As we move further and further into the digital age of advanced tech, there is no better place to be than in the world of technology. With so many opportunities to get into the tech space, consumer electronics is one of the top categories to bring dope tech to consumers.
Here are five tips for launching a consumer electronics brand w/ NSPRE® founder Chaymeriyia Moncrief.
1. Find what's missing.
Bringing new tech into the world starts with, What is the world missing? What is already invented but can be better? For example, a better smartphone, a better laptop, creating the fastest charger in the world, a portable flatscreen T.V-- just kidding, but you get it!
Finding what's missing or finding what you can make better all starts with market research. Sometimes the best aha moments come from the frustration of using a current piece of technology and saying, " I wish it did this-- it would be so much better if it had this." That's probably how every invention has come about.
2. Test the market.
After determining what you'd like to do; Testing the market is very crucial. Starting your consumer electronics brands will include an extensive amount of testing to ensure success. Remember, it's "consumers" electronics, so you want to guarantee this is something that consumers truly want or need.
This can require a prototype or even explaining your concept to others for feedback; now go easy here. You don't want to give your ideas away so freely, especially if you have a proprietary idea.
Here's the idea:
- Find a Manufacture that can create your prototype. NSPRE® has used compnaies like CEC and Kickr Design. Your prototype can be created digitally only or digitally and physically.
- Hold pop-up shops, vendor events, etc., to allow people to test your electronic prototype or to showcase it if it's digital. (Before officially releasing the NSPRE® smartphone, we did several vendor events, small conventions, and pop-up shows to get feedback on our smartphones before moving forward with total production. This allowed us to reset, renew, and reevaluate features and looks before launching).
- Test manufacturers to find the best one to help you create the perfect product in terms of quality and operations. You can simply look for OEM Manufactures. They can assist in your design process and manufacturing efforts. A few to look into are CEC, HyPro, Inc., Garmin, and Kickr Design. You can also visit Gembah to search many manufactures at a time.
- Test. Test. Test. Test your products through every inch of usability possible. Once you are satisfied and your feedback is within potential consumer satisfaction--start moving forward.
- Don't quite have the funds? Raise the capital, pre-sale, or find avenues best for you to get started. Sites like iFund Women, Kickstarter, Fundrazr, and Indiegogo are great places to start for non-equity raising.
3. Build a community.
This step is more important than you may think! Building a community that rallies behind your product is the best way to create successful electronics launches. Think about the likes of Apple and OnePlus. These consumer electronics brands have created a massive community of users-- and I mean standing in line for days for new releases, kind of community.
NSPRE® personally has built our community via peer-to-peer avenues like email and text using social media. Our digital communities have over 24K+ individuals that we began building long before releasing our first product. Social media, marketing, and press help build excitement about products before launching them and building up a waitlist.
4. Don't overthink it.
Don't overthink the product you desire to release. Here's the thing, over-saturation is not a thing. Think about all the brands of the SAME kind of product. T.Vs, cars, clothing, to even bread-- and they're ALL successful products. Why? Because there is always a community of people that want to go with the next best option or the brand they love and relate to more.
So don't think you have to release this widely innovative product because there are hundreds like it already on the market. When it comes to the bottom line, it's all about how you market and execute.
5. Create a kick-ass brand.
Do you know what scares the biggest brands in the world? It's that we are in a digital age of social media and online placement. A startup can start a brand today, build a massive community of people, create a dope company, and come in and dominate the space. Having a fantastic story, brand message, a unique product or concept, and excellent placement can take your electronic effect from 0-100 in under a year-- this is speaking from experience.
Your brand is how you stick out, gain curious consumers, and retain them-- yes, there are other electronics like it, but it's just something about YOUR brand in particular that draws consumers in and has them rally behind you.