A failed product launch is not the end of the world.
In fact, when you play your cards right — it should be a stepping stone for a sold-out launch next time.
In this issue I’ll walk you through exactly what to do when one of your product launches fail, and how to make sure you’ll do better on the next one.
There’s nothing that hurts more than a failed product promotion or a launch.
After all that hard work…
Countless hours spent planning, creating, writing, shooting and scheduling….
Seeing you revenue graph stay the same is a whole other level of discouraging.
When I had my very first product launch — I received exactly two sales. Two.
But using what I’m going to teach you today...
I was able to turn that around and turn those 2 sales — into 30 sales only a few days later.
How did I do that? Simple.
I just did the opposite of what most people do.
Here’s what I mean:
You see, when most people see a failed launch — they usually take it personally:
- They think it means they are a failure
- They think it means they are not smart of capable enough
- They think it means people don’t like them or want to work with them
But when you look at things like that… how can you expect to get better? To achieve the results you want?
When you are stewing in the problem, you will not be able to see a solution.
And the solution is always the same:
If your launch failed, it means an element within the puzzle of your launch isn’t performing, and needs to be updated.
Find the problem, fix it, and you’ll be able to launch again with better results.
I tell my clients this every time:
When you do a launch or a promotion — you either get the results you want, or the lesson you need.
What do I mean by lesson?
I mean you’ll learn what piece of your puzzle didn’t work, and what to do to fix it.
So in this issue —
I'll walk you through the 3 core causes a launch might fail, and what to do within each to fix it and have a (way) better launch next time.
Let’s get into it:
🔴 #1 cause of a failed launch: The offer is not good enough
The most common reason why a launch might fail is when you’re offering your audience something that don’t really want to buy.
So when analyzing you launch’s offer,
ask yourself the following 3 questions:
- Desire vs need — Am I offering my audience something I think they NEED, but not something they communicated they WANT?
- Relevance — Is my offer truly relevant to the audience I have?
- Positioning — Did I position my offer correctly, or communicated the value correctly? This is about whether you solve a big enough problem, or promise a big enough desire.
🔴 #2 cause of a failed launch: The sales mechanism needs updating
Your "sales mechanism" is the sales method you used for you launch. Your funnel.
A webinar funnel?
A free challenge funnel?
A video series funnel?
When your sales mechanism, or funnel, is broken or not selling as well as it should — you’ll be able to see it in your funnel’s numbers:
Its conversion rates will be below “benchmark”, below average.
For example, if I was using a webinar funnel for my launch:
- Webinar optin page conversion rate — If my optin page converted below 40%, it means that page needs work.
- Webinar show up rate — If less than 25% of the people who signed up to my webinar showed up — it means the email or SMS reminders I’m sending to people need updating. Because people are not excited enough to actually show up.
- Webinar sales rate — If my live webinar converted in less than 20% — it means my webinar content needs work.
See what I mean?
Every step in your sales process has to be well thought-of and optimized to fulfill its goal.
When it isn’t, your funnel will not perform and you will not see the revenue you want.
🔴 #3 cause of a failed launch: Not enough traffic
Lastly, the traffic.
If both the offer you have is great, and your sales process performing, but yet your revenue is too low — it means one thing:
You didn’t have enough traffic (people) who entered your sales process and had a chance to buy your offer.
So in this instant, what you need to work on is improving your traffic:
- Improve your emails’ open rates and the click-through rates
- Improve your work on social media and your ability to drive traffic from there (especially through your stories)
- Add advertising, so people who weren’t exposed to your promotion will be.
At the end of the day, your launch is a game of two things:
- The messaging you use
- And the numbers you get
By improving and working on those after each launch is done — you will be able to earn more and more from each launch you do.
Is it work? Yes.
Is it easy? No.
But is it worth it? Absolutely.
Because when you get one launch right… your entire life can change in less than a week.
Rooting to your success,