Product Launch Formula vs. Evergreen Launch: Which is Best?
Welcome to the first episode of Marketer Mondays, our new weekly show that answers your questions and shares what is working now in the world of online marketing. This week on Marketer Monday, we talk about the Product Launch Formula versus building an Evergreen Launch.
Most importantly, I address which of these two options is best for your business:
Product Launch Formula vs. Evergreen Launch
An audience and your leads, whether you’re selling information products, software, physical products, really all of that. So each week we’re going to dive into a different topic. I’m going to share my thoughts and hopefully give you some value where you can increase your lead value as well. At first, I just want to talk to you about these product launches, the traditional “Jeff Walker” style that you see in marketing all the time especially if you’re an internet marketer and in that space. So, this is what it looks like – the product launch. You typically have a series of videos and you’re walking people though different trainings that get them excited about what you’re eventually going to offer. So, if you’re going to do the traditional product launch, you would create, let’s just call it one, two, three. And each of these videos is going to share some content, it’s going to help the viewer to actually get to know you and get to know your industry; what it is you’re talking about.[1:00]
Now, this video series will end with a sales video. This is video number four; this is where you ask for money, this is where you go for the sale. Here’s what happens here; as people are getting comfortable with you, they’re learning about you, they’re getting excited, they want to know what’s next. At the end of video three, they want video four and they wish there was video five, six, seven, right? They want to keep learning. So this video’s job is to actually say, “Hey, here’s how you do that. Here’s what you can get from us. Here’s how we can help.” So, this works very well. Typically this video, you leave up for between 5-7 days and that’s when your cart is open. Meaning that’s when people can actually go to your registration page. They can enter the credit card information. They can give you their money and they can buy your product. So again, this does work great. It’s a model you see again and again. But here’s the thing. I personally am not the biggest fan. Even though, yes, it could be profitable, what we like and what we do is something called an “Evergreen launch”.[2:03]
Now, Evergreen is just what is sounds like. It’s something that doesn’t go anywhere. You’re not going to close it, the cart’s never going to end but really you could use this same formula except instead of ending in 5-7 days it could be open for years and years and years. If you’re familiar with any of my other businesses, you know, Drop Ship Lifestyle, it’s an online ecommerce training program. I created it about four years ago and the cart has been open for four years, okay? So it could have been opened for 5-7 days. Instead, it’s been opened for four years now and making money consistently month over month. So obviously I’m a fan of this because instead of one week’s revenue, I’ve made four years revenue so far and that really leads to a lot of other benefits as well. I mean just standing behind the product, being able to support it; the students that joined us four years ago are still getting support today. The ones that come today have an up-to-date course. We’re able to have tools and software built for them and it’s because it’s a real business. If you just do a product launch and then stop letting people buy, do you really have a business? You don’t. You have a good week. You made some extra money. But if you want it to be sustainable then you should turn it into an Evergreen launch.
Now with that being said, it doesn’t mean this model isn’t usable. In fact, we actually use this but we modify it to make it Evergreen. And here’s one example for how we do that. Again, the psychology behind the video series that are introducing people to yourself and your brand, letting them know more about how you can help them. That’s super valuable, right? So we actually do this via emails. So if someone signs up for one our video series, we will email them a video on day one. We will email them the second video on day three, we will email them the third video on day five and then on day six, we will email them the sales video. The only difference is, we don’t do this one time and then seven days later say no and goodbye again. We actually have an email sequence behind this where there’s as special offer and that special offer lasts five to seven days but only for the people that are currently in it.
So what that means is it’s Evergreen, right? It’s not one time, it’s not for, it’s not static for everyone but it changes based on where the subscriber comes from; based on where the lead comes into our funnel. So the technology behind that, if you’ve been doing things like this already, you may be familiar with it. Maybe if you’re new to this feel free to post comments, ask questions and I can explain it more. But we use a few different tools. One of them is InfusionSoft and another one is Deadline Funnel and that basically allows us to create custom launches for people who come into our funnel at different points. So, again, the benefit is four years or sales rather than five to seven days of sales so far and that’s something that’s going to continue as this business continues to grow and evolve. Now, I’m sure you can see not only how having this Evergreen product launch will not only benefit your wallet and your business’ size but it really does also benefit the students. Whenever you see people go through these launches especially in the internet marketing space, 90% of the time the products just disappear off the market; the cart closes in seven days, if it’s software it’s usually buggy and it never gets fixed because they don’t have the incentive to fix it.[5:02]
If it’s an information product no one offers support. They deal with all these refunds. It’s a mess right? So I’m totally aware, if you’re watching this and you’re like, “Oh, but everyone says go with this route.” I get it and I understand why. People like a big payday in a small amount of time but again, your customers will not be happy with you after a while. You’re not going to be able to stand behind the product if it’s not really making your company money, right? And, you know, it’s not going to incentivise you. So, my advice is use the formula from here, use this five to seven days because urgency and scarcity really do work. But don’t have this as a fixed date. Have it be something that changes, it’s a variable based on where your lead is in your funnel and, again, we use a bunch of different tools to do that. You can ask questions about it. But we call this the Evergreen Launch. It’s something that consistently works. It produces results every single day. It allows us to run profitable advertising campaigns. It allows us to deliver the most value package possible and it allows our business to make the most revenue.[5:54]
So any questions, just ask and guys, this as brand new series as I said. Marketer Mondays. This is episode one so we would love to get ideas and different suggestions for future episode so let me know what you want to learn about. Post it below this video, on Facebook, Youtube or the blog, wherever you’re watching it and that way as we continue to create these I can actually cover topics that you want to know about. So if you got value, please give it a thumbs up or like or share and let me know in the comments. So thank you everyone and I’ll see you next Monday.