If you're going to start a company, it would be a great idea to name it BootyPop. Except that name is already taken.
About two years ago, former college friends and now entrepreneurs Lisa Reisler and Susan Bloomstone launched BootyPop, which sells panties that make your booty pop. They claim to have sold just under a million units since then.
Listen to my audio interview with them and you'll learn some valuable entrepreneurship lessons, including:
- The importance of a name: C'mon, you know there is no better product name in the world than BootyPop. It's so good that when Lisa and Susan called the Donny Deutsch show "The Big Idea" and said, "We have a product called BootyPop," the response was, "Can you be on the show tomorrow?"
- Timing is everything: Both Lisa and Susan were not employed at the time they came up with the idea for BootyPop. There was nothing stopping them from pursuing a crazy idea. Many entrepreneurs have big commitments and full-time jobs and don't find it easy to break away from those bonds to start something new.
- Branding: The name is only the beginning. How about sizes that are called Sweet (small), Sweeter (medium) and Sweetest (large)? How about color choices like Cherry (pink), grape (purple), licorice (black) and caramel (nude)? How about being on message all the time, ending emails and conversations with "Bottoms up!"
- PR: Their public relations results have been amazing. How about a sketch on the Tonight Show with Jay Leno Show to hype your brand? Not to mention The Today Show, Good Morning America, Live with Regis and Kelly, The View...there's not enough room on the Internet for all the free publicity they've received, and I can't even estimate the value of it. Easily in the hundreds of thousands of dollars.
- Advertising: They kept costs low by partnering with FitnessQuest, a sports-products marketing and informercial production company, so they have no out of pocket expenditure for TV advertising. Now they're also moving into more retail channels, including Target.com,Bed Bath & Beyond, and Walgreen's, to supplement the TV offer. They also are advertising on a Times Square billboard through October 2010. (We'll have to wait to measure the correlation of their billboard ads to traffic accidents.)
Want to hear what savvy marketers sound like? You'll learn a lot. Listen to them here.