If you have a great invention, you probably want to make some money from it. The problem is that marketing a product can be incredibly expensive. For one thing, advertising companies are often quite expensive. Second, even options like online ads that you create yourself are price tagged and it can be more than you can shoulder. But that doesn't mean you're out of luck. If you're looking to market an invention for free, here are a few options that might work.
Go to Social Media
If you've been able to make your invention but don't have enough money to market it, there are free options available to you. Usually, the easiest place to start is on social media, as you can create an account for your invention and add posts to generate buzz or secure sales.
Social media marketing can be completely free. However, you may need to acquire some skills and improve your technique to ensure that it costs nothing more than time and energy. For example, effective keyword and hashtag research is usually a must. Additionally, learning how to create fascinating posts can be important, including any pictures or videos.
Partner with influencers and bloggers
In some cases, social media influencers and bloggers will promote your product to their followers with no upfront payment. Instead, they can showcase your invention to receive the product for free and earn a small amount with each sale or similar agreement they generate.
Usually, you will have to reach out to smaller influencers or blogs if you go this route. Those with large, established followers can fetch high prices so they may not fit your budget. However, smaller accounts or blogs with a targeted following in your niche of invention may be open to the idea.
Find an investor
If you don't have the money to make or market your invention, finding an investor may be your best bet. This can include anything from interviewing friends and family members to crowdfunding through websites like Kickstarter or GoFundMe to getting financial support from an angel investor.
With this approach, your initial marketing efforts may be free. In addition to developing elevator clearance and lengthy presentations, you may need a business plan, details about your invention, and similar documentation. As long as you have access to a computer, you may be able to create these yourself for free.
Secure a license agreement
Rather than market your invention widely, you could focus on finding a licensing agreement. With that you still need to create a presentation and similar documentation. However, they only focus on speaking to companies that may be interested in using their branding to make your product.
It can be daunting to get your foot in the door with a company that may be buying a license. However, it has the potential to lead to a financial slump that can pay off in the long run.
Alternatively, you can sell your idea entirely to a company. Using this route, you may not have any rights to your invention once it has been sold. So you cannot rely on them as a long-term source of income. However, it could give you the opportunity to make a pretty penny off of your invention without marketing beyond that sale.
Do you have any other tips that might help someone market an invention without spending money? Share your thoughts in the comments below.
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