- by Rory Ramsden
Having an amazing information product is not enough any more. Your prospects want a complete package that will allow them to consume it in any way they choose, at any time they choose. That might be at home but it is equally likely to be on the move – in the gym, on their commute to work, on a plane or just about anywhere else you can conceive of.
To create a killer offer for your product launch, you have to put yourself in your potential customer’s shoes and ask yourself what you can add to your product to make it easier to engage with and what you can bundle in with it that will help him get fast and effective results.
Your aim is to leave your prospects asking themselves whether they can afford to miss out on such fantastic value. The price will shrink in importance because your offer is so overwhelming that they’d be mad to pass on it.
In short, you have to stack the “Risk to ROI Equation” so heavily in your prospects favor that pushing the ‘Buy Now’ button is the obvious move to make.
Your product launch sequence may have your crowd buzzing with anticipation but if your offer does not fulfill their expectations and more your sales will disappoint
Here are 5 crucial elements to consider when alchemizing your offer
#1. Match Your Message to the Market’s Expectations
Talking to your prospects in the language they expect is crucial. Every tribe has its own slang. That way they can easily recognize each other. It’s kind of like a secret handshake. They know they have found a friend when they hear the ‘code’ words.
Putting your finger on their pain points shows that you know how they feel. You join the conversation going on inside their heads just as they are rehearsing the same old battle between positive and negative… between ‘shall I buy’ and ‘shan’t I buy’. You stir their emotions in a primal way.
They identify with you. They see you as part of their community. They accept you and bond with you. They suspend disbelief and give you the benefit of the doubt. This gives you time to provide proof that you are who you say you are not just a guy with a big hat and no cattle.
#2. Stack the Value
Slice and dice your product to deliver it in as many different modalities as possible – Video, audio, text – So it can be dipped into at any time any place. Then add a quick start guide, check lists, resource manuals, case studies, hard copies and much much more.
Bundle in supporting bonuses that actually OUT-VALUE the product itself. The ones that make it easier to start using your product now and get quick results.
You may say… “Who cares whether they use it? They bought it didn’t they?” That, my friend is the wrong attitude if your desire is to build a long term business. Your customers are your most valuable asset. Getting a new one is an expensive business.
Make sure that you under promise and over deliver on value. When your product launch is over, you need to have a variety of unannounced bonuses to give away at crucial moments – the end of your guarantee period, for instance – or just when you feel like it, to say thank you to your customers for being your customers.
#3. Build in Scarcity
If there is an abundant supply… That is, yours is a digital product, how can you build in scarcity or even a deadline on your offer?
Simply state that your product launch will run for 5 days only. It’s your offer, it’s your choice
Then invoke scarcity using the “Unexpected Wallet Disaster‘… People know that stuff happens every day. You don’t know when the tax man is going to hit you with an unexpected bill or your daughter is going to announce she wants to get married or your son totals the family car… Stuff happens, so this form of deadline is completely understandable [just make sure that your ‘unexpected wallet disaster’ is 100% genuine]
The second way is to add a special bonus to your offer for people who buy by a specified date. This fast action bonus will get your raving fans on board early and allow you to send out a mail to everyone on your launch list including those hanging back thanking them for their business. This is social proof in disguise and will help get others off the fence.
Thirdly, as you get close to the end of your product launch, add another bonus for everyone who buys before the close. Stacking the bonuses like this, pushes people to take action
And finally, there is the 24 hour cart re-open… Credit cards payments get declined all the time and this is an opportunity to put those failed sales back on the market. Don’t forget to specify exactly how many are available and state that they will be sold on a first come first served basis
There are other ways to play the scarcity card but that’s all I have space for here
#4. Remove The Risk
Take all the risk on your shoulders. Offer a money back guarantee for any reason or no reason at all. 30 days is standard but you can go longer if you wish. The longer the guarantee period, the less likely you are to get returns but be careful to take a careful look at your payment terms when deciding this.
If you are launching a membership site, you can give access before your product launch goes live. This allows your prospects to go in an kick the tires. Just make some sample content available. Leave all of the drop down menus in place but restrict access to the associated content.
Your prospects can see the full extent of what they are going to buy. It’s a great way of building confidence and excitement just before you open your shopping cart. Combine this with a one month free trial and you will boost conversions.
If for any reason whatsoever they aren’t happy, they simply cancel their membership and they’re never billed. This is a complete risk reversal and the goal here is to get as many people into the front-end of your sales process as possible.
#5. Payment Terms
In these trying times, people may want to buy when they really shouldn’t. They should be sure that their finances are on a sound basis. They will not thank you later when they cannot find next month’s rent. You don’t want to be responsible for such anguish and regret. So tell them to hold off for a better time.
Then there are other people who have all the money they need and are happy to pay the whole price straight away. To encourage such clients, offer an exceptional bonus by way of a thank you. This could be special access to you in a one-to-one telephone call or 2 free tickets to your next live event.
The second option is the multi-pay system where your new clients pay slightly more over a period of months. This has been proven to boost conversions by 5 times.
The only way to know what works best for you is to test it.
That goes for the price too. Do one beta product launch at one price and another at a second price. Does the more expensive one reduce your total top line sales figure? It’s not necessarily about how many sales you make but the ROI on each sale. You don’t want to leave money on the table.
#6. Tell Them Exactly What To Do Next
Once you have laid out you offer in detail, don’t forget to tell people exactly what to do next and what to expect when they have done it.
So you might say… All you have to do now is press the orange ‘buy now’ button and you’ll be taken to the next page where you can fill in your details and choose whether you want to pay by credit card, PayPal, Worldpay or…. when you’ve done that you will be taken straight to the download page and within 5 minutes, you can start enjoying XXX
Don’t beat about the push… Come straight out and tell people what to do. It’s not hard but many marketers fail to do it in a simple easy manner.
Those are the basics to creating a killer offer that your prospects can’t say no to… Doing this effectively is crucial to the success of your product launch so make sure that you bundle in as much value as possible and stack the “Risk to ROI Equation” so heavily in your prospects favor that pushing the ‘Buy Now’ button is the obvious move to make.
There are a lot of moving parts in a product launch but this is one of the most important ones.
The question is… Would you hire yourself to manage your own product launch?
If the answer is NO… You may be wondering how much hiring a product launch manager will cost and the quick answer is not as much as you might expect. Our aim is to structure a win-win sort of a deal with clients. We get paid when you get paid. That is we work on a percentage of the ‘pre-return’s gross’ revenue that your product launch makes. Naturally, you have to pay a fee to get on our calendar. We can only take on 2 or 3 clients per year so our time is valuable and we must know what our schedule is well in advance. It would be unfair on our other clients if we didn’t insist on this. Find out more by booking a free consultation with me now