At a recent mastermind, Ezra Firestone mentioned that the best way to increase your revenue is by adding new product lines. Launching a new product is exciting, but it’s important to stay focused and keep your eye on the prize.
If you do that, it’s an excellent chance to get a quick revenue boost, as well as a longer stream of revenue through automations.
It’s one thing to have a great product, but another to successfully launch it. A successful product launch needs a coordinated marketing effort behind it.
Here’s how we helped a client launch a new product line to boost his bottom line and increase his recurring revenue.
Using Email Marketing During Your Product Launch
An email list is the swiss army knife of digital marketing. It’s the most versatile tool in your toolbox. That’s what makes it such a strong component of the product launches we handle for clients.
There are a few tricks you can use to have a successful product launch, but it all starts with your launch campaign. You’ve got to hype your product. Your campaign should look something like this:
- Pre-hype: get people excited. We like to start with a bit of a warm-up email hinting that something big is coming. We tell subscribers to keep their eyes open. This is sent roughly 48 hours before we announce a launch.
- More pre-hype: 24 hours before we announce the new product, we tell subscribers that something is coming the next day they absolutely can’t miss.
- Product announcement: Here’s where you announce your new product. Let them know it’s available, and that they can be one of the first to get it.
Here’s what one of our smaller launches looked like based on initial emails: Your customers can’t buy your product if they don’t know when it goes on sale. That’s why you need to run pre-hype campaigns to get people excited. Your copy should target the need that your product satisfies before ever talking about the product itself.
Neil Patel points out the importance of making your hype about people, not products. Don’t tell people what your product does. Explain their problem to them instead. Get them to understand that they need to solve that problem.
And you just so happened to have the perfect product to do it.
Seems easy enough, right? Just hype up your product, then send out an email to announce it. Sure, this is the basic setup for a product launch, but we like to do a little extra. That little extra has been what’s made the difference for us so far.
Add Automations to Improve Your Product Launch
Whenever we do a product launch, we always write at least two automations for that launch. We do an abandoned cart, and a browse abandonment automation. These are a little different than other automations we run, such as our giveaway automation.
The abandoned cart automation can be set up so that customers will be added to it when they add your new product to their cart, but don’t complete their order. We set it up like this:
- 2 emails reminding them to complete their order. The first gives them a time limit to do so, the second reminds them not to let time run out.
- Content emails. Now is the time to share the content you have about your new product. This is best if you have a video review or some kind of blog review from an external source. You can alternate internal content, review, internal content.
- Discounts. Make whatever offer you’re comfortable with giving on your particular item. Include a time limit, and follow up with a last chance email to give them a sense of urgency.
The browse abandonment email is for when a customer that is already on your email list browses the product page, but doesn’t end up placing an order. The set up for this email is essentially the same as the abandoned cart.
The main difference is that you’ll use different copy, and your first two emails will be less about completing an order, and more about placing one.
These two automations have been some of the biggest drivers of success for our product launches. Take a look at these stats for how they’ve performed over time for a specific product: The automations make a big difference. And the best part is that they don’t end when the hype dies down. You can keep them running to act as highly targeted automations that will generate more sales for you over time.
A lot of work goes into a product launch. But if done successfully, you can easily run a five-figure launch with your ecommerce business.
If you’d rather leave the heavy lifting to us, that’s fine. Book a discovery call today, and find out how we can launch your next product. Heads Up: Discovery sessions aren’t useful everyone… we specialize in helping 6, 7 and 8 figure ecommerce businesses build a community of adoring fans, while making bank with their email marketing.
If you don’t care about your customers, or if you don’t like testing new things, you can keep on moving. If you want to elevate your email marketing game, but your brand brings in less than $50k/month click here – I’m working on something special for you.