A product launch is exactly what it sounds like, a build-up and launch of an exciting new product or service. These happen every day – the release of a new iPhone or Android device, fast food chains announcing a new limited-time menu item, or even a car company revealing a new model.
Each time, they create huge buzz around the new product, releasing “specs” and leaking details periodically until it finally is released and everyone goes crazy trying to buy it first. You can imagine how much money they make on launch day alone.
As an Expertpreneur®, you can easily incorporate this model into your business by launching a new info product, event, or service. All by implementing a simple system using your CRM software.
If you do, you can give your sluggish business the shock it needs with a huge shot of income and a flood of new clients. That's why this week, I'm showing you the process for creating a successful product launch – one of the most valuable systems you can use.
You'll discover the one key to the success of any product launch…
A “tool of the trade” to generate the buzz you need for optimal sales…
And how to get as many sales on the last day of a launch as you do on the first…
The most important element of a product launch is the set up. You can have the most accessible, useful, and actionable product in the world and still not have it perform the way you hoped, because it's all about the lead-in.
Why? Product launches live and die on anticipation. Anticipation is the key to generating the rabid desire for your product and huge numbers of sales on day one.
You need to get people excited about a new solution to a problem that keeps them up at night, or a way to achieve their wildest dreams. The best way to start this process is by setting up a pre-launch email series.
Much like your webinar series, you want each of your emails to cover either different pain points that keep your clients up at night or big goals they hope to achieve. That way you reach as much of your audience as possible.
In every email you should have a link to the “landing page” for a special Free content series you are releasing. The landing page should leverage the content as exclusive to those who sign up, extremely valuable, and go through benefits your prospects stand to gain by signing up and what they stand to lose if they don't.
Ultimately, this list will be your product launch list.
In addition to this, you want to arrange it so your JV Partners and Affiliates are sending emails directing their list to the same landing page. The more people who sign up for your list and your launch, the more profits you stand to make.
For the content, you want to develop a series of three to five strong pieces related to the product or service you are about to launch. They work best as videos, though you can use any modality you'd like.
This series needs to be full of tools, strategies, and intelligence on whatever topic your product covers. Most importantly, they need to be actionable, informative, and very valuable.
A word of caution: you don't want to mention the product at all – this whole series should just focus on helping your prospects overcome an obstacle they're facing, finding a solution to a pressing problem, or achieving a dream.
However, in the final video, after you've gone through your content, you can finally present the sales message for your product. This is a slow reveal of a way for your prospect to take their education to a new level, what they stand to lose by not working with an expert like you, and all of the amazing bonuses that come with taking action immediately.
Then you showcase the product and announce that it's releasing tomorrow.
As a response booster, add scarcity to the offer. You can gain a lot of momentum by offering a super special bonus only available to the first fifty people who buy the product – called a “fast mover bonus.” Explain how great it is, how it will set them apart from everyone else, and give them a huge advantage in their lives.
Believe me, your prospects will scramble to buy your product first so they get the special bonus. Putting you in a position to earn a lot of money on day one.
Houston, We're a Go
Your “Pre-Launch” begins, when your JV Partners and Affiliates are doing their job, and you release Part 1 of the content series you've created. Then Part 2 and Part 3 over the course of a week and a half or so.
Each new video should be a huge event. You want to announce it to your list and have your JV Partners and Affiliates send emails to their lists to make sure everyone is aware. In addition to that, once it's been released, it's best to send follow up emails with links to the videos and a teaser of the big benefits they may have missed out on.
Finally, when your fourth video is released, they will see the sales message you created. Officially launching your product.
Now, since you're releasing your product the next day, use this window to contact everybody on your list with a teaser about a huge announcement in your latest content video. Have your JV and Affiliates do the same.
You want as many people waiting with baited breath for your product as possible. When “tomorrow” comes… it will sell like gangbusters if you've done a good job so far.
The day of the launch can be a frenzied experience. There are emails and buzz coming from all directions, and you have the added element of a special bonus for first buyers. You could very well have technical difficulties from the sheer volume of orders being placed!
The huge injection of income you get from this will be incredible and very exciting. However, your work isn't done yet.
Your first fifty orders will come fast because of the special “Fast Movers Bonus.” Once that happens, you want to send an email out letting everyone know the bonus is gone, which creates social proof that others found value in your offer. Then, you announce a new special offer for everyone else, with a specific value attached. For them, it's totally free if they buy the product.
The first week of launch is a lot of this kind of activity – sending promotions to your list, having your JV partners do the same, and offering even more free valuable content.
After you've launched, you can offer live webinars, video streams, or Google+ Hangouts. These are great for live Q&A sessions where you have attendees bring up their objections so you can address them. At the end of the live event, make the product available and offer a special bonus to those who attended.
You could send emails showcasing the bonuses that will come with your product. Bonuses are high-value items that ideally don't cost a lot to produce: digital products, videos, podcasts, tickets to a live event… you name it.
Lay them out in each email and make them as exciting and enticing as the product itself. If you position your bonuses well, they can do a lot of the selling for you.
Another great tactic is to run a contest with free access to your product as the grand prize. Have prospects record a short video about what they hope to accomplish with it, and have them submit it to you in a public area where everyone else can see. Once the deadline approaches, announce the winner to everyone on the list.
After this jam-packed week, your launch will move into the final phase…
The Final Countdown
The second week is when you bring out “big-gun” promotions, your JV Partners and Affiliates make special “launch bonus” offers of their own, and you target big triggers like scarcity, urgency and greed, among others.
Let them know they have to get it now because you're closing down the cart in a week.
And once it's closed, you may never offer it again.
At this stage, your prospects know there are a lot of different bonus offers being thrown around. There's a good chance they're going to shop around to find the best launch bonuses from your JV partners. To combat that, you want to make the last three or four days of communications a “scarcity countdown play.”
This process is a lot like how Disney releases movies from their “vault.” The idea is to generate buzz for a “new release” for a limited time until it disappears.
What you want to do is continually send emails throughout that week reminding those on your list that the product is going away soon. Every single day, especially the final day.
When people know there is a deadline and they risk missing out, they tend to pull the trigger. So, this little strategy will get you a lot more purchases on the final day of the product launch. Possibly as many as you got on the first day!
Since you created a special launch list, you can remind people that they signed up because they were looking to achieve their dream or solve their big problem, and yet they haven't bought the product. Challenge them: are they really committed to seeing their transformation? Or were they not really serious in the first place?
These questions trigger feelings of guilt and missing out on an opportunity. Great ways to get people to buy if they're on the fence.
Believe it or not, with all of these communications, the final day of your product launch could have the same number of sales as the first, if not more. Letting you end your big event on a high note.
Get Huge Income Fast
Product launches are huge processes. They involve a lot of prep, planning, and hard work. However, there is no better way to inject a HUGE amount of money into your business in one fell swoop. While elevating your expert status in your market.
You could feasibly make profits in the 5 or 6 figure range in just one week depending on the price of the product, size of your list, and effectiveness of your copy. That's why you should seriously consider delegating the copywriting to a professional if you aren't confident in your own skills.
This process could take a month, but wouldn't you say that a month of hard work and concentration is worth that kind of return? How many people can say they've generated that kind of money in such a short amount of time?
The next time you are thinking of developing a product, think about how you can launch it in a way to generate huge buzz and profits. It will do wonders for your business, getting you closer to the Easy, Simple, and Lucrative life you've dreamed of.