Product Launches Work
As you can see, I just interviewed my buddy Kyle Graham from my internet marketing mastermind group right after his successful launch of his own online marketing coaching program.
I want to take you down the road why this was so profitable to Kyle but help you understand some steps so you can get the big picture. These are not all the insights and details obviously, just a beginners view.
Reminder though, before you get into a product launch reviewing these 5 steps to Creating Cash would be a great idea.
Make no mistake. Product launches are a huge part of online marketing and are a major key to unlocking your full potential online.
Why A Product Launch
Why is a product launch important and why do they work?
Product launches are important for several reasons however they are very profitable on the front end as well as the back end. I’m not just talking about money either although that’s a big part of your result.
Product launches affirm you as an authority in your particular niche if done correctly. It can cement the relationship with your prospects and current customers. There are a lot of things that go on when doing a product launch however I’ve seen almost all of my mastermind buddies do one or are currently int he midst of doing one and they have definitely done well.
You also build a responsive list of prospects and or customers when you do a product launch. You may have heard it said before how “the money is in the list.” The key with this phrase is that you can actually make more money from a small list of subscribers where you have a very close relationship with them. Sure you may have a list of 10,000 subscribers however if you haven’t taken the time to build a relationship with the people on that list, your response and conversion rates are dismal.
You really start to understand conversion and why it’s important when doing a product launch. Conversion, meaning how many of your customers buy & why.
You also now have credibility and should have tracked your results. You have a list of responsive prospects & customers so this opens up doors to do Joint Ventures with other people in your niche. Now you’re able to take your business to a whole new level where your customer reach is much easier. You become a “deal magnet!
So again why?
- More Sales
- More Customers
- A More Responsive List of Buyers
- Seen As Authority
- Opens Doors to JV Opportunities
- More Income!
If you want any of these results then you will want to consider a product launch of your product or service online.
What Is A Product Launch
A product launch is when you take your product or service and in a very specific manner, build up anticipation for it only to launch it to your thirsty crowd on a specific day and at a specific time. (This is my dumb down version)
The actual creator of what is known as the Product Launch Formula, Jeff Walker says, “Product launches are Simple, flexible, re-usable, reproducible and are made up of specific tactics & strategies.”
A product launch can be on any kind of product or service. It doesn’t have to have anything to do with internet marketing or making money. I’m actually working with someone right now on launching a Photography product. It actually works better if the market has nothing to do with making money. So don’t think your product or service doesn’t qualify!
How To Do A Product Launch
Well there is no way for me to go through all of the steps of a product launch here in this post however I’ll give you a few insights. Otherwise do not attempt to do one with out someone who knows what they are doing.
- Find out what your crowd wants before you attempt to launch anything. You can do this by surveying your current list or even collecting information from them when you first collect their name & email.
- Create a solution for their problem.
- Figure out ahead of time what your prospects objections will be.
- Map out how you will provide value & create anticipation over the course of a few days or weeks prior to launch date.
I’ve reduced this down to it’s simplicity as well as left out specific details and steps due to time & space.
Product Launch To Come
This gives you the 30,000 foot view so as to get an idea why, what and somewhat how a product launch occurs. There are lots more positive results you receive when doing a product launch however for now I’ll leave it to this general overview.
Why did I even bother to bring it up?
I myself will be going through a small one at the end of June and I’m putting local businesses and Internet marketing into one pot.
Should be fun and I’ll give you more insights after! 🙂
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