How to Create a Profit Windfall When Launching a New Product
Unless you've been in a cave, you know that Harry Potter mania is a worldwide phenomenon. Kids and grownups alike eagerly await the release of each book and movie, and I'm one of them. I even devoured the last book, "Harry Potter and the Half-Blood Prince," in less than a day. But even more interesting than the stories, from a business point of view, anyway, is the fact that 6.9 million copies of that book were sold in just 24 hours. Wow!
Actually, I had my own "big" release just a few days before the boy wizard - it was for the tapes of my "Underground Online Seminar," which are now sold out. However, I have to admit I didn't fare anywhere near the multi-million dollar payday J.K. Rowling had, but it still wasn't too shabby. I raked in over six figures (actually $193,380 to be exact) in the first 24 hours of my release.
So what do these two releases have in common? One word...anticipation.
Whether it's for the next blockbuster summer movie (think"Star Wars") or for Harry Potter or even your product - if you really want a big, monster payday you've got to create an event. I'm going to let you step behind the curtain a little bit so you can use some of these same strategies I used.
First of all, I need to give credit where credit is due. My friend, Jeff Walker, helped me formulate the plan for this release. So let's dive right in…
Secret #1: Create Anticipation We've already talked about this, but let's give a few more specifics. I started an "early-bird" list from my subscribers and customers. I got people to raise their hands and say "Yes, I want to know first when you'll be releasing these DVDs." Then once people were on this list we started "dripping" on them. We used a blog to post everything from "spy photos" of the product (which came in a very cool, individually numbered suitcase) to actual video clips from the event. Each communication whet the person's appetitie for the upcoming release. Please keep in mind, these updates were planned out before the start of the promotion so it wasn't just thrown together by the seat of our pants.
Secret #2: Secure Partners' Participation Over the years I've built up a network of friends and business associates. I don't "hit up" my Internet friends and associates too often to promote products, so most of them were eager to help with this promotion. This is the same thing you can be doing in your own marketplace. Instead of thinking of competitors - you should consider them potential promotion partners. Also start "digging your well before you are thirsty." That means building relationships and networking with people in your industry and marketplace who have influence and carry weight.
Secret #3: Promotion Tools Everybody has too much to do and too little time to do it,so the more you can "spoon-feed" your partners the better. Yes, some people will take the extra effort to do their own promotions, but most people would rather have a pre-made "cut and paste" email or letter to send. That's why I provided my partners with "content" in the form of video clips from the seminar that they could release to their list. This put more people on the early-bird list who were "glued" to that particular partner. Cater to everyone's laziness and make it "fill-in-the-blank" or turn-key simple.
Secret #4: Get People Buying I wanted to make sure people were really excited about the release, so we reminded them the day before and also one hour before the release time. Plus, I even added a special time-limited bonus that expired after 4 p.m. on the first day of the launch. That gave people one more incentive to order right away. You can't stop with one notice about a launch - you've got to remind them multiple times when everything is happening.
Follow these 4 secrets and you'll see some big numbers in no time flat!
Related Tags: marketing, promotion, product launch, re-launch
Yanik Silver is recognized as the leading expert on creating automatic, moneymaking websites...and he still doesn't know how to put up a website. He is the author, co-author or creator of several best- selling online marketing books and tools. His newest resource for making this year your best yet are found here- http://www.SurefireMarketing.com Your Article Search Directory : Find in Articles
Recent articles in this category:
- Many Different Content Management Systems Are Available ( Cms)
At this time the rule is that going to the content management system open source and a commercial. H - Establish Your Credibility Online
Shoppers are now careful these days. They are more conscious that there are fraud sellers lurking on - Make Money Online Fast - Is It Possible?!
When you see the phrase "make money online fast" you may wonder to yourself, is this for real?! And - What Is Auto Traffic Avalanche?
Many people is talking about this great tool, and that became an excellent software, that can genera - Beginners Guide To Blogging
A blog is basically an online journal wherein you can digitally pen down your thoughts, ideas, opini - Say No To Just Having Enough To Get By...look For Wealth After A Fixed Paycheck
For the last year, I am proud to say that my regular weekly salary was earned through direct deposit - How Outsourcing Works - Hiring An Outsourced Virtual Assistant
Outsourcing is a proven means of helping businesses cut resource costs while getting the same level - How, Where Should You Start And Get Paid In Affiliate Marketing?
Before internet, freelance jobs like insurance, network marketing and real estate used to be the onl - Saratoga Builders Help You Make Informed Decisions
Numerous American central heating designs implement a furnace which blows forced hot air by means of - Basic Features Of A Good Web Hosting Plan
There are a few features that you should look for when you are picking a good web hosting plan, ther
Most viewed articles in this category:
- Tools for Adsense
If you're just boarding on the AdSense train, and looking to find a quick way to make the profits yo - Information Products - Your Action Plan
If you've been thinking of writing your own information product, here are a few tips to help you get - Are You Missing Out On This Method Of Generating Instant Cash?
If you have not yet heard of Bum Marketing, you're missing out. It's a great online marketing metho - How to Find a Home Based Business Internet Opportunity Thats Right for you
Copyright © Jagraj Gill http://www.payitforward4profits.com/jaggiegill Finding the right hom - Can It Be True? Can You Really Use The Internet to Create Money?
Is it hype? Or is it real? Is dramatized and exaggerated? Or can I really use the internet to cre - How to Create a Virtual Grand Opening
Copyright © 2007 Donna Gunter Grand openings and ribbon cuttings don't have to be limited to bu - What Is The Hottest Product To Sell Online
After going through a survey from all the internet Guru Alex Mandossian, Armand Morin, Derek Gehl an - Web Based Employee Time Clock
The power of the internet is in its connectivity. Many people think that the internet is great becau - Driving Hordes of Traffic to your Site
Getting enough traffic to your site is the overwhelming problem for anyone new to Internet or Affili - So You Want to Start an Online Business Part Two - Analyzing Keywords
Analyzing Keywords Continuing on from Part One of 'So You Want to Start an Online Business'; we wil