I’ve been asked about the best way to monetise an email list between product launches a few times and I thought I’d share a quick strategy that works very well for just about any business.
Since the beginning of the Pandemic, there is a growing trend of smart ecommerce companies adding sales of digital products to their physical product businesses. The fact is this is a massive, blue ocean opportunity and it’s great to see so many businesses heading in that direction.
Done right, there’s virtually no downside for the business with massive upside allowing them to significantly increase sales and profits with very low overheads, especially when they are selling products as a affiliate.
Most ecommerce businesses don’t realise the value of the asset they have created with their customer databases, and they don’t know how to capitalise on it.
Product Launches Have Their Limits
As you’ve seen from other posts on this site, Product Launches are a very good way to generate big paydays for some businesses that have a solid customer database, although they are a LOT of work.
The other factor is you can’t continually ‘launch’ to the same people because you will burn out your email list and damage the relationship you have with your audience.
So what can you do BETWEEN launches to nurture that relationship while continuing to make profitable sales?
These days I prefer to create simple campaigns consisting of a short message inviting people to raise their hands to let my clients know they are interested in something.
For those who reply I follow up with a couple of messages with questions to qualify them, and if they qualify based on their answers, we make them an offer for the client’s (or even somebody else’s) high-ticket program or SAAS.
Then I finalise sales using email or text chat and get paid based on the results I achieve.
It’s less risky and less stressful than running a product launch, and because we are promoting a high ticket product or service, the profits are usually great.
And the best part is, the people don’t see the first short message as a ‘pitch’ because only those who are interested reply, and it doesn’t upset the rest of your people. That means your regular mailing schedule isn’t impacted in any way.
If you would like to discuss how you might be able to use this strategy in your business to generate high ticket sales even if you don’t have a high ticket program of your own, feel free to get in touch by emailing me at rttgemails [at] gmail.com and I’ll get back to you with all the details.
Most people who have never used the Product Launch Formula process to launch or relaunch a product or service tend to underestimate just how much leverage you can generate from the focused attention you gain from your audience.
NOTE: If you are looking for a Product Launch Formula Bonus that includes personal 1:1 coaching to actually help you to succeed with PLF,you can learn more here.
The reason is because your launch is positioned as an Event instead of just a sale or special offer people can grab any old time. The returns can be truly asymmetrical, meaning you have a small amount of potential risk, but the potential to generate a huge return.
To give you an example from my own business of helping people to learn to analyse markets (stocks, commodities, cryptocurrencies, etc.), over the last 20 years I have developed and tested a simple and repeatable entry signal that helps people to find the very start of long-term, fast-moving trends in all sorts of markets.
When this signal is used according to the instructions, it gives us a defined risk if we are wrong, and an exponentially larger potential upside. You can see what I mean in the screen shot of a chart below (you can click on the chart to open it full size in a new window):
You can see an entry was confirmed at $9.23 and an exit was signalled at $20.05 12 months later. Now you might think, “big deal” the price doubled over a year, I don’t see anything special about that.
However when you look at the potential risk of on this position at $1.50 per share, and the eventual return of $16.78 per share, you can see how asymmetrical this position was – the return was 10 TIMES the risk.
Your investment in PLF is $1,997 one time or you can start off with the payment plan with just $397 up front. Then you invest some time in consuming the training, creating your launch and pushing the ‘Go’ button. Most people (but not everyone) pay for their PLF purchase with their first launch.
But then you can start to improve things that weren’t perfect and launch again. Then because you have all of your launch content created and tested, you might consider asking some partners to help you promote your product to their audience in exchange for a referral fee.
When you do that you not only grow your email list exponentially (so you can make sales to their customers in the future) but you generate a bunch more sales that you only pay for based on performance.
Jeff Walker calls this the ‘Circle of Awesome’ because you can keep using the Product Launch Formula training you purchase today to grow your business (or another business) for years into the future.
That’s why the relatively small investment of time and money you make here at the beginning can generate hugely asymmetrical returns for you in the future.
At least that’s been the experience of thousands of PLF owners. Today you get the chance to join them and start the journey towards even more success in the future, regardless of how successful you have been already.
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.
Disclaimer: If you purchase PLF through my affiliate link I may receive a referral fee from Jeff Walker, however you will pay no more to purchase the program through me than if you went directly to the Product Launch Formula website. If you would like my personal help as you create your first launch using the PLF process, check out my PLF Bonus offer here.
Quite a few people have told me (some quite vocally – lol) that there’s just no way they could possibly apply what Jeff Walker has been teaching in his Product Launch Formula training to their non-internet based, offline brick-and-mortar businesses.
Actually, it’s easier than you might think…
You can apply most of what Jeff teaches in the pre-launch videos to any business, regardless of what you sell.
A few ideas off the top of my head are:
focusing on LIST BUILDING as the main goal for your business
using strategic alliances and joint ventures to drive traffic to your optin page
segmenting people on the front end so you can send them customised content
using a mix of generic and customised content throughout your funnel based on this segmenting
using high quality video to get your message out
turning each promotion you run into an event
using pre-launch content to create buzz
using educational marketing to position yourself as the expert
using social proof (Facebook comments, testimonials and case studies)
using deadlines and scarcity to increase conversions
using a dedicated sales page or sales videos with compelling reason-why copy to showcase each product (where appropriate)
using exclusivity to limit access to a small number of people
promoting perceived and real value instead of trying to compete on price
creating an irresistible offer that is risk free to your customers
…and probably a bunch of others I haven’t thought of.
Now if this quick summary was helpful and it’s got you thinking, I think you’ll really enjoy these videos that show some case studies from businesses that have used the launch process with awesome results.
Just a few of the examples are:
how Jason and his wife Cinnamon multiplied their results by 10x in a very small business selling doll clothes
how Kami launched her book and follow-up courses, with 3 of her 4 launches since then doing more than $10,000 in sales
how Kara Andretta did a $91,000 launch in the couture cakes market (I didn’t even know that was a thing lol)
how Ross Grant who teaches actors about high performance made $15,000 from a list of 180 people
And you can learn all about how to run a launch for YOUR business in Jeff’s Product Launch Formula Masterclass which is available for free here.
PLUS: When you’re ready, here are 4 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 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
4. Work One-On-One With Me
If you’d like to work directly with me to run a launch for your business… just send me a message by emailing me at rocky [at] localwebsolutions.com and put “One-on-One” in the subject line… tell me a little about your business and what you’d like to work on together, and I’ll get you all the details!