Back in August of this year I wrote 5 lessons learned from a Failed Product Launch discussing how I launched a product and how it bombed big time, except it didn't bomb, I learned so many valuable lessons from it.
Today I want to write about a successful product launch 'How to Become an Advanced Early Riser' which was launched last month on October 14th.
Some numbers first
To date there have been 143 copies of 'How to Become an Advanced Early Riser' sold.
The gross sales of this have been $2,625 to date
Partner payments have been $460 to date
Money spent on design, website, and advertising – $450
7 Returns – $105
Net profit to date – $1,610
That's a net profit of $1,610 in 21 days. This is my best month to date with regards to selling my own products. Quite a difference from the loss I made in the Alter Your Jacket program.
I learned a lot about writing, collaborating and launching a product and wanted to share it with you today.
1. It's all about the readers
Before I even launched this I sent an email to the subscribers of CYT asking them what product they would be interested in the most, and gave them a choice of 8 guide titles and an option to add their own title. By far 'How to Become an Advanced Early Riser' came out on top, with 25% of subscribers voting for it.
Had it not been for the CYT subscribers I wouldn't have written the guide. The lesson i learned from the last launch was; what I think is a great idea is not necessarily what the market or my subscribers will think is a great idea. Sometimes we can get wrapped up in our own ideas that it's sometimes easy to forget who may or may not buy the product in the first place.
2. Be part of a great team
Had it not been for my designer, my subscribers, my partners and other bloggers and authors who were willing to help me, there is no way this would have been a success.
Talking with everyone involved in the process of making the guide and promoting the guide was essential in it becoming a relative success. Answering questions, getting ideas, getting feedback, partners pointing out errors in the sales page etc was crucial for this to work. Everybody involved was a great help throughout the whole process, and they didn't do it because of any monetary gain, they did it to help out a friend who they thought had a good idea and the guide might benefit the readers of their own blogs.
3. Keep focused
The self talk in writing a guide like this can be overwhelming sometimes; 'Is it going to work', 'the last product failed', 'do readers really buy products like this' 'is it over-priced', 'is it underpriced'. The main thing to do is to listen to the negative self talk and let the thoughts just drift through your mind, acknowledge and let go.
Keeping focused on the outcome of what the product can do for someone is crucial. I had an avatar in my head of my ideal buyer. Someone who was always sleeping in, disorganized, thoughts all over the place, stressed etc and I kept of thinking of them as I was writing the guide and getting it out there.
It's hard to keep focused when you're outside your comfort zone, but forcing yourself has the benefit of helping yourself become stronger minded, more focused, and more confident.
4. Take constructive criticism the way it is meant
After the guide was released and sales were strong, you start to get a few returns for whatever reason. Some readers said, there were too many spelling errors, some thought it just wasn't for them. With the returns I learned why they had returned it and rectified anything I could fix.
I always replied to an email asking for a refund as soon as possible, refunded the money immediately and asked if there was anything I could have done differently, if they hadn't already told me. Customer service is important, but more important is to not get attached to the product and believe it doesn't have flaws. My perception of the guide is different from a readers perception who has paid good money, so listen to feedback, fix it and then let it go.
5. Detach yourself from your product
It's easy to get attached to a product you have produced, it's almost like a piece of art ; you spend weeks creating it, and want everyone to admire it. As soon as you send it out into the world, let it go and move on to your next piece of work. Don't forget about it, don't stop promoting it, just detach yourself and think ahead to your next product. This is a business, and it's not long before you and your product is forgotten. Keep re-inventing yourself.
After you launch it's great to take a break for a few days and come back with eyes anew. that way you can make your product better, whilst working on a new product. there's always something you can do to make it better.
Well it's something a little different for me as I am currently asking the question:
Would anybody be interested in a guide which shows how I accidentally discovered a way to lose at least 8 pounds in a week, without changing your diet, or exercising?
I am asking you as a reader, subscriber, and a friend. Until I get some feedback, I will hang fire and look to see if there is a market for this.
It wasn't on my list of products to write, but about six weeks ago I really did accidentally discover a way to lose at least eight pounds in weight, to date I have lost 12 pounds in as many days, and it's so amazingly simple.
As ever I want to thank all the readers, subscribers of CYT, friends, partners, interviewees for supporting me along the journey and I am glad that you are part of my life.