4 Secrets to a Successful Product Launch
Anyone can put something together and tell people to buy it, but it takes an intentional plan to do a launch right.
By Jeff Goins •
Opinions expressed by Entrepreneur contributors are their own.
Launching a new product can be scary. Actually, it's always a scary thing to share with the world some brand-new creation. What if people don't like it? What if nobody buys? There is, however, a simple strategy to make sure none of those fears come true.
As an online business owner and student of successful product launches, I've identified four major keys to launching just about anything -- a book, business, or even a blog.
Related: A Blueprint for a Killer Product Launch (Infographic)
1. Anticipation
Why do people stand in line for hours to get the new iPhone when they could just waltz into an Apple store the next week or order one without any hassle? They just can't wait.
Anticipation creates demand. It's what makes people want what you have and gets them talking about it. And you can create anticipation by doing two things: 1) announcing the launch date and 2) telling people exactly what they need to do when that date arrives.
When you tell people to wait, it creates an energy that can be leveraged into action.
2. Generosity
Speaking of Apple, why did they give all their users a free upgrade to more iCloud space a day before doing a major product launch? Was it just to be nice? Maybe. But generosity has a way of rewarding the giver, especially when you time it right.
This is what product launch expert Jeff Walker calls a "pre-pre-launch." The idea is to do this before you begin building anticipation for a launch. Do something unexpectedly nice before making an ask like "go buy my product" or "tell people about my new book."
Being generous builds rapport with your market, which can then be leveraged into future sales. However, for this strategy to work, the audience must not see this as a marketing tactic -- which means it must be done without any expectation of a return.
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3. Urgency
It's not enough to have something great to sell or share with the world. You have to do more than just be generous and hope people will actually give you money: You have to make your offering urgent.
Most people are procrastinators, so to help make your offering impossible to ignore, you have to tell them why now is the very best time to buy your product or service.
A great example of this is Taylor Swift's latest album launch. For its release, there was a time-sensitive contest that ran during the first week of sales. All the details were inside the CD case. A million records later, Taylor's strategy apparently worked.
4. Scarcity
We humans have a tendency to ignore the things that are right in front of us, even when they offer incredible value. But gold? Diamonds? Buffalo nickels? These rare finds always grab our attention.
Genuine scarcity leads to trust and demand, whereas false scarcity leads to skepticism and doubt. So what does this all mean for you?
Anyone can put something together and tell people to buy it, but it takes an intentional plan to do a launch right. It takes a little bit more work, but the reward is worth it. Your customers, investors, and bank account will thank you.
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