30
Mar

ASOTV Invention Contest Results 2012 Summary

Posted by Carrie Jeske in As Seen on TV (ASOTV).

ASOTV Invention Contest Results 2012 Summary.

We tested two products, DeSpinZer (Schaefer) and Groomstik (Ball). Neither did well enough to move forward with a full retail roll-out. Both these products are strong and have much potential through other distribution channels. TV just didn’t prove to be an effective sales strategy at this time in history, using the creative TV pitch tried, in the sample group selected. Successful TV selling is a dynamic process based largely on ever changing consumer interests.

Pop the Top (Henderson) was one of the first products reviewed and showed early interest. but proved to be too expensive to produce and mass market appeal sparked debate among the team so the concept was dropped.

Two products, Envelop Budgeting (Jeske) and Stand Tall (Lockett), are still in the product development stage, but moving slower than normal because pipeline is filled with other products that are predicted to have a higher chance of success. Again, timing is everything.

For 2013, we have high expectations that the lessons we’ve learned and the infrastructure we’ve built, will result in a winning Direct TV (DR-TV) product that earns commissions to the inventor and referral fees to our non-profit in a multi-million dollar As Seen on TV (ASOTV) campaign that ends in full mass market retail distribution at Wal-Mart, CVS, Walgreens, Target and others.

Here are the results of the 2012 Inventors Center of KC Invention Contest.

Steps		Total Products		Jan/Feb	Mar	April	May	June	Aug	Oct
1	Submissions	273		49	23	34	18	42	29	33
2	1st Committee Approved	35	12.82%	7	3	9	1	6	6	3
3	2nd Committee Approved	5	1.83%	2	1	1	0	0	0	1
4	Product Development	5	1.83%	1	1	1	0	0	0	2
5	Term Sheet	2	0.73%
6	Test – Commercial Production	2	0.73%
7	Licensing Agreement	2	0.73%
8	Successful Test	0
9	Royalties Paid

Learn more, click here.

Submit your idea, click here.

Review the feedback from the products submitted in 2012, click here.

2012 was a year to LEARN.

I had the pleasure of expanding my education with the ASOTV market in 2012 when I secured a product / distribution partner for the Inventors Center of Kansas City.

where I served as President for 3 years and on the Board of Directors since 2006. Seeing things from the other side of the table was eye opening. The amount of time, money and effort that is put into new product launches from the company side is significant and it’s largely an industry that builds on failure, to ultimately achieve success. That’s what I appreciated most about the experience. Seeing first hand, like Thomas Edison, that it is our failures that lead to success. When we acknowledge their truth, make the changes needed to test again, and persevere till the best, most viable solution is found.

For the Inventors Center of KC, 2012 was founded on that principle and continues to strived to educate and encourage inventors to educate themselves and keep inventing, failing fast and least expensive till a financial reward is reaped.