This is part 2 of the article with the same name.
Coming in at number 6. This is where you need to shout it out to your list of prospects that “we’re almost ready to launch!”. Get passionate and excited about it; passion is contagious and if you can’t help but gush about how ‘magical’ (ahem) your product is then your market will catch on and get excited with you.
At this point you are thrilled to be finally bringing your idea to the world, so thrilled in fact that you are going to make your early adopters a killer offer after you’ve gotten through expressing your excitement!
Take a look at the big brands with rabid followings out there, like Apple for instance, or Sony’s Playstation.
What sort of offer do they make their early adopters?
Your first answer might be “nothing, they don’t offer any special deal to the first buyers”.
Not so fast.
For those big names with a built-in “hip-ness” aura surrounding their brand, the promise to early adopters is basically ” you will be cooler than your friends for a while, and will be part of a very small group able to show off the new gadget while very few other people have them. You will be special”.
That promise is clearly motivation enough for some people to wait in long lines and brave the elements just to get that added bonus (after all, that new iPhone, or that new video game is no less awesome 4 weeks after launch date).
My guess is that you haven’t yet built up the brand equity as one of the brands listed above, so you will need to make a more conventional offer. A discounted price for the first 100 buyers is a great one. Or perhaps an add-on accessories (carry pouch, dock etc) limited to the first 500 buyers. An information product makes a great bonus as well. You can stack the offer as well (huge offer for the first 100, slightly smaller offer for the next 500 etc).
The point of introducing a great offer is get your prospect’s excited about taking IMMEDIATE action once you launch so that you have the critical mass you need right out of the doors.
Number 7. Okay, this is where you are coming right down to the wire. You need to tell your prospects that “tomorrow is the day, and here are the instructions to make sure that you don’t miss the great offer we’ve put together!”.
This step can come 1 day or several days after step 6, it’s really up to you and what you fee makes the most sense in your particular situation.
The main point of this step is to enact the psychological principal of scarcity so you should explain to your market that while you hope that you won’t run out of stock that that is a very real possibility.
You will want to reassure your prospects that you will send them an email at a specific time the next day, as soon as you open your cart, to make sure that they don’t miss anything.
Crux of the matter: this is a killer product, may very well sell out, so you want to keep your eye on your mailbox as soon as we launch.
Number 8. Launch time!! By this time you have really warmed up your list of prospects. If you have properly executed the last 7 steps, and built in the marketing triggers we discussed, then people will be falling over each other to ‘add to cart’. Make sure that you have properly prepared your online back-end so that your payment processor doesn’t crash and so that your server doesn’t have trouble. You DO NOT want to have tech problems right in the middle of a launch if you can help it.
On this topic, if would be prudent to give your payment processor a heads-up about your plans so that they don’t freeze your account because of a sudden increase in transactions.
Number 9. A couple days after launching you will want to follow-up with those of your prospects who haven’t yet made the decision to buy. This is a great time to send more user testimonials to continue to build social proof and address the questions that might be preventing them from buying. This email (or series of emails) also serves as a reminder to those who might be inclined to procrastinate.
Number 10 (BONUS STEP). No you will want to take the offer off the market and make good on your scarcity play. You can do this by announcing that you will only make the special offer/s available for 24 more hours and then they are going away. Many of our clients have reported doing as many sales in the last 24 hours of a launch as they do in the first 24 hours simply because some people who fully intend to buy will put it off till the last minute. You need to encourage those sitting on the fence to jump in!
Number 11 (BONUS). This is where you give your prospects their last chance to get your offer. Typically you can send this email/video/web posting out 3-4 hours before your offer goes away.
And there you have it! All the nut’s and bolts of how to run the marketing side of your new product launch!
PS. much of the strategy and product launch philosophy is adapted from what I’ve learned from product launch guru Jeff Walker. You can check out his stuff at http://jeffwalker.com/ highly recommended!
This 2-part article on marketing your product idea is some powerful stuff that really works!
I’ve written up these tips and secrets with the full assumption that what you are selling or plan to introduce into the market brings real value to your users.
The principals and psychology of marketing are powerful and have the potential to bring great good into the world so I encourage you to put them to use to do just that in your next launch!