Sales forecasting question

[B. Cole]

Happy Sunday Fastlaners.

I'm gaging my target audience and setting up realistic expectations as I wait on others for progress on my product.

Total compatible households for the item in the US are 5 million. Customers to benefit greatly from the product I feel are 3 million.

But the real taters - figuring how many people would actually buy, perplexes me. I can't find sales numbers from competitors. Other products are getting 700 - 800 reviews on Amazon, a couple hundred on Walmart. It's a 20 dollar item, competitively priced that solves the issue other products missed.

I could pick a number and say I'll sell 5% of the market, but I just don't know. My question is, if licensing through a company already well established in the market, what percentage of the market typically buys? I know this depends on marketing and a lot of other things, I'm just looking for averages.

Thanks in advance for any responses. Been searching for days with no clear answers. I know it's mostly a guess, just wanted to see your experiences.

 

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[Ankerstein17]

Ask your self, who is your competition.

What is your competition doing currently? What kind of results are they getting? Are they a main brand? Understand their business.

Then dive into their financials, and discover what kind of revenue is being earned by the competitors with that product.

If you are having difficulty looking for these numbers, be more refined in your searching.

 

[sparechange]

Your expectations are useless. Make a sale and worry about it later

 

[ruzara5]

My question is, if licensing through a company already well established in the market, what percentage of the market typically buys? I know this depends on marketing and a lot of other things, I'm just looking for averages.

In addition to what other posts in this interesting question have developed. Here is a simple option to consider. Get a survey going on where your marketmind is lingering and swimming. No need for a deep dive. Ask a survey question to your audience. Get some 'buy vibes' from some segment of your market. Get possibly a lukewarm or 'hot' presell lander operation going. Simple and sweet.

 

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