I first read this book nearly a decade ago when it was called “The Product Launch Formula” but decided to revisit the updated version to go over some principles about launching products online.
Here is a write up of my notes from the book which is available on Amazon.
tl;dr Launch Takeaways
- Prelaunch content conveys:
- Authority – essential to building trust
- Social proof – follow our peers
- Community – act the way we think the crowd acts
- Anticipation – new toys arriving on Xmas morning
- Reciprocity – give back to square up terms
- Likeability – gracious, kind, generous & honest
- Scarcity – Fomo in to avoid missing out
- Day1 – benefits & opportunity, authority & social proof, teach add value, answer objections, link plc2, CTA comment on socials
- Day3 – recap opportunity, recap authority, deliver value (case study), answer objections, link plc3, CTA
- Day5 – thanks for CTA, recap, deliver value, answer questions explainer, scarcity, CTA
- Day7 – LAUNCH, 25% of orders on launch day, first email We are open, 2nd email Everything works, thank you for the response
- Day8-11 – daily email, answer questions, communicate scarcity
- Day12 – 50% of orders come on the closing day, special launch offer ends, two emails, final chance
Launch Book Notes
Harnessing psychological principles can considerably enhance the likelihood of a successful product launch. Pre-launch content is crucial to establishing authority, showcasing social proof, fostering community, triggering anticipation, generating reciprocity, evoking likeability, and inducing scarcity.
Communicating authority is pivotal for earning consumer trust. This can be done through social media, video content, blog posts but email lists are the leading platform for converting browsers to buyers.
Shameless plug, I have a newsletter at https://bachini.substack.com I haven’t launched anything yet but never say never.
By demonstrating sound knowledge and expertise in the area that the product deals in, you improve the chance of winning over your audience. Social proof is vital, humans are social creatures that follow the behaviors of our peers. Generating positive buzz through, testimonials, collaborations and endorsements creates reassurance and customer confidence.
Building a sense of community is also essential. Individuals are more likely to act when they feel part of a group with common interests. Through interactions on social forums, you can create a community of potential customers that shares mutual excitement for your product.
Anticipation, like the thrill of opening Christmas presents, significantly intensifies the desirability of a product. Creating suspense around the benefits and potential of your offering will nurture excitement in potential customers.
Human beings are greatly compelled by the principle of reciprocity. Offering customers something of value increases the likelihood of consumers reciprocating that kindness by purchasing your product.
Be likeable, honest, gracious, and kind throughout your business. Communicate your values, goals, problems and be personable. People prefer to buy from people rather than anonymous conglomerate businesses.
The element of scarcity or FOMO (Fear of Missing Out) can be a powerful incentive. Limited-time or limited-quantity offerings trigger a sense of urgency that can effectively drive sales. A special launch offer can last for 5 days and the book suggests you’ll get 25% of sales on day 1 and 50% on the final day.
A pre-pre-launch phase can gauge interest, prove product market fit and engage an audience. This is similar to the lean startup methodology of testing an offer at the lowest possible time and cost commitment.
The first day of the pre-launch should set the tone for the entire sales sequence. Essential points to cover include product benefits, the authority of the brand, and the added value the product brings to the customer. It’s also crucial to address any customer objections outright and encourage engagement on social media.
Communications should go out on Day 3 and Day 5, the focus should be on reinforcing previous messages about opportunities, authority, and value. This can be achieved by sharing case studies or answering additional customer queries and concerns. Utilizing platforms like YouTube for product explainers and demonstrations work too. Subtle reminders of the scarcity of the product will motivate customers to act.
On launch day two emails go out. The first stating “We are open” and the second is “Everything works; thank you for the response!”
For the next four days, it is essential to keep the lines of communication open. Answering questions, delivering value and communicating scarcity through daily emails helps maintain customer engagement and interest.
Remarkably, half of the orders often come on the closing day. Therefore, making sure your audience is aware of the special launch offer’s closing is essential. This could potentially be achieved through two emails highlighting the final chance to benefit from the offer.
Effectively launching a product online requires principles of authority, social proof, community, anticipation, reciprocity, likeability, and scarcity. Delivering valuable information and maintaining a tangible sense of urgency throughout the launch process is fundamental to its success.
There are more book reviews, summaries and notes here: https://jamesbachini.com/category/business/book-reviews/
