- by Rory Ramsden
The Rule of 5 is that each and every piece of content that you develop should be fungible.
That is, you should present in at least 5 different ways and boost its perceived value by at least ten times making your new product launch more profitable.
All this without much more work
In fact quite the reverse. The lion’s share of your time will be taken up with doing the initial market research, positioning and concept development. This tactic simply ensures that you get the best return on your investment.
Let me explain…
You may have done a series of tele-seminars with known expert commentators or authors as part of a seed launch – the first step in your product launch sequence- and recorded the events to replay later
Why not get those recordings transcribed, edited and transformed into a white paper or ebook. Make checklists of the key points. Produce workbooks so your customers can step through the process by themselves. Create a series of screen capture videos and strip out the audio tracks as MP3s that your customers can listen to in the car.
This powerful tactic boosts your customer value and leverages the original time spent interviewing those expert authorities.
You delivered the ‘what to do’ for free. Now you are selling the ‘how to do it’ as a multi-media home study course including video, mp3, ebook, checklists and workbooks. Not forgetting the original tele-seminar recordings.
That makes 6 different ways to use the original interview material
What started as an altruistic initiative to position yourself as a recognized authority in your market by associating yourself with known expert commentators and authors has actually turned itself into a clever product development plan – otherwise known as a seed launch – in which your audience has been engaged in refining the output by asking questions.
Questions are objections in disguise
Those questions are invaluable. One or two may have been objections that you had not thought of. Verifying your original market research in this way is essential to refining and focusing your concept.
But Wait – there’s more …
You now have the means to create an overwhelming offer, add bonuses for fast movers and develop a back end
NB. If you’re in the clicks-and-mortar business or e-commerce, you can use the same principle to boost the value of your product and differentiate it from similar products sold by the competition
The next step is to hire a product launch manager to guide you through the launch process.