How does "Product Launch Formula" work?

Yep... it goes just like that! Piece o' cake.

That's the jist of it, but their are a ton of other crucial components in making it work and maximizing your profit.

You've summed it up in pretty much the same way the route to becoming a billionaire is summed up in the following: "Create a product which brings in $100 profit per sale, then sell 10,000,000 units of that product."


Paul

All of this while sipping fruity drinks on the beach!

I've never purchased PLV, but I'm assuming he says that any niche can do a product launch? I've witnessed several non-IM product launches and they don't seem to have the same effect on the audience when it's in a boring niche. They practically follow the same formula and it just doesn't stick, probably because it's not cool like self defense, forex trading, or making money online.

So you think it's possible to make any niche exciting?

Say you sell quilt-making DVD's. While not necessarily boring to some people, not really something where there would be tremendous urgency to get up and buy. I can see how you'd get some traction with a slight build-up followed by an email blast. But are people excited? It's hard for me to imagine people getting that excited over something like that.

I have done quite a few launch consultations in the past week and each person I have spoken to is doing basically what you think it is all about. But as IdeaLady mentioned, it is truly about "Relationships" and you can not do that by developing a product and sending people to a sales page.

That is what most people do. Build product, Market and advertise, then send people to a landing page/ sales page. Converts like crap. Sure, works for some.

But with a launch, you extend the sales process. You build the relationship. You provide tons of value upfront. You use numerous mental triggers so people are pre-sold when the cart opens. All of John's pre-launch videos were valuable. Content driven. So people felt confident purchasing his $2000 package that they were getting an extreme amount of value and I guarantee they are excited to get rocking on it. Just look at all the comments he received. You can do that with a traditional sales page approach.

Build the list, then provide value and warm the list. Make it an event. Tell a story. Tease and create anticipation. And so much more. There is definitely a Formula, and Jeff Walker has mastered it. Then he taught others how to teach others. That is true mastery. It's not rocket science, but it is a formula and there is more to it than your 1-4 steps. At least to create huge numbers, a huge list, and a solid relationship with your list.

Cheers!

Not sure how cool it is for me to respond in this thread, but I'll take a chance...


Actually, that's really not very close.

First off, your #1 point is "create a product".
Well, the standard Product Launch Formula approach
includes a pre-prelaunch phase. While this isn't
strictly necessary, what it does is make sure
you've got your product and offer tuned to what
the market wants. So your point #1 is actually a
bit out of order... you don't just "create a
product" - you use the early phase of the launch
to make sure you have a product the market wants.

Second... well I've never thought about it as
"seducing" JV partners. That's an interesting
idea, though.

In the long run, I think it's more
about delivering huge value to your partners...
something that converts really well and delivers a
big ROI per visitor. It's also uber-important to
deliver a great product to the people your partner
refers (and that goes back to getting the
product/offer right in your initial
pre-prelaunch.)

Your relationship with your partners will end up
being an extended one... so you better have
something that goes beyond "seduction"...

And this is important - JVs are NOT a part of many
launches. The majority of the launches I have
personally done have NOT had any partners. In
fact, I teach that most people should do an
"internal" launch before they do a big JV launch.

Third... with regards to "promote like mad" -
well, Paul has already had a good analogy. I'll
add another one - I think that's like saying
you're going to become a great guitarist by
playing a lot of great musical notes. Easier said
than done, especially if you don't have a proven
and tested plan.

I think it's more important to promote EFFECTIVELY
than to "promote like mad". There's a specific
sequenced way to do this in a launch that builds
excitement and anticipation for the launch.

Fourth... some people limit the number that is
available. For instance, the last three times I
opened Product Launch Formula I had a limit of 500
people. I did this because we have an interactive
class and also to help keep my customer service staff
from losing their sanity. Each time I opened, I sold out
within 24 hours or so (and sometimes faster.)

HOWEVER, many people do PLF launches WITHOUT
limiting sales or pulling the product off the
market.

This is the scarcity trigger we're talking about.
It's one of many (well over a dozen) mental
triggers that are part of PLF.

Finally, you can't get Product Launch Formula for
$700. When I released the original version in 2005
it was $997.00.

When I completely re-built the course and came out
with a hugely expanded version PLF 2.0 in 2008, I
raised the price to $1,997.00 (and I never
discount prices.)

Not cheap. Unless you consider the return on
investment people are getting.


- Jeff

Product Launch Formula is incredible and Jeff Walker really over delivers.

I would say you got it mostly correct. I however believe that "Seduce you JV partners" comes after you have made your initial sales where you fine tuned your sales letters and message.

Michael