A Simple Template for Profitable Mini Product Launches

We can all appreciate the beauty of a simple formula that generates high return on investment. In this tutorial, I’ll draw out and demonstrate a simple formula to help you run an internal product launch or release that will boost your sales and generate revenue in a relatively short amount of time.

This template is often used in the digital marketing space, but it can also be used in an eCommerce environment. To be clear, I’m not a huge fan of building business based solely on product launches; strong businesses predicated on recurring revenue, whether through membership or services, tend to be the ones I encourage my clients to build. With that being said, an internal product launch can be a very useful technique to have up your sleeve.

If you have a particular offering created and you’re not sure how it will do with your existing subscriber base, this template is a great way to test out that offer. Another circumstance might be if you have a limited quantity of a particular physical good or service, and you want to get rid of the product and drum up a flood of sales in one fell swoop.

The strategy I’m introducing is not particularly aggressive; instead, the emphasis is on performing, providing content, and communicating the value proposition so that a customer feels the need to get in now, before it’s too late.

Prelaunch Period – 5 to 7 days before release

I usually send at least 2 emails before a launch (5 to 7 days beforehand) to notify customers about the special offer that is coming and communicate why it’s so special. If I’ve created a new physical product, I want to give value to the idea behind the product.

One way I can give value is by giving a bit of a story in the emails about the product’s background. For example, in the self-defense space, if I’ve created a course around defense against a particular weapon, I might have story that tells how I met an expert, learned some specific techniques from this person, etc., enough to build the credibility that lends value.

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Launch Day – Day 0

On the day the product of service is released, I tend to make the email a little more straight-to-the-point, straight-to-the-product, straight-to-the-sales-page – to be clear, it’s not another story-based email (read more about the spectrum of types of email marketing). Often times for an internal promotion, this launch email is an articulation of the core value proposition that drives the customer to the sales page.

Days 1 and 2 (Box 0 and 1)

Say you have 5 days to drive you product. On day 1 (box 0 in my hand-drawn graph), my email is a bit more “salesy” i.e. more directly-oriented towards straight sales, more “hey come and get it”. Any time you release a new product, a certain subset of your customer following will buy what you put out. Let them know in your emails how long the offer is lasting.

On the 2nd day (box 1), generally speaking for my own eCommerce businesses, I may or may not send an email this day, as the middle days usually have a bit more of a lull. When sending a special offer, it’s often on day 0 and day 4 that you’ll see a spike in sales.

Days 3 and 4 (box 2 and 3)

On days 3 and 4 of an offer, I’m sending an email that includes my offer but that is also tying in something educational and of value. When preframing, speak about why the product or service is beneficial and what the customer is going to learn. Later on, you can give a snippet or instructional of what they’ll gain.

Let’s say you’re selling baby cribs (random example); this snippet might be a demonstration of someone using the product i.e. demonstrating the foldability, or it could be about how it’s made (“handcrafted”), OR you could tap into the quality of a bad or good crib in general.

Another example – say you’re selling a Facebook advertising course, you might go over details of Facebook targeting, new marketing features available, and share 1 or 2 marketing tips to get started.

Whatever it is that you’re selling, make you sure you give the customers a little extra with that content-rich video. You still want to include your original email with all the details of the special product, but you can position the educational video at the top of your original newsletter. Those customers still interested can watch, and the scroll down and buy the product or service.

The challenge to you (and I ask you to think about this point) is, how do you provide tangible, useful value, without making an overt, promotional pitch video? I’m certainly not saying that you can’t go with the promotional pitch, but I like to build long-term relationships and when I can help it, provide value rather than a whiz-bang strategy.

Day 5 (box 4)

On the final day, it makes sense to push a bit harder, to drive more directly towards the sale. On this day especially, let people know that tomorrow is the last day. I’m a fan of sending out 2 messages on the last day – one in the morning and one in the evening, with the latter drumming home the same core message.

Remind your customers of what they’re getting (the product details), the value of what they’ve brought to you as a customer, and the value of what it is that you’re offering to them. This series of  doesn’t have to be dooms-day or obnoxious, but it should be direct and to the point.

Keep in mind that it’s common to see as much as 50% of your sales on the last day; this is why I go for the double email, even on a lighter product launch.

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Post Launch (+1)

The email that you send after the launch, maybe one or two days post launch, will differ for buyers and non buyers. The first email might give support materials and say something along the lines of ,”Thanks so much, glad you got in on this offer, you’re one of the X people who did…”, etc. Your email for those who didn’t bite might sound more like, “Hope you enjoyed the videos, the product isn’t available any longer (at least for the discounted rate), but I hope you gleaned some value from this series of emails”.

Wrap Up

This is a very soft internal promotional strategy, but it’s one that I think you could do once a month without rotting away the general value proposition with your customer list. Again, the mini product launch is one tool, and I stress that your business shouldn’t be dependent on these types of offers – however, the template is a useful one to have if you want to test offers and to do internal launches for giving away a limited quantity or to generate a quick boost in customer sales.

Hope this tutorial was helpful. Leave a comment on our blog or the CLVboost Youtube page with your own experiences and ideas regarding the mini launch; we love to hear from our readers about what you’re doing with your own businesses!

-Daniel Faggella
CLVboost Founder

 

 

About The Author

Daniel Faggella

I grow businesses with marketing automation, email marketing, and conversion-rate optimization. I’ve spoken on business and emerging technologies internationally and at some of America’s finest schools (Yale, Stanford, Cornell, etc…). My marketing strategies have been featured in the Boston Business Journal, MarketingProfs, Direct Marketing News, and much more. CLVboost is where I share marketing strategies, TechEmergence.com is my major pursuit.