HIT PRODUCTS INNOVATION COACHING
Advisory and coaching services for product innovators
Bringing a new product to market is a rewarding journey but is not without its challenges! Industry estimates suggest that only 10% may get their product to market, up to 5% will build a profitable business from their idea, whilst around 1% might deliver a large financial return. But this isn’t the luck of the draw. Other than financial and technical feasiblity, products typically fail owing to flaws in 1) the product concept and market fit, 2) the execution of the development or 3) the go-to-market strategy and implementation.
Product and industrial designers are often a would-be-innovator's first port of call to kick-start their product journey after conducting some initial research. However, they are not ususally mandated or experienced to provide broader commercial advice on the product briefs they are presented with. This is a reality check worth keeping in mind, and indeed some, may be motivated by the fee-earning potential of a new project whilst others may have screening processes in place to distil clients they actively want to work with!
We specialize in guiding creators, inventors, and entrepreneurs through the complex journey of turning product ideas into a market-ready products with the aim of maximising your chances of commercial success. We acheive this by empowering founders and product teams with the right tools, guidance and strategy to mitigate the risks attached to new product development, saving you time, money - and your sanity - along the way!
SERVICES
Product
Validation
Evaluate product demand
Products must solve a meaningful problem or fulfill a strong desire.
Learn how to:
- Test assumptions, research customer pain points and identify trends
- Conduct competitor and market analysis to establish if there is a genuine gap in the market
- Identify customer profiles of users who would buy your product
Product Market Fit
Discovery
Create for your audience
Products must resonate with the target audience’s preferences, lifestyle, or expectations.
Learn how to:
- Define and prototype your MVP (Minimum Viable Product)
- Concept test using visualisations and samples to ensure alignment with customer expectations
- Interpret user feedback and iterate based on customer insights
- Understand the interplay of cost, form and function in product design
Product Competitor
Differentiation
Stand out in a crowded market
Identify what sets you apart and communicate it clearly.
Learn how to:
- Conduct competitor SWOT analysis
- Design to satisfy your USPs (Unique Selling Propositions)
- Consider how IP (Intellectual Property) can be used to protect your product and brand
- Communicate your product benefits and features effectively
Pricing Strategy
Price smartly to grow profitably
Explore pricing strategies that align with your cost base, customers and financial targets
Learn how to:
- Set pricing that supports margins and market competitiveness
- Create pricing models to evaluate margins/profits and forecasts/breakeven
- Understand the costs implications of your manufacturing choices to 'design for profit'
Manufacturing &
Supply Chain Support
Build your product with reliable manufacturing partners
Equip yourself with with the questions, checklists, and red flags to master sourcing and production
Learn how to:
- Vet and compare manufacturers using tried and tested methods
- Learn how to negotiate and manage costs without compromising your product or profit
- Understand the importance of quality control and how to mitigate risks
Retail Sales
Advisory
Launch your products into the retail market
Secure product sales into domestic retailers and to international clients
Learn how to:
- Identify the right sales channels and retailers to target
- Understand their requirements to create the perfect pitch and secure new business
- Negotiate price and other Vendor Agreement terms with confidence
- Learn how agents and distributors can lead to domestic and export retail sucesss
Amazon Sales
Sell on the world's no. 1 marketplace
Learn how to navigate selling on Amazon and avoid the many pitfalls
Learn how to:
- Set up shop on Amazon UK and begin selling to millions of customers
- Expand your product's reach via Amazon's international marketplaces
- Understand the complexities of the platform to ensure its a profitable sales channel
Launch Strategy and Promotion
Launch with a clear and confident plan
Map out when, where, and how to reach your ideal customers
Learn how to:
- Develop a strategy to align with the distribution and sales channels you want to prioritise
- Understand the differences and opportunities between 'Paid', 'Earned' and 'Owned marketing'
- Understand performance metrics like 'CPA' and 'ROAS' and how they impact your profitability
- Utilise methods to promote your products without spending $$$
MY JOURNEY
I established Hit Products in 2015 as a launchpad to develop a range of innovative products designed to solve everyday problems. The brand is best known for its anti-spill cup holders, CouchCoaster and TableCoaster, which pioneered a new retail category in drinkware accessories.
From appearing on the prime-time ITV business show ‘Give it a Year’ fronted by Baroness Karren Brady - who was sceptical of the demand for the coasters - Hit Products has now been trading for 10 years and has sold over $10,000,000 in retail sales value in more than 100 countries, through a network of distributors, retailers, direct-to-consumer channels and marketplaces.
Follow-up products have included phone gadgets, baby accessories, and gardening innovations, and the products have been sold by some of the world’s highest profile retailers (e.g. QVC), featured in leading business publications (e.g. Forbes) and covered by some of the biggest names in media and entertainment (e.g. The Today Show).