TCM #022: Become a Product Launch Maestro in 3 Steps
Read time: 4 minutes
Morning one & all 👋 – Tom here.
Happy Saturday to 1,062 motivated ecommerce entrepreneurs.
Below is your weekly one short tip on marketing and revenue growth for your ecommerce business.
Enjoy & please hit reply if I can help in any way.
Hey there, launch enthusiasts! This week, we're slicing through the chatter and getting straight to the meat of the matter: launching new products for your online brand.
I'm going to guide you through a no-fluff, step-by-step playbook. By the time we're done, you'll be a launch maestro, primed to whip up excitement, drive sales, and keep your customers hooked and coming back for more.
In the year of 2023, your focus should be laser-locked on retention. You'll be turbocharging your customer lifetime value (CLTV) and building a tribe of die-hard fans. Ready to dive in? Let's do this!
I've seen many folks getting stuck in the mud with the same old products, crossing their fingers that they'll keep selling like hotcakes. But let's be real, in the breakneck world of ecom, you've got to keep things fresh and you've got to keep innovating. Even if it's just by a smidge.
Stumbling blocks you might be encountering when it comes to launching new products:
- You're scratching your head over what products your customers want.
- You're biting your nails about the risks of launching a new product.
- You're puzzled about how to whip up excitement around a product launch.
- You're wrestling with getting your new products in front of the right audience.
Don't break a sweat – we're going to tackle these hurdles right here, right now.
Step 1: Ask Your Customers What They Really, Really Want
The first leap towards a successful product launch is to discover what your customers are craving.
Sounds like a no-brainer, I know. But too many business owners think they've got it all figured out.
(And you know what they say about people who assume. You make an ass out of u and...)
Don't shy away from asking folks directly. Use nifty tools like Typeform or Octane to whip up surveys and rake in a mountain of invaluable insights. (Feel free to pilfer my survey from a previous newsletter.)
Ask open-ended questions that make them feel valued and heard:
- Their preferences
- Their needs
- Their pains
And dangle a carrot to get them across the line – which could be a discount on the new product line to further build on that retention piece.
(Scouring for more product ideas? Scroll down to see the AI tip of the week. It might just be the golden nugget you need.)
Step 2: Create Hype Around Your Product Launch
Next up, you've got to stir up a buzz around your new product.
This means marketing the launch with gusto on all channels, spinning tales while creating a sense of anticipation, and making your customers feel like they're part of something thrilling.
Leverage:
- Private communities
- Your email list
- Socials
- SMS
- Influencers (we chatted about recruiting creators before here)
Document and share in real time (no need for polished posts):
- Sneak peeks
- Prototypes
- Samples
- Renders
- Testimonials
- Production lines
Make your existing customers (and prospects on the edge) part of the process. They should feel like they're part of crafting something exciting and exclusive that they're witnessing come to life.
Heck, hop on weekly lives and share any developments you can – even if just a handful of people show up.
Your mission is to make them feel connected to your brand and to your product line.
Get them signed up to an 'early bird' list and build that launch momentum.
Step 3: Make Your Launch A Spectacle
Finally, when it comes to the actual launch day, you've gotta make it a spectacle.
This is the moment you've been building up to so pull out all the stops.
Host a live event across your social channels, explain why you're launching this new product, offer limited-time discounts (or bonuses) for those who purchase today, and team up with your influencers so they have gift boxes to open and share on the day that you can promote and put further budget behind.
The goal is to create a sense of urgency and excitement that compels your customers to buy your new product right away and create a ton of momentum around the launch.
But it's also about making them feel part of your brand's journey and building a community that will support your current and future launches.
Remember – we tend to buy with emotion and rationalise with logic later.
In Summary
Launching a new product might seem like a mountain to climb – I get it, I promise – but with these steps, you'll be well on your way to a successful launch.
Remember, your customers are chomping at the bit for new and exciting products that solve their needs, and it's up to you to deliver.
So, what are you waiting for? It's time to start planning your next product launch!
This Week’s Action Step
If you're a newbie to product launches, start by sending out a survey to your customers to find out what they want. Use my past Octane Survey example and go to town.
Already launched a product before? Awesome! Now, think about how you can create more hype around your next launch.
That's all for now, folks.
Catch you next week, on Twitter or inside the community!
Cheers,
Tom (Grass-Touching) Brown 🌱"
AI Tip of the Week:
Still racking your brain over which products to add to your lineup next? Why not ask GPT-4 for a few pointers to get the wheels turning?
It's like having your own personal product development team, but without the eye-watering salary costs. Give it a whirl and see what product ideas it cooks up for your store. You might be in for a surprise.
Use the following prompt (with a browser plugin such as WebPilot):
"I run the brand [YOUR BRAND]. Can you please suggest some new products that I could add to my lineup by exploring my current lineup and store here: [YOUR STORE URL]"
See a live example: https://chat.openai.com/share/033e0fa6-0c63-41e0-9653-b26ae175bb7d
P.S. Have a topic you'd like me to cover in the next newsletter? Let me know. I'm all ears. 📬
P.P.S. Ready for more? Here's how I can help you level up your ecommerce game:
- The Ecommerce OS: This is my go-to system for skyrocketing from $0 to $1M in revenue (while staying profitable). (The price will increase each week by $10.)
- Team up 1:1: Together, we'll outline your goals, craft a knockout strategy, and create a tactical action plan to supercharge your Shopify store. (Join 200+ clients who have already upped their ecommerce game.)
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Catch you next week or over on Twitter.
