How viable do you think this project is?

[fisicx]

Exactly. Marketing is central to everything. I’m not sure you have anything that can’t be replicated by anyone the major tech industries.

They could take your code and have a product launched within weeks.

 

[cjd]

I'm going to go against the tide a bit here. If your product is genuinely original researching whether people need it or would buy it, probably won't get you the right answer; for those kind of things often you do have to 'build it and they will come'. Or not.

Your main problem at the moment seems to be that you can't communicate what your product is or why we need it in a way that we can fully understand it. Which implies that you're not building something yet that you could advertise and sell. I think you need to put the code to one side and work hard on describing the problem you're trying to solve for the user and whether it is actually a problem.

The upside though is that this is a hobby, so you're not going to starve and your house isn't at risk.

 

[Mark T Jones]

It seems to me now that the best way to make Midbar competitive on the market is to make it fit on your key chain, light as a USB flash drive, equip it with the convenient software that would allow you to interact with Midbar without knowing a thing about the technology it's built-on, make it stylish, launch a good promotion for it, convince the end user that this device is exactly what they need to solve their problems (whatever they might be), and do an extensive market research before even considering what to do with it and whether I should even try to get Midbar to the market.

In any case. Thank you all for your feedback. That was very helpful to me.

You are starting to think like a marketer rather than a product geek - which is good. As others have said, bringing a product to market is 95% marketing, 5% product. Your product only needs to be fit for purpose, not best, cheapest or most exciting.

SALES AND MARKETING MASTERCLASS - LESSON ONE FREE!

FAB

Features Advantages Benefits

Feature

A simple/bland statement of fact.

This product will fit on your keyring.

Every product brochure /website has a long list of features. Nobody reads them.


Adavantage

Pimps up your features. Makes them relevant / interesting.

This product fits on your keyring, which means that it its easily carried about your person.

Advantages is where you start to talk to / resonate with prospective buyers - but they don't clinch the deal.


Benefit:

How your advantage meets a specific need, as stated by the customer. (That's sales-specific. In marketing terms you are using your research and niche to imply the need)

This product fits on your keyring, which means it can be carried about your person, as you were concerned about losing or forgetting it.

A good, user-specific benefit is a sniper bullet. It will clinch the deal whilst all the amateurs are desperately trying to pimp as many features into advantages as they possibly can.

You only need 1 proper benefit. More than 3 & you are missing the point.

And, back into the circle.

You can only have a true benefit of you know the specific (strongly implied) needs of your audience.

You can only establish those needs if you find & research your niche.

Until you do that you will just be shouting pimped-up features into deaf ears. (Or worse, getting pulled into pointless debates about functionality and competitors)


All future lessons £100 P/H.

Target audience - inventors of tech products who don't understand marketing.

The benefit is that you will learn how to create an engaged target market, willing to pay for your product.

The need is strongly implied by every single 'rate my product' thread on UKBF.

 

[Northstrix]

Qui

Exactly. Marketing is central to everything. I’m not sure you have anything that can’t be replicated by anyone the major tech industries.

I believe I'm beginning to understand it now.

They could take your code and have a product launched within weeks.

Quite frankly, I would be thrilled if someone would take the Midbar source code and bring the device to market. At the very least, it would add a bullet point to my portfolio proving that I created something worth taking. Additionally, it would contribute to the "data security" market - or whatever you might call it - and I would personally benefit from being able to use that device.
And at the same time, I would get more time to focus on developing my own payment system.

 

[Northstrix]

for those kind of things often you do have to 'build it and they will come'. Or not.

I guess that's one of the possible scenarios for Midbar.

Your main problem at the moment seems to be that you can't communicate what your product is or why we need it in a way that we can fully understand it.

Thank you for pointing this out. I'll work on that.

 

[Northstrix]

You are starting to think like a marketer rather than a product geek - which is good. As others have said, bringing a product to market is 95% marketing, 5% product. Your product only needs to be fit for purpose, not best, cheapest or most exciting.

SALES AND MARKETING MASTERCLASS - LESSON ONE FREE!

FAB

Features Advantages Benefits

Feature

A simple/bland statement of fact.

This product will fit on your keyring.

Every product brochure /website has a long list of features. Nobody reads them.


Adavantage

Pimps up your features. Makes them relevant / interesting.

This product fits on your keyring, which means that it its easily carried about your person.

Advantages is where you start to talk to / resonate with prospective buyers - but they don't clinch the deal.


Benefit:

How your advantage meets a specific need, as stated by the customer. (That's sales-specific. In marketing terms you are using your research and niche to imply the need)

This product fits on your keyring, which means it can be carried about your person, as you were concerned about losing or forgetting it.

A good, user-specific benefit is a sniper bullet. It will clinch the deal whilst all the amateurs are desperately trying to pimp as many features into advantages as they possibly can.

You only need 1 proper benefit. More than 3 & you are missing the point.

And, back into the circle.

You can only have a true benefit of you know the specific (strongly implied) needs of your audience.

You can only establish those needs if you find & research your niche.

Until you do that you will just be shouting pimped-up features into deaf ears. (Or worse, getting pulled into pointless debates about functionality and competitors)


All future lessons £100 P/H.

Target audience - inventors of tech products who don't understand marketing.

The benefit is that you will learn how to create an engaged target market, willing to pay for your product.

The need is strongly implied by every single 'rate my product' thread on UKBF.

Got it. Thank you so much.
If I ever get to the point when I decide to launch Midbar and manage to get funding for it, I would definitely reach out to you for a couple of lessons (if not more).

 

[GraemeL]

@Northstrix its really good to read that you are finding the forum useful and you are not simply arguing that the views of contributors are wrong, which is what seems to be the case on too many occasions.

Good luck with whatever you develop.

 

[Northstrix]

@Northstrix its really good to read that you are finding the forum useful and you are not simply arguing that the views of contributors are wrong, which is what seems to be the case on too many occasions.

Good luck with whatever you develop.

Thanks.

 

[fisicx]

Quite frankly, I would be thrilled if someone would take the Midbar source code and bring the device to market. At the very least, it would add a bullet point to my portfolio proving that I created something worth taking.

It's more likely they will fork and you get zero credit. You would never know if they are using your code or not.

 

[Mark T Jones]

Got it. Thank you so much.
If I ever get to the point when I decide to launch Midbar and manage to get funding for it, I would definitely reach out to you for a couple of lessons (if not more).

You will of course need a clear, coherent, researched marketing plan in order to get funding