Planning

Most product launches don’t fail in the implementation phase. They fail in the planning phase.

It’s typically not because your copywriter or graphics designer produced work that is sub-par. Sometimes that is the case for sure (although I’ve managed several 6-figure launches for which the copy and the graphics weren’t all that great).

Poor copywriting and graphic design absolutely could play some part in the failure of your launch.

It could be your target audience (maybe there is a message-to-market mismatch?)

Perhaps the pricing of the product is off and more than the market can bear.

Or was there really no market or demand for the product to begin with?

Any and all of the above can play a factor in whether your product launch succeeds or fails.

Here’s my point…

An issue in any of these areas can be identified in the planning phase WAAAAAAAYYY before we get to implementation.

If your launch plan is flawed, there’s a really good chance that you’re going to have some problems with meeting your goals and getting the results you want during implementation.

Yes, there have been some cases in which we had a really solid launch plan and we still didn’t get the results we expected.

And, on the flip side, I’ve been apart of some Hail-Mary-no-plan-fly-by-the-seat-of-our-pants launches that did pretty darn good.

(To this day I still don’t know how we pulled some of that stuff off. Must have been some voodoo magic something or another going on.)

I digress. Let me try to reel it back in…

Answer me this: If you knew the steps to create a launch plan that would increase the likelihood of a lucrative and profitable launch, wouldn’t you rather do that? Versus wing it and leave it all up to chance?

I thought so. You’re a smart and strategic CEO of your business.

So, the very first step we take when planning lucrative launches with our clients is to establish goals and objectives.

Now, before you’re tempted to skip over this topic of goal setting, let me just say that you think you know how to set goals for your product launch but you really don’t.

I promise you don’t.

“Well, how hard can it be, Lavada?”

“If I’m setting a revenue goal for my product launch, then I just state how many sales I want to make and that’s my revenue goal. Yes?”

No ma’am. Absolutely not.

If you want to learn how to set product launch goals that make dollars and sense, check out our complimentary #LucrativeLaunch Goals training here.

Sooooooo. I hear you have a program, a product or a service you’d like to launch online.

Last launch didn’t go as planned?

What was it? Copy and messaging not strong enough?

Offer not enticing or compelling enough?

Or, maybe we didn’t quite have our ideal client and target audience description dialed in. Whatever the case, you’re going to want to hear what I have to say as you prepare for round 2.

Before I get into all of that, let’s first make sure we’re on the same page about what a product launch is.

Businessdictionary.com defines a product launch as “The debut of a product into the market. The product launch signifies the point at which consumers first have access to a new product.”

Okay. That’s not too bad, I guess. I personally like to define a product launch as an injection of revenue into your service-based business in a very short period of time.

Just recently, I led a marketing campaign that generated a quarter of a million dollars in 7 weeks. All online. All of the marketing happened online. The program was completely virtual and delivered online.

How did we do that? A Product Launch.

I once managed the marketing team for a live event. We had between 30 and 40 people attend the event and we generated just over $122,000 in two days.

How did we do that? A Product Launch.

Most of the clients I work with bring in between $25,000 and $50,000 over the course of 6 to 8 weeks. When you hear the phrase “product launch” going forward, I want you to think “cash infusion” or “marketing on steroids”.

Here’s the thing. When most people decide to launch a program, service or event online, they go ALL IN. (I mean all the way in.) WITH NO PLAN.

They jump straight into executing strategies and tactics (that’s the fun stuff right?). They exert lots of time, money, energy and effort. The end of the launch approaches, they have not met their goals and they say “What the @%!*& just happened?”

We didn’t think this thing through. That’s what happened.

We didn’t think through how much this launch was really going to cost in terms of time, money and other resources. Nor did we bother to ensure that our launch goals were feasible and realistic to begin with. Nope. We just pulled them right out of thin air. “That sounds like a great goal. Let’s go for it!”

No judgement here. I’ve been there myself. Everybody has and most coaches and consultants still are.

You’re different though. You’re smarter than the others. I know because you’re still here, reading this blog post. You know there’s got to be a better way. A more successful and profitable way to launch your programs and services online.

You’re right! See! I told you you were smart 🙂

Where Most Product Launches Fail

Most product launches don’t fail in the implementation phase. They fail in the planning phase.

So, the very first step we take when planning lucrative launches with our clients is to establish goals and objectives.

Launch Your Programs and Services (The Smart Way)

Lucrative Product Launches Don’t Just Happen. You Have to Plan for Them.