How to Add $1 Million to Your Business With a Successful Product Launch

The product launch is the rocket fuel that can be used to cost effectively and quickly grow your business, and we have seen many product owners leave millions of dollars on the table by not fully understanding this key concept.

Implement these strategies to add at least $1 million to your next product launch and your business.

Relaunch the same product: Amazingly enough, many product owners use an almost tissue-like mentality when it comes to launches: do one and then run to the next one and then repeat with a new one. This creates a hamster in a treadmill effect and can burn you out. Instead, polish your product and re-release it in 4-6 months. In the meantime, use these strategies to create post-launch income.

Launch another product: Having said that, you should have another product in the wing in case your product is seen as old and tired.

Launch into other markets: In many cases, with some tweaking, your product can do very well in other markets entirely, what are also known as blue ocean markets. In some cases, we have seen more money made in these markets than the original core target market. See the Blue Ocean textbook in the Resources section for more information.

Followup on the non-buyers via phone: Don't fall into the fantasy that all your buyers will come from email alone. Follow up with the non-buyers and convert them via the phone (you can outsource this step for a % of the sale, and explain to your affiliate that their commission will be adjusted by the commission of the phone staff).

Followup on the non-buyers via direct mail: Lastly, implement a direct mail strategy to follow-up with your non buyers as well. Most product owners hear about the 1% response rate and believe that it's too expensive to implement a direct mail campaign, but again, these are some of the hottest leads you can acquire. A 5% or higher response is more common when this list, and you can implement a 3 step postcard campaign, even in today's market, for about $1.

By implementing these simple steps, you can add 7 or even 8 figures to your business, as many of our clients have done.

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