As we close our newest ASOTV search, I wanted to take the opportunity to give everyone (Insiders and non-Insiders alike) an opportunity to discover why your innovation may not have been chosen for the ASOTV searches.
Many of you have submitted to several of the ASOTV searches and we hope this blog post sheds some light on the ASOTV process and gives you an idea on how to improve your submissions moving forward.
Edison Nation has reached another milestone. As an Insider, you are probably aware that the time has come to provide feedback on the idea(s) submitted to the ASOTV Quarterly Search which ran from July 6th, 2010 to September 7th, 2010. Since the launch of the Insider program in June 2010, ideas not selected at the Finalist stage have received feedback based on the search sponsor’s reaction and response to the idea. However, because all of your ASOTV ideas are shown to multiple companies during different presentations, the feedback for these Live Product Searches differs from other searches hosted on Edison Nation.
Most of our search sponsors are looking for innovation in specific categories. Our ASOTV searches encompass a variety of consumer product categories and the groups that we present to are looking at the ASOTV product ideas from a much more universal perspective. In short, they address one question: “Is this a fit for direct response television?” Most of these groups have been in the industry since its inception and have the ability to weigh an idea against this simple question and make an educated decision.
For those of you who were not selected in this ASOTV search, we don’t want to simply state: “This idea wasn’t a fit for direct response television.” Instead, the Edison Nation team wants to provide a more in-depth explanation.
The most common reasons an ASOTV company does not move forward with an idea:
- The product appeals to only a niche market of consumers
- The product is not solving a big enough problem to be commercially viable
- The category for the product is overcrowded
- The development for the product concept would be too costly
- The price-point for the product is too high
- The item is seasonal
- Someone in the industry has previously worked on a similar idea and it was ultimately a failure
We are aware that even still several of you will fall into a unique category not stated above. Many of you have submitted one or several ideas to the ASOTV searches. In the past we encouraged you to continue to submit the same idea since we’re always adding new direct response companies for each ASOTV search. If you are one of our enthusiastic ASOTV submitters, please know your ideas have been shown to ALL of these companies. If they have not moved past the Finalist stage in consecutive searches, we believe it’s time to give the idea back to you. You can either make significant, meaningful changes and resubmit to future ASOTV searches, or pursue the idea on your own.
We hope this provides you with valuable insight as to why your concept was not chosen to move forward in the ASOTV process and we look forward to viewing your new (and improved!) ideas.