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How Do We Launch A Product Online
How do we launch a new product online for our business in affiliate marketing? Today we will be looking at the benefits of an affiliate program and how they can help a new marketer jump start their online business.
An affiliate program is a service that rewards an affiliate for every visitor, subscriber or customer provided through his efforts. Affiliate programs range in scope from a small one person program to the behemoth that is the big five program. The benefits of the big five affiliate programs are so numerous that we have listed a few here to help you get started.
* Very cost effective. All the advertising takes place through the internet, so the costs are almost completely paid for by the Affiliate Program. This means that for the small amount of money you will invest, you will gain a great return.
* Large number of products to promote. Just choose a product and let your efforts be rewarded for every sale or visitors or customers provided.
You might not have heard of the big five affiliate programs but they have been around for years and are very popular with both affiliates and marketers. They are also very efficient and effective when it comes to paying affiliates. All you need to do is to promote their products, give a link for your site or blog and you will get paid for the traffic and sales and clicks that were provided by your efforts.
You can also join one of the other affiliate programs but you should be prepared for some learning curve because affiliate programs are so diverse. If you are new to affiliate marketing then you can sign up for the ClickBank or Commission Junction and use their platforms for promoting products.
If you have your own site then you can promote products of your own or select a product from ClickBank or Picasa and upload it to your site or blog. They also have a few different payment systems that they use.
ClickBank and Picasa make most of their income from merchandise that is digital in nature. So they use the “pay-per-click” model, whereby every time a visitor clicks on a link on your site or blog and goes to the parent site you get paid for that click. Whereas Picasa make their income from sale or sign-ups.
For people looking for an affiliate program that can be low cost then Commission Junction and the other big ones are the place to look. They are very cost effective and there just too many products to promote.
You batter believe it. Kaeli wrote it. Yeah. Want your offer to sell like hotcakes? If you’ve ever wanted to launch a product for your business, I’m talking an ebook, an online course, or digital products, then you’re in the right place because today I’m taking you behind the scenes of my most recent product launch.
That’s right. I’m sharing all the details. You batter believe it. And stay tuned until the end where I’ll share a fairly simple step that a lot of people miss, but it could make you a lot more money when you launch your product.
The framework that I’m about to teach you is exactly what I followed for my most recent launch of Story Vault, and suffice to say, this was my most successful launch ever.
This is also the framework that I teach in depth to my students inside my coaching program. I’m Elise Darma and I’ve taught thousands of entrepreneurs like yourself, how to use Instagram so that it’s actually a revenue stream in your business.
And today I’m teaching you how to successfully launch a product. So let’s dive in. Here is my five-part framework on how to launch a brand new product.
The first phase is the idea phase. It all starts with the idea, so how do you generate an idea for a brand new product? You have to keep a close eye on your industry. What trends are you noticing? What other products are doing well in your industry?
Take a look at the products that are selling. Notice what people are actually paying for and then think, where can you improve on that? Where are their flaws on the products that people are buying today? One hint here is if you see a product launch in your industry and it’s kind of triggering like on an emotional level, it makes you angry or jealous, that’s a really good sign for you personally that this is a product you should keep your eye on and do a little digging into.
The thing is when you create a new product, you have to make sure you’re solving a problem for your target audience and while you see that they’re already buying products in your industry, this is a really good thing.
That means that this product idea has been validated in your market, so take it a step further. How can you fix the flaws or the gaps where the holes in the product that your audience is currently buying? When you’re in this brainstorming mode, the key to this is asking yourself this.
What would make this product offer an absolute no brainer for someone to buy? Is it going to be the level of quality?
Is it going to be the sheer amount of things you’re going to put in the product? Is it going to be the strategy, the story behind it? Is it going to be the price point? There’s a lot of ways you can differentiate yourself, so think for your target market, what would make your brand new product an absolute no brainer? The second phase of the framework is mapping your offer.
Now, this is just for you, but it’s time for you to put pen to paper.
Or if you use a project management tool like Asana, it’s time for you to type out every single detail. This is the phase where you need to explicitly say, like, write out, what is your product exactly, who is it for, why is it high value, what’s going to be inside it and what makes this one different from the other products that are already out there in your market. I’m looking at when I mapped out the offer for Story Vault and here are all the questions I answered, what is it? Why is it high value?
What is the product? Literally, what is it? Why is it different? Who this is for? What’s the format of the product?
What are the product details, so all the features and the bonuses that come into it and then I mapped out what happens after they buy the product and I’m going to get to that at the end.
The next phase of my five-part framework is the survey phase. Hear me out. I know a lot of times we feel like sending out a survey to our audience is a waste of time or we might feel like a survey is just slowing us down. I mean, we have all this momentum from this amazing idea.
Let’s run with it, right? But truthfully I found that the survey phase is the most important part of this entire framework. The survey phase is key for validating your idea before you invest your time or money into actually creating it. So my tips for sending out a survey to your warm audience is to give them an incentive, give them a bonus or a reward for taking the survey. It could just be their name being entered into a draw to win a one on one session with you, but make sure there’s an incentive like an award and also let them know that by taking the survey they are going to get hints as to what secret product you’re working on.
So those in your audience who are very curious are going to be more likely to take the survey so that they can kind of get a sense of what you’re working on. After your survey, you’re then going to want to move to the project plan phase so you can only move onto this phase if your survey has been sent out and majority of your audience has responded favorably to your product idea. If they don’t, then you’re going to want to go back to square one, but if majority of your audience is onboard for this product idea, you’re going to actually move all your notes that you did in step two into a project management tool and I don’t just mean like put the paragraphs of information into it.
You’re actually going to start assigning tasks and you’re going to assign one person to every task with a deadline. This is the phase where you’re going to want to brainstorm every single little task that needs to get done in order to make this product a reality and like I said, you’re going to want to set due dates because that’s how things get done.
The earlier you think about all the moving parts that are going to happen to build this product, the more you can involve your team members or contractors that you work with. Hint hint. This is a part of my story about product launch where I kind of failed and dropped the ball, but luckily my team members were flexible and could deal with last minute requests from me. As my team member says, plan as far as possible in advance. Those dates will crepe up on you.
Crepe, crepe up on you. A word of warning here.
Since this is a brand new product offer, I recommend to spend as little of your budget as possible on this product launch. Don’t hire a $10,000 sales page copywriter because copywriting isn’t in your zone of genius. Do the best you can with what you have and only after your product has been validated with paying customers.
Can you then take some of that revenue and reinvest it into your product to give it a more polished look? The last phase after you’ve built the product out according to your project plan, is the launch plan. So here’s what I recommend to launch the product. Start with a small waitlist first. So maybe you just send it to all the people who responded to your survey.
The reason why you want to start small is because you want to use this phase to test out any bugs or flaws in the tech or your checkout pages.
Basically anything that can interrupt the customer journey. Once you’ve gone through this step, then you can share it to your warmer audience. So your entire email list, all your Instagram followers. Basically everyone you know should hear about this product.
Now, what’s the simple step that I recommend you do at the end that a lot of people skip? Well, it’s adding in an upsell. If you can swing it, I recommend to add in a one-time offer onto your checkout page. Maybe it’s a really good deal on something that you don’t publicly offer because what this does is help to increase your average cart value. Now, if this is too much and you just want to get your product out there, that’s okay.
You can always play around with adding in an upsell to your product after you’ve launched it. Just keep in mind that whatever you choose as your upsell or your onetime offer, it still has to be a no brainer offer for your audience.
So there you have it. My five-part framework on how to successfully launch a brand new product. Those are the five steps I followed to recently launched Story Vault, which generated over a thousand customers in a month.
Now, if you want to build a community of engaged followers who will become buyers when you launch your product, then I highly recommend you check out Story Vault. It is my answer to your Instagram Story problems. Story Vault is hundreds of prompts and ideas that you can share in your Stories or in your Facebook posts, your blog posts, wherever. But these prompts help you guide your customer through their customer journey. So you choose the prompts depending on what you need.
Maybe you need more eyeballs to your profile, more engagement, more lead generation, more sales. You choose the prompts depending on the season you’re in, and then look at your revenue increase to ease revenue and selling like hotcakes.