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Product Launch Strategy
When you launch your next product, should you use a live or evergreen product launch strategy?
I asked this question for a long time and have used both several times, I now have my answer…
Live Launch Method
I HATE live launching.
I know that goes against the grain, as the popularity of live launches continues to grow. I understand why they’re so popular, because I too have used a live product launch strategy to sell courses and programs, and they often result in a big payday.
This is great. Except there’s a fundamental problem with this. And it’s a problem that gives you short term success with no long term gain…
None of this is to say there aren’t a lot of benefits to a live product launch strategy. I’ve used this myself many times in the past and depending on the situation, I may do so in the future.
After all, a live product launch strategy creates:
- A lot of money right now…
- A lot of attention and exposure right now…
- A lot of traffic and leads right now…
- A lot of opportunities for partnerships and JVs right now…
This is great and can certainly help your cash flow in the short term. Yet once the dust settles, you tend to realize your live product launch was a lot of work and didn’t bring you that much money (when you deduct the many costs)
So I prefer another way, and in this video, I break down what this 🙂 Watch it now and decide for yourself whether live or evergreen is the way to go.
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Full Video Transcription
I absolutely hate launches. I love an Evergreen business model. The ability to create and generate revenue every single day. Scott Oldford and today I wanna talk about Evergreen versus launching.
As you see, there’s lots of people in this online space that launches this and launches that. They’re always doing launches. They’re always kinda cross-sharing. Hey, you promote my launch, I’ll promote yours. It’s an interesting little bubble that we’re in, is it not?
We’re always launching something and creating scarcity so that we can sell it. See, I believe that business is based upon illuminating someone else’s pains instead of manipulating someone. You can really kinda be in a grey area of manipulation of scarcity.
I mean, we opened it and we close it. We have cohorts and I get it. I understand the need for scarcity. We’re human beings. We’re human doings doing the things that we do on a day-to-day basis and we only have so much time to have the attention that we need.
Scarcity creates the attention and we end up in this space and time of be able to buy something, because we feel like it’s going to go away. We’re taught to be able to do this. We’re taught to create scarcity and create timers and things where the, when is the countdown?
How long do I have until the offer is valid? Well, what if we, instead, spent more time actually allowing that person to truly encompass, embody the pain they have? Truly understand the process and instead of utilizing scarcity, just ensure that that person wakes up and in their mind, they need to change.
They need to make that level of change in their life or their business or their relationship, because they’re just done with it. They had enough and instead of using that kinda age old scarcity, we use illumination instead. Now, there’s lots of good things of doing launches and I’ve done plenty of them and know that they’re not a whole lotta fun.
You work, you work, you work, you work, you work for three or four months and you launch, and you get a bunch of money and you’re super happy. Everyone’s high-fiving and then you realize that it’s not actually that much of a profitable business model.
Launching is based upon not just a scarcity piece of it, but as a business and as a business model, putting all your kinda eggs in one basket. I mean, it’s not exactly that smart to just go and do a launch and not actually know if everything is going to work. You have no ability to optimize. You have no ability to know if this video is going to work or that video is going to work, or this webinar pitch is gonna work, or whatever it may be.
If you do it the wrong way, every single time you launch, your advertising costs are more expensive, because the costs of advertising are continually going up. If you’re not advertising today for the product that you can sell today, today, tomorrow it’s gonna cost more money.
It’s kinda like knowing that the stocks are gonna rise, but waiting until tomorrow to buy it. Doesn’t make a whole lot of sense, does it? The problem is most people just don’t know how to get people to buy when they’re out of launch mode, because they need that scarcity. They need that reason of actually being able to sell, and I really just truly believe that if we’re creating enough value and we’re putting enough value out there, that we could always be selling.
We don’t need the next sale, or the next product, or the next moment to be able to have that sale. We can sell always, because if we illuminate and we show the pain, we help that person understand the pain, and we show the gap, and we show how to fix that gap, how to solve the problem, well, the commitment’s not gonna come down to even price.
The commitment comes down to that person being ready to take action and ready to say, yes, I wanna solve that problem. It doesn’t matter if you’re selling information, if you’re selling coaching, if you’re selling products, you should be operating from a place of being able to consistently make sales, ’cause if not, you don’t have a business model. You gotta hustle and I don’t care if you’re on a five-figure, six-figure, or seven-figure hamster wheel.
If you’re on the hamster wheel, you’ve gotta keep on going and going and going and going. That truly is in the business.
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