How to Have an EPIC Launch with Steph Taylor
Launches are an essential part of any business or company. You need to pump up the hype to draw in sales and clients.
A successful launch can set your business up for a month or even years, but there are also benefits of a failed launch, what are they? Dive into this week's podcast with Steph Taylor as we pull apart the six keys to successful launches and how to bounce back from "failure".
Dealing with “Failure”
Launches are hard, launches are scary, and launches can fail. You will probably fail at one point or another, and that's ok because you need to fail to learn and grow.
Don't listen to the "I told you so's" or "I knew you would fail". You need to take action and take steps to try to succeed. Failing is only a failure if you stop the pursuit.
Failures are positive steps in a game. If you fail, you have two options. Sit in bed and cry or put on your thinking hat and pull apart the reasons why it failed. Failing is all about pulling apart the reason why and how it went wrong. So what can I do to execute my next launch better next time?
All the great entrepreneurs of our generations have failed.
Sir James Dyson (the vacuum guy)
Dyson wasn't always a well-known name associated with vacuum cleaners. He spent15 years and his life a savings to develop a bagless vacuum that worked. He developed over 5000 prototypes that failed.
The famous fashion designer wasn't always known for her high-end wedding, gowns. Vera was once a figure skater. But she failed to make the U.S. Olympic figure skating team. She moved on to work for Vogue but was turned down for the editor position before leaving to become a designer.
Walt Disney was fired by a newspaper editor for not having good ideas and no imagination. Disney World is currently valued at a lazy 35 billion dollars.
You won't appreciate the successes until you have had the failure.
You need to know your audience and who you are launching too!
You need to figure out who you’re marketing to, who wants your product, who wants your service. A successful business operator will have their ear to the ground of their community and will capitalise on a niche that is in demand.
Communicate your value to your audience. If you are selling a service, you need to need to be able to sell the end result. People don't want to buy coaching; they want the end result. From then, you need to validate the offer and make it seem worth their investment.
Setting your goals. Where do you want to be after the launch? What is going to be your KPI's? How are you going to measure if your launch is successful? But proceed with caution. If this is your first launch, you should be testing the waters more than trying to achieve any targets.
Build the hype. This is where you need to pump up the excitement about your product or service. IF you launch to a large audience. You need the community to be buzzing about the launch. A successful launch is built around hype and promotion. The more your community know about your new product or service, the greater the chance your sales and clients can snowball.
The Push phase is the step up from the promotion phase. This is the period directly before launch. The 5-7 day window where you push to boost last-minute sales or clients. A Lot of people will wait until the last minute to commit to purchasing. Sometimes you might even throw in a sweetener to get people to commit to the purchase.
The hardest part of implementing this phase is staying motivated, leading up to the launch. And if you have a low launch day on the first day, don't let it burst your bubble.
Analyse the numbers from your launch. Think about what worked well? What didn't work well? What can I improve? What will I do next time? By doing this soon after your launch period, you will be about to reflect on the successes and failures to best set you up for your next launch.
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