- by Rory Ramsden
It’s almost 2012 and if you’re like most other small business owners – you’re probably drafting your marketing strategyfor the New Year. Inevitably this should include when and how you will launch new products or services. You may even have some hot priorities that you feel you just have to get out there earning their keep as soon as possible.
But, before you put your head down and go into launch mode take a second to step back to consider whether you use the ‘hope’ marketing strategy – just putting your new product up on a website and hoping that someone will buy it – or whether you have launch marketing proven system – a template that works every time – that engages your prospects, creates excitement and delivers value before you have even come to mention your offer.
If your answer is the former, it’s time for an update. Find out how Apple makes millions and has queues of hungry buyers forming a line round the block every time they do a product launch
If your answer is the latter, here are 6 powerful secrets to squeeze every last dime of ROI from your next product launch. Just remember that adding a digital element to your launch boosts revenue without adding commensurate costs so even if your selling a physical product it’s a tremendous way to add value, differentiate your offer and make more money – take a look at this product launch cost/benefit analysis now –
#1 Secret: Big Idea – What’s your big idea? The one that will rock people back on their heels and jolt them out of their stupor. Unless you have one, your product is condemned to be a commodity. That is you can only sell it on price difference. Grabbing people’s crocodile brain – the one that makes all the decisions based on gut reaction – by expressing simple yet powerful concepts that push their hot buttons and make them want to know more is crucial. If you cannot do this in the first 10 seconds you meet someone or they land on your page, you have lost them. They’re gone and you’re history. Have you nailed it?
#2 Secret: Difference – What is it about your product that sets it apart from the competition? Ideally, you want to re-invent the solution to an age old problem. Disrupting the market like this puts on the leading edge because you are providing something new and exciting. People are prepared to pay more for something that is quicker and easier to use so make sure that you are ahead of the game by being different. The way you communicate this is through your product launch story. This is all about the problem facing your audience. It’s about your vision. It tells people why you are in business. You speak their language. You express their emotions and attitudes and they identify with you. Have you drafted your launch story?
#3 Secret: Context – You don’t want to just haphazardly decide to launch something. You want to lay the ground. Put it in context. Build authority. And execute an ignition sequence. This starts 3 months before your pre-launch with teaser mails to your potential JV partners headed… “Set aside these dates…” Then moves to referencing the major threat that is facing your niche and its implications. It’s best to do this by putting out a special report or manifesto. The more counter intuitive your position seems to be, the more waves you will create on the social media platforms. People start searching for more information on you. You get on more and more people’s radar before you ramp it up even more with controversial blog posts. Grabbing people’s attention is essential if you want your launch to reach terminal velocity instantly. What’s your product launch ignition sequence look like?
#4 Secret: Launch Stacking – Expecting to do a million dollar launch straight out of the gate is unrealistic. First you want to optimize your offer. Fine tune your core product. Taking the kinks out of your sales funnel is an essential first step too. To do this effectively you want to plan a series of product launches. The first two or three to just a limited number of your prospects. That way you can get feedback and do the necessary to boost your conversion rate. Now you can go to affiliates with solid numbers – actually it’s more likely that they will come to you – nothing attracts powerful promotional partners than an offer that converts like crazy… This cost/benefit analysis proves my point Have you done a realistic launch budget yet?
#5 Secret: The Value Staircase – Winning a new client is probably the most expensive investment that your business will ever make so it’s plane crazy to trash all that time and money by not making sure that your new customer is more than pleased with the value that he gets when he does business with you. Turning a new client into a good client and then one of your best clients requires you to under promise and over deliver. AND have a series of offers that you can make to him or her. For, make no mistake, even your best clients will leave you if you’re not able to sell them something else. Having a range of related products or services is vital to the long term health of your business. How many products or services can you offer ?
#6 Secret: Following Through – Once your cart closes and you shut down your product launch, you move quickly into the delivery phase. Now you have to deliver on your promises and get your new customers to consume what they have bought. Making it as easy as possible for them to do this will reduce returns and extinguish buyers remorse. But remember that if only 5% of your people pulled out the plastic to buy from you, there are still another 95% who didn’t. Make sure that you continue to communicate with these folks. They will appreciate hearing from you if you follow through with more valuable tips and posts that help them move closer to their goals. When it comes to your next product launch some of these guys will be standing at the front of the line to buy from you… Do you have a stick strategy?
Your Assignment –
What are your launch plans for 2012? Do you have a new product or program you’re ready to launch? OK, start now by jotting down 2-3 action steps that you can take from each of my 6 launch secrets above to ensure you start your launch off on the right foot. Then find out more about how to plan and execute a successful product launch, by contacting me. Even if you have not done a launch before or even if you have and now realize that hiring a launch manager would be a smart thing to do, you may be wondering how much hiring a product launch manager will cost.
The quick answer is not as much as you might expect. First and foremost we focus on delivering value. We aim to transform your launch from a bottle rocket into an intercontinental ballistic missile. Our aim is to structure a win-win sort of a deal with clients. We get paid when you get paid. We can only take on 2 or 3 clients per year so we can be sure that your product launch gets the attention it deserves. It would be unfair on our other clients if we didn’t insist on this. So you’ll appreciate that we have to be just as careful as you are when choosing clients to work with. Find out more by booking a free consultation with me now