- by Rory Ramsden
A product launch strategyis nothing without a vision. The vision provides the reason for you starting the project and to be frank the vision is not about you. It’s about how you can help the people in your market get what they want. Start with a customer centric view and your whole project with put its best foot forward from day one.
But it’s important to define one primary goal for each launch that you do. This goal has to be measurable. A launch is not just about the money you will make although this is a useful way of keeping score. You can also define your success by the number of new prospects you have have added to your launch list. Or how many of those prospects you have converted into buyers. Or how many JV partners you have attracted. Or how much better your offer is converting having been refocused as the result of feedback from new clients.
These are all useful ways that you can measure your success.
Focusing on just one goal doesn’t mean that you have excluded all other possible outcomes. It’s just that this one is the one that you will use to define how well your product launch has performed.
There will be spin-off benefits of course. However, every decision that you make when it comes to your marketing strategy will be informed by your #1 goal
Here are 5 product launch goals to chose from…
#1 Expert Status – This is a powerful place to be. Being the recognized expert in your niche will make you the default authority that everyone turns too when they have a question.
#2 Grow Your Mailing Lists – Yes… launching a new product is a very effective way to build not only your prospect list but also your list of buyers which is 10 times more valuable22
#3 Boost Your Visitor Value – Demonstrating to possible affiliates, how you have increased your visitor value each time you have done a product launch to your list will make it much easier for them to define how much money they will make. A key metric in their decision to promote your stuff to their lists.
#4 Attract JV Partners – May be you’ve already done an internal product launch to your list. If you have, there is little doubt that you have been strutting your stuff to potential JV partners. The smart ones will be on your list and will see how well you are doing. They will come to you asking to promote.
#5 Make Money – Define how much money you would like to make from your product launch. Simply saying… $1,000,000 is probably not realistic so define the amount as a multiple of your existing turnover… say 3 months top line sales in 7 days.
Being clear about your goals will shape your product marketing strategy and give you a road map will allow you to choose which tactics to use to best meet those goals. Think for a minute about what your product launch #1 goal should be. It doesn’t have to be one of the above. But you must be able to define it very clearly.
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