- by Rory Ramsden
Are you looking for a simple step-by-step product launch plan ?
Here’s a simple system that does just that. It’ll take you from positioning your product idea in the first instance through to keeping your new clients from suffering buyers remorse by implementing a successful ‘stick strategy and staying in touch with those that didn’t buy so that they are warm and friendly and ready for your next product launch.
You want your marketing strategy to include a whole series of launches. Stacking them like this will allow you to take the momentum you create in the first one and compound those results with your second. Each time, you do a launch your will power up your ROI and take your business to the next level
So here we go…
#1. Apply Your Expertise to Solve an Existing Problem – Many people get this back to front. They build a product and then try and find a market that wants to buy it. So don’t make that mistake. Follow the money to an existing market where you can apply your expertise to reinvent the solution. People are always looking for easier, quicker ways to solve their problems so putting yourself on the cutting edge will make you the market leader.
#2. Launch Ignition – When you go to market with a new product launch, you want to have primed your audience in advance. They have to understand WHY your offer is especially relevant NOW. Put it in context. How does it fit into the bigger picture ? There are 3 major trends in society. First there is the macro economic and financial driver. Then there are the ever changing attitudes and beliefs in society as a whole. And finally, technology is driving change and opening up new opportunities. The flip side to every opportunity is a threat. This is what your product or service has to solve.
#3. The Common Enemy – Now you have put your finger on the one thing that your audience fears most of all. You have identified the threat that the smart people in your community will ‘get’ straight away. They will engage with you quickly and help you connect with others. Standing shoulder-to-shoulder with them against a common enemy will make you one of the ‘gang’. They will see you as a friend. As someone that they can trust. As an authority who they respect. Building this credibility is vital. Without it, your new product launch will likely be less than sparkling.
#4. Your Value Proposition – It is crucial that you can express what you offer your prospects in less than 140 characters. This is not about you. They have to know what’s in it for them. Ours is “Turning your expertise into income one launch at a time“. It’s simple. It’s concise. It tells you exactly what we can do for you in just 85 characters. What’s yours?
#5. Your Core Myth – Once you have hooked people in with your value proposition, you want to tell them your core myth. This is about how you discovered the solution to their problem. It tells them what makes you different. It’s important that your launch story is properly structured so that it keeps people engaged during your pre-launch sequence.
#6. Benefits or Transformations – Your offer wants to pack a powerful punch. Every product feature has a corresponding advantage. Each advantage has at least one benefit. When you quantify these benefits by relating them to where your prospects are now to where they will be after they have implemented your simple ‘5 step plan‘ [or whatever you are teaching] you take that process one step further. You can show how their lives or business will be transformed.
#7. Proof – During your pre-launch sequence, you want to first anchor what is to follow by reaffirming the opportunity that your community can take advantage of. In your second online event, you teach them a powerful way that they can instantly take advantage of this tip and get results there and then. In your last event, you sum up what happened in the first two and teach a third way that your people can move towards their goal as you show them the ownership experience that they will enjoy. Interwoven in this whole process are layers of powerful proof. Proof that you are not only an expert but also an authority figure that they can trust.
#8. Your Overwhelming Offer – Based on the feedback that you are getting in comments on your product launch blog, you refine your offer. Your goal is to change the question buzzing round in your prospect’s head from ‘Why shouldn’t I buy this ?” to “How can I afford not to buy this ?” That implies that you are giving so much value that buying from you becomes unavoidable [even though you are determined to under promise and over deliver].
#9. Too Good To Be True – You are not perfect. Your product is not perfect. None of us are. Self deprecation is a charming human trait. Make sure that your audience sees you as you are not as some super human who never puts a foot wrong. You’ll be much more believable if you do. Some people call this being ‘authentic’. I call it just being ‘yourself’. Don’t try and be anything else. Your audience will pick you out as insincere almost before you open your mouth.
#10. Social Media – Having used a judicious number of social media marketing techniques in your ‘launch ignition’ phase now is the time to use SM marketing to deliver the ‘coup de grace’. This killer tactic comes at the end of your launch period – the time that your shopping cart is open – To inject a powerful dose of social proof, stage a live event and invite your best clients to join you. This could be a webinar or a Live Stream event on Facebook. Both are excellent ways to encourage people to take action…
#11. Scarcity – If there is an abundant supply of something, there is no urgency to buy it. The reverse is true if there is only a limited amount available. Add to this a time deadline and you push two hot buttons at once. Playing the scarcity card well requires you to express a genuine reason why you have put a strict limit on the number of units available. For instance, if you are a small business, there is a limit to the number of new clients you can handle at any one time AND guarantee good service to each one… That sort of scarcity is something that everyone will understand.
#12. The Product Launch Stick Strategy – As your shopping cart closes, you are really only just getting to the important part, which is to deliver your product quickly and efficiently and make sure that they ‘bond’ with it by making it really easy to consume. This is where your tactic of under-promising and over-delivering pays off big time. Your new customers will be amazed by the quality and value you are giving them. Get this right and you’ll have a customer for life…
It’s that simple. But simple does not mean easy. There are a lot of moving parts in any product launch. Synchronizing the process so it runs smoothly takes some doing. Be reassured by the fact that if you have really engaged with your community, they will forgive you almost anything if your are open and transparent with them. If something goes wrong, say so and tell everyone that you are working flat out to fix it.
The key to a smooth new product launch is to use tried and tested systems. That may mean that, at first glance, you are paying more for tools and services but doing so will pay dividends when the pressure is on. They won’t fail you. You will feel less stressed. You’ll sleep better too…
Did you first product launch run smoothly? What was the one thing that surprised you about it?
if commenting is still enabled on this post, please take a minute to give me an answer to those questions…