I’ve been working with a couple new clients who have gone through the process of launching a new product, but they crashed and burned.
They launched, but had no engagement and no sales. In one case, the prelaunch series wasn’t even completed, so no body saw the sales video.
From my audit of their strategy and prelaunch campaign I quickly identified the three missing ingredients that lead to their failure.
- No List
- No Authority
- No Value Add
From my experience of launching products and businesses, these three ingredients are vitally important to the successful launch of any business or product.
And it doesn’t necessarily require all three to kill the launch, it could be one or any combination of them.
Let’s explore these three ingredients.
1. No List
This should be fairly obvious.
Without people to promote and market to, how can you expect to sell your new product?
Sure you can run ads to target your market, but for a product launch you want a strong list of your ideal customers to promote this new product too.
I teach that you need to start your pre-prelaunch campaign at lest three months before you plan to actually do your prelaunch.
My 90 Day Launch Formula is focused on implementing specific tactics to start building a solid list of ideal customers that you can then market and promote your new product to.
Three tactics I focus on for list building are:
- Blog Post
You don’t need a huge list, in fact I’ve seen successful launches happen with a list of only 180 people.
2. No Authority
You’ve got to establish Authority if you want to be seen as an expert and if you want people to look to you for the solutions to their problems.
If you’re new to the industry and just launching your first product, you may think you don’t have Authority, but you can establish some quickly by doing what is taught in the 90 Day Launch Formula.
We just need to do two things.
- You’ve got to build an Attractive Character that your audience can relate too and perceive as somebody who has the knowledge and skills to help them.
- You need to establish social proof. This is 3rd party validation that you and your products work and that it has helped other people. Two examples are actual testimonials and things people say about you or your product on social media.
It’s important to understand the the 80/20 rule applies to Authority.
You don’t have to know everything or be smarter than everybody, you just need 20% more knowledge and experience then 80% of the people in your market to be a successful Authority.
3. No Value Add
This one will kill you wether you have a list and Authority or not. It’s a two edge sword.
It’s not enough to just throw together some of what you know and call it good. People expect value at every touch point.
They expect that they can get enough education and guidance out of your free content that they don’t need your paid content. And if you’re not delivering that kind of value, you won’t convert and sell.
Additionally, they want to be entertained, not board. If your content doesn’t have some level of entertainment, it will be difficult to keep your prospects attention.
This doesn’t mean you need to tell jokes.
The best form of entertainment you can provide is to use stories and parables to help explain what you’re teaching.
Did your first product launch fail or lack the results you wanted?