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The time has come: You’re gearing up for your new product launch and you can’t wait to get it out into the world. You know this is something your audience needs and will truly benefit from. However, you’re worried about the actual launch. How do you prepare? What happens if it doesn’t go as planned? And… are you forgetting something??!
This is where I want to step in because I know that thinking about everything that needs to be done and when it needs to be done can cause even the best of us to freeze in place. And when you add in the fact that you’re not sure how to get it all done, you’re at risk of staying stuck and postponing that launch indefinitely.
There’s no shortage of visionary product ideas from the entrepreneurs I’ve worked with, but I’ll be honest — some of those products never see the light of day until I come along because they need a plan to launch them well. (And some of the best products suffer from lackluster results because the entrepreneur loses steam when they realize just how much goes into a launch.)
You don’t have to wait to have a strategic partner on your side to launch your offers; you just need to know how to create a solid launch plan. That starts by busting some of the most common myths about new product launches that I see all the time.
The 5 biggest myths regarding a new product launch
They have to be massive.
Bigger is not always better. I don’t want you to think about expanding and marketing to everyone and their mother just because you’re launching your new product. Continue showing up and nurturing your current audience. You really can create an outstanding customer experience (even if they aren’t your customer just yet).
Remember, they’re your people and they want what you have to offer. Don’t leave ‘em hanging!
They have to cost half a million dollars.
You’ve probably already spent plenty of time, money, and energy into creating your one-of-a-kind product. The last thing you need is a crazy expensive launch to get it out there. I want you to be smart when it comes to marketing your new product, but you don’t have to spend thousands of dollars to get it in front of the right eyes.
You should know what your business revenue and expenses are so you know how much you CAN actually spend on your new product launch. I want you checking in on your cash flow regularly (yes, really look at it), so then you’ll know how much you can spend on your launch, realistically. And it’s OK to shun the idea that you have to have a 7-figure launch (with 6-figure expenses, they don’t ever tell you that part). You can choose to launch a product with a goal to make $5,000. That’s a great place to start — and puts so much less stress on you.
A complex funnel or lead generation strategy is necessary.
Nope, a complicated funnel/lead strategy does not have to be a part of your new product launch. Having an intricate strategy does not automatically equal more people seeing your product, and increased sales. Honestly, the right freebie with a simple download form, followed by a sales email, can be a great start before you head into your new product launch. Think of how you can provide value for free — even if it’s via Instagram or YouTube — before you pitch your new product. That’s all you need to do. No complex (and slightly bro-marketer-y) funnels needed.
I like what Albert Einstein said: “Everything should be made as simple as possible.” I want to challenge you to stay focused and be as prepared as possible for your launch. You don’t need to worry about doing all the things, either. Keep it simple!
They have to make a lot of money.
Some launches have completely different goals — and not every single one has to have a 6-figure one (contrary to what it feels like the online biz world tells you). For you, your goal may be to create an offer that finally streamlines your internal processes or addresses a recurring revenue concern you’ve had. Other times, your launch is to fill a need for an audience you want to reach or to kickstart a change in your business’s mission. Not every goal has to be about revenue. If you’re not sure what your launch goal is, you can check out the Six Pillars inside my Shiny Object Syndrome workbook. These pillars will help you see exactly where your business should be focusing in the short-term (outside of revenue).
You should give up if the launch was unsuccessful.
Has your first launch flopped? That really sucks — but it doesn’t mean the product is bad or you shouldn’t launch it again. Instead, it’s time to get to the root cause of the launch’s performance. You might just find that there were external factors that you couldn’t control, like a wifi outage during your webinar or a global pandemic when your main offer was an in-person event.
Of course, sometimes you may need to scrap the product, but I’d argue that’s rare. Sometimes it just needs some tweaks to what’s included or how it’s promoted. No prototype is spot-on from Day One. Look at Apple: They’re still releasing and improving their tech with every new update.
The phases of a launch (and why you need to know them)
I have news for you. Deciding to launch a new product isn’t a one-step thing: Launch that new product. It’s actually four phases, and you need to know each of them to make sure you’re pulling off the launch. They are:
Product development and improvement
This is where you figure out what you want to create, start to create it, and ask people to take it for a test drive. From there, you can tweak it and improve it before taking it to market.
Priming your audience and getting them excited about your product
You can’t just launch a new product to an audience of 12 people and expect hundreds to buy. You need to be working now to prime your audience, help it grow, and get them excited about the solution you’re creating.
The actual launch itself
This is the “celebrity” phase everyone thinks about when they want to create something new. You’re telling people about how awesome it is, they’re into it, they’re buying it — and everything is going gang-busters. You have to have the first two steps to get here, though.
Looking at how your launch went is just as important as planning it. With my Simple Six Framework, you can evaluate the parts of your launch for success or improvements. This way, your next launch will be even better than the last.
To help you complete each of the four phases of your launch well, let’s talk about what you need to be doing now to get ready.
5 factors to consider before launching your new product
I want you to think about the tools you’ll be using to share your brand-new product with the world. Which social platforms do you plan to use to promote it? Whether you prefer Instagram, Facebook, LinkedIn, YouTube, or something else (you don’t have to be on every single one), make sure you’re showing up on that platform consistently. You may also want to start a podcast, create a YouTube channel, etc. all with the purpose of increasing your reach.
Next, consider the integrations you need to make purchasing and onboarding as smooth as possible for your customers. These people are making an investment in what you created after all, so you want to make sure this step isn’t difficult for them.
You may need just a simple purchase form with a Stripe integration, or you may need a full-blown course platform like Kajabi or Teachable. Make sure you know which tech tools you need before you announce a launch because this phase can take some time to research and implement.
Think about your audience. Do they actually NEED what you’re selling? How often do you interact with them, and when was the last time you did so? They won’t be interested in coming back if they’re always being sold to-no one wants that. They will come back if they connect with you though, and if what you’re providing them is valuable.
Don’t forget: A stronger customer experience equals a stronger business.
Your promotion strategy.
What channels are you most active on these days? Consider your email list, your social media pages, blog posts, podcasts, etc. Your next step is to figure out which one will be your primary one. If you haven’t been as active with your email list or Instagram page, it’s time to start showing up and interacting there more BEFORE you go into launch mode.
Even if you are a one-person show, you need to be ready for launch week. Are you prepared to really be “ON” for a week? You can’t just make one or two posts on social media and send an email or two during launch week. You need to have your plan in place, be focused, and continually share and connect with your audience. You also need to plan to be “the face” of your business — at least for this week. Make time in your calendar to go live on Instagram, share on Stories, etc.
The best way to launch your new product with ease
If you find yourself struggling with launch overwhelm and anxiety, you don’t have to stay stuck there. I developed my own Product Launch Project Plan to help you prepare for and manage your launch with ease. Whether it’s your very first one or you’ve got several launches under your belt, this plan has everything you need to make sure you don’t miss a beat.
Not only will this template help you nail your next launch, but it can also be imported into various task management systems — including Asana, Trello, and Clickup — so you won’t have to fumble with any technology to get started.
Launching your brand new product might involve a lot of work, but when you plan it thoroughly and execute it with intention, the results can be staggering. Not only can you help more people (without 1:1 services taking up all your time), but you can also make great money. Let’s launch!