Yeah these are excellent points and questions – definitely something I’ve thought about and wonder what the market size is for these.
There are a couple of reasons I’m hesitant and @MRobi hit on the major one:
- Does the risk outweigh the reward? I’m not sure and unfortunately I don’t have an marketing insights department that can give me some quantitative data that shows the market size and opportunity. And as he mentioned, it’s very difficult to recover from a failed product (our light strip for example is a good case-study)
- While light strips were sort of mainstream at the time, there were no Z-Wave options and no “ready to market” options that had built in animations nor the customization you could do with ours – we thought we had a winner
- Unfortunately, what I believe happened was that we were priced way too high (you could argue that Hue was priced the same, if not more, but they also have brand recognition and a ton of other lighting products to choose from) and no one outside of enthusiasts care about Z-Wave so they couldn’t justify the high price. In addition, while the research showed that people loved all the animations and cool colors, I still think it was a novelty for most people and again, hard to justify the price on that.
- The next point that gives me caution is also what @MRobi mentioned that I’ll take a step further – there are no other companies out there doing this, so there’s some sort of reason. This isn’t new technology like mmWave, so it’s not a matter of them not knowing about this opportunity, so that leads me to believe the opportunity size may not be there (although, the counterargument would be that it may not be enough for a large company, but enough small opportunities for a smaller company add up - which is what I’d like to quantify)
- Finally, our strategy has always been (aside from the mmWave switch) to take something that exists currently (and has a strong demand for) and make it the best there is - spend enough time on it that it will be hard to replicate and stay up-to-date with firmware/community feedback that we’re always on the cutting edge
NET: I definitely have thought about this as well, but without the qualitative data and internal capital, it’s hard to justify it. Whereas with A19/BR30, those are products that are currently in market (and have a high demand for) and we believe there are still some opportunities to explore that haven’t been developed by the competition yet.
In other words, the reason for this pole was to understand where we should start – RGBW or CCT. The actual bulb itself that we create is going to be different than all other bulbs out there, this won’t be your generic RGBW/CCT A19/BR30. I just don’t want to share the idea yet as I know the competition stalks these threads.
Excellent point and pushback - and generally I would agree. There’s no way we can compete with just a basic A19/BR30. Even with some firmware tweaks, it would be hard to compete from multiple 4P (where are my marketing guys out there lol?) perspectives (pricing and product).
From a price standpoint, we’ll never be low enough to compete with IKEA nor the other random Chinese companies that have decent enough Zigbee/Matter bulbs. So, we can’t count on pricing to sell for us – which is fine as I’ve come to that realization a while back when I tried to have a less expensive Z-Wave switch (Black Series).
Where we shine is typically from a product standpoint – As mentioned, we try to make the best product there is and are priced accordingly. There’s only so much you can do with a light bulb. We can certainly add in some firmware features that aren’t currently in market, but even with those, I bet we’d still be at a $10-15 difference depending on how hard we lean in on CRI/Lumens, etc. Speaking of hardware, there is a definite need for a high CRI/Lumen option – but still, these are so niche that I don’t think mass market really cares.
So we have to come out with something that really justifies that price premium and I believe we have the answer
Just needed to understand where to start from a color standpoint because if we only have one shot, I don’t want to blow it.
Me too
Yeah certainly and this is something that admittedly I don’t know as much as many others in this thread do, but I’d like to learn more.
When it comes to our brand and marketing our products, we try to aim for the best product we can come up with even when it may cost more as we’re not targeting the customer who wants the lowest priced products. Part of that best product is obviously the hardware which, as I’m learning quickly entails the details like CRI/RA, etc.
So what I’d like to do when we move this project forward is get some of you on the beta team who can give us some input in the hardware. In fact, I’d probably see if some of you can help me with briefing the manufacturer so they know what to come back with from an estimate standpoint.