This is isn't my opinion alone but that shared in private to me by some of the most well known marketers around.
Product launches are dying and they are NO way to build an ongoing relationship with your list.
This is what's wrong with product launches... (don't worry, I'm aware of the initial benefits which I will describe later, but I'm talking here about building a long term viable business).
- Launches turn off the vast majority of your list. Plain and simple. We all know the ridiculous unsubscribe rates of some of the gurus. Sure they don't care because they refill their list with new candidates the next launch around, but the issue here is that there is little real client loyalty long term.
- I hope others are honest about this, but let's face it most so called PLs have 50% refund rates, sometimes even more. I was saddened to hear a particular "expert" flaunt his $3m takijng from a recent launch, when I was aware he had a 70% (no, that's NOT a mistake) refund rate!
- Buyers are becoming more aware of this formula and turn more and more to forums like this and friends to discuss the merits of a program before joining. As a result, the so called "gurus" are having a harder time than ever with their launches. Don't believe me, notice how many are moving away into different strategies or even disappearing altogether. I don't want to names drop, but I think you see this with your own eyes.
- Worst of all, PLs do NOT help you build a real long term business. What happens when your launch is done? Are you still making money? Usually, the only way a marketer makes more money is to do another launch down the road or promote other peoples products (usually forced upon him/her by obligations made to get affiliates on board the initial launch).
Now don't get me wrong...
I know 1st hand just how much money you can make upfront in a launch (minus affiliate fees/set up fees/payment fees etc -you usually bank around 35% of monies generated after REFUNDS!).
I also know you can build an initial list.
But, that list will sooner rather later run dry. I know several massive list owners (no names, but you know of them as well) who are getting ever diminishing returns on their list. Some of them have severe business problems, not that they would admit it.
I also have friends (again well known marketers) who have left the entire PL modal and wont promote others' products at all.
I think that's a huge mistake as there is some great stuff out there, but I understand why they are now doing this.
Let's have a frank conversation here about this...
I look forward to hearing from some gutsy marketers who are willing to admit the changes they are making in their business moving WELL away from the product launch modal.
I say gutsy, because I still see several well known names continue to teach what they know no longer works for them for their long term business interests.
I know many marketers are still benefiting from product launches. They haven't yet seen the lower returns that are INHERENTLY destined to occur.
I'm sure some of them will defend the strategy, but I's also like to hear from more advanced marketers who have seen with their own eyes the long term problems associated with this approach.
(Other strategies are working BETTER than ever, but that's not our point of discussion here)