So you have created a product that you think will change the world! You’ve spent weeks, months or even years thinking about this product and how it would help people change their life or business…or both.
You know that if you could just get in front of enough people that they will fall in love with it as much as you do.
So you go buy the latest course on how to launch products on the internet. You get all the fancy shmancy tools that all the ‘gurus’ are using like the latest email autoresponder software, landing page builders, maybe you even bought another course on copywriting.
You say to yourself…”Self…we are going to crush this. We’ve got everything we need!”
You watched all of the videos in the course about how to create your pre-launch content and you are working on your lead magnet that you’re sure everyone will want.
You are on your way to sitting on a yacht in the Caribbean somewhere sipping a fruity drink and spending time with your family.
If it were only that easy.
Look…product launches are great way to promote your incredible world changing product.
Product launches work. They have for a long time.
People like Jeff Walker make millions selling a course that teaches you the ins and outs of how to launch a product.
He essentially makes millions launching a product about how to launch a product. How great is that!
Only one problem. You aren’t Jeff Walker.
You don’t have the recognition or the ability he has to clearly communicate what his product does.
You only get that after doing these launches for a while and perfecting the process.
Now I’m not saying that it can’t be done, but I’ve seen a lot of people by his Product Launch Formula and think that they are going to make tons of cash but end up overwhelmed and confused about where to start.
You first product launch is very rarely a massive home run.
AND…you need more systems in place than just a product and what Jeff Walker told you to do.
Here are my top 5 must haves for anyone planning to launch a product. Ready?
#1 A Really Great Product
Sounds kinda obvious I know, but you would be surprised how many people I talk to who are in the process of putting together a product launch but they still haven’t ironed out the details of their product.
They may not have even sold a single product…YIKES!
I recommend that before you go out and spend thousands on a product launch you test the market.
See if people actually want what you are selling.
You could even give away your product for free to a handful of people in exchange for them giving you feedback and if they like it maybe even give you a testimonial or two. Hey, I’ve heard those can come in handy when selling stuff. Just a thought.
Get feedback from the few initial customers and use that to refine and improve your product. You can also use this valuable information to improve your ads, lead magnets, opt-in pages, sales pages, emails…the list goes on and on.
How do you test the market?
One great way to test is to come up with a lead magnet that is directly related to your core offer. Run Facebook ads to an opt-in and see if people are interested in giving you their name and email in exchange for more info.
Create what Ryan Deiss and the folks at Digital Marketer have termed a ‘Tripwire’. A tripwire is a low-cost product that’s basically a splintered off piece of your core offer that you can sell for around $7-$10.
If you are getting a good cost per lead and people are buying your tripwire that’s a good sign that your core offer might have an audience of people looking for solutions to a problem your product can solve.
Don’t go trying to do a full blown Jeff Walker style product launch for a product that nobody has ever bought before.
#2 An Email List
Remember when I said you could email your list and ask them to buy your product or at least test it out for you?
Well…what if you don’t have a list?
Go get one. No seriously…start building your list as soon as possible.
You see when Jeff Walker or Frank Kern or Russell Brunson or (Insert internet guru’s name here) do a product launch they rely heavily on promoting to their existing list.
Yes, you can get a lot of people on your email list by doing a launch but wouldn’t it be easier to launch a product to a bunch of people that are already on your list?
Yeah, it is.
Start building your list early. Do it BEFORE you have a product launch.
Remember when I said that you could get feedback from people and use it to refine your product and your marketing?
This isn’t just me making stuff up as I go along here…this is sage advise people.
Build a list by coming up with really great lead magnets and promote those with paid traffic like Facebook ads.
Then survey those fine folks and actually ASK THEM WHAT THEY NEED HELP WITH.
You might be surprised at the insight you could gain from this.
#3. Lead Magnet
Ahhh…the old lead magnet. A time-tested and proven way to get people to turn over that valuable email address that you will use to sell them your amazing product later.
Do you know how to come up with a lead magnet? You probably think you do. But I see a lot of people come up with sucky ones.
You need to think backward. What I mean is you need to think about your core offer, you know that thing you are going to be launching.
What problem does it solve? Now think about all the little problems that will arise in your prospect’s life before they realize they need your main product.
Make your lead magnet something that solves a quick problem for your audience. It should provide a simple solution to something that is only part of a much larger problem.
The goal of the lead magnet is to provide value to your prospect. Let me say this again…PROVIDE VALUE.
Don’t just try to pass off some old lame report you copy and pasted from somewhere else. It should be something that people are impressed with.
Remember, this could be someone’s first interaction with you or your company. It’s like the old saying goes…”You only get one chance to make a first impression”.
Make sure that after someone gets your lead magnet that the natural progression would be to buy your tripwire product and eventually buy your core offer.
I’ve seen great results from using cheat sheets, checklists and simple easy to consume lead magnets.
You can also use webinars, livestreams, or a video series.
Just make sure it doesn’t suck
#4 A Funnel
So you have tested the market and got some solid feedback. Maybe you even sold your product to a few people and you are stoked.
You have a strong lead magnet, a low price tripwire that people will actually pay for and you’re feeling good about things.
Now comes the fun part.
Having people opt-in for your lead magnet is only the beginning. You need to have a strong follow-up process that takes them from lead to customer.
Most product launch funnels work like this:
- A paid traffic campaign is launched to promote your lead magnet (Facebook ads usually)
- People opt-in for your lead magnet, something like a 4 part video series or webinar
- These people get pulled through the funnel with smart email copy and a combination of Facebook retargeting ads
- If you have affiliates promoting for you then they start to email their list and maybe promoting the launch with paid ads
- The cart opens!
- Hurry up before this cart closes
- Cart is closing we mean it
- No really…get it now
- We decided that the demand is so high and we REALLY want you to get this product so we are re-opening the cart for one more day!
- Okay now it’s closed
- Hopefully, everything worked like a charm and we count our millions
For some folks, it works just like that. For some others…not so much.
Having all of the pieces in place that move a prospect from being just interested to being a full-fledged customer is a lot of work.
No matter what email follow-up software you use (We recommend Infusionsoft or Active Campaign) there is going to be a lot to piece together and test to make sure that when launch day comes, you are ready.
If the first thing you think of when you hear funnel is a tornado or funnel cake (I like those too) then you will need to get educated on how a funnel works and how it can benefit your online business.
#5 A Team to Help You Get It All Done
Selling your stuff online can be challenging.
You need to know how to set up Facebook ads, Instagram ads, Google ads, Twitter…yada yada yada.
There’s opt-in pages, tripwire sales pages, email funnels, and more.
Email copy to write, developing your product, building out a membership site.
Not to mention as soon as you learn some of this stuff they change it. It’s impossible to do it all and still focus on making sure that your customers are taken care of.
You should be working ON your business, not IN your business.
The people you see online that sell tons of products and have huge followings all have one thing in common…they have a team they work with to help them accomplish their goals.
Don’t try to be a master of Facebook ads or an Infusionsoft ninja. Don’t spend hours trying to create an opt-in page or make sure your retargeting pixels are set up right.
Have a team in place that understands how this type of marketing should work.
You need to concentrate on delivering insane value and figuring out what kind of yacht to buy.