Selling on Home Shopping Networks
Home shopping networks are one of the ways through which businesses can promote and popularise their brands among consumers via special TV shopping channels. Businesses selling their products through home shopping networks provide detailed information about their products to consumers in a broadcast of these specialty TV channels. A good number of these home shopping networks such as HSN and QVC offer 24/7 live TV broadcast. Consumers watch the channels to know about various products available in the market. Normally, the shopping channels invite product experts of the businesses selling through them for a live broadcast. The broadcast offers them the opportunity to explain the various features of their products and services to the consumers and also the advantages they will offer them.
Home shopping networks have become acceptable means of marketing a product or service to the consumer. This explains why the industry has become very popular within a short period of time. Despite the huge brand exposure and other benefits businesses derive from marketing via these specialty TV channels, they have their own drawbacks. Below are some of the benefits and disadvantages of home shopping network.
Benefits of home shopping networks
Wide product exposure
As it has been mentioned above, selling via home shopping networks is a veritable means of reaching a huge number of your targeted audience in few minutes. As the product expert of your business demonstrate and explain your product in a live TV broadcast, many consumers watching the broadcast will come to know about your product within the few minutes the broadcast lasts.
Highlighting the good aspect of your product
Selling through home shopping networks offers you the opportunity of not just marketing your products to consumers but also highlighting their selling points to the consumers. During the live broadcast, your product expert will have the opportunity of pointing the advantages of your products and services to the consumers. Definitely, there are many people out there that have heard about your products but they don’t know how the product will benefit them. During the broadcast, you will be able to present the good side of your products and services to consumers. Besides, these shopping channels give room for 3 dimensional presentation and demonstration of product. You will be able to convince consumers about the numerous advantages they will derive from your products or services.
If your product is accepted by the audience, your will be allowed by the home shopping networks to move a good number of them within the shortest time limit. In other words, home shopping networks offer instant response to businesses selling through them. For example, 8,000 pairs of footless hosiery spanx were sold within 8 minutes during its first appearance on QVC in May 2001. $37,128 and $39,018 worth of products were sold within few minutes by Necklace extender shooks and Illuminated fragrance jar of Potpourri Glo respectively. There are a number of businesses that have made huge sales within few second through home shopping networks.
Helping you to know what consumers want
Shopping networks help businesses selling through them to know what exactly the consumers are looking for by encouraging consumers to provide feedback for the various products they have used or for the businesses they have used their products.
Payment after selling of good
One good aspect of some of these shopping networks is that they only charge their clients after selling their goods. So, your business loses nothing if none of your products are sold through the channels as you will only pay when sales are made.
Disadvantages of home shopping networks
As normal in life, everything that has an advantage also has a disadvantage. There is always another side to every coin. The above statements also apply to home shopping networks. Selling through these mediums also has its own disadvantages. Here are some of the disadvantages of selling through them.
Difficult to get on the show
One of the disadvantages of home shopping networks is that it is very difficult to get in the show. This is because of the huge number of businesses that apply for it. For example, QVC alone receives an average of 20,000 applications on a yearly basis but only 4% of this number will eventually make it to the show. Not getting on the show can be very frustrating to some people. There are a good number of businesses that would want to demonstrate their products in a live broadcast but they don’t have the opportunity of doing so.
Large inventory in stock
Before you will be allowed to appear in the show, the inventory you have in stock should be very huge. So, there is no opportunity for any business with small inventory to sell in the home shopping networks.
Strict quality tests
Home shopping networks do not sell any quality of products. The quality of your product must be very high before you can sell on the networks. This is an advantage for the consumers but it does not benefit all business owners. Your products must pass the quality tests of any shopping network you want to make use of their services. There are a number of factors that are considered in the quality tests. The process is very rigorous and strict. It is not only the quality of the content of your product that is considered. The packaging as well as the use of the products is taken into consideration by some of these shopping networks before they accept it. Most businesses normally fail the quality tests.
Even if you pass the quality tests, you have to always ensure that your product meets the taste of the consumers. Most of the home shopping networks take feedbacks from consumers very seriously. Your products can be delisted if there are too many complaints from consumers against it. So, it is very tasking to keep selling on the networks.
How to sell on home shopping networks
Any business can sell on most of the shopping networks in so far as it satisfies all their requirements. Small and medium businesses as well as big companies can make a lot of sales through these channels. If you succeed in bringing your product to the show, you will gain from it. Below are some of the tips that you should apply in order to be successful with your marketing campaign via the shopping networks.
Prepare to bring your product in front of the camera
It is highly necessary that you have a great product to air in the TV shopping channels. It is not enough for your products to pass the quality test. You have to go the extra mile in preparing them for the show. You have to make your products demonstrable in front of your targeted TV audience. Think about how the host will feel talking about your product on the show. Do you have a product that will make the show very interesting? Or will the show be boring because of your product? These are some of the questions that you should ask yourself when you are preparing your products for the show. You can also hire models to showcase your products during the show.
Hire a professional broker with experience in the industry
In order to ensure that no stone is left unturned during the show, you should consider hiring a broker with many years of experience in the industry to help to get your product in front of the camera. You will regain the money you spend in hiring a sale representative or broker. Normally, such a service is a commission based service. So, they will put more effort to ensure that you have a successful campaign because the more successful their campaign is the more money they make.
Develop a working sample and contact consumers
It is important that you work out the selling point of your products and contact consumers directly. You will only sell much of your products if you are able to contact and convince consumers. To do this perfectly well, you should develop a brief pitch that pinpoints the main features as well as the benefits of your products. Decide on the consumers to contact either through phone call or email. Present the samples and sell your products to them.
How to develop a perfect pitch for marketing on home shopping networks
Here are points you should take into consideration when developing a sale pitch for your marketing campaign on home shopping networks.
- Be time conscious. You should bear in mind that the consumers have no time to waste. So, you should not waste their time during the show. Most people talk about things that are not relevant and thus waste time. Use your time wisely by concentrating on the advantages of your product. The show should be informative, short and interesting if you want to get the attention of your targeted audience.
- Explain the financial implication of your product. Every retail buyer wants to make great saving. So, they will want to know how they will benefit financially from your products. You should highlights on the financial implication of your products. You will get their attention if you sound convincingly.
- Demonstrate your product. You should not only spend your time talking about your product, you should demonstrate it to the consumers. For example, it is a home appliance, you have to demonstrate how it is used or assembled together.
- Explain the benefits of your products. There are other businesses dealing on the same niche market with you. So, you have to provide your audiences with reasons why they should buy your products. Explain the uniqueness of your product to them.