Are You Launching Your Startup or Product Next Week?

Nov 10, 2015 · 15 mins read
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We all want to live from the Internet. Most of us have great ideas for doing so. But when the moment of truth arrives… everything vanishes because you don’t know how to launch your product on the Internet.

Not so long ago, entrepreneurship was an activity reserved for a few brave people who fought daily to survive in a complicated work environment.

But nowadays, there are countless success stories where, with a simple internet connection and sometimes almost without wanting to, you can achieve six and seven figure income in record time.

That happens because the Internet brought one of the most powerful weapons that any entrepreneur can have in his hand, if he knows how to use it properly: the massive reach.

Because, let’s not fool ourselves: the launch of a new product to the market is only the moment when we make our new product available to everyone who wants to buy it.

And of course, the more people who find out about our product and, above all, the more effective our strategy for launching a new product on the market is… the more people will end up buying that product and the closer we will get to our dream of living off the Internet!

On paper, the theory seems very simple: I have to reach more people and more of those people I reach have to end up buying my product.

But, although the Internet has made this task much easier, nothing happens spontaneously and we must plan the optimal product launch strategy and implement it properly to achieve the objectives we have set.

The cost of a new product is 80% strategy and only 20% implementation.

In the last year I have participated in more than 20 digital product launches and I can assure you that, just as a good launch determines 90% of the success of your business, product or project in general, the launch definition phase determines 90% of the success of the launch itself.

The good news is that you will not need an extensive marketing plan for the launch of a new product. After all, you are selling to people and there is no more effective way to sell than to use common sense and understand very well the mental and emotional processes that a user follows in a sales process.
Launching a new product to the market: overview and basic stages

When one considers launching a product, one must understand that there are fundamentally three very different phases:

  • The catchment phase. This is the initial period in which efforts are focused on impacting the maximum number of people possible so that they know of the existence of our product, generally without yet manifesting a commercial will. The main objective of this phase is to awaken the interest of the potential client.
  • Warm-up phase. Once the interest of the user has been awakened, it is convenient to feed that interest with free valuable content that helps to position us as a reference in what we are going to sell in the last phase. The main objective of this phase is to gain the trust and professional respect of the potential client.
  • Conversion (or sale) phase. After having captured the interest of the user and having positioned ourselves as a reference for him, a phase will be opened in which the main objective is the sale of our product. The better you have worked on the capture phase and its transition to the sales phase during the warm-up phase, the easier it will be to sell to your potential customers.

It is very important to differentiate very well between these three phases in any product launch, because you can not use the same techniques or strategies for someone who is in the phase of recruitment, and therefore may not even know us before, that for those who are already in the sales phase and therefore have already had contact with us even through different channels (social networks, email …).

It is a frequent mistake in the sale of products on the Internet not to know how to distinguish the phases of product launch at each moment and, therefore, to try correct sales techniques on wrong users, who are not yet at the right point to receive our offer.

Therefore, in a good product launch to the market, time management has a very important role, as if it were a good novel in which you cannot attack the outcome without having worked well on the introduction and the main plot.

If in the plan of launching a product the sequence is respected without skipping any step, it is highly probable that the final result will be successful.

However, depending on the sequence used and how these three stages of launching new products are worked, there are different strategies for launching a new product on the market.

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Interesting ideas, concepts and strategies for launching a product on the Internet

As I mentioned, there are several strategies to launch a product, all of them with many success stories as examples.

I want it now!

But before we go into the different options for setting up your own product launch campaign, it is worth stopping for a moment to analyze an important element for any launch: the product.

Almost involuntarily, we’ve been talking for a while about how to launch a product on the market without hardly having mentioned the great protagonist of the business for which, ultimately, people decide to pay us their money. Does that mean that the product is less important than the product launch marketing itself?

Let me share this reflection with you: there are extraordinary products in the market that do not achieve sales and there are products of very doubtful quality that sell like hot cakes. With this I want to tell you that, at the precise moment of sale, the product is totally irrelevant.

I suppose that this is nothing new for you, since you have surely bought a product that was not at all “what you were sold”.

But allow me to continue elaborating my reflection. To sell the product today does not matter much, right. But in order to build a scalable business that can be maintained and grow over the years, the product is fundamental.

A good quality product lasts over time if the sales strategy is good; a bad quality product has a short life, whether its sales strategy is good or bad.

The life cycle of a launch product is as long as the quality of the product itself is good.

Have you noticed a detail? A bad product ends up destroying your business over time. A bad sales strategy can destroy it immediately. If you don’t have a good marketing campaign to launch new products, it doesn’t matter if your product is good or bad, your business is headed for failure.
What is the minimum viable product of the “lean startup” model and why is it so important

To talk about the product and its importance within the general equation of a launch, it is not superfluous to rescue Eric Ries’ “lean startup” method. If you’ve already heard of the lean startup model, you may already have a sense of why.

But don’t worry if you haven’t, because I’m going to explain very briefly what lean startup is and how you can take advantage of its philosophy if you are considering how to create a product and launch it to the market.

The main idea of the lean startup model is to assume that planning and forecasting can only be reliably accurate if it is based on a long and stable history of operation, which is not usually the case when creating a new product or service, when conditions are usually completely uncertain.

In this circumstance of absolute unpredictability, the lean startup methodology proposes a growth strategy based on constant “experiments” that incorporate learning based on customer feedback.

But what matters most to us for our particular marketing plan to launch a new product: the starting point of this machinery of continuous improvement is what is known as a minimum viable product, an initial elementary product that responds to some hypotheses that we have about the specific market we are addressing, without wasting excessive time in its development.

What is a seed launch and how to make a minimum viable product

Like any other launch, a seed launch is still a sales-oriented digital marketing strategy. The main difference with other types of launches is that to carry it out, it is not necessary to have a previous list of users, not even a product to sell.

That is why it is the ideal formula chosen by many entrepreneurs to start their online business, especially if it is a business of training, consulting, services and any product that can be framed in the knowledge industry.

In a seed launch, as we have already mentioned, it is possible to reach the point where the product does not even exist, that is, we start from a point prior to the existence of a minimum viable product.

From that starting point, a very elementary launch strategy is carried out to validate different aspects in relation to that product that does not yet exist or is not yet finished:

The existence of initial interest in the market in relation to the product.
The predisposition of the market to spend money for that product.
The sensitivity of potential customers to the concrete price of the product.

But beyond validating these market hypotheses, a seed launch allows us:

A much better understanding of our target audience.
Finance the development of the product itself.
Start creating our database of potential customers.
Have the possibility to "build" our first testimonials and customer success stories.
Perfect our strategy and prepare the transition to other launch formulas.

But even beyond all this learning that is obtained from a seed launch, much more elementary in its execution than other launch formats, in many occasions it is used to build the heart of our business: the product itself.

Whether starting from scratch or from a minimally viable product, the fact of having pre-sold a still “incomplete” product incorporates all those buyers in the very process of creating and developing the product, adapting the final solution much more to the real needs of the consumers.

Of course, a seed launch is not incompatible with the existence of a product. If we already have the product we want to launch to the market, a seed launch can also be carried out as a first approach to our target audience.

To carry out a seed launch, the following steps must be followed:

  • Create a campaign to capture leads (a lead is a user interested in our product who has voluntarily given us his contact information). Generally, this is done through online traffic capture strategies (Facebook Ads, Youtube Ads…).
  • Nourish those leads with information relevant to their interests (as a rule, a sequence of 2 or 3 e-mails is enough), with which we must also reinforce our authority and professionalism in the matter.
  • Invite those leads to an online event, usually a webinar or online seminar to facilitate the implementation of the strategy.
  • It delivered to the attendees, reinforcing important aspects such as our authority, the existence of testimonials that have already consumed our products - if we had them - and especially working on the promise of our product: what will the user achieve with our product? what current problems will it solve? what new opportunities will it open up? 75-80% of the webinar content should be non-commercial, providing valuable knowledge relevant to the product we will sell in the end.
  • In the final part of the webinar, an offer about our product should be made to all attendees, introducing as much as possible the urgency of the offer.
  • Once the webinar is over, the offer is usually available for a few additional days (maximum 7-10 days), during which time the strategy is accompanied by different emails to both the webinar attendees and those registered who could not attend. All these emails have the sole purpose of closing sales.

It is very important to try to measure as much data as possible during the seed launch because, as indicated, its fundamental objective is to extract the maximum knowledge of the market in relation to our product and, based on all the learning obtained, the fundamental strategy will be generated to carry out the next launches of the product that will scale up our business to higher turnover figures.

Jeff Walker’s “Product Launch Formula”. The mother of online launches

Once we have a new validated product and we want to achieve a successful business around it, it is common to go to the mother of all online launch strategies, the well-known Product Launch Formula (PLF), designed by the American expert Jeff Walker.

With it, billions of euros have been invoiced worldwide in an infinite number of different niches, from the most classic niches of finance or fitness, to specific micro-niches as diverse as crafts, tennis, coffee and a long etcetera.

The great promise of this launch formula is to achieve a six-figure turnover in only seven days of sales. How does that sound?

In the world of launches and infoproducts, it’s quite common to hear about the “6 in 7” concept, which refers precisely to the phenomenon I’ve just described, but even the “7 in 7” is something that’s already becoming more common: invoicing more than 1 million euros in a time period as short as a week.

Such has been the success of Jeff Walker’s launch formula, that in fact when someone refers to a launch -in general-, especially in the area of products linked to knowledge and training, they are actually referring to Jeff Walker’s Product Launch.

No one can assure you that simply using the Product Launch Formula strategy will guarantee the results we’re talking about. If you think it’s easy and automatic, you’re wrong.

But, of course, what is clear is that it is possible. A lot of entrepreneurs have done it and I myself have achieved those results with various products from different niches, so I can assure you first hand that the Product Launch Formula works and in many occasions it works very, very well.

However, I would like to warn you about a detail that many times goes unnoticed by many people who are attracted to launches because of the potential results: behind what seems to be a simple methodology to launch new products to the market and to make a lot of money in a very short time, there is a lot of work, dedication and focus that ultimately determine the success of the strategy.

It is true that the period of income generation is very short, usually 7 days, but it is no less true that, until you reach that point, you are going to need about 2-3 months of preparation of the launch strategy to make it work properly.

Or did you think that selling those figures in 7 days was going to be a task of a few hours?

To achieve the very high efficiency of converting strangers into customers in love with your product in a very short period of time (about 2-3 weeks depending on the specific schedule), Jeff Walker’s launch formula is based on a series of 4 videos in which the potential customer receives a very high value content accompanied by a series of persuasive elements perfectly placed in the sequence of the video scripts.

But then, is it a manipulation strategy? Not at all. It is simply a matter of giving due importance to all those key elements when making the purchase decision and doing so within a logical sequence whose ultimate goal is for the customer to make a perfectly informed purchase decision.

Be clear that, after a series of 4 videos that rarely go below 30 minutes each, whoever buys is because they are really clear that your product is what they need and you are the ideal person or company to buy it from.

And that is the essence of the Product Launch Formula: to sell from the vocation of service and the willingness to help sincerely.

If you don’t believe that your product will transform your customer’s life, this is probably not your best option to launch it.

However, if you want to know how you can implement the Product Launch Formula to launch your product or service, at the end of this article you will find a step-by-step guide that will surely help you in your goal.