We’re back with another entry from the Insiders’ Club Newsletter archives. Today’s post is a bit like looking back in time – and looking into the future – at the fine art of product launches.
This is from a 2015 newsletter, and is an important glimpse into how the marketing landscape was already changing. We’re sharing here to get your mental wheels turning. The points about value and trust are more true than ever, and customers just keep gaining more power!
Let this be a snapshot of the past, an indicator of the present, and a roadmap for the future.
QUESTION: “Charlie, I keep telling everyone that Jeff Walker-style product launches don’t work anymore. The consumer has caught on, don’t you agree?”
This is a really good question, and a popular discussion among my own coaching clients who are hearing similar rumors… Just experiencing different results.
Here’s the thing: for many people, the “Jeff Walker-style” product launch is apparently broken… And it might be true for some, but it’s not true for everyone.
If anything, our average conversion rate on this type of product launch has gone UP from 2% to as high as 3.5% (our rising conversion rates have to do with creating a dynamic and personalized experience).
What has changed is the amount of leads that go into the funnel.
In 2013, it was easy to get over 20,000 leads into the funnel, and turn out a $1 million dollar launch. In 2015, we’re lucky if we get 10,000 leads in the funnel with the same number of affiliates.
The affiliate marketing game has changed, and that means product launches have too.
Affiliates pimped out their lists by promoting every Tom, Dick, and Harry – regardless of whether or not they believed in the product – and pushed consumers to sign up just so they could make a sale. This not only resulted in consumers losing trust in companies (an ongoing pandemic), but also in email providers (like Google) making it easier to unsubscribe and filter out promotional emails.
I sent a memo to my coaching clients in late 2013 to warn them of the changes in affiliate marketing. Those who were wise took my advice and preemptively ensured they were creating multiple lead generation spokes in the wheel.
This change in the affiliate world pummeled one-trick ponies that relied (almost exclusively) on one form of traffic – often reducing income by as much as 75%.
So again, to answer your question: I suspect that if you look at your lead-to-sale conversion rate, you may find that the launches do continue to work. However, it’s possible that the problem isn’t with conversion – but instead with lead generation.
Additionally, keep in mind that with each and every day that goes by, consumers are getting wiser. They know more about you, your competitors, and all the solutions available to them. If your message isn’t compelling, isn’t offering tremendous value, or doesn’t leave prospects with information that gives them a greater advantage, benefit, or value – it’ll get brushed off like a bird turd on a windshield.
In your corner,