If you’ve heard of Stompernet or Butterfly Marketing or Rich Schefren’s coaching program, chances are that you’ve seen some of the effects of Jeff Walker’s Product Launch Formula. Jeff has taken processes that big companies use to launch new products and translated that into a process that anyone on the internet can use to launch their own product – like an ebook, home study course, software package or coaching program.
The main thing Jeff stressed in his talk was that you need to turn marketing into an event – an online “soap opera” that leaves people wanting more up until you launch the product. The foundations for the product launch are offering people enough content that’s extremely valuable that they can’t wait for your next email with more goodies. During the process, you are educating them about your upcoming product and asking for feedback so that you can address all objections up front – and that by the time you are ready to sell the product, you’ve already answered all their questions. All they need to do is buy.
So, how does it work? You must put yourself in your customers’ or clients’ minds and think – what is it that would convince them to buy my product or service. Remember, people buy a future. When they buy from you, they are buying the story you tell about how your product or service is the solution to their current problem.
To do so, you must gather as much information as possible during pre-launch. So, you might tell people a bit about your upcoming release and ask for feedback such as “What’s the biggest question you have about …?” One great strategy Jeff mentioned was to offer to give away a free copy of your item to one person who leaves a blog comment answering “Why they need the product the most and how they plan to use it.” Imagine having hundreds of comments from people who are telling both you and the world how this product will solve their problems. That’s incredible social proof that others find this product valuable!
You will then create all sorts of pre-launch content (video, audio, blog posts, email, ebooks, etc) that build momentum for your launch. The point is to offer all sorts of great stuff for free so that people start sending it to their friends and get them talking and passing it on and referring your stuff to others so that by the time you’re ready to launch your product, lots of people who you would have never reached yourself now know who you are.
So what does all of this pre-launch content look like? It’s designed to walk people through your sales process over the course of a few weeks or even months. We live in a world overloaded with information, so if you were to offer all this information at once, it would overwhelm your visitors. Instead, you offer it in bite sized chunks little by little, educating them throughout the process, getting feedback, and creating other content based on that feedback. Specifically, you want to gather as many questions and objections as you can – so you can address that in your next freebie.
During the process, you also want to offer case studies and testimonials showing how your product or service helped people just like them. You tell them the story about how someone was struggling with a core problem and had searched everywhere for the answer. Then, they found you and now, life is great. Their problem has been solved, and they are so grateful to you for your help.
The Sales Funnel for Offline Businesses If you have no intention of launching a big ticket item online, you might be wondering how this might apply to you. Essentially, this is the heart of the sales funnel and what marketers call the buying process.
- Awareness – Before someone makes a purchase, they must first realize they have a problem.
- Research – Then, they’ll do research to determine just how severe their problem is and whether they can fix it themselves or if they must hire outside help.
- Evaluate Options – Once they’ve acquired all sorts of information, they’ll analyze it and look for possible solutions. This is the point where they might contact you for a free consultation.
- Buy – Next, if they decide they can’t do it themselves, they make their purchase.
- Re-Evaluate Purchase – Finally, they re-evaluate how successful their purchase was. Did the product or service do what it promised? Was it a good decision?
Jeff’s product launch system takes prospects by the hand through the first four steps of the buyer’s process. As they look at their own situation, they receive more and more information that speaks directly to them – their frustrations and concerns – and offers them a new way of doing things. Finally, when the product is launched, they are ready to buy.
Personally, I have not picked up Jeff’s Product Launch Formula, but I have heard great things about it and am extremely curious. He will be speaking at Rich Schefren’s upcoming conference in Delray Beach, so I hope to learn more then.
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