Launching for the first time can be a real high. The adrenaline is pumping through your body, and you're excited about starting something new. You give it all you've got.
While the results were good and you learned a lot in your first launch, you might feel icky about relaunching the same program…
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I get a lot of questions about relaunching:
- Can you relaunch the same program or product?
- How much should you charge for a relaunch?
- Can you change the prices and bonuses?
- What do with numbers, targets, and the timeline?
So in this week's episode, I will teach you everything you need to know about relaunching the same product or service you've been offering in the past in only 5 steps.
Step 1: Reset
The very first thing you need to do when relaunching your offer is to reset.
If you haven't launched your first product yet, check out episode #84 of the FastForwardAmy Show on launching your first offer!
In your previous launch, you've done it all: sent emails, highlighted the benefits and the transformation of your offer, gone live, and created a bunch of awesome content.
You're about to start your launch again, and when relaunching it's so damn easy to build on top of your previous launch.
STOP right there…
For any relaunch (or new launch), don't take anything as a given. Go back to the drawing board.
Remember, for every relaunch; you have new cold people in your audience who don't know what you did last time.
To turn them into hot leads, create free valuable content that already benefits your ideal client. If people already learned something from you in the past, they are much more likely to come back and buy.
And when they do come back to buy, ALWAYS be honest and transparent about prices and bonuses. Don't pretend to have a once-in-a-lifetime bonus and then relaunch the same bonus two weeks later. Don't launch-block yourself!
Make a mind map about your ideal clients and crawl inside their heads. Aks yourself:
- What is the transformation?
- What are your ideal clients missing, and how can you serve them?
- Do they believe you(r value), and what can you teach them?
- Do they believe in themselves?
Use content and strategies that worked from your previous launch, optimize them, and use everything you've got to its fullest potential in your next launch.
Step 2: Set a target
If you had 20 sales the last time you launched, aim for 30 or 100 this time. Be ambitious when you set your targets.
Set a target that makes you (a little bit) scared, but also makes you keep pushing towards achieving your goal.
Try to not be unrealistic and set a target that makes you give up before you even get started, or that requires you to set outrageous prices for your product or service.
TIP: Focus on your happy client target instead of a monetary target alone.
When I started fitness coaching, I set a monetary target of making €800/month. To hit this target, I needed to get 6 clients/week, so I transformed my target into a very specific goal: to have 3 clients on Tuesdays, and 3 clients on Thursdays.
I like to 3x or 10x my goals. Remember, if you aim high, you're going to end up higher, too.
Step 3: Determine your traffic number
To determine your traffic number, you need to dive into the numbers from your previous launch.
- Find the conversion number from your last launch. Do the math and calculate how many leads were converted into paying clients. For example, last time, we had 600 people on the waitlist for the pre-order of the Business Freedom Elevator™️. Out of these 600 people, 100 turned into clients. Using this formula, I get a conversation rate of 16,67% for the previous BFE™️ launch.
2. Set a target for your next launch, and calculate how big your pool of potential clients should be based on the previous launch stats. To find out, we need to look at the conversation rate from the previous launch, and use it to calculate our target audience to match our launchtarget. When we want to double the number to 200 clients for our BFE™, we need to know how much traffic we need. To find out this traffic number, we look at the conversation rate from the previous launch, and use it to calculate our target audience. Continuing with the same example from above, I need to get 1200 people on our waitlist to reach the new target of 200 clients.
Traffic number = (happy client target / conversion rate) * 100
TIP: keep track of your numbers and stats for any launch. These numbers will make your life so much easier and help you better plan your next successful, profitable launch.
📕 (bookmark this tab to save these formulas for your next launch, and use them to calculate how many leads you need to hit that target you've set!) 📕
Step 4: Create your launch timeline
Whether you're relaunching or launching for the first time, you should always have a plan.
After a couple of launches, I've decided to develop my Quarterly Launch Blueprint™, a framework that divides any launch into 4 phases:
- BUILD: Get everything ready, prep your content plan, emails, visuals, podcasts, videos, …
- HYPE: Get people excited about what you have to offer, fill up the waitlist, and show behind the scenes or count down to the doors opening.
- PROVE: Make sure your content is valuable, show how much you know and what you can teach your clients.
- PERMIT: Give people permission to buy by countering objections and answering questions about your offer.
A lot of people tend to focus on providing value only (phase 3). They forget to prep (phase 1), fail to show their behind the scenes (phase 2), and forget to handle objections (phase 4).
If someone is telling you
- I'm interested, but I don't have the money,
- I'm interested, but I don't have time.
These objections are buying signals, so go into a conversation with the ones objecting.
In 80% of the cases, objections about money aren't really linked to the cost of what you're offering, but rather to (dis)belief or value.
Check out some previous episodes on launching where I dive a lot more into creating your launch timeline:
- My Golden Launch Rules (episode 84).
- How We Closed 1 Million in Sales With 0 Ad Budget (episode 50).
Want to dive deeper into each phase and take your launches to the next level?
Registrations for The Launch Gamebook are open now! This course contains everything I’ve learned and implemented from my previous launches (including my five-phase launch blueprint) and will teach you the launch mindset, how to plan your content, and much more. This course is a highly valuable resource that could make all the difference in your next launch — all you have to do is click the link to register. Currently you get a €500 Early Bird discount and bonuses worth €2520!
Step 5: Stick to your launch timeline
So many of us love making plans, but ultimately we end up not following through.
In order for the QLBP™ to work, you've got to STICK to your timeline.
Maybe you don't have the time to set up a fancy email or create beautiful slides for your webinar.
Don't sweat it. Just send out the email. Host a webinar without slides.
The trick is to always follow the timeline, even when what you had planned to do isn't perfect.
Once you have your decisions in place, take action on them every day and stick to your timeline.
Make sure you've got the baseline covered, you can do a webinar without slides, but not without an audience!
Remember to take imperfect action and every time you launch, you'll learn something new you can optimize for your next launch.
BONUS: Track ‘lessons learned' and ‘optimize' for future launches
On my project board, I have a card for lessons learned and items I want to optimize for my next launch.
Every time I notice an event, a content piece or an email is doing well (the timing of our emails, specific testimonials, length of IG posts, content topics,…) I write it down, and whatever doesn't work well, I write down, too.
Next time we launch, we implement these learnings, and you can do the same.
That's how you GROW, and that's how you make sure you grow exponentially.
Take your learnings into account and run with them, so you can move forward and keep on improving.
Good luck relaunching your offer, I'm cheering you on from the sidelines!
Watch this episode on YouTube, or listen via iTunes, Spotify, or wherever you get your podcasts, and search for episode 98 of The FastForwardAmy Show.
PS Getting excited for your next launch? Check out my free training The Launch Blueprint: 5 Steps to Launch Your Next Big Thing to learn how to make it a complete success! Register for FREE via this link: www.fastforwardamy.com/launchwebinar
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