A lot of people who sell physical products or services ask me how on earth they could possibly do a Product Launch Formula style launch if:
- Their business has been around for a while and there’s nothing new to ‘launch’
- Their product or service isn’t new and they have no plans to upgrade it
- They don’t have the budget to include a bunch of bonuses with their offer
If this is your problem, the secret is to create what Jeff calls a Crushing Offer by adding one or more of these –
- A ‘Premium’ version of your product or service that includes additional features the standard version doesn’t
- A package of digital guides, videos, White Papers, reports, cheat sheets, mind maps or checklists that show your customers how to get more out of your product or service
- Discount coupons for additional services you provide that enhance or complement the main product people are purchasing
- Discount coupons and special offers from OTHER merchants in related fields that give your customers a chance to get a discount or extra services, AND let the other merchants acquire a new customer at break even or even a small profit
These types of bonuses make your prospect’s buying decision much easier, which can increase your conversion rate (and your revenues).
Let’s look at a quick example
Say you are a Wedding Gown supplier and you’d like to run a launch to generate a burst of sales during your slow season.
You could approach all of the businesses on the list below and ask them to give you coupons for discounted/free stuff in exchange for you reciprocating and helping them to promote their products and services to your customers as well:
- Artificial Flowers
- Beauty Therapists
- Bomboniere
- Bridal Accessories
- Bridal Expos
- Bridal Gown Boutiques
- Bridal Lingerie
- Bridal Shoes
- Bridesmaids Gowns
- Cake Designers
- Celebrants
- Ceremony Music
- Ceremony Venues
- Clubs for Receptions
- Gown Designers
- Disc Jockeys
- Dried Flowers
- Entertainment Agents
- Florists
- Function Centres
- Grooms Fashion
- Grooms Shoes
- Hairdressers
- Hens and Bucks Parties
- Hire Equipment Suppliers
- Honeymoon Destinations
- Hotels
- Caterers
- Jewellers
- Live Entertainers
- Make Up Artists
- Master of Ceremonies
- Photo Booths
- Photographers
- Reception Centres
- Resorts
- Restaurants
- Stationary Suppliers
- Wedding Transport and Limos
- Travel Agents
- Wedding Videographers
- Wedding Stylists
As you can see, there are plenty of different businesses you could approach to work with.
Oh, and ALL of these people could also be your Launch Joint Venture partners.
That means they could send your pre-launch content to their email subscribers and share it on their social media pages, and you could pay them a referral fee for each wedding gown you sell.
AND EVERY business on this list could do the same thing with all of the other merchants on the list.
You are only limited by your ability to work collaboratively and create win-win deals with your fellow business owners…
You could run a product launch like this 3 or 4 times a year, and help your Joint Venture partner’s businesses by promoting their products and services to your prospects and customers during the other months.
The more I think about this, the more excited I get about the whole product launch thing for brick and mortar businesses…
And one final tip: Remember, it IS possible to create a simple product you can use as a valuable bonus in 60 minutes or less, especially if you use audio, do an interview or start with Private Label Rights material.
Here are some examples:
You sell fishing rods. As a bonus, you can offer a report called “The Secrets of Catching Trophy-Winning Barramundi.”
You sell an Italian cookbook (either a physical or digital version). As a bonus, you toss in “Italian Cooking Made Easy, Volume 2.”
The benefit of offering a digital bonus alongside a physical product or service is that you end up creating a “hybrid” product, and the perceived value of your offer becomes much greater than if you just sell the ‘thing’ on it’s own.
If you’d like to learn more about using a product launch for your traditional or brick and mortar business, so you can grow the sales and profits and increase your business’s value, you can do that here.
Talk soon,
Rocky
P.S. Being able to create irresistible offers is so important to the success of your launch and your business’s future that I’ve put together a Free Cheat Sheet that shows you how to create the perfect offer. To make sure you don’t miss anything as you develop your offer, click here to grab your Free copy of The Perfect Offer Cheatsheet
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!
Also, check this out 🙂