The Underdog's Guide to Launching a Winning Product

In the early 2000s, the razor industry was dominated by two major players: Gillette and Schick. 

With a combined market share of nearly 80%, these giants ruled the market with high-priced products and extensive marketing budgets...

Making it seemingly impossible for newcomers to make a dent in the industry.

At the time, razor prices were steadily increasing, and consumers were growing increasingly frustrated with the cost of shaving.

However the market seemed impenetrable for new players...

Until 2012, when an unknown startup took the internet by storm with a low-budget video.

The video was titled "Our Blades Are F***ing Great."

It opened in a warehouse where a charismatic founder took the viewer on a wild and entertaining journey...

Complete with a toddler shaving a man's head and a person in a bear suit… 

And rock-solid pitch for a razor subscription service.

The brand I’m talking about is Dollar Shave Club. 

And the impact of the video was explosive. 

Within 48 hours of the video's release, Dollar Shave Club had received over 12,000 orders, and their website even crashed due to the overwhelming influx of traffic.

To top it all off, just four years later, the company was acquired for a staggering $1 billion.

Product launches are powerful, and can literally disrupt entire markets.

That’s why in today’s newsletter I’m going to share with you my 7-Step Product Launch System.

Use it to develop and launch your next product - and create some massive waves in the world.

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Now, let's get back to my 7-Step Product Launch System.

#1 - Nail Your Product

Market research is the cornerstone of any successful product launch. 

You can have the best marketing in the world, and your launch can still flop if no one wants what you’re offering.

Start your product research by:

• Seeing what your competitors are selling

• Identifying gaps in your niche

• Conducting surveys or interviews with potential customers 

These steps provide valuable insights into your target audience, helping you understand their needs, preferences, and pain points.

This way, you can tailor your product and marketing messages to resonate deeply with your audience, ensuring a higher likelihood of success.

Once you have a thorough understanding of your target audience, it's time to focus on product development. 

Ensure that your product addresses a genuine need, provides exceptional value, and stands out from the competition. 

Here are just a few ways you can position your product:

• "New" and never seen before

• "Better" than anything you've used before

• "More Affordable" than alternatives

Once you have a concept you feel confident in, I highly recommend a small “test launch.”

This will allow you to test and validate your ideas, gather feedback, and refine your product before the full-scale launch. 

You can use the data to refine your product and craft a marketing message that resonates with your audience, ensuring a higher likelihood of success.

#2 - Build The Hype

Building anticipation and excitement before your product launch is essential.

Start by teasing your product through social media, email campaigns, and influencer collaborations.

Social media platforms like Instagram, LinkedIn, and Twitter are perfect for sharing visuals and engaging content. 

And email campaigns can be used to share updates, exclusive offers and create a lot of excitement for launch day.

Share behind-the-scenes content, sneak peeks, and countdowns to your launch date.

This helps create a sense of anticipation and excitement among your followers.

In his Product Launch Formula, launch expert Jeff Walker recommends using a "Sideways Sales Letter." 

The idea is to release a series of value-driven, educational content pieces during the pre-launch phase. 

This content should be engaging and informative, answering common questions or solving problems that your target audience faces. 

By doing this, you build trust with your audience and create a natural transition to introduce your product as the solution they've been looking for.

So when you launch, they’re there with their wallets open.

Another strategy for building pre-launch buzz is by collaborating with well-respected individuals in your niche. 

You can leverage their credibility and reach to introduce your product to a wider audience.

You can offer free access in exchange for a testimonial, or the chance of them directly promoting your product to their audience.

#3 - Collect Social Proof 

Customer testimonials and success stories are powerful tools for building trust and credibility around your product. 

By showcasing real-life experiences and results, you can demonstrate the value of your product and convince potential customers that it's worth the investment.

Social proof makes it easier for potential customers to trust your product and feel confident in their decision to purchase.

You can get testimonials from those in your test launch.

Or if you’re not doing a test launch, I highly recommend you share your product with a select number of people for free or a reduced rate in exchange for getting their testimonial or review.

#4 - Determine Your Incentives

One of the best ways to ensure your launch goes well is by creating urgency and scarcity around your product.

Not only are these effective ways to drive initial sales, they can help create buzz around your product launch and even cause it to go viral. 

One thing that I personally did with the relaunch of my updated Founder OS program was limit the number of people that could join our first new cohort.

This allowed me to devote more energy to ensuring everything was running smoothly, and also provided natural urgency and scarcity around having people join.

(Interested in joining the new Founder OS 12-Week Accelerator? You can apply to join here.)

If you don’t want to limit the amount of spots or units you offer, there are other ways you can create scarcity and urgency.

Limited-time promotions, such as exclusive deals or discounts, encourage potential customers to act quickly, increasing the likelihood of a purchase.

Make sure to use your social media channels, email campaigns, and any partnerships to make the special offer widely-known.

#5 - It’s Go Time (Launch Day)

On launch day, it's important to make a big splash and generate as much buzz as possible. 

Use all available marketing channels, including social media, email, and paid advertising, to announce your product's availability.

Be prepared to handle an influx of customer inquiries and sales, ensuring a seamless purchasing experience for your customers.

I recommend posting online multiple times a day during the launch period, and sending at least two emails a day during the launch.

For your reference, here are some of the emails I’ve used for past launches:

• Founder OS Accelerator

• Content Empire OS

• Audience OS

And while I know launch days are busy, don't forget to engage with your audience throughout the launch day. 

Respond to comments and questions on social media and email, address customer concerns, and thank your customers for their support. 

This helps to create a positive brand image and fosters a loyal customer base.

#6 - Deliver & Overdeliver 

Believe it or not, the post-launch phase is actually the most important part of the whole process.

Because how you engage with and deliver to new customers will ultimately determine the success of your current launch, the future of your product, as well as future launches.

Exceptional post-launch support not only helps to ensure customer satisfaction but also encourages brand loyalty and repeat business.

Focus on over-communicating and overdelivering.

Offer additional resources, follow-up content, or training to support your customers in getting the most out of your product. 

Develop a comprehensive customer support strategy, including multiple channels such as email, live chat, and phone support. 

Be prepared to handle an influx of inquiries and requests, ensuring that your support team is adequately staffed and trained.

You can also implement an "Upsell Path" to introduce complementary products or services to your customers, increasing their lifetime value to your business.

This is a great way to capitalize on their excitement of the launch to drive more revenue, and develop deeper relationships with your buyers.

#7 - Analyze, Iterate & Improve 

After your product launch, it's essential to analyze the results and learn from your successes and failures.

Track key performance indicators (KPIs) such as website traffic, conversion rates, email open rates, and social media engagement throughout your launch campaign.

Analyze this data to identify trends, areas of success, and opportunities for improvement.

Pay close attention to customer feedback and reviews, as these can provide invaluable insights into your product's performance and areas for enhancement. 

Use this data to refine your product offering, pricing, and marketing strategies for future launches.

There you have it, my 7-Step Product Launch System.

I hope you find it helpful.

Take some time this coming week to start planning out your next product launch, then hit me up on Twitter with your master plan. (Feel free to share a screenshot on social media and tag me!)

Also before I go, 2 quick things:

#1 - I've re-opened applications for the new Founder OS Accelerator. Want my support with growing your personal brand, audience and revenue in 2023? Apply for your call here.

#2 - And remember to secure your spot for my new training where I'll reveal how you can add an extra $20k in new monthly revenue. Grab your spot here.

Let's win together 🥇

Matt

P.S. Whenever you're ready, there are 3 ways I can help you:

#1: I just launched a new YouTube Channel. I'm putting a ton of energy into creating heaps of valuable content that I think you'll like. Come check out my latest stuff, and give me a like and subscribe. 

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#3: Follow me on Twitter and LinkedIn for more operating systems, marketing tips, and community-building systems.

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