Tag: product launches

Categories
Sales & Marketing

5 Reasons Why You Should Do a Product Launch That Have Nothing To Do With Selling That Product

When most entrepreneurs decide to launch a product, they’re mostly thinking about how many products they’re going to sell or how much money they’ll make during the launch.

Now while that’s a great reason to have a product launch, it’s actually not the only reason. In fact, I may go as far to say it’s not even the most important reason. Let’s take a moment and go through the top 5 reasons to have a launch that have nothing to do with selling that particular product.

1. You create visibility for yourself. Even a small product launch will create visibility and get people talking about you. After all, the point of a product launch is to create a buzz and get some of your free content to go viral. The sheer act of doing that builds name and brand recognition, which is key to growing a business.

2. You build your credibility. If your product launches include releasing free content (i.e. videos, special reports) or hosting a free call or webinar, how you present that information can go a long ways towards building your credibility. If you giveaway great content and people can experience for themselves how knowledgeable you are, your credibility will shoot through the roof.

3. You build your list. Offering free content or a free call or webinar is a great way to build your list. Even if you have a small list there are ways to structure your product launch to maximize your list building. (Note — the end result may not be tons of sales but rather a big boost in your credibility and visibility not to mention more names on your list.)

4. You build momentum in your marketing and your business. Product launches take an enormous amount of energy to get off the ground. That energy has to go somewhere (remember the laws of physics — energy is neither created or destroyed, just transformed) and if done right it’s transformed into a huge momentum boost for your business. You’ll likely find marketing your business much easier after a launch — not just because your personal momentum is going but because your prospects are still “talking” about you and are more open to receiving your message.

5. You sell your other products and services. Remember all that visibility and credibility you created with your launch? Well, you likely got the attention of people who may not be interested in the specific product you’re launching but they ARE interested in YOU. Don’t be surprised if sales of your other products and services jump (this typically happens both during and after the launch).

Now, here’s the best part. If you do a product launch for reasons OTHER than a big payday at the end of the day, think about how good it will feel when you DO sell a bunch of products? One of the biggest reasons why product launches are so stressful and so discouraging is entrepreneurs put this big number out there on how many they want to sell and when they don’t hit that number, they’re depressed — EVEN though it may really have been a big success in other ways. So, if you flip it, you can relax during the launch, enjoy it more and be excited and grateful for whatever sales you make.

Food for thought.

Categories
Sales & Marketing

3 Mistakes Conscious Entrepreneurs Make When Launching a Product or Program

Of all the marketing tools out there (and make no mistake about it, product launches are a TOOL — nothing more, nothing less) product launches have got to be the most frustrating, misused and misunderstood tool.

There is nothing that will bring an entrepreneur to their knees faster than a busted launch. Worse, even if the launch ISN’T a failure, it’s still the cause of more worry, anxiety and sleepless nights than any other marketing tactic I’ve ever seen (and trust me, I’ve seen a lot).

However, since launch failure certainly is one of the top concerns (not to mention a bad launch makes everything else look worse) I thought I’d take some time today to discuss the top 3 mistakes entrepreneurs make when launching a product or program.

Mistake 1: They rush into the launch.

Let me explain what I mean by this because it’s not as clear cut as you might think. While I do think giving yourself some time and space to launch something properly (especially when you’re doing it from scratch) is a good thing, if you have a big enough list to meet your sales goals, you can rush your launch as much as you want.

Where I see the biggest problem with rushing your launch (other than just keeping yourself up nights working on all the promotional pieces) is when your list is small and you are dependent on affiliates or joint venture partners to meet your sales goals. If this is the case, you are pretty much guaranteeing your launch will fail.

You see, affiliates and joint venture partners are busy people. They have their own products and services to promote plus they too have agreed to help other people. The less lead time you give them the more likely they will tell you they can’t help you promote.

However, there is another way to look at this, which actually leads into mistake number 2.

Mistake 2: They don’t know the numbers.

Here’s how this mistake plays out. You’ve been hearing about these 6 figure launches, but you’re just starting out — you don’t expect to have a 6 figure launch. You would be happy with 50 people in your program. And with 200 people on your list that should be doable, right?

Well…

You do the launch and end up with 8 people in your program. You’re crushed.

Now the reality is with your list of 200, that’s a 4 percent conversion of your entire list. You should be THRILLED with that conversion.

But, because you don’t know the numbers (specifically the CONVERSION numbers) you’re just looking at the end result — how many people actually bought. And if it’s lower than what you wanted (or expected) you’re going to be disappointed.

But if you know the numbers, then you’ll know going in how many people you can expect to buy. And you’ll ALSO know what to expect regardless if affiliates help you promote or don’t. And that’s a really powerful way to keep yourself from getting too disappointed or frustrated.

Mistake 3: They either give up or decide not to send “one more email.”

This happens if they either get too discouraged from lack of sales or they just start feeling “icky” about the whole launch. At that point, they just stop.

And when you stop, you’ve also just stopped getting any more sales. And even if you’re stopping because you’re feeling sort of icky, you’re probably going to feel even more icky when people stop signing up for your program. (You CAN cut down the number of emails, just as long as you know which emails to cut.)

So you need to know going in you’re probably going to feel like giving up somewhere in the middle. If you know this, you can stand firm when it happens and make sure you still send that “one last email.” (Who knows, that could be the email that turns everything around for you and to think you almost didn’t send it!)

Categories
Online Business

3 Tips to Internet Marketing Even If It’s Not Your Cup of Tea

On the surface, starting an internet-based business may seem like a dream come true. A business owner can start a business out of her home, selling her products and services everywhere and anywhere in the world without big marketing budgets or lots of advertising. However, once she puts up her first web site, that dream often comes crashing down – it’s not nearly as easy as it first looks.

So, she does her research. She starts learning everything she can about Internet Marketing.

But it’s still not as simple as what the “gurus” say. Maybe the business owner is still stuck at her current revenue goals and she knows she could be making more. Maybe she feels uncomfortable or “icky” around her marketing. Maybe she agonizes over every negative email and feedback she gets. And maybe she feels like there must be a better way.

Here are 3 tips to use to get more success through Internet Marketing:

1. Pull up those big girl panties and get some business training. People start businesses for all sorts of reasons that have really nothing to do with owning their own business. They want freedom, to provide for their families, to not have a boss, to get their message out into the world, to make a difference. None of those reasons started with the words, “I love business.”

So it only stands to reason they have little to no training or experience in business. If that’s the case, it’s unlikely that business will come naturally. Learning to run a business is like learning to do any skill. Learn to run an effective, profitable business, and put Internet Marketing in its proper place, which is …

2. Internet Marketing is a tool in a business owner’s marketing toolbox, it is NOT a business model. There’s a certain amount of confusion about this whole Internet Marketing thing, that this somehow is a business model rather than a collection of strategies. While it certainly CAN turn into a business model, that’s not a desirable situation. Typically, when that happens, the business has turned itself into a “launch after launch” model, which is highly stressful on a number of levels (not to mention it’s not sustainable, long-term).

When a business owner views Internet Marketing as simply another tool in her toolbox, then her mindset changes. It’s just another tool – nothing more, nothing less. Certainly nothing to agonize about. Next step: focus on using that tool correctly.

3. If there’s a part of Internet Marketing a business owner really struggles with, she should take a good hard look at it. One of two things will most likely happen – either she’ll see the reason she struggles is because she has a block around something else, and if she wants to fix it she will work on the block. Or she realizes this piece is just not going to happen – either she really hates doing it or maybe she feels like it doesn’t align with her or her business. If it’s the latter, she will have to find another way to get the same results, or she’s going to have to accept the consequences of not doing it.

But how does she know which one it is? If it’s a block or something else? And if it’s something else, how does she make the choice to do something different? And how does she know what the consequences even are, before it’s too late?

This is a problem I’ve seen over and over again – conscious entrepreneurs making a choice around Internet Marketing based on faulty or incomplete information and not realizing the consequences until it’s too late. It’s something no one else is talking about… but I am.  Stay tuned for more!