What’s it about?
With his Product Launch Formula, Jeff Walker has changed the way we sell. In his book Launch, he describes his tried-and-tested strategy for selling products online and establishing a business that’s almost guaranteed to bring success.
About the author:
Jeff Walker is an entrepreneur who started his first online business in 1996, with little money to support himself and his family. Since then, he has founded several businesses that have made him a multimillionaire. As the founder and CEO of Internet Alchemy, Walker teaches others the secrets to his incredible success.
Lose your day job, or risk being unhappy for the rest of your life:
If your job doesn’t boost your spirit with motivation to get out of bed each morning, it’s about time you quit. The job you want to keep practicing for a long time should provide you with a sense of fulfillment alongside maintaining your well-being.
Most people work to survive, so they sacrifice their happiness in the way. You can avoid being one of those people right now. You have the power to survive and enjoy your job at the same time, and this piece will help you do so.
The talented writer, Jeff Walker, put so much effort to study and create forever-lasting principles that you will get to know through this summary. Those principles guide an individual on how to build a multi-million-dollar enterprise of a business from scratch as long as he commits and works hard.
“If you want something to happen, you have to make people able, and you have to make them want to.”-Dr. Steve Kerr
You should fully understand the basic principles of starting a business online before trying to sell products:
Jeff walker, like a lot of people, never really got interested in the corporate business field. He simply just didn’t fit in and struggled with concentrating on work. He was puzzled about his situation, and after deep thinking, he decided to quit his day job. This led him to stay at home taking care of the kids while relying on his wife to take care of the financial problems – which drained her. He was unhappy, so he took a giant bold leap.
Jeff worked from home on his computer and used his knowledge of the financial market to build an online business that will soon change his life and others. He put together a newsletter that had tips on making the most out of the investment market. Minutes after the business launch time, he made his 1st sale, and his journey began with what seemed like endless possibilities.
Quit your day job if it doesn’t make you happy, look for the things you love to do, and make a career out of it.
A few months later, Jeff realized that the methods he presented in the newsletter worked, so he developed his formula – product lunch formula i.e., PLF. The formula is about how to launch new products and generate enough income in a short time. His method worked so well that he generated up to 20 million dollars.
One of the most vital aspects of the PLF is to develop an email list – a responsive and organized one. Email lists permit you to set priorities and reach your target audience easier and faster. It also allows you to contact subscribers directly.
If you know how to use them, email lists can be 100 times more effective than social media. You should create good content and figure out a way to build free attention-capturing incentives. They could be a discount or maybe an open book.
You should keep interacting with readers all the time and be open to feedback. You can link your email list to your subscribers’ social accounts to open up to partnerships and interests from outsiders. Email lists provide you with sufficient info about your customers to personalize ads, depending on their preference. Make more content to attract your old customers to come back for more.
Being aware of what triggers people helps you make more efficient decisions:
If you want to achieve your dream business, you need to ask yourself why you want to start this business in the first place. Knowing this is a starting point to find a target audience and analyze what triggers them. You’ll consider things like what the people need, why and when they need it, its price, etc.
Many factors attract people like:
- Reciprocity: people naturally tend to give back to a good gesture. If you offer your customers premium service, they’re more likely to give you something in return. That means the better content you provide; the more people will enjoy buying your products.
- Authority: you must authorize yourself. This is when you develop an identity for the product that will make it stand out and be respected. The more authorized you look, the better people will hear out your ideas.
- Trust: be an honorable and true person so that you maintain a better mutual relationship with your customers. They need to know that they can trust you to please them with what you offer.
- Community: build or join a community that would be interested in hearing out your ideas.
- Anticipation: attract people’s attention by developing something they can anticipate. Present a preview or premium content of your next business deal to interest people.
- Conversation: listen more than speak. People, in general, love being heard. So, figure out how to interact with your customers by reading their emails or replying to their feedback. Don’t ignore their comments and suggestions. Involve them in your Empire.
- Social proof: use testimonies, reviews, and online reputation in your product. When people see an excellent reputation, they go after it with trust and respect.
Your pre-launch content is where you need to start building up your success:
PLF’s third method is a sales letter. This is a long piece of document that mostly focuses on convincing readers about why they should purchase your product. It has to have rich content, and it should outline your plans clearly.
If you are developing a sales letter for a pre-release product, it is better to divide it and post it regularly. This helps build feedback, and you’ll know if people are interested in your ideas or not pre-hand.
You can capture a possible customer’s attention by giving out a page of this sales letter each day. The ideal sales letters are made up of 10 pages, which you can send for ten days – a page a day. Each page should have enough info to capture the reader and attract him.
On the first day, your PLC – pre-launch content – should introduce your plan. On the third day, release the plan, framework, the blueprint, and how the buyers will gain. The last part of the PLC, you should send in the last days. It should conclude your argument and open a door for suggestions and questions from the readers.
Your potential customers must always be engaged in your business, or they’ll lose interest. If you are unable to write a sales letter yourself, hire a professional to do the work.
The level of success you’ll reach in the future depends on your first impression on customers:
Now that you’ve created a product, developed a great reputation, and build a successful pre-launch framework, it’s time to get everything going and sell the hell out of your wares.
The first step is to go through every feature available in your product and run a comprehensive test to ensure everything is good to go. This includes the cart, order processing, and transaction page. Once you’ve made sure everything is working fine, move to the next step, which creates a sense of urgency for readers. The way you package your product should interest the customer right away. For instance, create an exclusive offer for a limited time like the first 50 people to purchase, get a 10% discount. This sense of urgency is great because it acts as an incentive for people to purchase the product.
Once your product gets its first sale, you are now in business, and you should focus solely on how to do better.
Put together a newsletter where you thank your customers for buying your product and leave room for comments and feedback. You have to be aware that not all the feedback will be positive. Some people try to put you and your product down, but others give out the negativities to improve. All you need to do is to have full trust in your work and always be open to improvement.
Make sure to be punctual when it comes to customers receiving the products they buy.
Prepare yourself for a continually growing subscribers’ platform and always update your servers to accommodate an increasing number of people.
Avoid having dull relationships with your subscribers. You can post holiday wishes or make a joke now and then to keep your business from drying out.
You can sell before even developing a product:
There are a lot of doors open for you to get in and be successful. Take Seed Launch, for example. Seed Launch is a business technique that allows you to sell a product from an idea that is yet to exist. That doesn’t mean you don’t need to prepare and outline – you should have an initial plan ready; the only thing is that the subsequent plan will come after you’ve made sales.
If you want to use the Seed Launch technique, you have to approach it creatively and smartly.
First, compile a small list of individuals who can potentially get interested in something you have the authority over. Study the list, go through social networks, and figure out what this group of people want and why they want it. After you’ve established what interests them, build a plan to get them on board with your ideas and why they should subscribe to your plan.
Your firsts session with potential customers is essential because it acts as the basis for which the subsequent sessions will operate. Be convincing and make sure they continue their subscription.
No matter how you do it, try your best to succeed with what you love to do. Money is not enough motive to spend your life doing a job. You want to feel fulfilled and happy at the end of the day, and that doesn’t happen if you spend your time behind a desk doing something you have no passion for. Business is not for everyone, but if you are passionate about it, there are many ways to pursue it and succeed.
“There is little success where there is little laughter.”-Andrew Carnegie