- by Rory Ramsden
Don’t be daunted by the idea of doing a product launch. It’s not rocket science
These are the 3 basic necessities
First Find The Right Audience
It costs almost as much to create a cheap bottle as it does to create an expensive one. A st.Emillion Grand Cru Classe sells for 10 times the amount of a bottle of plonk so if you want to make the maximum return on your investment from your product launch it makes sense to find a market full of people who will naturally buy the most expensive products.
Second, Know Your Competition
Sun Tzu, the ancient chinese warrior-sage, said that you must know your enemy. Doing a thorough SWAT analysis of your competition will help you position your product so that it stands the biggest chance of success.
Knowing your competition allows you to innovate and come up with an original idea that sets you apart. Being on the bleeding edge with a proven product or service sets you apart from your competitors and makes you a thought leader in your segment of the market.
Being in this position is a very powerful place to be. You are seen as the authority, the trusted adviser. With this expert status everyone turns to you for the solution. As such, you can can charge premium prices and have your clients thank you for the opportunity to buy from you
Third, Create a Product That Resonates With Your Market and Sell it at a Premium Price
Now you have completed steps 1 and 2, it’s time to start zeroing your product in on your avatar’s core frustrations. For very feature your product might have there has to be a benefit. After all, your clients have only one question in mind and that is
“What will it do for me ?”
They won’t care about you or your beloved product if it does not fulfill their desires. People buy things because they want them not because they need them. The bigger the desire, the more they will pay so make sure that your product resonates with your market and you will get the best ROI possible.
These are the 3 keys to product launch success