How you’re leaving money on the table by only launching once

So maybe you've already launched your digital product and nobody bought that first time round, or maybe a few people bought and it wasn't quite what you were hoping, or maybe even a lot of people bought and you were stoked with it. You've launched it once and now you are moving on to the next product, and you're going to create that product and launch that one. That's your plan.

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Why launching only once could be a huge missed opportunity

This is a big mistake because we are creating a lot of extra work for ourselves by constantly creating new products to launch each time. By building out an entire library of products, you now have to make sure that all of your products are updated, that you have customer support for all of these products, and that you are marketing all of these products so that people can keep them because they're not just going to find them. People aren't just going to stumble upon your product on your website and buy them. That's unfortunately not how it happens 90% of the time.

Now, I know one big hesitation that people have is that, “Well, isn't my audience going to get sick of hearing me talk about the same product?” Well, you know what? They actually don't. I'm launching Launch Magic for the third time at the moment or in a couple of weeks and I have never heard anybody tell me, “Stop talking about Launch Magic.” You know what? You don't have to launch it five times a year. That might be a little bit excessive and maybe then they would get sick of hearing you talk about it, but a couple of times a year would be awesome. And once you've nailed that launch, once you know that each time you launch it, it's bringing in more and you want to either keep launching it or maybe you want to put it on Evergreen, at that point then you can say, “Okay, what's the next product that I'm going to create?”

Only now after I've had three launches of Launch Magic am I thinking about, “Hmm, what's the next course that I'm going to create and how's that going to fit into my business?” Because I've spent the last year and a half getting this other product and this other launch, Launch Magic, I've been getting it perfect. And only now am I at the point where I'm happy with how it is and I have the space to go and create and launch something new. So when you've launched once, we really want to find out why the people who didn't buy chose not to buy. Even if your launch was successful, even if you made a lot more sales than you were counting on making, we still want to find out why the people who didn't buy, didn't buy. We want to find out why, so that we can inform the content for your next launch. That can show you what you need to tweak in your next launch to improve it, to scale it, to grow it before you move on to the next product.

I'm going to leave you with a quick little recap of what happened with my podcast launch plan, which is another course that I have. The first time I launched it, it brought in a total of $3,297. The second time I launched it, I think was about 2,450 something roughly. The third time was I think 2,900. I launched it a couple more times, and then only after I'd launched it a couple more times did I put it on Evergreen, so that means it was available to buy all the time. And in the first 12 months that that was available, it brought in over 750,000 US dollars. So that is the power of launching over and over again. If I hadn't live launched it multiple times, I wouldn't have been able to make those tweaks, I wouldn't have found out what was going through my audience's brain, I wouldn't have been able to address their hesitations to buying. And now that I've live launched it that many times and it just tick away in the background, that is a constant revenue stream for me.

I hope that this has shifted your mindset a little bit about how often you need to launch and how you don't just launch once. And also how if your first launch isn't a small launch, it's not the end of the world. It doesn't mean that it failed. My $750,000 product made of what around $3000 in the first launch And most people would look at that and say, “That's not worth it. That failed.” But actually, no. That was a sign that people wanted the product. And only by relaunching and relaunching it did I get it to the stage where I could scale it up. Hopefully, that helps a little bit.

 

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