When you launch a new product you’re opening up a whole world of opportunities for your business. You’re giving current customers a new opportunity to buy something else from you, you’re opening the door to brand new customers and creating a massive amount of buzz within your marketplace.
In the online space, there’s a catalogue of tools and strategies you can use to make money. These include email marketing, blogging, sales letters, webinars, squeeze pages and, of course, social media. But, without a product, you can’t really make any real money. Sure, you can promote other people’s products, but at some point you’ll have to step up because all you’re doing is drawing attention to someone else’s business.
This isn’t just online though, this goes for the offline crowd too. No matter where you are or what you do, there will come a time where you need to renew your offer. No matter how sustainable your product is in your market, competitors will always enter with an alternative. So, you need to show that innovation is your thing through a launch.
Where should you start? Well, it’s with a new product. The first task is to identify your goals. For example, will you be looking to get more sales, increase awareness or use it as part of an existing marketing strategy? Those are your internal issues. But, more importantly, what are your external issues? Be aware of the countless new products that are constantly launching every single day of the week. There’s increased competition, and that competition is something you need to study. One of the biggest mistakes marketers in all industries make is they don’t do their homework and research the market. To be unorthodox, is to be highly knowledgeable of the market around you.
Providing that your product is one that the market wants, the next step is to build the product around those customers. That is, focusing exclusively on the potential customers who you believe make your ideal customer and will purchase from you. Look to fill a need rather than create one – if the demand is there, then supply. Be sure to create a unique value proposition too, and not just launch what your competitors are. It needs its own clear positioning and message because a confused buyer doesn’t buy.
You need to communicate this in your sales material, your sales letters, emails and web pages. Copywriting is a difficult skill to master. If you’re not overly confident about your abilities then you can always outsource, but just give it a go. First off, put yourself in your customer’s shoes. Imagine yourself as the reader; what would you like to read? Always write with the customer in mind, using simple language that anyone, of any age or nationality, can understand with ease. Look to get your readers interested and capture attention. Think headlines, subheadings, case studies, testimonials, product benefits and build on each to encourage the reader to keep reading. But most importantly, encourage your reader to take action. Potential customers won’t know what you want them to do unless you tell them what to do next.
With a product in place and the sales and marketing materials drawn up, your new offer will need potential customers to find it. There are tons of traffic generators online. You could consider Facebook, Google and the host of other media and news outlets, but I always like to focus on using Joint Venture partners. Here, everyone can win. You get partners working as your ‘salesmen’ to sell your stuff, and then you pay them back a percentage of every sale. In theory, they do all the heavy lifting.
I’ve personally brought in tens of thousands of online sales through JV partners, and I’ve very rarely encountered any problems by selling this way. Of course, look for organic and other paid advertising sales, but, even in the big league, bribes and golf days out are constantly happening. Instead of having to get involved in the dark arts, your online writers and bloggers can write about your product launch and still get a cut. In doing this, I always liked to make the product available to the big influencers and the big partners as early on in the development stage as possible. This psychologically ‘involves’ that person to an extent that it’s impossible for them not to promote your product launch.
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