MBqDIZ3o8jT5UAjZsBUulc6LJiM3pen: Successful

Launching a Successful Product Online

Successfully launching a product online requires 2 main components: 1) a product that is successful and 2) an understanding of how to connect online with the appropriate target markets.

If you are going to focus on using social media marketing campaigns to launch your product, it's a good idea to consider which social networking sites are best for the product.

In other words, if you have a relatively inexpensive product that is geared at teens, MySpace may be a top social networking site to consider. If you have a mid-price product appealing more to middle-class adults, Facebook could be a good choice on which to concentrate your efforts. And if you have a product at any price appealing to innovators, Twitter may be your social networking site of choice.

Of course, in this example you could use all three social networking sites. Yet if you have limited time resources for running a social media marketing campaign, you do want to focus your efforts at the most likely places where your target markets hang out online.

With a worthwhile product, which of the product's benefits would most appeal to your top target market?

If you've decided to target the teen market on MySpace, then you might emphasize the cool factor of your product or "be the first one at your school" to have this new product.

If you're deciding between a Facebook target market and a Twitter target market, think about which of your product's benefits would more likely appeal to which group.

While contemplating the answers to these questions, you also have to consider that you must give people what they want, not what they need. Yes, you may be able to sneak in what they need as part of a product they want. But in general people are more likely to get out their credit card for a product that catches their fancy or answers a problem they actually want to solve rather than a product that's good for them but that they couldn't care less about. (Castor oil, anyone?)

Timing of a product launch is also important. If you have a seasonal product, launching in the wrong season is probably not a good idea. Or if you have a product that at first appears not to be seasonal, but can be tweaked to be seasonal, you might be able to increase the interest in your product. One example is a product that can be positioned as a "romantic" product - with Valentine's Day a holiday date that could work for the launch of the product.

If you want to launch a successful product online, start with a worthwhile product that fills a want and then target the social media networking sites where the target markets for that want are most likely to be found. Engage with your potential customers so that they can get to know, like and trust you.

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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.

Preparing a Successful Product Launch Strategy

Generally speaking, don't expect to launch in less than 8 weeks and that assumes a top-notch dedicated team with a proven track record. Do this on the side, and you're looking at 6 months, at least to launch.

In today's fast moving market, your product will probably be irrelevant by that time.

Cover all of these issues and more to determine whether they are ready to launch and in what timeframe.

Compare the emails from as many launches as you can to see how many are being sent to the JV partners to send out. Each launch tends to take on its own personality and the main crux of this is the influence your launch host has.

Make sure you save the emails the launch owner asks you to send as it will provide insight to you on how you may ultimately communicate with your JV partner's lists during your launch.

How often do they communicate with their JVs? Is there a JV blog and how often are results posted?

Be very wary of launches that post only relative results without actual sales numbers. This is usually a red flag that the sales are weak.

Get actively involved with the interaction your launch host provides. Pay particular attention to the tactics they use to build hype, communicate results and most importantly motivate you.

Do they use different communication between the general list, the opt-in list and the buyers list?

How often do they communicate with their JVs and when do they communicate?

What is the style of communication? Short and to the point or more storytelling?

Is video used and if so, how is it used? Are the videos selling or are they teaching or both? How long are the videos?

What is the payment plan for the affiliates? Are residual commissions paid? Are backend sales paid as well?

Are there contests and prizes?

Ask yourself how inspired you are to push your list for both optins and sales?

Are the prizes being offered motivating? Exciting? What's the buzz about the prizes? You can use this to help you figure out how best to provide excitement and healthy competition in your launch.

The time to launch a product is when everybody's about to talk about your product. By the time everybody's talking about it and by the time you launch to take advantage of that buzz, it would already be too late.

In the words of hockey world champion Wayne Gretzsky: "I skate to where the puck will be, not where it is." You need to do the same.