- by Rory Ramsden
Thinking long terms is all about having a vision of what your business will looklike three years down the line. Putting all your product creation ideas and all the opportunities you are offered into this context, helps you quickly decide whether they will bring you closer to achieving your goal.
And yet, experience tells me that there are few people out there who take such a strategic approach. If for no other reason than you will gain insights that few others have, I suggest you take some time to read this post because I’ll be sharing some behind the scenes tips into doing a product launch that people tend to overlook.
#1. Your Product line – Having a line of products that are all inter-related in some way, will enable you to cross promote each product to different customer lists and boost customer value.
#2. Your best customers will leave you – if you are not in a position to sell your best customers more than one product they will surely leave you to buy what they are looking for from one of your competitors
#3. Having a product line will help you build long term relationships with your affiliates and JV partners. Having one killer offer that converts like gangbusters is all very well but with a line of products to offer your affiliates, you will effectively be offering them a gold mine which they can dip into whenever they are short of revenue. It’s far easier for them to work with one trusted partner than a series of new ones who may not share the same philosophy.
#4. Doing a big external product launch with lots of partners is hard work for sure but what most people don’t realise is that you will be paying out a minimum of your gross revenue in commissions, JV competition prizes and, God forbid, refunds.
#5. You want to turn your highly tuned product launch sales funnel into an evergreen launch. One that will drive funds to your bottom line on autopilot while you develop your next killer offer.
#6. Never plan on doing one product launch – You want to think in sequences. Each launch should be followed by a feedback survey and then an optimisation process. If you don’t consistently go through this three step process you will be leaving money on the table for sure.
Launches are a great way to get a quick cash infusion and jump start your business, but without a vision of where you want to take your business in the medium to long term you will find yourself struggling.
Oh, and by the way, 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. 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