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My Product Launch

by Daryl Lim
24 replies
I'm about to do a product launch and I want to get some advice from Warriors.

I'm doing the Stop Smoking niche, and my product is basically an interview with an expert in the niche. This is bundled with 4 other bonuses, ranging from interviews with ex-smokers, a log book and 6-month newsletter.

I'm planning to sell this package at $67, but a friend suggests $47 instead, to make it more appealing to lower-income prospects.

Any advice?

Would a slightly lower price be better than a higher price?
#launch #product
  • Profile picture of the author AMangones
    I would say go for the lower price offer just to get more sales, and then try to monetize your newsletter with some affiliate products.

    You can more than make up for the difference with affiliate sales on the back-end.

    Now this is just my opinion without any market research.
    What are other [similar] products going for?
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  • Profile picture of the author Fun to Write
    Have you checked to see how much interest there is in a stop smoking interview style product?

    Why would this interview be compelling enough for someone to pay $67, or even $47.

    How does your product compare to other stop smoking books and products already available?
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  • Profile picture of the author dougp
    Originally Posted by Daryl Lim View Post

    I'm about to do a product launch and I want to get some advice from Warriors.

    I'm doing the Stop Smoking niche, and my product is basically an interview with an expert in the niche. This is bundled with 4 other bonuses, ranging from interviews with ex-smokers, a log book and 6-month newsletter.

    I'm planning to sell this package at $67, but a friend suggests $47 instead, to make it more appealing to lower-income prospects.

    Any advice?
    My advice is to delay your launch, and complete a business and marketing plan before you waste your time and become frustrated. I could be wrong, but it sounds like you put little thought into how you are going to position your product in the market. There are hundreds of books on amazon dealing with the stop smoking market, whats unique about yours? An interview, and 4 bonuses which are most likely widely available all over the internet with a couple of Google searches? You plan on selling this for $67? I hope you got something rare in your product, or else i think folks will stick with nicorette.

    Doug
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  • Profile picture of the author Daryl Lim
    Thanks for the quick response guys, noted your advice. any examples of 'other products'?

    I can't seem to locate any of my competition. Only found one through Google.
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    • Profile picture of the author dougp
      Originally Posted by Daryl Lim View Post

      Thanks for the quick response guys, noted your advice. any examples of 'other products'?

      I can't seem to locate any of my competition. Only found one through Google.
      Ok, you have to go back to the draw board and rethink your strategy over because im very confident you haven't done your homework on your market. Here is a fraction of your competition: Amazon.com: stop smoking

      Go back and write a business/marketing plan using 1-2 pages. Expand your mind and try your hardest to find the answers to your questions, and then once you piece together something decent, come back to the wf to ask some more questions.

      Doug
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    • Profile picture of the author Brendan Vraibel
      I would have to agree with Doug. I definitely do not claim to be an expert in product creation, however you may want to narrow down to a more select audience. For example how to quit smoking while pregnant or quitting smoking after 20 years etc.
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  • Profile picture of the author Fun to Write
    Clickbank should have some ebooks on this niche, you can study those.
    Also, go to Amazon.com and you'll see lots of physical products. Study what people are already buying. Try to find quit smoking forums to see what their struggles are.
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  • Profile picture of the author Daryl Lim
    Quit Smoking Today | Stop Smoking With NLP

    mine : Tobacco Takedown

    The product isn't fully ready yet but I have done the sales page. The first link is the top ClickBank product in the niche. Compare?
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    • Profile picture of the author Brendan Vraibel
      Hi Daryl

      I've looked over your sales page and it looks pretty well done. One thing that I would suggest is gaining some more testimonials. I once read from one of the most respected marketers in the business that he had set up a software that follows exactly what people are looking at when they were on his site. The great majority of the time was spent reading testimonials. Even your competition has 3x as many as you do, which may seem insignificant but could make all the difference. Since you haven't launched yet and probably don't have many you could go to forums and offer it to people for free in exchange for some feedback.

      On another note, I'm curious where you get all of your bonus products? Just by approaching different vendors?
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      • Profile picture of the author Daryl Lim
        Originally Posted by B and B View Post

        Hi Daryl

        I've looked over your sales page and it looks pretty well done. One thing that I would suggest is gaining some more testimonials. I once read from one of the most respected marketers in the business that he had set up a software that follows exactly what people are looking at when they were on his site. The great majority of the time was spent reading testimonials. Even your competition has 3x as many as you do, which may seem insignificant but could make all the difference. Since you haven't launched yet and probably don't have many you could go to forums and offer it to people for free in exchange for some feedback.

        On another note, I'm curious where you get all of your bonus products? Just by approaching different vendors?
        Thanks for the advice, I will seek out more people who can review my product first.

        As for bonuses, I made them myself. The interview, is of course an interview with ex-smokers. The newsletter is made up from articles which I got my writer to research and write. The log book is simply a .pdf with tables and reminders, and the secret report... is well, a secret.

        I am also looking for more PLR products to include as bonuses, since my competitor does that.
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        • Profile picture of the author iSoftware
          The answer is simple......

          SPLIT TEST PRICES!

          You can use google optimizer which is free to help you do this. Most people have a poverty mentality when it comes to picking prices and ALMOST ALWAYS ASSUME conversions will be higher on the LOWER PRICE product.

          Also, even if they are you want the price that will maximize PROFITS not no. of transactions....

          Let the market tell you which price is right vs. "guessing". It's so easy these days.....
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          • Profile picture of the author Daryl Lim
            Originally Posted by moneykws View Post

            The answer is simple......

            SPLIT TEST PRICES!

            You can use google optimizer which is free to help you do this. Most people have a poverty mentality when it comes to picking prices and ALMOST ALWAYS ASSUME conversions will be higher on the LOWER PRICE product.

            Also, even if they are you want the price that will maximize PROFITS not no. of transactions....

            Let the market tell you which price is right vs. "guessing". It's so easy these days.....
            Ah Thanks for the reminder... Split Testing, I forgot.

            But even with split testing, it would mean that I would need existing traffic right? I currently am not driving any traffic to it yet. What ways would you suggest I use to drive traffic? Finding affiliates...
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  • Profile picture of the author paulie888
    I am inclined to go with the lower $47 price for this niche, but as with anything else, split testing is going to give you definitive results one way or the other regarding the most profitable price point.

    Getting traffic is going to be a little tricky. If you're going to be utilizing paid advertising, I feel something like Facebook ads would do well in this niche since it allows you to target by demographics very easily. If using free traffic, SEO is going to be a little competitive due to the existing competition, but if you have patience and do the required backlinking I think you'd have a good shot at appearing on the first page of Google.

    One free traffic resource you should not neglect is the stop smoking forums. I just did a quick search and there seem to be a decent number of them out there, so if I were you I'd register at a few, and start posting with your signature link leading back to your website.

    Paul
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  • Profile picture of the author CDarklock
    Originally Posted by Daryl Lim View Post

    Would a slightly lower price be better than a higher price?
    $67 is still "less than a carton of cigarettes."

    I think most people who want to stop smoking can identify with that.
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    "The Golden Town is the Golden Town no longer. They have sold their pillars for brass and their temples for money, they have made coins out of their golden doors. It is become a dark town full of trouble, there is no ease in its streets, beauty has left it and the old songs are gone." - Lord Dunsany, The Messengers
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    • Profile picture of the author Matthew Shane Roe
      Originally Posted by CDarklock View Post

      $67 is still "less than a carton of cigarettes."

      I think most people who want to stop smoking can identify with that.

      Not only is it less than a carton of cigarettes (In some places, here it likes $45 for Marlboro) it is also way cheaper than going to a doctor or someone and getting put on medication of some sort. Around here that only cost nearly $3000, I shutter to think of other places prices.
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  • Profile picture of the author E. Brian Rose
    I am surprised that only one person mentioned split testing here. You can't know what the right price is until you test the elasticity. Who knows, your best price might be much higher than you think... or much lower. One thing is for certain... you will never know without testing.
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    • Profile picture of the author CDarklock
      Originally Posted by E. Brian Rose View Post

      I am surprised that only one person mentioned split testing here.
      Isn't split-testing a launch sort of like split-testing the loss of your virginity?
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      "The Golden Town is the Golden Town no longer. They have sold their pillars for brass and their temples for money, they have made coins out of their golden doors. It is become a dark town full of trouble, there is no ease in its streets, beauty has left it and the old songs are gone." - Lord Dunsany, The Messengers
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      • Profile picture of the author Alfred Shelver
        Originally Posted by CDarklock View Post

        Isn't split-testing a launch sort of like split-testing the loss of your virginity?
        Caliban I know this was tongue in cheek (and funny), but I wonder if some people can give more information about the point you made.

        A launch to me is a once off thing.... split testing denotes multiple activities.
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        • Profile picture of the author CDarklock
          Originally Posted by Cathy Shelver View Post

          A launch to me is a once off thing.... split testing denotes multiple activities.
          Some people do multiple-launch releases. They'll launch to their list, then launch to this private forum over here, then launch to that private forum over there, then do a VIP launch for "early bird" customers, and so on, and so forth.

          But none of these launches are sufficiently similar for any of them to provide split-test data for the others. They're not made to the same market under the same conditions at the same time. It's a scientifically invalid test.

          So from my perspective, you can't split-test this. It's simply not possible. You can pretend to split-test it, but it won't be a valid test, and you won't learn what you think you're learning.

          Some people think the principle of testing things instead of trying to guess at them is the important thing, but testing badly is sometimes worse than not testing.
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          "The Golden Town is the Golden Town no longer. They have sold their pillars for brass and their temples for money, they have made coins out of their golden doors. It is become a dark town full of trouble, there is no ease in its streets, beauty has left it and the old songs are gone." - Lord Dunsany, The Messengers
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          • Profile picture of the author EdgeStorm
            My previous experience with doing product launches through firesales didn't see any much difference between $47 and $67.

            The huge difference that I saw was due to the raising of prices after a pre-determined number of days or sales, starting with a lower price.

            Then having back-end like One-Time offer or smt is a must if you want to maximize your profits.

            My two-cents...
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          • Profile picture of the author Alexa Smith
            Banned
            Originally Posted by CDarklock View Post

            So from my perspective, you can't split-test this. It's simply not possible. You can pretend to split-test it, but it won't be a valid test, and you won't learn what you think you're learning.

            Some people think the principle of testing things instead of trying to guess at them is the important thing, but testing badly is sometimes worse than not testing.
            "Quoted for truth", as they say.

            Caliban, without trying in any way to detract from your entirely correct, perceptive and accurate point as it relates to launches, call me a skepchick but I would venture to suggest that - for different reasons under different circumstances - what you've said is also true of at least 75% (and maybe 95%) of all the so-called split-testing that internet marketers do.

            Their "results" almost invariably say more about the way they tested than they do about any underlying realities.

            Testing badly is worse than not testing. At least not testing retains some degree of uncertainty, which can have some real value, rather than "pretending to know".
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  • Profile picture of the author fated82
    I will delay the launch until I have a 'HOT' product. Can your product guarantee someone will quit smoking in 30 days or 60 days? If not, it will be hard to sell.

    Also, have you done your homework on the number of people who want to quit smoking? If the number is low, you will have problem getting buyers.

    Also, plan for a back-end product. Especially so if you do not have a list to sell to. Keep the price low ($27), build a list and sell from back end.
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  • Profile picture of the author copycashvalve
    Also keep in mind you can charge a premium with this product because it has HIGH intrinsic value. If you could offer someone something at 67$ that would rid them of ever smoking again and explain to them how much more value they would be rewarding themselves with by never having to buy another pack of cigarettes again, I think justifies the price or even a higher premium price!

    You need to do this with better bullet points! You have a great story in your ad but I felt that the bullet points were weak. You need more CURIOSITY and you need more BLINDNESS in your benefits, like -- A little known secret that most hypnosis experts aren't taking advantage of that did, x and y in this amount of time from this interview. It's specific, leaves curiosity and a little blindness that in order to get the exact steps, you'll need to go and click on that belcher button!

    What that does is leave your prospect, wondering what the hell it is that he or she needs to be doing that this expert is teaching everyone!

    So it all boils down to how much more value the prospect will be gaining by you charging a premium price. If you honestly feel that it's worth 67$, test it like everyone else is suggesting.

    All the best!

    Ross
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