How to Manage a Product Launch
Historically products were launched using big advertising budgets that were spent on Ad campaigns. These Ads were constantly repeated in places that interrupted us. Now even big companies like the Ford Motor Company are using the power of the internet to build a community of raving fans to turn their new product launches into events with a capital E.
1.Research your market carefully find out what keeps them awake at night; what frustrates them; what they long to achieve; and get a clear idea of their demographics.
2.Build a list of prospects in your niche No doubt you have heard the saying “the money is in the list”. To be more accurate you must interact with your prospects and build an emotional bond before asking them to buy anything.
3.Based on your research, you will be able to create a product that the market desperately wants Remember that people prefer to buy out of desire rather than necessity.
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4.To help you do this, take a searching look at your competitor’s products. If you can buy two or three of the best ones and look at them in detail, do so.
5.Now you have your product almost finished, you have completed about 20% of the project. The remaining 80% of the work is taken up in creating an offer and a marketing story.
6.Your aim in creating your offer is to make it as irresistible as possible. Your list will help you to do this if you have established that rapport we talked about in #2 above. All you have to do is ask questions to get them involved. The best platform to use for this is a blog.
7. Your marketing story speaks to all those frustrations, fears and desires that you discovered in #1 above. It must speak of the benefits that your product offers them not only the features. Benefits exist in the head and the heart.Everything else is a feature.
8.Your story must clearly state why your product is different. This is called your Unique Selling Proposition. Do not be afraid to be different. After all, if your product is not clearly a better one why should anyone buy it?
9.Finally, you have to have a clear idea of how much you are going to sell the product for. Remember that you must sell on the value you are offering. Do not attempt to compete on price. If your market really sees the value in what your offer they will pay much more than you think.
10. Now you are ready to start the launch sequence. This could take up to 4 weeks and involves you sending a sequence of emails that hint and tease your prospects interest. Your aim is to build anticipation and buzz just in the same way as a major Hollywood film studio does before it launches a major blockbuster movie
11.If you are successful, you will sell more in one week than you would normally sell in 6 months or one year.
12.Remember that your launch should not be aiming for a ‘big bang’ but rather should aim for ‘rolling thunder’ so you should plan to do a series of launches with one taking place every 3 months. Each one you do should be aimed at the prospects on your list who still have not bought.
