7 Keys to Making the ‘Product Launch Formula’ Work for You
JANUARY 1, 2019
Jeff Walker’s “Product Launch Formula” is a foundational approach used in today’s direct response online marketing. In fact, we at Full Cycle Marketing have strategized and implemented campaigns using this method to help many of our clients achieve 7-figure launches.
We’re not alone. Jeff Walker himself is an “internet millionaire” and the process he shares in his #1 New York Times Best Seller book, Launch, has been used by by thousands of entrepreneurs in every niches and market imaginable to create wildly successful product launches.
What is Product Launch Formula?
Product Launch Formula is a framework to “launch” (market and sell) a product online. Centered around a strategic sequence of content, PLF allows you to cultivate anticipation for your product’s release so that your target market gets so engaged they almost beg you to sell to them.
Full Cycle Marketing Clients who use Product Launch Formula:
- Ruth Soukup
- Kris Carr
- Michael Hyatt
- Gabby Bernstein
These online entrepreneurs have each conducted five, six and seven-figure launches using the PLF method.
Why does it work?
Why Product Launch Formula is so effective is because it turns your marketing into an anticipated event. Instead of releasing a product for sale on your website, you set a limited period of time to make it available, like five to seven days – max. Your marketing content and messages all point people to this anticipated event using sequences, stories and triggers. By the time you “open cart,” people are figuratively lined up at the door waiting for the chance to buy.
A PLF style launch gives you an avenue to connect with your prospects and deliver real value. You have a solution that will help your prospects. By using triggers, you can cut through the marketing fog, and help them connect to the idea that there is an opportunity for change or transformation if they take action.
Product Launch Formula Stages
In this phase you build anticipation for a potential new product you’re working on, then solicit feedback from your audience so you can uncover objections before you even craft your sales copy.
In the pre-launch phase, you publish a series of three high value content pieces (like videos) that use psychological triggers (authority, social proof, community, anticipation, reciprocity). You begin with a powerful piece of content that sets up the overall promise and opportunity of the launch. You engage your market in a conversation by asking them to respond to you content on social media. You tell your story in a compelling and memorable way. In the final critical piece of content, you transition to announce your product and sell it to your viewers.
The meat of the PLF, the launch phase is the set time your product is available for purchase. In this phase you connect your offer to the hopes, dreams, fears and aspiration of your prospect customer. The sales language used in emails hearkens back to the traditional long form sales letter. PLF converts the old 10 page sales letter into a 10-day email sequence, which is more palatable to today’s audience.
In the post-launch phase, you set up next launch by uncovering the objections of those who didn’t purchase and using that feedback to improve your product and sales messaging.
You also identify opportunities to remarket to your buyers. A person on your buyer list is worth 10-15x than a prospect, so investing time into providing your customers additional value and growing with them will pay off.
Keys to Making PLF Work for You:
- Always be building your email list. PLF only works if you have a primed and pumped email list that you’ve built trust and a relationship with over time. You cannot build a list overnight and expect premium results.
- Always deliver high value. From your initial lead magnet to your fulfillment of the product, everything you write, sell and deliver should be top value and solve a problem for your prospect. Everything else is noise.
- Make more than 1 offer (think of doing 2-4 launches per year). Don’t put all your eggs in one basket. Create multiple offers throughout the year. If you’re building your email list, you’ll have new prospects to target, and if you’re selling, you’ll have new buyers who are eager for what else you can provide them.
- Don’t forget relaunches & evergreen. The launch process can feel like a roller coaster. The key to building sustainability into your business is by relaunching with the same content to new prospects and converting your launch funnel into an “evergreen” model, where “open cart” is dynamically triggered according to when a contact enters your system.
- Always give more than you promise. Delivering valuable content and super-serving your customers will pay in dividends.
- Have a solid follow up process. Don’t put so much focus on marketing that you drop the ball during the sales follow-up.
- Follow up with non-buyers. Non-buyers have valuable feedback you need to make your product and sales messages better. Ask, and they’re likely to give it to you.
Want to see the PLF in action? Download this free case study to go behind-the-scenes of a $2.3M PLF style launch we did for one of our clients.