Updated: Apr 23
Are you wondering whether or not a launch is the right strategy for you or your business? If so, then this blog post is for you. In today's post, we're going to talk all about launch marketing–what it is, who should be launching, and why you should plan a launch if you are entering a new product or a new service into the marketplace.
I know there is a lot of hoopla out here in these internet streets about launching. Some things that are being said are good, some of the things that are being said are bad, and you might just be in the middle asking yourself what does this even mean? Does it apply to me? And should I even be thinking about launching? Am I even ready to be launching a product or a service or a new business? You might be sitting there thinking that it's a scam or thinking that you need to wait until you have more followers or until you have a larger audience. Before you make the decision, I want you to read this post and learn really what a launch is and how it could benefit your business.
What is launching?
First what actually is launching? People like to use the term launching and marketing interchangeably, but they are actually two very different things. In fact, launching is a strategy of marketing. If you think of marketing as the umbrella, launching is actually up under it as one of the strategies that you can use to market your business. The whole purpose of launching is to enter a new product or service into the marketplace or to reenter a product or service into the marketplace. You can also leverage launching to build brand awareness or visibility to your business. (I talk a lot about this in Profitable People. You can snag that here.)
Launching is all about building momentum with your audience. It is designed as a campaign to build excitement around what is to get your audience ready with their debit card in hand to purchase when that offer drops. Because of a lot of the misinformation out there about launching, it can feel like a very overwhelming process and there are some parts of it that can be challenging. But there are strategies that you can use to profitably plan a launch without overwhelm.
Do I need to launch?
The big question is do you even need to launch? Is launching something that you absolutely have to do? The answer is actually, no. You do not have to launch, but I do recommend it, specifically if you are a new or a beginning entrepreneur, someone who has had their business for about one to three years, I definitely recommend incorporating a launch into your market strategy.
The very first thing that I want to make clear is that your launch does not only have to focus on driving revenue. There can be two main goals for your launch, whether it is to drive revenue or to build brand awareness and visibility. You want to be clear about what the goal for your launch is going to be. If you are a new or beginning entrepreneur and you do not have a large audience, it may be beneficial for you to launch your business with the expectation of growing more brand awareness and more visibility through outlets like a podcast tour, guest publications, or news features, media features, things like that. You really want to leverage those strategies to grow your audience first before you launch to them. There is no point in launching to crickets!
Leverage strategies like podcast tours or guest publications to grow your audience before you launch. There's no point in launching to crickets!
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Also, launching is really good for new entrepreneurs, specifically those who have been in business for one to three years because it helps you get clear on your messaging and on your marketing strategy while you are also driving results for your business and generating income. Launching helps you test out this messaging, so when it's time for you to develop an evergreen marketing strategy or to leverage earned or paid media in your business, the messaging that you are using will actually work for you. And you will know this because you've been able to test it and measure the results and the data. Investing in a good and profitable launch strategy can only benefit your business time and time and time again.
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What are the benefits of launching?
We have gone over what a launch is. We've differentiated between launching and between marketing. I'm sure you're wondering what are even the benefits of launching? I really want to dive into this because I really know and believe that if you are able to plan a successful launch, it can do nothing but benefit your business and help grow your audience, your brand awareness, and visibility online.
One of the key benefits of launching your product or your service, or relaunching your product or your service, is that it provides a cash injection to your business. The reason that this cash is important is that it allows you to make investments in your business, it allows you to grow your inventory, it allows you to invest in team members and teammates, things like that to ensure that your launches only get more and more efficient, and more and more optimized as the time goes on.
Another business benefit of launching is that it helps you to grow your audience size. So if you've ever launched and you look at what your audience size was before you launch and what your audience size is after you launch, nine times out of 10, what you'll see is that your audience actually grows throughout your launch. The reason for this is because you're putting out so much content, you're educating your audience, you're connecting with them on a deeper level than what you may be doing in your day-to-day business regimen. They are now sharing that content, they're putting it in their stories, they're engaging with it. And that engagement is building a trust factor.
Launching also allows you and your business to penetrate other areas where your ideal clients may be that you may not have even ever connected with. Growing your brand awareness and your brand visibility is always important because the more people who know your business, who like your business, who trust your business, the more potential customers that you have, the more money you have the ability to make.
Lastly, the biggest benefit that I have found for launching it allows you to systemize your marketing. It takes the guesswork out of marketing. No more "what should I talk about online this month?" or "what should I be promoting?" or "how should I be engaging with my audience online?" And it gives you a framework for your entire year or for your entire quarter to say this is a product that I'm going to promote. This is how long I'm going to promote it. And when you're not promoting a product, you are able to take the pressure off and just focus on engaging with your audience, on expanding your brand awareness and your brand visibility. This can do nothing but serve you in the long term.
Can I be successful without launching?
Can you have a successful business if you never launch? The answer is, hell yes! But in order for you to have a consistent business and to be able to do this without launching, you are really going to need to focus on developing a clear, consistent and converting messaging and marketing strategy. This is where you want to really focus on how are you going to consistently generate leads in your business. That could be through earned media, which would be like going on podcasts, doing tours, doing media features, things like that. Or through paid media, which would be where you are leveraging Facebook ads, or paying influencers to promote your product, or to promote your service. You can also leverage things like SEO or blog posts to consistently generate leads. YouTube is also a really excellent strategy for generating leads if you are not going to launch. You want to make sure that you have some organic, some earned and some paid media strategies in place to drive those leads if that is the path that you decide not to take.
I want to be clear that I think it's best for new entrepreneurs to launch because you don't have an audience yet. You are trying to grow your audience. If you do not have a strategy in place that focuses on driving as many people, as many potential clients to the top of your funnel as possible, then it's all moot. This is where our businesses fall off because we're not making enough money. We're not seeing enough leads. We're not having enough revenue in our business because we're not attracting enough of the right people. And that's why launching, especially if you are a new or a beginning entrepreneur, is so important.
What if launching isn't for me?
In the event that you decide that launching is not for you, some other ways to grow your business without launching would include increasing your visibility. This could mean leveraging podcasts and other opportunities, complementing your platforms, all of those things, to get the word out about your business and to connect with more of your ideal clients.
You also could leverage paid strategies like purchasing Facebook ads or leveraging influencers to get them to promote your business or product on your behalf in exchange for money.
Lastly, a strategy that you could leverage is incorporating a loyalty program or an affiliate marketing program, or some kind of recurring revenue stream into your business. That way you're able to forecast your revenue months out and you're able to incentivize your current clients and customers to promote your business or product. They will receive a commission on their behalf for just automatically recommending something that they already like and enjoy.
In conclusion, if you are a new or a beginning entrepreneur, I 100% recommend that you launch your business or your product, or reenter your product into the marketplace through a launch. However, if you decide that that is not what you want to do, it is okay. There are plenty of other strategies you can leverage to market your business consistently and drive leads and revenue to your business, even if you decide not to launch. So please keep that in mind. And in the event that you need a little help planning your next launch, please click here and apply to work with me. Or head on over to my shop and get the Launch Made Simple template. You can get 15% off if you are a first-time customer.
What is the number one thing that is holding you back from launching your product, or your service, or your business? Let me know in the comments and let's chat all about it 🚀
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