With Ben Drury, Co-Founder of Yoto
Hosted by Kevin Mako of MAKO Design + Invent
Ben Drury, the creator of Yoto, a toy product for children that is connected to hardware, has achieved remarkable success with nearly 500,000 units sold worldwide in just a few years. In this discussion, Ben will share valuable insights with inventors, hardware startups, small manufacturers, and e-commerce brands on the five distinct sales channels. He will also explain how hardware startups can develop and grow through these channels, as he did with Yoto, in order to maximize sales growth.
Today you will hear us talk about:
- Crowdfunding can guide you through all the necessary elements for building a successful product business.
- A direct website provides ample information to sell your product.
- Sales through Amazon are easy to set up.
- When dealing with wholesalers/retailers, including micro, independent, and mass retailers, presenting an inferior product can severely damage your retail prospects.
- Retailers are governed by numerous regulations and requirements, and they typically want to see proven success before adding a new product to their inventory. They also operate on long-term cycles, planning years in advance, so preparation is crucial for working with them.
- Specialty channels, driven by consumer demand, provide unique partnership opportunities for purchasing your product.
- The feedback loop from customers is very active.
Partner: PTC’s best-in-class software solutions Onshape: The only cloud-native product development platform that delivers full-featured computer-aided design (CAD), integrated product data management (PDM) and enterprise analytics in a single system, and Creo: 3D CAD solution that provides designers with the most innovative tools to build better products faster, such as generative design, additive manufacturing, real-time simulation, IIoT, and augmented reality.
About: MAKO Design + Invent is the original firm providing world-class consumer product development services tailored to startups, small manufacturers, and inventors. Simply put, we are the leading one-stop-shop for developing your physical product from idea to store shelves, all in a high-quality, cost-effective, and timely manner. We operate as one powerhouse 30-person product design team spread across 4 offices to serve you (Austin, Miami, San Francisco, & Toronto). We have full-stack in-house industrial design, mechanical engineering, electrical engineering, patent referral, prototyping, and manufacturing services. To assist our startup and inventor clients, in addition to above, we help with business strategy, product strategy, marketing, and sales/distribution for all consumer product categories. Also, our founder Kevin Mako hosts The Product Startup Podcast, the industry's leading hardware podcast. Check it out for tips, interviews, and best practices for hardware startups, inventors, and product developers. Click HERE to learn more about MAKO Design + Invent!