Today we are going to talk about the launch of your product.
We get into the nuts and bolts of the development side a lot here on this blog, but this is where the real magic starts.
The reality is that many entrepreneurs and eCommerce businesses are clueless as to how to engineer (yes engineer) their marketing and product launch.
They put the photos of their product up, launch the sales page, cross their fingers, and hope people stop by and purchase what they’re selling.
Unfortunately, your eCommerce store or website has to compete with millions and millions of others out there, so the ‘build it and they will come’ adage does NOT work for launching your new product idea on the internet (unless you’ve invented a flying car that runs on H2O).
Today I’m going to share with you some of the magic sauce that goes into a successful product launch, so get ready!
This is some powerful stuff that we normally only share with our highest-level joint-venture clients, and it’s a tried and true formula that has generated millions in sales!
We’ll assume here that you have some traffic to your site/eCommerce store, or if you don’t, that you know how to use Ad-words to start purchasing traffic. Traffic, while vital, is another topic for another day.
You could be one of 2 groups:
A. you have your own product, one that you developed from top to bottom, and had manufactured, or
B. you are selling someone elses product that you’ve re-branded (but have to compete with others selling an identical, or close-to-identical product)
At SourcingOverseas I’d say that 85% of our clients fall into category A, and 15% into category B.
So here goes….
NUMBER 1. Whether you are in category A or B, the VERY FIRST THING that you want to do is to ask yourself “who are my customers?”. Write this down and get a picture of your potential buyer crystal clear in your own mind.
Number 2. Once you’ve defined WHO your target customer is, you will want to ask “WHERE are my target customers?”. Do you have a prospect list of your own? Or are you starting from scratch in your market?
If you are starting from scratch then you will want to do 2 things:
Firstly, find several businesses that DO have lists of your target customers and who could potentially partner with you in your product launch.
How do you do this? We’ll let’s say that your product is an innovative new baby bottle. Well your primary target customer is clearly mothers (or soon-to-be) with nursing-aged babies, who are in the market for a feeding bottle.
Taking this into account, you might identify 2-3 of the largest mothers & babies blogs or memberships sites and get in touch with them about partnering on a launch.
You might reach out to some of the big brands who make products for this exact same customer, and who have access to HUGE lists and audiences made up of your target customer.
( Note: just make sure your product is complimentary to their line and not in competition with one or more of their products.)
Secondly, start NOW in building your own list of your target customers
You do this by offering something that your target market might want (a information product that can be delivered for free is ideal) like a free download PDF “guide to choosing the best baby bottle”, for example, that your prospects can download in exchange for leaving their name and contact email (kabam! you just identified the reader as someone interested in buying a baby bottle, and got their contact info! magic right 🙂 ).
That’s how you start building your list of prospects.
NUMBER 3. Now that you have traffic (adwords is fine) and access to a list of your target buyers you can let them know that something is coming!
This is called ‘foreshadowing’ and if you watch all the major product launches today you can see this very powerful psychological tool at work.
Basically what you are doing is telling your list and the people who are landing on your site that “something is coming, something awesome, and you can’t wait to share the news with them!”
NUMBER 4. Next you want to continue building anticipation by letting your potential buyers know that you have “the first working unit and it’s awesome! Go on to tell them…..” I’m not quite ready to open the cart yet, and there are some finishing touches and tweaks that are needed, but this is sure to be a hit and it’s almost ready to go!”
Drop some hints about what the product is to keep the attention of your prospects (they are, after all, your target customers and are very likely interested in what you have).
Build anticipation, another powerful psychological trigger.
NUMBER 5. Share some reactions and testimonials from beta-testors/friends/family/volunteers who are testing the product for you….. “the reports are coming in and this is better than we could have anticipated! People are LOVING this thing!”.
This is where you start generating BUZZ around your launch.
If you have bloggers or other people with an audience partnering with you, this is where they would post and write their reactions and impressions of testing and using your product. More details of your product are now out, and the buzz is starting to grow.
The pent-up interest and the anticipation, combined with the buzz you are generating is combining nicely for you at this point.
Number 6……..coming soon
Keep you eyes on the blog and I’ll have part 2 of this new product launch strategy coming early next week!
In the meantime, I’d recommend a great book by Claude Hopkins titled ‘Scientific Advertising’ as a supplement to this blog post. It’s more than 60 years old but is absolutely fundamental to the science of marketing and advertising that sells product!