Monthly Archives: February 2012

Ask PW — “How do you get the word out about a product launch to as many people as possible?”

This question came from the survey I’m currently doing — asking people for their biggest questions about product launches.

I’m going to give you this answer in two parts. First off, I want you to take a good hard look at your offerings — both your free “taste” (like a preview call, webinar or video content series) and your actual paid product. Is it something your ideal client REALLY wants? Is it also interesting or entertaining to them? Does it give them a sense of community and connection?

You see, I can give you a laundry list (which I will in a moment) about how to get the word out, but if you don’t have a strong offer — something that creates its own energy and excitement, it’s going to be that much more difficult to create a buzz around it.

So you have to start with your offer. If your offer is weak, it really doesn’t matter what else you do or don’t do. If your offer is strong, that can go a long way to pulling your launch forward.

(And if you need help crafting that offer, make sure you take a look at my new Unlaunch Bootcamp that I’m co-hosting with Andrea J. Lee. We’ve designed this course to give you plenty of coaching and hot seat time so you get the help you need to launch your product or program — http://www.TheUnlaunch.com)

Now, once you have your offer, you need to get the word out. Here are a few places to start:

1. Your own list (including any forums or networking groups you’re in). You want to start with people you know — if they like what you’re doing they’ll also pass it on. Make sure you tell EVERYONE you know (but don’t be obnoxious about it — make sure you’re doing it in an appropriate manner)

2. Joint venture partners and affiliates

3. Social networking platforms

4. Blog articles (your own blog and others)

5. Press releases

6. Articles

7. Videos

8. Online listings (these are both free and paid and include places like event calendars, teleseminar listings, Craigslist, etc.)

9. Paid ads (there is nothing wrong with paid ads — it can be a really good place to start if your list and reach is small)

(If you have any questions about any of these, again this is something we cover in detail in The Unlaunch — including a module focused exclusively on JVs, affiliates and social networking.)

If you want to here more answers to your product launch questions, join me on Wednesday, Feb 22, at 2 pm Pacific/5 pm Eastern where Wealthy Thought Leader Andrea J. Lee are hosting a special Q&A call all about product launches. Here’s the link to reserve your spot (plus you can ask your question if you’d like): http://www.MichelePW.com/fiber

Ask PW — “How big a list do I need for a product launch to be worthwhile?”

This question came from the survey I’m currently doing — asking people for their biggest questions about product launches.

And the answer is, it depends on what your ultimate goal is for you launch. You see, there’s a lot more to a launch than a big payday at the end. You can also use launches to grow your list, boost your visibility, build your credibility, add momentum to your business and marketing and sell more of your other products and services.

Even if you’re only doing a launch to sell a specific product or program, you also need to define what’s worthwhile. Is selling 50 products worthwhile? A 100? 200? Or 20? That answer is also going to determine how big your list needs to be.

But size is only one factor in the equation — an even more important one is how RESPONSIVE is your list. If you have a highly responsive list, it’s possible you could sell 50 products with only 1000 folks. (I’ve known people who have so yes it really is possible IF you take care of your list.) But if your list isn’t responsive, you may need 10,000 or more to sell 50. (Creating a responsive list means you must take care of your list as well as sell to your list, so doing a product launch may be a great way to start that process.)

And the final question you need to ask yourself is why a launch? Are you trying to make money right now? If you are, there may be other faster and easier ways to get money in the door than doing a launch. Or are you trying to get your message out there in a bigger way? If that’s the case, and your list is small, you may want to look at a launch but a variation of one that is designed to increase your visibility and your list. Or is there another reason?

I really want to open your mind to using product launches in ways other than simply to sell your product or program. Product launches can be a very powerful tool in your marketing toolbox, IF you know how to use them correctly and also know which launch is right for your specific goals and situation.

If you want to here more answers to your product launch questions, join me on Wednesday, Feb 22, at 2 pm Pacific/5 pm Eastern where Wealthy Thought Leader Andrea J. Lee are hosting a special Q&A call all about product launches. Here’s the link to reserve your spot (plus you can ask your question if you’d like): http://www.MichelePW.com/fiber

 

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.

Ask PW — What’s Your Question About Product Launches?

In today’s “Ask PW” column, I want to ask YOU a question. How I can best help you succeed with product or program launches?

Of all the various marketing tools out there, probably the one that is the most frustrating, heartbreaking and misunderstood is product launches.

There’s nothing that will bring an entrepreneur to their knees faster than a failed launch. And even if a launch isn’t a failure, entrepreneurs still struggle with feelings of anxiety or just plain “ick” over the whole launch process.

That’s why Wealthy Thought Leader Andrea J. Lee and I have teamed up — we want to help demystify launches for you, and in order to do that, we need you to take just 2 minutes and answer this question:

What is your biggest question about launching a product or program?

Click here to let me know your question: http://www.surveymonkey.com/s/Y5FNYQZ

 

(Or you can post in the comments below.)

And, if you have any other questions about marketing or copywriting, make sure you post them here or email me at Ask@MichelePW.com and I’ll be sure to answer in a future column.

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!)