Product Launch Tips

This formula presumes you’ve built a list. That’s a whole other system or article. Without a list, there will be no sales or activity. Very important that you read my other articles on how to build one.

Get personal with your subscribers. Turn a launch into a nice long conversation with the subscribers on your list. Invite them into your world. In doing so, they actually take on ownership of the product. They feel like they’ve created it with you. How?

Survey your list.

Suggestion: Growing tomatoes. Get your “list” to help you design your product. Gather data via responses. Use Survey Monkey or simply send an email with two or three questions…such as…”I get a lot of questions all the time about how to grow big, juicy tomatoes.”

“I’ve been thinking about creating a product (putting together a guide on how to do this) about growing spectacular tomatoes. What should I put in it? I want to make sure I cover all the bases. Here’s what I mean…If you and I were in the garden, what would your top two questions be?”

Hit your reply button and let me know.

Best Regards,

Your name

P.S. Yes, I’m serious. I really want to hear from you. Hit reply now and tell me what you would ask me.

Next step…

Take the responses from the questions you asked and sketch out a product design.

In your next email to them.

“What format would you like to get this in?”

EBook?

Hardcopy?

CD?

Video?

Hit reply and let me know how it would be most valuable to you.

P.S. I’m wondering how much to charge the rest of the world for this. Naturally, I’m going to give my subscribers a significant discount on the product, but what do you think the rest of the world should pay for a product like this?

Next step.

After gathering all the “data” see if there’s enough interest to create a product based on the replies.

If it’s in video form, make one, post it on your blog and send the link to your list and ask them to watch it (let them know you’re not a professional videographer,) but this is one of my best tips or secrets. Why don’t you watch it and let me know what you think.

THIS BUILDS SOCIAL PROOF VIA WEB 2.0

People log onto your blog, see your videos and make comments. (Be prepared for some that criticize (constructively hopefully) your lighting, the sound, etc.) Remember, it’s the INFORMATION people are searching for. Your job is to give them the highest quality INFORMATION in the easiest to digest and apply method.

This is very broad stroke but illustrates one method of creating a product that is in demand. Not one you think will sell.

How to Start Your Own Niche Product

If you are one of those who want to launch a niche product but has doubts how, consider the following:

1.Determining what you really want to sell, something that you can be comfortable selling, is the first step at the creation of a niche product.

2.If you are still unsure what niche product to create, make a list of what you have in mind. The more the better. You are the sole authority in this. You are the only one who really knows what you want.

It will also help that in determining your long list, try factoring the following:

a.Your hobbies and interests,

b.Improving on an existing product

c.Solving a problem

d.Combination of improvement of ideas

e.Conducting a different approach in the marketing of an existing product.

3.Evaluate the list that you have created on the basis of the products purpose and the target market of your niche product.

4.Focus on your purpose. Knowing your niche product uses and benefits become a basis for planning. Determining the purpose of the product is vital in niche product creation. Make it clear and specific. Adopting an honest straightforward look can make the next action step fall easily into place.

5.Identify your target market. Expensive pitfalls had been created by generic approaches, the variety of goods available already in the market will daunt anyone trying to make an entrance in to the market.

Make precision your keyword. Target the market bracket that you think will help you maximize your sales. Segments for consideration will be; Gender, age, education, status, etc. This way, you create brand that is focused on certain segments of the market and caters to particular needs that the market readily identifies itself with.

6.Conduct targeted niche product short list. Remember having to write a long list on products that you would want to create? This time, based on the purpose and the segment of the market that you consider targeting, eliminate all products that you previously have in mind, everything that does not fall into servicing the particular market segment that you have decided on.

7.Consider trimming the list further. The niche product that should result must be very focused on the target market that you want to attract. The result then becomes a shortened short list.

8.From the short list created consider the product that could represent your competitive advantage. Your edge. Something that carries leverage. Without a sustainable advantage, your product might just not find enough strength to remain in the market.

9.Check for copyright. If the product you have in mind is an improvement of an existing product, it would not be wise to infringe on another copyright aside from being expensive in the long run and damaging to you reputation. All products that have expired are posted on the public domain. Search engines can lead you to this.

10.Now that you have an idea of a product, you can already focus on attracting traffic to your product. Create a domain name and its message. These too are very vital. The domain and its content are the first tangible things that can speak for you. These are the things that well sell your products aside from you.

The name therefore must be easy to remember and memorize.
The content should be attractive enough to attract traffic to your site

Winning With An Imperfect Product And Failing With A Perfect Product

I recently read an article about the biggest technological products flop of the decade. Amazingly, products from Apple INC, Microsoft and some great companies were on the list. These products failed despite the huge investment the companies made into them and great launching concepts.

Most of us are aware of products like iPod, iTunes, iPhone and iPad but are you aware that there are products like Newton Message Pad, Portable Macintosh, and Apple Pippin? The first set of products represent ultra successful products that every company would want to own while the second set of products had woeful failures that no company would want to be associated with.

The common denominator among the two sets of products is that Apple incorporated made them all under Steve Job.

I also was privileged to read an article on Bloomberg.com about the iPad. The article was saying something like why the iPad will fail because for one, its name was derogatory to women who used sanitary pads. They even advised Apple to make a name change before launching the product which they referred to as a thin piece of glass on aluminum.

So, why does every great company with great products also have a long list of products that failed and what lesson can we learn from this?

This is key for anyone that wants to succeed in business whether online or offline. If you do not learn this lesson your business will either never take off or the business will be a one year wonder then fizzle out.

The secret behind this action can be found in an advice King Solomon gave during a banquet in his palace. The king was once surrounded by princes from other nations who noticed that Gold and silver, which were very precious in their countries, were treated like ordinary sand in Jerusalem. They asked King Solomon to explain the secret to acquiring so much gold and silver to them.

Solomon told them what every great company has learnt and which everyone that wants to achieve greatness must also learn. The king said “Sow your seeds in the morning and in the evening do not withhold your seeds from the field because you do not know which one will grow or if both of them will produce fruits.

Some of the princes got what he said while others did not. Some of my reader would have gotten the secret but for those who have not; this is what he was saying. If you start a company, never rely on one product even if it looks like it will be your path to prosperity. You must keep on making new products and delivering new services.

Some of your products will do very well while some that seem to have great potentials will fail woefully. The only way to find out the products that will sell and those that will not, is to put them out into the market place.

Never sit down on your desk and conclude that a product will not sell. If you are not sure about a product, do a trial marketing of it for some time and let the market help you decide.

Also do not be ashamed if a product you had so much faith in fails in the market place. As a writer, I have written articles I felt people will love but less than twenty people read it. I have also written articles which I felt reluctant to publish because I felt they did not meet what readers will like, only to have hundreds of people reading it.

My principle now is just to keep writing and posting. I now allow the readers to decide which of my articles are great. This though, does not wipe away my disappointment when people do not like what I think they should like.

So, let us learn from Apple under Steve Jobs. Let us keep making products and services despite the success or failure of our last project. Only our customer will reward us. They might pick none of our products, one product or all our products. You never know which it will be if you stop at one product.