Product development and product launches can be massive time sucks that lead to equally massive stress and anxiety. And yet, being able to offer products that do not require direct interaction with clients are also a fantastic way to generate revenue without adding to your time crunch. In fact, such products can reduce the time you need to spend with clients to generate revenue, freeing you to spend more time with family or with yourself!
With that in mind, and in an effort to save you more time and stress, I present you with an outline of a simple Product Introduction Plan; saving you time and creating passive revenue.
Your Marketing Calendar
Print up the necessary calendars to cover all aspects of your launch. To help you, answer these questions:
- When will what you offer first be available? Examples include: Preview call, sale, new service, etc.
- How long with your offer last? Will it be a one-time event, or a short (1 week) sale, or will it be a multi-week event? This is important to know for printing up the necessary calendars.
- What date should your web page/landing page go live, if appropriate?
- List your deadline dates (this can be duplicates of dates above).
Calculate your pricing strategy
Determine what the market will bear for your new product, then offer some “Special Deal” pricing to promote it: Introductory Price, Subscriber Price (for those on your list), Loyalty Price (for those who’ve supported you for any length of time), etc.
Eventually, you’ll want to sell it at Full Price, so place realistic limits on the length of time your Specials are available.
Your Production Plan
Once you have these things in place, it’s time to create your product. Trying to do so without a clearly outlined plan will only lead to stress, anxiety, and overwhelm, and will suck hours out of your days in ways you never imagined possible!
This is a simple Production Plan Outline. The details are yours to determine.
Details of your offering
Is this an online course, with you hosting the training? Are you offering a video only course, with little or no interaction between you and the student? Are guest speakers involved? Is it more like a Summit or Webinar? Do you have a collection of high-value blog posts you’ve condensed into an eBook? Perhaps a batch of 10-12 high-value videos to sell?
Once you determine the exact nature of the product, it’s time to figure out:
- Title of full event
- Title of preview, if applies
- Dates available for both
Creating a product tends to be labor intensive. Knowing what needs to be done, and when, is crucial to a successful launch. If you have a support team to help you, they’ll need to know what they’re responsible for completing, with a deadline.
- Outline of class, webinar, summit, eBook, etc.
- Materials to be used during training, such as handouts or other information
- Presentation materials, such as a slide show or PowerPoint presentation
- Promotional materials for your website, email blasts, and social media
- Who is responsible for each of these items, with deadlines
Sales Page/Landing Page
You’re going to need sales copy published to your website, or to a separate dedicated page. Who is responsible for writing this copy and when must it be completed? Is it evergreen copy, meaning the product will be available indefinitely – or is it available for a limited time?
You’ll need Early Bird pricing for those who sign up ahead of time, as well as a payment plan if your product is fairly expensive. All of this must be determined prior to creating your sales copy.
There are two types of Sales Pages and it’s up to you to determine which of them is most appropriate for your product:
- Sales Copy – When someone like Tony Robbins offers a class, his sales copy is fairly simple. Because he is so well known, he basically says, “My new class is coming soon. Click here to reserve your spot and pay before they sell out!” (Someday, right?)
- Education + Sales Copy – Since most of us do not have the reputation or standing that Mr. Robbins enjoys, our sales copy must also educate the reader, then sell them. This requires quite a bit more copy on your Sales Page.
- Introduce the problem
- Explain your solutions in a way that clearly shows you understand their pain points
- List benefits of your product
- Share your experience and expertise
- Explain the value of your offer
- Insert client testimonials
- Offer FAQs, if they would be helpful
- Reinforce the benefits and value
- Ask for the sale
The first type of Sales Page may run as few as 125-250 words, while the second can easily require 2500 words or more. Until you have the reputation to get away with an abbreviated sales pitch, don’t be shy. Throw as much information as possible out there and let the potential client decide when they need to hit the “Buy Now” button.
Marketing Your Product
Promoting your new product will require all of your expertise and quite a bit of energy. Be as creative as possible, using “Coming Soon” introductory posts and emails, “Special Deal” posts and emails, “Reminder” emails, etc.
The good news is, you have plenty of tools and funnels at your disposal:
- Blog posts
- Email blasts
- Social media
- Previous clients
- Guest blogger exchanges (where available)
- Guest email lists (where available)
While it’s virtually impossible to include absolutely everything you may need to consider when launching your own products or services, this simple outline has been successful for many entrepreneurs; folks who were very grateful to have it. If something you need is missing from this outline, simply add it!
The importance of strategic planning as the key to success for any business simply cannot be overstated – especially for entrepreneurs and solopreneurs looking to grow. It’s even more important for those using online marketing, which has become one of the most competitive of all marketing strategies.
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