Welcome to the Product Launch Formula Blog!
There is no quicker way to build your business than with a properly executed product launch (or business launch). It’s the highest leverage marketing strategy, period.
This site is all about giving you the tools, strategies, and tactics to execute your launch. I’ve been doing online product launches since 1997, and teaching my Product Launch Formula since 2005… so everything you will find here has been is proven and battle-tested.
When you’re ready to go deeper, then sign up for the free Product Launch training videos at this link…
OK, these were the top 8 entries into my PLF Video Contest (you can see the previous round of 17 entries at this link.)
I just have to say that every person who entered a video is a winner… for getting out there and getting it done. All of the videos inspired me.
That being said, these top eight are simply awesome. Enjoy the videos… the stories are amazing:
1. Barry Friedman: teaches jugglers, clowns, and magicians how to build their income
2. Matthew King: a soldier launches from the war zones of Iraq and Afghanistan
3. Dana Wilde: a 50-year-old ex-newbie crushing it and building a rabid fan base
4. Scott Ferguson: PLF saves his software business from the brink of disaster, and starts a new business
5. Greg Bishop: gets 924 new subscribers in a few days, and launches someone else’s product
6. Marco Frezza: teaching magic tricks and making kids happier
7. Jason Spenser: went from food stamps to delivering pizza to leading tribes
8. Geraldine Barry: teaching real estate investing
NOTE: it’s important to remember that these eight videos are NOT typical of my Product Launch Formula Owners. I held a PLF Video Contest, and these were the best eight videos entered in the contest. And the reality is, no one who put in a video is typical – I think we can all agree that a typical client doesn’t shoot videos saying awesome stuff about you and your product. The typical client never shoots any videos, and you never hear back from them… that’s just the way the world works. You can also see from crazy variety of their stories that there is no “typical” client – these videos range from a professional juggler to a software business owner to a soldier in Iraq. A few of these videos mention money and/or an income. Please note that these are definitely not income claims. I’m not sure who is going to watch these videos, and I have no knowledge of their capabilities or what they would do with my training. A more typical and safer assumption is that you will not make ANY money from my training. Especially if you don’t do anything with it.
You can get lots more information and training about how to do these launches at Product Launch Formula
In fact, if I were to break down the typical product launch into all the possible roles for every possible scenario, there would be well over 80 different roles listed here and it would take up several pages.
Fortunately, they can all be lumped under the umbrella of three primary roles within a large scale joint venture (JV) product launch. If you’re doing a simple seed launch or internal launch, you’ll only need to be familiar with the first two.
Product Launch Role #1: The Creative
The writing and creation of all the prelaunch content, the emails, the copy, the videos – essentially, all of the marketing creative required for the launch.
Chances are, you’re going to be heavily involved in the creative piece, even if you’re not writing the copy yourself. Frankly, most people can simply write their own material better than a professional copywriter, because they understand their product or service intimately and can articulate their message better.
So you’ll either need to have some marketing chops yourself or you’re going to need help from someone who does. When our leader Jeff Walker is in a launch, that’s what he’s doing 80% of the time.
Product Launch Role #2: Project Planning
All of the project planning and administration to make sure stuff is getting done.
It includes getting the prelaunch content pages and sales pages built, setting up the product delivery and/or membership areas, testing the links, approving the comments, setting up the shopping cart and testing out the order process, building the site out, putting tracking in place, watching the analytics, customer service and support issues, etc.
Basically, we’re talking about all the logistical and technical here, and it’s the easiest role to outsource or put a team in place for. Depending on the size and complexity of the product launch, this role may be filled by one person or an entire team.
Product Launch Role #3: Affiliate Wrangling
This role doesn’t exist in an internal launch, because you are launching direct to your own lists with no outside support. That’s why internal launches are so much easier to manage.
In a full-blown product launch supported by affiliates, however, this role is crucial… and it’s as much about motivation as it is administration.
On the one hand, it encompasses getting affiliates on board to promote the launch, communicating with them regularly, and making sure they have all the support they need. This includes the logistics of making sure they’re signed up and have the right link… being able to respond to them quickly when questions arise… following who has mailed, who is going to mail, and who needs to be prodded to mail… plus, staying in close touch with the top affiliates and partners.
On the other hand, it’s about getting them riled up and excited about promoting your launch. If you’re going to do a big JV launch, you’ve got to get all of your partners fully on board well before the start of your prelaunch.
To do that, you’ve got to know what motivates them and understand how to use that knowledge to sustain their excitement throughout the entirety of the launch.
“Couple files for bankruptcy two years after winning the $50 million Powerball Lottery.”
“Teen rock sensation is rushed to hospital as a result of drug overdose.”
Sadly, these “victims of success” continue to make headlines every single day.
Celebrities often don’t handle success very well. Neither do many entrepreneurs.
I mean, look at the Internet landscape… companies rise and fall all the time. Yes, there are other market forces at play that can cause a business to falter, but mishandling success can be a major problem.
An entrepreneur might have just had a couple big product launches and brought in some serious money and momentum to their business. From all accounts, everything is going well.
But wait…this same business that crushed it with big product launches the year prior is now in the red and in jeopardy of closing its doors.
This common scenario continues to play out ALL the time on the web.
So, what mistakes are being made here to corrupt their product launch success?
Here are four common ones…
1. Getting trapped by the “Ferrari Complex”
This is where an online entrepreneur has crushed it with a big launch and generated a ton of money and then goes out and buys a Ferrari. Now, it may not always be a Ferrari, but basically they overextend themselves and attempt to expand their lifestyle beyond what their business can handle.
In a matter of months, they go from zero to hero back to zero and are mystified why their online business didn’t make it.
2. Growing Your Team too Quickly
After a successful product launch, there is a temptation to use some of this cash injection to hire a bunch of new people to grow the business. Outsourcing projects and hiring staff can be a very wise decision, but we have to be careful not to scale up our costs too quickly, otherwise our financial success could dwindle quickly.
3. Delivering a Poor Product
Another scenario we commonly see is when people invest way too much time on running their product launch and too little time creating a killer product the market will want. The product launch is a huge success, but due to the poor quality of the product and so so customer support, refunds are coming fast and furious!
In a successful product launch, it is critical to focus on both the front end (marketing) and the back end (product delivery and customer support). If you focus too much on the marketing, you run the risk of not retaining customers for very long. Conversely, if you zero in too much on product development, your sales and conversions may not meet your expectations.
4. De-valuing Your Product
We have seen a number of entrepreneurs launch their product for $2000 only to offer it as a bonus or for a deep discount a month later. This strategy will cannibalize your life-time customer acquisition value and quickly stifle your business growth.
Sometimes the MOST important decisions in the life of your business will happen AFTER you have experienced some success and had a killer product launch. How you handle your success will ultimately determine the long-term viability of your business.
So, act wisely!