Product Launch Formula (and the Pony Express)
instantly put out of business by telegraph and railroad Internet business, late 96, early 97
Version 1.0 = first day revenue of $1,600.00 First time
Rich Schefren introduction
Got up and walked out of graduate school after product launch
Product Launch Formula
six hours to get to $1 million
(and instant mojo)
Jeff Walker Bio
People have over $100 million using Jeff's formula
Instant Momentum
Difficult to breakthrough when you sense obstacles
Jeff Walker manages 3-4 launches per year
lowest last year was $1.6 million
six days to get to $1 million
2008
Had blown up resume earlier
Used to think you go back to school when struggling
six months to get to $1 million Someone else
2007
Rich's top favorite tool for marketing Put it on resume he had 600 people signed up for newsletter
Product Launch Formula 1.0 = first day revenue of $289,000.00
2005
A couple of business launches
Formed the basis for Rich Schefren's business Fastest most certain way to gain stature in any market trumps everything else out there
six years to get to a $1 million
the business was him and 2 assistants
Rich had no business when he put Manifesto out
Impossible to reach on phone
Relationship with list
Rich sold $3.5 million in 24 hours
where the gold is at
(and changing diapers) they take pictures of your office in 1996, needed a merchant account
Had to take baby changing station of office Sales of $1000 to $1500 a month before product launch then did $15,000 a month after that
used PLF, did $60,000 in a month Immediate cash
Monthly continuity income Jeff Walker's Product Launch Formula Driving My Next Product Release into the Stratosphere of My Market
Doubled the size of his list Attracted JV partners and affiliates
What did he get
Take Action
Interaction with clients and prospects (his lists) have identified two more products to create Product launches are planned for those two new products ;-) Created home-study course
Andrew Jones - Introduction to Healing Your Pets at Home -ebook-
Video Products
Camtasia
good for
Office Mind Maps
ScreenFlow You get to raise your prices during a launch - key
Went from being $27 to $297 How did he do it?
Success Stories
created continuity program at $47 a month (had 100% opt-in). 200 of them are still in program
Million Dollar Hype
Jeff Walker - Product Launch Formula Blog Will have a new product coming out soon: Product Launch 2.0
Mind Maps
Camtasia Studio
Recommended Resources
Went from foodstamps to making $100,000 per year selling a board game based on medicinal products
John Gallagher
Mind Maps
Made $140,000 with a list of 800 people
Jane Savoid
got rights to market in Germany
Celestine Prophecy Enough great free stuff people can do good stuff with just that
Got 2,000 people to complete survey with 10 questions Did split test during the launch
Frank Bieniek
Had a fast action bonus
Using 3 mind maps to capture what to add
Price of 24 Euros
Made 3,000 conversions Launches keep getting bigger ($10 million is the new million)
Coaching
there is SERIOUS competition for partners
What Product?
Consulting
Examples
Music singles
You need great pre-launch content Talking about regular people is huge
Online books
Huge emphasis on 'proof' and 'case studies'
If people Opt-in, people get case studies
Any market you can think of
The next $100 million...
If you're going to be really big If you're going to do <$500,000 you don't need a launch team
What Market?
You need a launch team
Pop music single baseball coaches
Examples
Jeff Walker
You call pull off a $2-3 million launch with 2 or 3 people
multimedia tutorials
Product Launch Techniques Notes
Communication with your prospects is key Surveys
You need a CRUSHING offer
There's 2 weeks between playoffs and Superbowl to do pre-launch
Blog comments You NEED to be listening to your prospects
build anticipation telling people about it for 3 months
Entertain them...
The Attention Age Doctrine 2
Prospects are jaded....
then Rich released the home study course to keep the tension up
Teach them... And don't let them know they are being sold getting paid
Principals
Issues on Success
don't let them see it coming Your first launch is to your potential partners
Made $150,000
Physical products
There is more competition You do a product launch for those partners
Jeff uses them Rich Schefren uses them extensively
Jeff Walker's Product Launch Formula
Rich feels it's a business launch formula
Whoever sells the most gets a prize
Sold just over 200 during launch Sold an additional 100 in the four months since launch
It has to be a good product
Talk about headline weeks before you start selling product
Compete for partners... (they're jaded too) The launch is a conversation...
(That's what web 2.0 is really about)
If it's not, it's the quickest way to put yourself out of business
it has to be done ethically
The covert launch Turn big long sales letter sideways
Product Launch 2.0
builds excitement
People get free stuff
creates trust
1. Tell people you stumbled across a skill 2. I think it can be taught via video
Authenticity
(That's another thing that web 2.0 is about) Gather them in prelaunch
Do a pre-launch launch and do release to your 100-200 tightest prospect
4. I'm getting lots of great feedback on this
Objections
Answer them in prelaunch Make sure it works You'll learn what difficulties people are having
If you give name and e-mail I'll send you 3. some information over the next few weeks
Timeline
5. People want lots of content on this 3 or 4 weeks out
6. I'm going to have to get a better camera 7. I'm going to have to put it on a DVD
No proof, No launch
8. I'm going to put together a product with my formula Relaunch and the Business Launch
It's the copy, stupid. but... Made up story for learning guitar... Is very similar to self-help story
You can basically use the same copy for different launches
CRITICAL: the launch is ready when it's ready
To find out what you want, can you answer this short survey to help me better 9. understand what you want?
Timing
tensions builds up
Flawed strategy (you need to hit the right triggers at the right time)
tension eases up
on launch day, people can buy
No partner support (they need a sequence too) Sequences
Weak pre-launch content/material
You need a CRUSHING offer
Pre-launch sequence (answer objections, 2. build anticipation) 3. JV sequence (get partners fully on board) Launch sequence (collect the money, 4. create social proof)
Product launch disasters
Ineffective launch team
Events, Sequences, Triggers
If someone gives you value, you want to give them money
the mental triggers never change
You NEED to be listening to your prospects Product Launch Formula 2.0 coming soon
What is it you really need to learn? Ask people
up a few jags
Pre pre-launch sequence (identify 1. objections, finalize product)
Weak offer (doesn't fit what the market wants)
Flawed launch timing
Surveymonkey.com
Social proof
Product Launch Formula
Scarcity
The ultimate profit enhancer is a real strategic and tactical plan for the marketing and execution of your product launch
Stories Anticipation Community Mental Triggers
Reciprocity Commitment Controversy Reason Why Interactivity Multiple modalities Curiosity Proof the magic bullet Conversation E-mail Web pages Audio
The way you activate the triggers is always changing
Video Blogs Facebook Web 2.0
Twitter YouTube MySpace
do it by creating sequences Launch is turned into a story
Mass Control
put together by Frank Kern
People want to connect with people Looking polished is not generally the answer to selling stuff
It's okay if the lens cap flies up Don't send e-mails that say 'We' Get a picture of your prospect, put it above computer and write to that person
People buy from 'I', 'Me', 'You'
People's questions are really objections to buying down the line
Has Rich's life
Business Personal