Updated: Jul 5, 2021
Launches are a lot.
In every sense of the word. They can be complicated, convoluted, and soul-sapping. Or they can be wildly profitable, revenue-building machines.
To the uninitiated, the sheer number of moving parts can be mind-boggling. But, every one of those moving parts represents both an opportunity and a potential pothole.
A-Z Launches is a glossary of marketing terms to help you make sense of launches so you can cash in and avoid a launch catastrophe.
P.S. Entries in purple are things you should be considering as you plan your next launch!
When you test two variations of headlines, subject lines, landing pages, ads etc. against each other to see which one converts the best. Never make assumptions about what’s going to work and what’s not!
Ads are essential for each segment of your launch.
First, you'll use ads to attract people to your webinar, then ads to drive sales once the cart-open period has begun, and then cart close ads during the final stretch. You’ll need ad copy, images, and someone to set up each ad.
An affiliate is someone who earns a commission by promoting your products. Affiliates are a great way to boost your reach. You can ask past students/members or influencers to promote your program in exchange for a commission on each sale. Normally, you’d provide images, copy, and maybe even templates for your affiliates to use.
Automations are every business owner’s best friend, but in a launch, they’re your lifeline. With automations, you invest the time in setup upfront, then sit back and reap the rewards so you aren’t manually trying to tag webinar attendees, or moving each registrant one by one into your sales sequence. If Zapier isn’t your best friend yet, it soon will be.
Does your target audience have the ability to pay your listed price?
What are people walking away with when they buy your product or program? We’re not talking about the different bells and whistles your offer has, but rather, the kind of impact your offer will have.
People don’t want a four-part money management system; they want the freedom to live their best life, buy their kids whatever they want, and take exotic holidays.
What bonuses are you offering? Think of bonuses as sweetening the deal. Consider including Fast-Action Bonuses (aka bonuses that expire if you don’t buy the offer within a set time period).
The percentage of people who pop onto your landing page or site and then leave without checking any other pages out. In a launch, your bounce rate is inversely proportional to your conversion rate.
Is your budget for your launch realistic? Always put aside at least 30% more than you think you’re going to need. If you don’t end up using it, great, more money in the bank. If you do end up needing it, at least you weren’t caught with your pants down.
The one action you want a lead to take at each stage, e.g. register for your webinar or click through to your sales page. Make it clear, catchy, and impossible to miss.
The final push before you stop accepting sales. The duration of the Cart Close period varies from launch strategy to strategy, but usually refers to the last 48 hours before you stop accepting sales.
The action you want your audience to take. A campaign is made up of multiple conversions. For example, signing up your lead magnet, registering for your webinar, clicking through to your sales page, and finally purchasing your offer.
Marketers often position conversion as an event. It isn’t. Conversion is a process. And it begins long before a prospect is hovering over a Buy button. You need to start sowing the seeds for a successful sale early.
We use a three-pronged approach that combines data and your competitive advantage with a healthy dollop of personality to craft copy that cuts through the noise, speaks to your audience’s deepest struggles, and positions you as the solution.
The proportion of people who’ve seen your emails/ads/sales page/landing page/webinar and then gone on to take the desired action.
Conversion Rate Optimization
Fine-tuning your sales pages, landing pages, ads, and other launch assets to maximize conversion.
The art and science of crafting copy that taps into psychology, decision science, and behavioural economics to drive people towards a purchase. Copywriting is the foundation of conversion.
Cost Per Acquisition
The total cost of finding a lead and turning them into a paying customer.
Or click-through-rate. The proportion of people who’ve seen your ads /emails/landing page and then clicked the link.
Where is your customer at right now? What behavior needs to change for them to purchase your program?
Set aside time post-launch to go over all the stats, as well as your systems and processes. This is easily the most important step to ensure that your next launch does even better.
When your prospect is overwhelmed by the number of options presented. Keep it simple and stick to one campaign goal, otherwise you risk leading your prospects into that dark place between analysis paralysis and decision fatigue.
Does your offer speak to your audience’s core demands/needs?
A lower-priced lite offer to pitch to customers who couldn’t buy your full offer.
An email sequence is a set of automated emails sent out to your list designed to nudge your customer from one point in their journey to the next.
A typical launch includes the following sequences:
Main Launch Sequence
Also known as Empathy Marketing. This is the art of tapping into the emotional state of your target audience and making them feel heard, aligning your offers with their specific needs, and engaging with them in an authentic way.
An evergreen sales funnel is just your regular sales funnel running on autopilot. It runs in the background and strategically sells your courses everyday, all year-round, to your audience. Plus side: you don’t have to do any daily maintenance!
Fast-Action Bonuses are offers only available to people who buy within a set time period. For example, if you’re doing live webinars, then a bonus that’s only available till the end of the webinar is a Fast-Action Bonus. They’re a great way to build urgency.
How are you presenting purchasing decisions? People are going to react differently depending on how you’ve framed the choice. $1 a day feels more palatable than $365/year. It’s why the whole “it’s cheaper than your daily latte” line is so popular.
Friction kills conversion. Watch out for inefficiencies that irritate the customer and slow down (or put a stop to) the buying process. Examples include things like glitchy payment systems, poor layouts, incomplete information, slow responses to inquiries, poor customer service, etc.
A sales funnel is the marketing jargon for the journey potential customers go through on their way to purchase.
SMART goals are a cliche, but they really do matter. Set time out as you’re planning your launch and map out goals that are Specific, Measureable, Actionable, Realistic, and Timely.
An image or a video that lets people see themselves using your offer. Think of it as a quick peek into their future.
An ideal client is someone who needs your offer to solve the most pressing issues in their life/business. They feel aligned with your brand and your messaging, and everything about your business speaks to them on a deeper level.
A deliberate break in a pattern to shake things up and make your audience pay attention.
Incentives for Change
What reasons does your audience have to want to change?
Planning a launch is a lot like planning a novel. Your user is the hero (or heroine), and needs to grow as they progress through the funnel.
Think of your nurture sequences as your training montages complete with Eye of the Tiger playing in the background. Your sales sequences are when the battle’s picking up, and your sales page is the final showdown.
You’ve got to build urgency and emotional impact throughout the funnel for the ending to be effective.
What information crucial to decision-making is your audience missing?
A landing page is a stand-alone page built for your launch with one goal and one call-to-action.
A lead is someone who opted into your content by providing their email or other contact info.
Or lead generation. This is how you attract qualified leads.
Lead Nurturing Lead nurturing provides leads with value, showcases your authority, builds trust, and helps take them to the next stage of the customer journey. Think of it as a relationship-building process with your list.
How does your course or program fit into their lifestyle?
Consistency of messaging across all your sales copy. You never want a prospect feeling confused or disoriented during the process. Keep drilling on your one big promise.
A part of a copywriter’s research toolkit. This type of research allows copywriters to find the exact language your ideal clients are using to articulate their struggles. Solid research is the cornerstone of conversion.
Education and providing value to nudge your audience along the customer journey. Blog content, webinars, social media posts, newsletters, and email sequences can all be used to nurture your audience.
The little nagging questions or reservations that are stopping prospects from becoming customers.
The percentage of people who open your emails. Split test your emails with different subject lines to maximize your open rates.
What your audience is losing out on by choosing one option or the other. For example, what’s the opportunity cost of not buying your product?
A pain point is a specific problem or challenge that your target audience is experiencing. The goal of your product is to alleviate those pain points, and the goal of your copy is to show prospective customers how.
Perceived value is the value of your product in your customer’s eyes. Your goal is always to make the perceived value look incredibly high relative to the actual cost.
Or Product Launch Formula is a type of launch popularised by Jeff Walker. Jeff popularised the idea of a Pre-Pre-Launch (aka when you survey your audience) and then nurturing your audience during the Pre-Launch period. If you’re interested, check out his book, Launch.
The period immediately after your launch. This is when you review what worked, what didn’t, how many refunds you had, and analyze your findings for next time.
Your pre-launch period is the time you spend nurturing your audience before the launch starts. Ideally, you should have a stable of content that you can pull from and strategically use to prime your audience pre-launch.
What questions are you asked most often? And how do you address them throughout your launch? The questions you’re asked most often give you insight into what your customers’ biggest objections are.
How relevant is your offer to their specific pain points? Is the connection between your offer and their pain points immediately clear? The lower the relevance, the less likely you are to convert users.
There is no guesswork in marketing. By the time you’re getting ready to launch, you should already be done with most of the research. At its core, research is about getting into the head of your target audience and understanding what makes them tick. Review mining, customer interviews, and qualitative surveys are great ways of getting voice-of-customer data.
A refund policy, testimonials, stats, numbers, and social proof go a long way in minimizing the risk your audience perceives.
Or Return on Investment. It’s a measure of what you put in versus the pay-off aka ‘was this worth what I spent on it?’
Remember, Scarce = Sales
One of the easiest ways to capture a small segment of the list at a higher price is to build exclusivity into the offer. Having a limited number of spots or time constraints automatically builds scarcity into the offer, which in turn raises the perceived value.
Dividing your audience or your market based on certain factors. This allows you to only send them marketing material relevant to their specific pain points, which in turn helps you optimize and raise those conversion rates!
Do you have too many packages? Simpler options help avoid decision fatigue and improve conversion. When in doubt, KISS: Keep It Super Simple.
Social proof is the tendency of people to assume how good/effective/valuable something is based on how other people regard it. Social proof does a few different things. It helps build trust, mitigates risk, AND taps into FOMO.
Launches involve a ton of moving parts. Software and tech can help with some of the heavy-lifting. Here are a few options that you’re going to need:
Use testimonials generously! Get quotes from clients raving about you and your offer. Make sure to encourage them to use numbers and be as specific as possible.
Trust is crucial for any launch. Your audience has gotta believe that you’re the real deal. Establish trust by showing up being transparent, and sharing value consistently without asking for anything in return before making the ask for a sale.
Unique Campaign Positioning
Simply put, it’s the combination of the unique benefits of the offer that your campaign revolves around. Your UCP informs all aspects of your campaign messaging.
An upsell allows you to entice a customer to buy more immediately after they’ve bought your main offer. You can do this by offering potential products, add-ons, or upgrades that are related to your primary offer.
Light that fire under your audience! Use scarcity, countdown timers, and fast-action bonuses to drive your leads to take action.
Plonking people in front of a computer and watching how they interact with your landing page. This helps identify and eliminate areas of friction before they start affecting your conversion rates.