Product Launches are all about building desire and momentum. They are about letting the marketplace know ahead of time when a product will be available for sale. The idea behind it is to increase anticipation and hence a greater uptake of the final offer – more awareness, more prospects, more sales by the time the product is available it is expected to produce a small (or large) explosion of interest based on pent-up demand.
Increase your chances of a successful Product Launch by adopting these 5 strategies!
1. Create Lots of Buzz!
This is where you start to build anticipation and desire for the product. Think about how the movie industry launches a movie. Well ahead of release date they send out stories about their movie stars; release trailers of the juicy bits from the movie; do lots of star appearances … you get the idea. By the time the movie is released, there is a rush for seats and huge ticket sales are raked in.
Same principle applies for your product launch. Think of the ways to generate some excitement. Publishing teaser reports or giveaways ahead of time, issuing a sneak preview chapter, spinning out a series of videos highlighting the current problem and why a solution (yours) is needed. Pre launch is about deciding what tactics you will use to get people aware and salivating then releasing the teaser products.
2. Get JV Partners & Affiliates
There’s power in numbers. On your own you can do so much but with a team behind you so much more can be achieved. Leverage the power of other people’s lists. Offer inducements for affiliates and partners to join you. Many offer 50-100% commissions on the front end product to entice affiliates to get behind a product.
Partnering with others might get you additional products to offer to customers as value-add bonuses that relate to your product and is a great way to encourage JV partners to mail for you.
3. Create A Launch Contest
To keep the momentum building you need to keep your affiliates engaged. A launch can take up to ten days and people’s interest can wane as other shiny objects hit the market to take away people’s attention from your launch. Think of ways you can keep your team motivated. When I was in the recruitment industry there were a ton of competitions to get the team pumping the handle – think of things like ‘most sales of the day’, ‘ top 10 leaderboard’, ‘fastest first sale’, ‘dash to the launch 48 hour comp’. Apart from recognition maybe you could offer cash prizes, ipods, ipads, dinner vouchers, movie tickets … try and be creative. Even a reciprocal mailout could help.
4. Follow Through
Starting a launch means you have to finish it. Don’t let it die on the vine. The key person interested in your launch succeeding is you! So keep up the pressure with promotional activity – mailouts, posting, advertising, whatever it takes.
Map out your promotional strategy and follow through activities ahead of the pre-launch and have a few extra options up your sleeve in case you see interest wavering. Be persistent and keep your finger on the pulse and your name/brand/product out there.
Check on all your systems to make sure they are working pre and post launch. Autoresponders, sales pages, links, payment processor integration, shopping carts, delivery channels, tracking tools, affiliate promotions. Double check and triple check everything constantly. You need to know immediately if anything goes wrong so you can fix it and have a seamless customer experience.
The whole point of a launch is to increase your database and your bank balance. Plan ahead for contingencies – server overload, mailing providers outages, refund requests, support issues – all have to be in place and ready to implement when needed.
So, when will your next product be ready for launch?