Tag Archives: product launch formula review

5 Ways To Use Bonuses To Increase Your Product Launch Profits

While using the Product Launch Formula process to launch (or re-launch) your product or service can give you an unfair advantage, it’s not always understood how much adding strategically designed bonuses to your core offer can increase your product launch profits.

Not only can great bonuses increase your sales, they can also reduce refunds and retain customers. Of course you can’t just throw any old thing into the mix and expect magical results. But if you create bonuses that people in your market will see as desirable, you can supercharge your product launch results

Here are 5 ways you can use bonuses to grow your sales and profits…

1. Increase Conversions on Your Launch Offer

The most basic way to use bonuses is to offer them for free as part of your product launch offer. This helps boost conversions by giving your customers even more incentive to buy from you. This works particularly well when you offer a bonus that helps your customers optimise or enhance the usefulness of your main offer.

For example, if the core offer is a copywriting course, then you might offer a set of sales page templates as a bonus.

2. To Gain And Retain Members

If you are launching a membership site or some kind of program involving continuity (a SAAS for example) another great way to use bonuses is to retain members and keep them coming back again and again. Here are the keys to this method:

    1. Space out multiple bonuses over a period of time. For example, if you have a fixed-term membership that lasts for 12 months, you might give members the first bonus immediately, followed by a new bonus every two or three months. You can also give your best bonus as a “graduation bonus” for those who stay with you through the entire training.
    2. Be sure your bonuses are highly attractive. This strategy only works if your bonuses are valuable and something that your members really want. That means you have to do some market research so you have a better understanding of what your audience wants. So for example, if your market is already purchasing a certain type of product, then giving them a product similar to what people are buying, or even a better version, would be a great bonus.

3. To Increase ‘Stick’ And Reduce Refunds

There are two ways to increase the ‘stick rate’ of your offer and reduce refunds with bonuses:

  1. Offer a surprise bonus. Give buyers an unannounced bonus on the download page or in a followup email. This can help you to exceed your customers’ expectations, which leads to higher customer satisfaction and lower refund rages.
  2. Offer a delayed bonus. The idea here is to announce the bonus, but let customers know the bonus will be sent to them after a certain time period (which should be after the refund period has expired).

Here’s another way to use bonuses to grow your business…

4. Motivate Your Affiliates To Promote Your Product Launch

Want to see a quick boost to your sales? Then offer your affiliates an awesome bonus for good performance. In most cases, using cash as a bonus will get you the best results. Most of the big launches have huge cash prizes for the top couple of affiliates, and nice prizes for the rest of the top 10.

Here are three popular ways to use this method:

  1. Create an affiliate contest and offer a cash bonus to the top five or ten affiliates. You might also create a random drawing where everyone who makes at least two sales during the contest period is eligible to win.
  2. Create an lead generation contest and offer a smaller cash bonus to the top five people. Your goal with this strategy is to encourage your affiliates to work overtime helping you grow your email list. As you know, a product launch is one of the best ways to quickly grow your list. Incentivising your affiliates to help you with this can have a massive ROI when you consider the future sales you’ll make to the prospects referred to you.
  3. Offer a bonus every month for any affiliate who crosses a specific sales threshold. For example, if an affiliate makes at least 25 sales, they’ll either get a flat cash bonus or an increase in their commission rate.

And finally…

5. Add Value to Your Future Affiliate Offers

One of the biggest assets you’ll end up with from using the Product Launch Formula process to do a JV Launch is the email list you build from all the traffic your affiliate partners send you.

And once you’ve finished your launch, you can then return the favor by promoting suitable products and services as one of their launch affiliates. Of course when you participate in launches, you have competition from dozens if not hundreds of other people who’re all promoting the same offer.

The way you can set yourself apart is by offering an in-demand, valuable bonus to anyone who purchases the affiliate product you are promoting through your link. Not only does this boost conversions on the frontend, it also gives you a chance to make sales on the backend via offers you embed inside the bonus.

In other words, embed links to your other products and services (or affiliate offers) inside the product you are giving away as a bonus, and when people purchase something from a link in your bonus, you get paid.

So there you have it. 5 simple ways you can use bonuses to grow your sales during your product launch.  Your homework for this lesson is to write down all the ways in which bonuses could benefit YOUR business.

For example, if you have a sales page, then you’ll want to add bonuses to boost conversions.

If you have an affiliate program, then you should work out what sort of bonuses you could use to motivate affiliates.

The key is to make sure your bonus is valuable, highly related to the main offer, and something that your prospects really want. If your bonuses meet these qualifications, then you are very likely to see increased sales and profits.

I really hope this helps you to increase the value of your product as you use the Product Launch Formula Process to build your business.

Warm regards,

Rocky Tapscott

P.S. Being able to create a Perfect Product is a great start, but you also need a way to generate sales in a consistent way. Running a Product launch is a proven way to not only build your list, but generate Social Proof and make a large number of sales quickly. To learn how to launch your product successfully, check out Jeff Walker’s free Product Launch Masterclass here.

PLUS: When you’re ready, here are 3 ways I can help you to grow your business using product launches:

1. How To Build A Profitable Launch List.
Building an email list is critical if you plan on doing a launch for your product, service or business. List Warrior will show you a proven way to use free software to build a responsive list of prospects who are ready to buy from you during your launch. Click Here.

2. How To Create The Perfect Product 
Creating a product that is perfect for your audience does not need to be difficult. How To Create The Perfect Product shows you how to build high value products your audience will love one after the other. Click Here.

3. How To Attract Buyers To Join Your Launch List So They Can Purchase Your Perfect Product.
Once you have created your Product Launch List and your Perfect Product is ready to go, you need to attract people into your world so they can buy from you. One Minute Free Traffic gives you a proven way to attract buyers with ‘Automated Traffic Machines’ so you can send those people to your optin page, your sales page, your Facebook Group or anywhere else you choose.    To learn more Click Here.

And don’t forget to check this out 🙂

How to Earn $20 in 20 Minutes With Any Topic, Niche or Hobby

How Building A Strong Brand Can Help Your Product Launch

If you’re running a product launch for your new product or service, you’ll be using direct-response marketing campaigns to get the word out. That means you’ll be putting ads in front of people, most likely using an email sequence.

And if you’re able to build a strong brand in the lead up to your launch, you’ll already have the necessary “top of mind” awareness to generate sales. If you’ve neglected your branding, your prospect is often going to feel like they can get what you are offering from one of your competitors.

To get awareness from people in your market, branding is very important. That’s why I’ve created this frequently asked question list with answers. Take a look…

Q: Some say a brand is about the feeling you get as a customer. What does this mean?

A:  This means that your brand should evoke the same feeling that your customers experience when they use your products or service.

For example, gourmet chocolatier Godiva is all about creating a feeling of sophisticated decadence an indulgence. From their golden wrappers to their writing style, to the gourmet products themselves, Godiva makes people feel special and indulged when they eat the chocolate (or receive iGodiva chocolate as a gift).

Now compare that to the branding of Mountain Dew, which is positioned to appeal to the “dudes” who like skateboarding, surfing, bungee jumping and extreme sports. Mountain Dew is all about creating excitement.

Q: What sort of factors does my branding entail?

A: The short answer: pretty much everything.

You see, a lot of people think about branding in terms of a logo. So they pick some colors and a logo design to convey their brand’s feeling, and then they call it a day. But the truth is, your brand should permeate every facet of your business. This includes:

  • Your logo
  • Your slogan
  • The colors and designs for your website and marketing materials
  • Your product packaging, and how your stuff looks when your customer receives it
  • Your online and offline content and marketing materials
  • Your customer service
  • Your reputation
  • Your Vision and Mission

And much more…

So whenever you do anything for your business, whether it’s creating the new product you’re about to launch, putting together your pre-launch content, or designing a landing page, think about how this activity or item reflects your brand.

Q: How can I build “top of mind” awareness?

A: When your prospects think about their niche-specific problems, you want them to associate your business with the solution to those problems. And the way to do this is by building brand awareness.

For example:

  • Sign off emails, social media posts and other content with something related to your brand. E.G., John The Copy Doctor.
  • Create contests with a focus on building brand awareness. For example, ask entrants to create a short video commercial based around your brand.
  • Be sure your ad campaigns strongly incorporate your brand (with your slogan, logo, etc.).

Example, Product Launch Strategy is creating a brand around “launching products and services” which help business owners make money building and launching their dream business so they can spend money enjoying their lives with the people they love.

To sum up…

Creating a product launch for your product or service from scratch can give you awesome results. But the real magic happens when you build the top of mind awareness needed to generate sales even when your ads and launch messages aren’t sitting right in front of your prospect’s nose!

If you can build that kind of awareness, both before and after your initial launch, you can create a long-term, sustainable business for yourself and your family that will allow you to prosper for many years to come. To learn more, check out Jeff Walker’s free Product Launch Masterclass here.

Talk soon,

Rocky

PLUS: When you’re ready, here are 3 ways I can help you to grow your business using product launches:

1. How To Build A Profitable Launch List.
Building an email list is critical if you plan on doing a launch for your product, service or business. My 1-2-3 List Building Cheat Sheet will show you how to build a responsive list of prospects who are ready to buy from you during your launch. Click Here.

2. How To Create A Signature Product Out Of Thin Air In 72 Hours Or Less
Creating your product does not need to take weeks or months. My 72 Hour Product Creation Guide shows you how to build high value products or bonuses one after the other in 72 hours or less. Click Here.

3. How To Outsource Your Product Creation And Make It Hands Free.
Outsourcing the creation of some or all of your products and bonuses is a great way to save your time for the more important (and more fun) things you’d rather be doing. Grab my Hands Free Outsourcing Cheat Sheet to learn more. Click Here.

And don’t forget to check this out 🙂

Jeff Walker’s free Product Launch Formula training.

7 Steps To Creating An Engaged Audience For Your Product Launch

Engaging your audience during your product launch is the key to developing relationships, building trust, and creating more profits. That’s why you’ll want to use this handy-dandy checklist to help you capture and keep your audience’s attention. Take a look…

  1. Create A Highly Targeted Audience

The absolute first step in engaging your audience is to make sure your audience is targeted. That means bringing traffic in from targeted sources.

For example, if you’re running a Facebook ad campaign, then be sure to narrow your audience down by demographics and interests so that the traffic is as targeted as possible.

And it’s always a good idea to follow what Todd Brown recommends, which is look for an audience that is a “Large, hungry, accessible mob of addicts flush with cash.”

  1. Cater To The Needs Of Your Audience

Once you’ve selected a targeted audience, then publish content that really appeals to them. This includes:

  • Solving their problems.
  • Sending them your best tips, tricks and strategies.
  • Sharing niche news and how it affects your audience.
  • Selling products to solve their problems (preferably with exclusive discounts).

Next…

  1. Create Attention-Getting Headlines

The next way to engage your audience is by crafting headlines that really resonate with the audience. This means showcasing a benefit and/or arousing curiosity. For example:

  • Who Else Wants to Know The #1 Secret For Doubling Conversion Rates?
  • Here’s The Super Simple Way To Never Three-Putt Again
  • You Won’t Believe This Easy Weight-Loss Trick!

Next…

  1. Call Your Audience to Action

Every piece of content you create should be designed with a goal in mind. You can help improve your response rate (and engagement) by specifically telling your audience what you want them to do next.

For example:

  • Click here to watch the video!
  • Share this post now with your friends!
  • Click here to get your copy of this app!
  • Register for the free webinar by clicking here (and hurry, seating is limited)!

Next…

  1. Connect With Your Audience

Sending out great content is one way to connect with your audience. Another way to connect with them on a more personal level is to interact with them.

For example:

  • Like their posts and comments on social media.
  • Reply thoughtfully to their comments, posts and emails.
  • Share their content with your network.
  • Showcase particularly good content on your social media pages or other platforms.

Next…

  1. Challenge Your Audience

Another good way to engage your audience is by challenging them regularly in a niche-relevant way. For example:

  • Challenge a writer’s group to write an extra 1000 words today.
  • Challenge a weight-loss group to find a way to slice an extra 100 calories off their meals.
  • Challenge a business group to work an extra 30 minutes today.

If you do these challenges regularly, people will look forward to them because they’ll like the end results. In turn, this creates a more engaged audience.

  1. Celebrate Your Audience

The idea here is to showcase your members’ achievements. You can do this on a small scale by sharing their content (with permission). You can engage your audience even more by showcasing bigger achievements.

For example: Create a “Member of the Week” feature where you interview a member to showcase their good work. For example, in a weight loss group you might interview a member who has made consistently good progress.

To Sum Up

One of the keys to building a loyal tribe is to create an engaged audience of people who know, like and trust you. Use this 7-step checklist to make sure you’ve covered the best ways to engage your people in the process of launching your new product or service.

And to learn more about engaging with your audience before, during and after you use Product Launch Formula to launch or re-launch your product or service, check out Jeff Walker’s free Product Launch Masterclass here.

Talk soon,

Rocky

PLUS: When you’re ready, here are 3 ways I can help you to grow your business using product launches:

1. How To Build A Profitable Launch List.
Building an email list is critical if you plan on doing a launch for your product, service or business. My 1-2-3 List Building Cheat Sheet will show you how to build a responsive list of prospects who are ready to buy from you during your launch. Click Here.

2. How To Create A Signature Product Out Of Thin Air In 72 Hours Or Less
Creating your product does not need to take weeks or months. My 72 Hour Product Creation Guide shows you how to build high value products or bonuses one after the other in 72 hours or less. Click Here.

3. How To Outsource Your Product Creation And Make It Hands Free.
Outsourcing the creation of some or all of your products and bonuses is a great way to save your time for the more important (and more fun) things you’d rather be doing. Grab my Hands Free Outsourcing Cheat Sheet to learn more. Click Here.

And don’t forget to check this out 🙂

Jeff Walker’s free Product Launch Formula training.