I remember back in 2013 & 2014, when I was doing my first few ‘official launches’, I had a ‘go big or go home’ competitive spirit. It always kicked in and drove me to try to do my launch like all of the big marketers that I was following.
I wish you could have seen my living room. There were giant post-it notes on the walls, (everywhere), with a to-do list on each that was like a mile long.
(I wish I had a picture to show you because it was absolutely ridiculous!)
The days were LOOOONNNNGGGG and by the time I ever actually got to the open cart period, when I could welcome new clients into my program, I was burned out and so over it! I just needed sleep and a break. It just took all the fun out of launching.
What I refused to acknowledge at the time is that all of the big marketers had teams of people helping them and I was a one-woman show…
There was no way I was ever going to be able to do all of the things they were doing. #realitycheck
Over the years, I have spoken with so many coaches that have fallen into the same trap I did. Their intentions were in the right place, but they just didn’t have the team to pull off a grandiose launch like like they saw so many others doing.
Has this ever happened to you?
After 10 years of launching, I’ve learned to simplify and focus on the basics, rather than the bells and whistles. I still use this approach today, (even now when I have a team behind me), and it’s resulted in my launches being profitable AND enjoyable.
Launching is an important part of every successful business so finding a strategy that works for you in whatever season you’re in is really important.
As you probably already know, a launch is a marketing campaign that piques interest in an offer that you have, so you can get people interested, excited, and ready to enroll in your program or service during a specified cart open period.
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5 KEY COMPONENTS TO A SUCCESSFUL LAUNCH
Launching is an important part of every successful business.
A launch is a marketing campaign that piques interest in an offer that you have, so you can get people interested, excited and ready to enroll in your program or service.
This can be your 1-on-1 coaching, your online program or anything you have to offer your audience.
Key Component #1 – Open & Close Dates
Every launch needs an open and close date.
People love deals and special events when it comes to purchasing and one of the most important is the date that it starts and more importantly, the date that it ends.
A deadline, or closing date and time, pushes people to buy, because time is limited to act. When there is a set timeframe for them to purchase, more people will sign up. Without a deadline or urgency, people will put things off until ‘someday’. People are natural procrastinators so conveying a deadline as part of your marketing strategy is a sure-fire way to grab their attention and get them to act.
Key Component #2 – Urgency & Scarcity
One of the most popular launching strategies used today is ‘urgency & scarcity’.
In fact, one of the most well-known cases of urgency and scarcity is Amazon Prime Day. It is a 24-hour period when you can get special deals and pricing on many of the items you’ve been wanting to purchase on Amazon when you are a Prime member.
To make this offer even more compelling, Amazon always uses this disclaimer: If you’re shopping Amazon’s lightning deals, be aware that those short-term, limited quantity deals will likely end before the full sale does.
That is a GREAT example of Urgency & Scarcity. For most launches or special promotions for health coaches, we recommend running your launch for 3-7 days.
We can all use this strategy in our business to make more program sales in a few different ways. The next three components will describe some of those options.
Key Component #3 – Time-Sensitive Bonuses
This is one of the most used, and the most successful, components to a profitable launch.
Inside the Wellness Business Accelerator program, we teach our students how to use time-sensitive bonuses to sweeten their offer so they can make more sales during the open cart period.
A time-sensitive bonus is something that is available only for a short period of time, (during the time that your launch is running), and once the doors close it goes away and isn’t available any longer.
Using this component as part of your launch strategy can increase sales by as much as 25-50%!
Key Component #4 – Special Pricing
This is such a great way to get your ideal clients to stand up and pay attention to you and your program during the launch period.
However, special pricing doesn’t always mean a discounted price, although it can definitely include a coupon code or something similar.
For this key component we would like you to think in terms of your entire launch offer. Any way that you decide to package your launch offer can be considered special pricing because of all the reasons we’re talking about here today.
Beyond a discount code, special pricing could include the value of the time-sensitive bonuses you’re offering, it could include an added perk that you don’t usually offer like a private call with you, or it could be something like a bundle of programs offered at a special price.
Key Component #5 – Limited Spots
It doesn’t matter if your launch offer is promoting one-on-one coaching or a group program, limiting the number of clients that can enroll is a surefire way to make it more successful.
This is also considered part of the urgency and scarcity component we already discussed but we believe it deserves a unique spot on our list because it is such a powerful tool.
A limited number of spots often increases the number of sales you’ll make on day #1 of your launch simply because your audience does not want to miss their opportunity to grab one of those spots.
As we mentioned before, it is human nature to procrastinate until the last minute when purchasing something so adding a layer of urgency and scarcity by limiting the number of spots available with your offer takes much of the procrastination out of the equation and gets people taking action.
Making more sales on day one is so good for our mindset as business owners and offers us the unique opportunity to brag about it in our following marketing messages in email and on social media.
Let’s say you have 25 spots available in your program and 10 of them sold on day one. That means that 40% of your spots are filled in just one day. If you’re running a 5- or 7-day campaign and almost half of your spots are filled on the first day and you let your audience know, they are going to be even more eager and excited to join sooner rather than later – which is a win for everyone.
I can’t think of a more compelling marketing strategy to get people to take action.
GAIN MOMENTUM IN YOUR BUSINESS WITH LAUNCHES
There are so many different ways to launch an offer and after all these years I think I have a pretty clean process for focusing on the things that really matter and move the needle when it comes to sales.
In episode 329 of The Wellness Business Podcast you’ll discover:
- The 5 key components every launch must include to be successful
- Why implementing these key components, a minimum of four times per year, can increase sales as much as 25-50%
- How these strategies can increase launch momentum by making more sales on day 1, thereby, giving you social proof that your program is in demand
To learn the 5 components of a successful launch, listen to episode 329 of the Wellness Business Podcast!
Links/Resources mentioned on the show:
3 Secrets Every Wellness Business Owner Needs to Know to Grow a Thriving Practice in 2023
Links to resources:
