- by Rory Ramsden
What is the true test of what you believe to be an overwhelming offer ? You may think that you have put the best deal you can on the table. But there is often more you can put into it… a lot more. Bundling in relevant bonuses to support your core product should leave you feeling outside your comfort zone.
Your prospects have to be left in awe by the value you are giving them.
Product marketing strategy – Over-deliver on value, under-deliver on promises
It is only this way that your customers will feel confident to buy from you
Promises are intangibles that require a level of trust before an action can and will be taken. Asking your prospects to trust you is not going to cut it. They are rightly skeptical. They have ‘heard it all before’. That’s why you have to provide so many levels of proof in your pre-launch sequence
So when you finally draw back the red velvet curtain to reveal your offer, your prospects must be left gasping for breath by the value and power it contains. This will trigger the impulse to buy. It is a prerequisite for a successful product launch.
So here are 5 aspects to focus on…
- Deliverables – What form will your product take ?… Big Box, Digital, a Combination?
- Ask your avatar. You know the ideal ‘virtual customer’ that you created during your market research.
- Have you done your competition analysis ? Knowing your competition as well as you know your nearest and dearest will allow you to use pure alchemy to create a product in a form that your market expects or wants but doesn’t know it.
Remember that if Henry Ford had asked his core market what they wanted more than anything by way of personal transport they would have said … A Faster Horse…
This is why I recommend that you do a ‘Seed Launch’ first because you can work with your core market to create their ideal product. This conversation is important to your future success. If your avatar wants you to deliver your home study course digitally then that’s what you’ll do. Don’t make the mistake of thinking you know what your market wants… ASK.
- Bonuses – Which bonuses are the best?
First and foremost your bonuses have to be relevant and support your core product. Some people buy a product just to get hold of the bonuses. They have to have a very high perceived value. Here are some of the different types…
- Core Product Support Bonus – Bundled in with the core product
- Fast Mover Launch Bonus – Dedicated Launch Bonus that goes away after the first few sales
- Added Value Bonus – Announced mid way through your launch to boost sales
- Stick Strategy Bonus #1 – Overcoming Buyer’s Remorse – Announced with days of the close of your shopping cart
- Stick Strategy Bonus #2 – Refund Reduction – To build confidence and reduce the refund rate
- Stick Strategy Bonus #3 – Surprise Bonus – Useful customer retention tactic for membership sites for example
- Guarantee– The longer your guarantee period the better… within reason. Why? It helps to get prospects off the fence and demonstrates your confidence in your offer. ‘Within reason’, because many merchant account providers don’t like to deal with clients who offer long guarantees, it puts too much risk for returns down the road.I suggest you meet in the middle 45-60days. If your product is that good and it works, you won’t have to worry… Must be combined with Stick Strategy Bonus #2.Note: Product marketing strategy – Over-deliver on value, under-deliver on promises – if you have hyped up sales by over-promising, then are perceived to have under-delivered on value your refund rate will be unacceptable to you, your merchant account provider and your joint venture partners – Your credibility will be trashed by everyone.
- Price– What price should you offer your product at?
The product you launch must be carefully tuned to your place on the value staircase. Jumping into the market with a high ticket item may make a splash and give you an ego boost but if that’s what you’re after you are missing the point.
- Trust – There is a direct relationship between your status – the level of trust that is placed in you – in the market place and your ability to get a super successful high price product launch away. It takes time to build up to such exalted heights.
- Test, Test & Test Again – We could talk a million different price points and product marketing strategies here… but the bottom line is test, test and test again. Selling a high ticket item may reduce the number of tire kickers who buy, it may position you well in the market place, it could ensure that you are not leaving money on the table but… You will find that your offer has a natural perceived price point.
- How good is your marketing? – If you’re a marketing genius, you will command higher price points
- Your offer – Here’s a brief list of ideas for your offer:
- Audio/Video as a download
- Case studies
- Quick-start guides
- Special Reports
Now I have a whole bunch of these, but you’ll have to get in touch with me to find out more. We’re both busy people so to help me help you, please complete this super short simple survey…
to schedule a FREE 20 minute one-to one consultation. It’s important that we get on together…
- Push Those Hot Buttons…
- Your Launch Story
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- This 12 Step Launch Strategy will Keep You on Track