Product launch formula
In the past few years, Product Launch Formula (PLF) has become perhaps the best strategy for launching and releasing products online. Anyone who is anyone will have learned the tactics and strategies within it to maximize their product sales when they release a product to the world. But what about it gives it that appeal and makes people want to buy products before they are even available?
Well, PLF creator Jeff Walker noticed a trend with the movie industry. He noticed how they released the movies and how some were having huge successes at the Box Office, while others were not. Then by studying human psychology and behaviours he noticed certain traits that humans have when things were presented to them in a certain way. This study lead to what is now called Product Launch Formula.
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But, what can it do for you?
Product Launch Formula actually gives you the structure for you to systematically release pieces of content about your product and the problems that people have so that people not only get a taster for your product, but actually begin to want it the more they learn about it. One strategy is to give them Results In Advance, where you walk them through one small part of the journey they will take when they have your product. Another strategy is give them the story of how you came to create the product, the problems it solves and the pain people face without having that product. There are a number of strategies within it, all of which can be combined to create a huge buzz about your product.
But the main element that Product Launch Formula uses is creating an Event. Creating an event means setting a date where you launch your product, a date that everyone will be anticipating getting their hands on what you have to sell. A great example of this is the iPhone, or almost any product released by Apple. They are masters of creating events around their products and always have thousands of people in line worldwide come launch day. In the build up to that day, they have released information about that product to the press and the media so that they can give it to the world and they get hungry for it. This is why the line up almost days before the product is available, so they can be one of the first to get their hands on the product. Product Launch Formula does the same with your product with the right execution.
Product launch formula