- by Rory Ramsden
The success of your product launch is founded on the following 4 proof of concept questions…
1. Who is your core market ?
Having a clear picture of who your ideal client will focus your energies on creating a product which best helps them.
2. Can You sell them a premium price product ?
Being able to sell at a premium price will ensure you get out more than you put in.
3. Who are your competitors ?
Doing a thorough analysis of your competitors strengths and weaknesses will allow you to position your product to your best advantage
4. What are your core strengths ?
Knowing what you can bring to the market in terms of your own capabilities is vital.
Most marketers focus on the first two questions and forget the last two.
But if you want your product launch to be a success, doing a SWAT analysis on your competitors followed by a TAWS analysis on yourself is essential to give you clarity. The clarity to design a product that makes the most of what you have to offer whilst attacking your competitors market position at their weakest point.
So here’s the quickest way of getting valid answers before you waste valuable time developing a product for which there is no demand.
- Write your sales letter.
- Make a screen capture video of it.
- Post it on a squeeze page.
- Drive some PPC traffic or if you already have a mailing list simply segment your list and invite a sample to opt in.
- Watch the conversion rates as you tweak the video.
You’ll know pretty quickly if you are onto something.
And another thing
Proving your concept like this is quick and simple. You can test one idea against another and make your decision on which one to run with based on real data rather than a gut feeling.
Now that you have proved that there is a demand.
The next step is to invite the people on your new list to attend a free webinar where you lay out your concept in even more detail. Your purpose is to elicit questions from the audience. Take careful notes. You are in the process of creating a product with the help of your market.
In product launch terms, this is a seed launch
Got That ? If this strategy appeals to you but you’re not sure how to implement it, leave a comment below and I’ll get back to you asap…