Show notes
Welcome back to another episode of The Disruptors podcast with your host Rob Moore. In this latest episode, Rob talks through a tried and tested model for increasing sales on the launch of your product: The Product Launch Model. Rob talks through each element, from making sure you’re getting your community involved in the creation of your product, to ensuring the bonuses are right for you. If you have a product ready to launch, this model can help you build that anticipation, and increase sales.
Key Takeaways
The Product. It’s important to have a good product and service that you know will sell. A good way of doing this would be to have a small launch to a small segment of your customer base. You are then able to gain feedback on the product and tweak for the future. Crowdsourcing aspects of the product like the title or the different bonuses can be really effective. This means that people are already involved in your product and are more likely to buy it. By the time you’re launching your product for real, you know the content and the message is desirable.
Make sure you have a Compelling Story. Telling a story of your product is essential to entice, and engage potential customers. For their first iPod launch, Apple chose a story was around the tagline ‘A thousand songs in your pocket’, which is a great example.
Pre-launch. Before you launch, it’s important to build a sense of urgency and anticipation for the product. This can be done through two things, scarcity and timing. For example, only releasing bonuses for 24 hours, or limiting the places on a course or a bonus to create the urgency. An important aspect of the pre-launch is drip-feed information weeks and months before the launch. For example when Apple launch new product photos of it will appear ‘leaked’ in the media, which creates a sense of anticipation, and interest in the product. It’s important to feed the logistical information before the emotion and excitement take over. Things like where to find it, how to book on to a course, or when can you physically buy it and the launch date itself should be taken care of early in the pre-launch process.
Go Live. Have an incentive for the first 100 or first 24 hour. Recency and volume in a short time mean that you can be placed higher in the rankings for a book, or a podcast. Don’t be scared to be relentless with your promotion. On launch day it’s possible to have three communication methods firstly it’s live, add a special added bonus, and then a countdown to its closing. Change your message throughout the day, always communicate something new not a repeat of the previous message. Don’t reveal all your story in one go. Make sure you give people warning that you are going to close the launch and make sure when it’s closed, it’s closed you can add them to your waiting list.
Post-launch. If you are going to reopen make sure to introduce something new and you’ve left enough time since the close so that it doesn’t look like your initial marketing failed. Place bonuses for sharing the produce or reviewing the product after the launch of the product. You’ll end up giving away five or six bonuses so with your bonuses make sure they are high perceived value and low cost to you. You will end up having to always beat your last bonus as well. Make sure you are leveraging your time, so a 3-hour online training session as a bonus, means you can have lots of people on the training, you can record it for future use, and it has high perceived value. Make your bonuses are scarce so only the first three have a mentoring session with yourself for example. See the time in helping others as an investment into future customers.
Best Moments
‘Always have something new to say with each communication.’
‘Bonuses are high perceived value, but low cost to you’
‘£10,000 or £10 product the bonuses will have to be different bonuses.’
‘People wanting them before they go on sale.’
‘Be careful when you give away you.’
‘When people know they have you for life there is not such a rush.’
‘You can use me for anything that isn’t logistics and property. So I don’t devalue my own products.’
‘Take the product apart - launch the main element of it and then add the peripherals as bonuses or choices.’
‘Without our customers we are nothing.’
‘People who buy all your stuff, are the people you spend the most time with.’
[Business, mindset, entrepreneur, disruptors]
VALUABLE RESOURCES
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ABOUT THE HOST
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “Disruptors”
“If you don't risk anything, you risk everything”
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disruptive, disruptors, entreprenuer, business, social media, marketing, money, growth, scale, scale up, risk, property: http://www.robmoore.com