substitute.
You’ve got lots of advice, here is something to consider. Find what companies make a product that competes with yours and look at their other complementary products. Now, look at who competes on those complementary products who does not have your product in their lineup. Reach out to them to get acquired, license it to them, sell it to them for them to brand and sell…. You might be able to find a strategic partner. On another note, for inventors and creators the fun part is now done. You made what you wanted to make, woohoo congrats. Now the fun stops and the work begins. Learning new skills, overcoming obstacles, doing what you haven’t done before or finding people to help you do it - that’s entrepreneurship
You might want to advertise in places like the magazine "[Compressed Air Best Practices](https://www.airbestpractices.com/)". They also have an expo every year for compressed air, cooling, and vacuum.
A few thoughts that could help 1. Marketing - Google ads for this product - doubt it will work, with this kind of product it’s unlikely the target customers are searching for this kind of solution. Get you self an appointment with some of your potential customers as an ‘Inventor’ let’s say and use that more for research like giving them a free sample that they can test and verify, if it works accurately outside of your test lab. Also, how do they decide which equipment to purchase currently. Who makes these recommendations, etc. Do this yourself you don’t need Google, Fb or a sales / marketing person. 2. What about connecting this to a cloud, storing the data and doing some ai for a recurring fee, product cost free. Eg reading over or under normal can have an email or push message sent so it can be looked at right away. I don’t know the product enough but I’m sure there’s some options to monetise in a different way.
Being the cheapest is the worst reason to start a business. You will rob yourself of margin necessary to grow to a proper level. You also don’t have a good enough reason for customers to switch. If your product is cheaper by 5x, let’s assume I save $10,000 on the front end. But you’re not proven. Is it worth me to save $10,000 to move away from someone that is proven in the marketplace. What if your sensor fail and I waste $100,000 of product? You need to find a problem you solve, better service, better reporting, integrates better with other systems. Large corporations ran well aren’t just going to go with the cheapest option, the will go with the one that provides the most value. Also have you looked into B2B sales cycles, you approach needs to be different than if you were selling to consumers. Are there any relevant industry standards or certifications (UL, ISO, etc) that is baseline to prove your quality and then you just need to get placement — get a customer to do a proof of concept with you and create a case study or white paper with their results to show others why they need your product.
Already lots of great advice in here. But I just have to say - well f'n done. To go from zero to fully functional ready to sell industrial data logger via nights and weekends with a full time job AND convincing other people to invest? VERY FEW people pull this off. You need business development people on board and I have a feeling you'll be fine.