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02.19.12

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

Posted in Ask PW, Product launches at 8:41 am UTC by Michele PW

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

 

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2 Comments »

  1. Melanie Kissell said,

    February 20, 2012 at 6:30 pm UTC

    Really good points, Michele!

    I have a tiny list of subscribers and, unfortunately, they’re very UN-responsive. :(

    It’s not that I don’t treat my list with lots of TLC …

    It’s that I recently figured out that the majority of folks on my list are colleagues. Strange, I know. But true. So I’m mapping out a plan right now to change that scenario.

    Nonetheless, I think it’s absolutely possible to have a successful product launch with a small list … as long as your list is “highly targeted”.

     
  2. Michele PW said,

    February 21, 2012 at 8:23 am UTC

    Hi Melanie — you are absolutely right. You also need a highly targeted list of subscribers.

    Now, I do need to ask you a question about your list — you say they’re mostly colleagues. Why did they join your list in the first place? Perhaps if you changed your product offerings to something that would appeal to who you have on your list — maybe something more advanced — and addressed why they joined your list in the first place you could sell more.

     

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