The Authority Formula, Higher Prices And Selling More

Product Launch Authority Formula

 

Just when you thought your product launch was ready for lift off, you realize that you are sorely lacking in proof elements to support your pre-launch sequence. Focusing 100% on creating a product and an offer to go with it is essential but if you are unable to provide layer upon layer of proof your launch is going nowhere.

 

So how can you conjure these up if you are unknown in the market

 

You may be recognized by your peer group as an expert in your field but if your audience does not know you from Adam you will not command the price your product is worth and they will feel no remorse on passing on your offer in preference for one that you feel is inferior.

 

Proof Tactic #1. The Big Brand – Andy Jenkins used this one in his first and second Video Boss Launch. Amazon uses video to promote and sell their most successful product – The Kindle – so logically he used this to support his claim that video sells better than anything. Using this implied third party endorsement was a very powerful tactic

He was no longer asking his prospects to take his word for it. By simply pointing at a big brand and saying “if it’s working for them, it is logical to assume that it should work for you too” he invoked the power of the big brand proof tactic. After all, a big company like Amazon is hardly going to invest in video if it doesn’t work, are they?

Another ‘guru’ marketer who has used this tactic is Jeff Walker. In his last ‘Product Launch Formula‘ launch, he used the similarity between the product marketing strategy that Apple uses and the one that he has mastered. There is no doubt that they are pretty much  the same so it seems that there is someone inside the Cupertino Office who is a fan.

Almost every launch they do is a best seller. Sometimes in spite of the pundits which brings me to the number two proof tactic

 

Proof Tactic #2. Track Record – Apple have a stunning track record for innovative new products that disrupt the market. Sometimes by creating an entirely new micro-niche. Combine this with their product launch strategy and their track record and even their most determined detractors have to sit up and take notice

You can use the very same tactic yourself by getting your best clients to give you a personal recommendation. You have to be careful of testimonials for your product as these have been misused in the past and are no longer considered trustworthy. The FTC take a pretty dim view of them too.

But Andy invited one of his Hollywood film buddies to speak for him in his last launch. This was a powerful tactic. They guy – his name escapes me – was involved with the Blair Witch Project, itself a best selling movie so he is an authority that people will instantly relate to even if they have not seen the movie.

That’s one guy with an obvious track record giving a boost to another who also has an impressive on line pedigree.

 

Proof Tactic #3. Social Proof – People hate being left out in the cold when all their friends are doing something together. They want to be involved too. That’s why social media is so effective as a marketing tool if you can get your product launch to go viral even in a small way.

If you land on a launch blog with a vague interest created by an email you’ve received and there are a ton of glowing comments below the video, it very reassuring. They may all be from people you’ve never met but if they are all consistent in their support, it will influence you enough perhaps to stick around and look at the second video when it is released.

In this first in a three-part series on social product launches, let’s have a closer look at social proof.

When a social network begins to buzz about a particular topic, others pay attention to it.  If some of these people have seen or tried a new product, then people listen to what’s being said about it.  The more people who are using the product and saying good things about it, the safer we assume it must be.  After all, it’s what everyone else is doing.

 

Three elements have to exist before a prospect will make the emotional commitment to buy from you…

  • They believe in you
  • They recognize you as an authority
  • And they think that you are a likeable guy

Providing layer upon layer of proof – there are 21 different ones that you could use – is essential if you want to transform yourself from an expert nobody into a known authority that everyone in your niche is happy to do business with again and again.

 

Having this recognition allows you to charge more per unit sold and sell more units too

 

So coming up with an effective strategy for providing proof is critically important. Fortunately, doing a product launch is that strategy.  Having a launch story woven into your pre-launch sequence allows you to deliver proof in an engaging way without being pushy or salesy.

 

If you are a new company without an established brand recognition, stacking one product launch on top of another will get you that recognition just like it did for Apple.

 

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

 

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Rory Ramsden