The product launch formula is a technology invented by American entrepreneur Jeff Walker. He is the ancestor of the info business in the form in which we are accustomed to seeing it. His launch technology does not involve direct aggressive sales, but sales by warming up interest in the product, generating needs, and creating interest in the speaker’s personality. This technology is suitable not only for launching online training but also for offline seminars, selling consulting services, etc.
How to identify and gather a target audience?
Your success will depend on how well you understand your audience: their pains, desires, and how well you can adapt your product to those needs. When creating your online training, always think about what problem of people you are going to solve. For example, a psychologist does not sell a series of 10 lessons, but solutions to specific problems.
This can be an improvement in relationships with parents, or children, getting rid of depression or anxiety, and for each of these problems, the psychologist should have a specific online product.
The subscription base is a key asset of any info business. So, in the first stage, your task is to gather people with whom you will continue to work. To date, the most accessible and easy option for promotion is Instagram. Here you can use targeting advertising and advertising with bloggers. To enhance the effectiveness of the advertising campaigns, it is effective to buy real Instagram followers and other involvement metrics to create an influential profile packaging, create a trusted first impression in the profile, and achieve better conversion rates for advertising traffic.
If you do a launch through mailings, a lead magnet is a good option. A lead magnet is a small piece of your product for example a checklist that you give to a person for free in exchange for their subscription.
For the first launch, it is recommended to collect 1,000 subscribers on Instagram or in mailing. Over time, you’ll understand the math and find out how much money 1 subscriber brings you. This means that when you buy ads, you can predict the results and know that the ads will pay off.
Warming up the audience before launching an online product
The task of warming up is to generate interest in the product, and the speaker and make people want to buy before the sales open. For a quick warm-up, it is effective to do a free webinar or marathon. A marathon can be held directly on Instagram through posts, stories, and live broadcasts, and a webinar through YouTube.
The standard scheme of any selling webinar consists of 3 key stages: touching on the pains and desires of your audience, hints that the problem can be solved, examples of how the problem is solved, and leading to a sale.
As for the marathon, the task is to tell a person about his problem through a series of lessons and lead to his first result. Next, show that there is a comprehensive solution to the problem in a paid product and then open sales. The task of the marathon is not to solve the problem completely, but to point out its presence, to talk about what will happen if the problem is not solved. And if possible, let the person try the first results from the product. For example, a psychologist can give techniques for relaxation and stress reduction. The task is simply to show that you can do your job and direct a person to a complete solution to the problem. If you are a specialist in Instagram promotion, help the person to increase activity in the form of likes and comments, and if he wants to turn this activity into money, direct him to the main training.
Sales of info product
After getting acquainted and preparing the ground, it is worth moving on to sales. As a rule, this is a series of sales letters or posts where you talk about the product, cases, and so on. The results of this stage depend much more on the stage of warming up and thinking through a product than on the sales themselves. This is precisely the ideology of the launch: to bring people to sales when they want to buy, and they just need to be given such an opportunity.
Sales can be enhanced at each stage through different mental triggers: authority, storytelling, and reciprocity principles. One of the most powerful triggers is social proof, which is formed through reviews, successful cases, as well as high statistics. So, it is effective at the first stages to regularly buy Instagram followers, likes, and comments to gain confidence and involve a new audience. Another important element of a launch is to limit the sales window and create scarcity around your product.
After the main sales, you can consider additional sales to those who have already bought the training. For example, additional training or personal work.
To sum up, for a successful launch, you need a working product. This means that it is sold for at least $1,000 to $2,000 with 1,000 to 2,000 subscribers.
Then it’s important to set up advertising and build a subscriber base. Everyone will have different numbers, but for a strong launch, you need about 5-10 thousand subscribers.
Launching an online product is quite hard work, especially morally and emotionally. It requires a lot of concentration and the ability to do everything within strict limits. That’s why a team, that will help and support you, is also important.