Lisa Pfister Product Launch Consultant

Archive for the ‘Product Launches’ Category

What is the role of a product launch manager? That’s a question I’ve been delving deep into over the few days.

The simple answer is this. A product launch manager makes lots of money for the client by marrying their great product with her great strategy. She  takes the assets of the client, create a killer marketing strategy, add the tactical elements recommended by marketing gurus like Jeff Walker, Frank Kern & Rich Schefren and voila – instant success!

While this is definitely an aspect of what a product launch manager does it is by no means the ONLY thing that she does.

Since I’ve returned from Jeff Walker’s event in Los Angeles I’ve really been ramping up my business. I’ve been entertaining larger and larger projects and this has given me pause for thought. Since the projects that I’m undertaking now are much bigger I’ve really begun to dissect the process and map it out so the margin of error in my product launches is reduced substantially.

I’ve also been prompted to look at my business very closely because I have had the opportunity to partner with people like Jared Rose, not only a highly skilled project launch manager – but also a highly skilled project manager.  He initiated a project where he is breaking down each element and systematizing it. I and a number of other product launch managers are contributing to this task so we get everybody’s expertise and varied perspectives.

Here are just a few of the roles we have come up with so far, that a product launch manager must either do or hire out and manage.

Launch Strategist, Launch Coordinator, Copywriter, Graphic Designer, Web Developer, Tech Support, JV Manager, Customer Support, Admin Support & Product Champion. Then each of these roles has umpteen responsibilities associated with it.

Daunting isn’t it?

There are a lot of balls to keep in the air. I guess that’s why over 24,500 product launches failed last year. You need to get it ALL right or you put yourself at a great disadvantage.

I’ve given you this list not to scare you, but to prepare you. If you have a good solid team behind you with the experience you need to pull this off that’s fantastic. Just make sure that you have people in these roles, define what they are responsible for, who they report to, who they manage and define their level of decision making authority. If you don’t have people for these roles start by defining their general responsibilities and then decide what knowledge and experience is required for each position. If you do this well in advance of your launch your chances of success will increase exponentially. Get your ducks in a row now -  it’s too late after you push the button.

Hope this helps!

Why do people with mediocre content make 10Xs more than recognized experts in 25% of the time?

Come on now that doesn’t seem fair – but fair or not, it happens ALL the time.

The biggest and best authors – the name brand, top-notch, recognized experts are making a fraction of what the upstarts are making.

Most highly coveted business authors make a comfortable living. They have risen to a certain place in their careers where they are courted by publishers and welcomed by large audiences around the world. They have achieved a certain level of success.

But if I were them I’d be really frustrated knowing that they spend years of their lives buried in their home offices cranking out book after book only to hop on plane after plane, going to city after anonymous city promoting their latest creation and selling their speaking services – while the guy without a fraction of their skills is working 3 months a year never having to leave the comfort his own home.

So why the gap? How can mediocre content providers charge way more for their content, and spend a fraction of their time marketing it with far superior results?

Established authors are playing by the old rules. They understand the traditional ways to make money. They write and speak.  They promote in traditional media, do countless radio, print, online and TV interviews.

There are two problems with the old way of doing business. Firstly, this way of making money takes a tremendous amount of time and energy. It wears on you. Secondly, it is nowhere nearly as lucrative as the methods being used by the upstarts.

To make the money you truly deserve you’ve got to change the way you do business. Conventional wisdom just doesn’t cut it. I just saw a PR firm that promotes authors advertise virtual book tours like  it’s a new idea – man, if this is something that people are buying it’s no wonder this industry is in such bad shape!

What’s really needed is a total paradigm shift. This industry – like every other industry for that matter – needs to see what is working like gangbusters and emulate that success, not just do things like promote online and call it revolutionary (that almost makes me laugh, except it’s so sad).

Take a look in the internet marketing world, see what’s catching on and spreading like wildfire to the real estate world and the personal development field. What is it? What are the grizzled veterans in these fields starting to embrace?

It’s a proven way of demonstrating the value you have to offer to your prospects and customers, building anticipation for the release of your product, getting an army of affiliates and joint venture partners to promote you, proving upfront to the people who need your knowledge that you’re the source to go to – all in a way that doesn’t make you hop from city to city on an endless gerbil wheel of interviews and book signings.

How do you do this? Learn how to launch your product. That’s what I did. I found the most effective marketing techniques being used today and adapted them to my industry. I studied under people who are marketing geniuses like Dan Kennedy, Jay Abraham, Frank Kern, Dr. Glenn Livingston & Jeff Walker.  It took a lot of work, and made a number of mistakes along the way but I get it now, so it’s been worth every minute of it. The results speak for themselves.

Why am I telling you all of this? It’s not because I get paid to promote any of these guys, it’s just that there’s a golden opportunity for people to use their methods in fields where they don’t have any presence. But of course time is ticking on and you need to start learning what to do to make the most of this opportunity while it’s not commonplace in your industry.

Why am I focusing on authors? Two reasons. Firstly, as an owner of a business book summary service for the past 11 years I’ve had a lot of opportunity to work with authors, understand their value and see that they’re not making the most of their tremendous assets. That drives me nuts! Secondly, high-end authors have information that, once packaged and repositioned properly, would make for a KILLER launch.

I know that this is true for high-end authors, the real experts in their category – but how about you? Do you have special knowledge that could take your industry by storm if you broke off the shackles of conventional marketing and embraced marketing strategies that have worked like gangbusters in other verticals?

Really think about his before you dismiss this idea and move on to the “next important thing” in your day.

You’ve spent your entire business life adding value, learning, teaching and credentializing yourself. Isn’t it time you cashed in?

Consider this question very carefully.

A good Product Launch Manager doesn’t come cheap. They’ll ask for a substantial upfront fee and a considerable percentage of the gross sales. Then you still have to pay for a number of other fees associated with the launch (like copywriting). Then there’s the payout for the JVs. You may be left wondering why is my percentage so small when I developed the product?

That’s a valid question.

Here’s the thing. I know you already understand this but 100% of little is not nearly as good as 35% of tremendous. A good product launch manger will make all the difference in your launch.  Actually they do a lot more than just make for a successful launch. They really bring your entire business to a whole new level. They get you the initial money produced by the launch but they also grow your prospect list so your next launch will be more impactful. They grow your customer list (which also makes you much more attractive to joint venture partners). They cement your connections in your industry. They give you the much needed perspective and connections required to make a big splash.

So the question then becomes can you manage your own launch? Do you have the time? Do you have the experience? Do you have the expertise? Do you have the connections? Would you hire yourself to do your own product launch?

If the answer to these questions are all yes, you found the right product launch manager – yourself. Congrats!

If not, and you have a product that meets this type of criteria you should seriously consider hiring a product launch manager.

• Ready to sell product (helpful if something like it has been successful in the past)
• Be trusted and liked by your customer base
• Provide high margin, high ticket products (information products are ideal)
• Have a large responsive list of customers and prospects
• Enjoy relationships with companies who will promote for you

What if you don’t meet that level of criteria yet? Or you don’t have the resources to get the help of a dedicated product launch manager. Then consider finding a product launch consultant who you can guide you. You still control the reigns, find the people to build out your team, and are responsible for all the nuts & bolts of the launch – but when you get stuck you can contact a seasoned pro who can point you in a new direction, who can give you perspective, who can suggest resources, who can make all the difference in the success of your launch.

Still beyond your reach? Then start building connections and create a mastermind group where everyone contributes to the success of each other. Is this the fastest route to success? No, but at least it’s a start and that’s nothing to sneeze at.

There are many ways to achieve your goals but the bottom line is take some action to move forward, whether that’s by hiring someone to manage the entire project, consulting with someone to guide you or by taking the reigns yourself. Each path can result in tremendous results. Just pick one and take action.

We’ve all heard prominent marketers talk about how imperative it is to pace the relationship you have with a prospect. The analogy they usually use is that you don’t ask someone to marry you on your first date. Of course that makes sense.  It’s so critical to foster relationships with your prospects before you ask them to trust you with taking the big step – taking the credit card out of their wallets and actually making the purchase.

This is probably one of the reasons that I found the product launch sequence used by Jeff Walker in his Product Launch formula so compelling. It gives those of us who provide services online a way to “court” our clients in the prelaunch sequence. We share our story, we provide great content, we give away some of the best stuff we have. This allows us to build trust and value in the eyes of our prospects. It’s a solid way to really build a long standing relationship.

This being said few, far too few marketers actually follow this strategy. Even though they know that a tiny fraction of people who land on a sales page will buy, they think that somehow their situation is different and in their case they’ll be successful.

Now, you’re wondering why is the title of this post referencing Egypt? This is where it all gets tied together. J

Two years ago I went on an amazing adventure around Egypt. There’s always a constant barrage of people who are relentlessly going after tourists to sell them their wares. For the most part they’re just selling commodities that can be purchased one more street down so there’s never any real pressure to make a purchase at that time. With a thousand perfume shops, a thousand tshirt shops a thousand statue shops why buy now? So the success of most merchants relies on two things: price and luck. Hopefully they are offering a cheap enough price or they’re just lucky enough that that person is ready to buy now.

That’s the way it is with most internet marketers. There’s a ton of choice “around every corner” so you rely on luck and price.

Here’s where the smart marketers in Cairo really shined. They didn’t try to sell me. They engaged me in some unalarming way while walking down the street. Then they invited me in for tea. They shared stories with me about their culture and their city. They treated me as a friend. Eventually they introduced the benefits of their products and given the relationship we started and the law of reciprocity I bought willingly, even when I wasn’t in the market for what they were selling. The funny thing is – I don’t regret any of the purchases. They were sound products and I enjoyed the experience. I knew what was going on but still I was brought into the buying experience because of their skill in engaging me without trying to sell me.

We’re all tempted to get the quick sale – but remember how inefficient it is. Take your time with your prospect. Give him value before you ask for it in return. Date before you propose or walk (and sell) like an Egyptian.

So this is pretty cool. Ever since I came back from the Product Launch Manager training with Jeff Walker I’ve been emersing myself in a lot of new technologies – new for me anyway. Before I understood the importance of Social Networking – thanks Don Crowther – I shyed away from this stuff. I just relented recently and joined Facebook to share photos with people I met on trips. Now that I’ve been back I’m on Facebook big time, starting the Twitter circuit and although I’ve had blogs for customers to share their views on products etc. I’ve never had my own. Thanks to Hubert Lee for making this so simple!