Launching a new product can be fun and profitable… or a heartbreaking experience.
But there is a little-known secret to minimizing your risk and maximizing your return.
That is:
Follow the proven direct response marketing rules.
And that’s especially the case in times of economic turmoil.
By using these rules, often called “scientific” or “accountable” advertising, you minimize your cost, maximize your potential, and always know your results.
That’s how we have helped many marketers successfully launch their business or new product. From our experience, I’ve created a 7-point checklist to successfully launch a new product or service. Yes, even in a recession. But before we do, let me give a few examples of companies that have followed that checklist.
In using these three examples – in the middle of an economic downturn and economic uncertainties, TheStreet.com, Whole Botanics, and Immune Systems became successful.
One example is TheStreet.com.
They wanted to launch new premium products. And they turned to us for help.
It was in the middle of a bad market and economic downturn.
After discussions and brainstorming, our team recommended launching their new premium investment newsletters based on TheStreet.com’s most popular columnists.
We used powerful, long-format landing pages, emails, and digital ads to drive sales.
Everything was set up to test determining cost per sale… what worked best. Everything was accountable.
Our copy focused on the brilliance of each individual newsletter writer and their unique style of analyzing investment opportunities and determining the best stock prices.
We highlighted success stories early and often.
Plus, the marketing presented testimonials, examples, and case histories … highlighted the benefits … and created a strong, irresistible offer.
We gave the reader a sense that they would be all but led by the hand through the investment strategy of the particular newsletter they were interested in.
The results blew away the client’s expectations, exceeding projections by more than 350%.
Using this same secret, we also helped successfully launch a new brand of CBD oil when the headlines of economy were rocky.
Generating Profits and Growth
Whole Botanics has a CBD oil designed to help people alleviate pain without the harsh side effects and addiction-potential of pharmaceuticals. But the CBD market is saturated.
So, to break through all the noise and clutter to achieve a successful launch and make money from the outset, we implemented an integrated, multichannel program that included a two-phase direct mail campaign.
In phase one, we tested a carefully crafted, powerful direct mail piece that consisted of an envelope, sales letter, and several other key components.
In phase two, we added digital elements for a multichannel, integrated campaign to the very same names we sent the direct mail to. This included emails, Facebook ads, and Google ads to increase sales and boost responses to the direct mail piece … and generate profitable online sales themselves.
One last example is the launch of Immune Systems …
It is the American dream come true. But when we first talked to the owner, it was still only a dream.
We turned it into a multimillion-dollar company from nothing using that little-known secret (aka direct response marketing) and implementing the following plan …
And this was when the economy was in chaos, and companies were pulling back.
From Kitchen Table to Million Dollar Business
To start, we worked with the owner to create the newsletter’s branding, positioning, defining the unique selling proposition (USP) and personality.
We also developed a powerful offer to kick off the project.
All following the direct response marketing rules.
The result?
From the owner writing his newsletter on the kitchen table in a rented house, Immune Systems grew to one of the largest health newsletters and supplement companies in America.
Despite recessions, market crashes, intense competition from large corporations, changing technologies, new media, and communication channels, we helped build the company into the largest independent alternative health service in America.
You can do the same for your product or service. To get you started, use this checklist.
Your 7-Point, Direct Response Marketing Checklist to Successfully Launch a New Product
Step #1: Know Your Target Audience
The foundation of any new product launch is properly identifying the target audience.
Knowing the target audience – their hopes, dreams, fears … what keeps them up at night – is critical to your success. Then targeting only advertising Transactional Data Modeling (TDM) and other advanced media strategies.
Step #2: Decide On The Most Accountable And Effective Media
Today’s options for marketing are many … but you must choose the best way to fully display your message.
For most clients today, we will do a targeted, integrated, multi-channel approach: email, Facebook, addressable TV, Google, pre-roll, and postal – all to the same names.
And use Transactional Data Modeling (TDM) for look-a-like audiences for digital and direct mail.
Step #3: Create a Powerful Direct Response Offer
The offer you choose can make or break a successful launch.
What will your prospect get? Discount? Savings? Premiums? Guarantee?
In a period of stagflation and/or recession, this is critical.
Is it a “no-brainer” offer that is near impossible for the prospect to refuse?
Step #4: Use Only Direct Response Copy And Art
For all your marketing materials, follow the direct response copy rules for maximum response.
Then use the science of eye flow to create the largest readership with your art.
Many campaigns fall short because they use traditional advertising copy or editorial/journalism copy and art – not direct response copy and art.
Step #5: Define Your USP, Positioning, And Branding Properly
Critical to success is defining three elements:
- Your USP: Unique Selling Proposition. What makes your offer different from all others?
- Positioning: How does your product fit into the needs vs. the choices of your prospect?
- Branding: Name recognition makes a purchase an easy decision.
Step #6: Be Preemptive
What are the greatest objections to – or doubts about – your pitch?
In an uncertain economy, what are their fears, or what could prevent a sale now?
Find out, and then address those concerns immediately to overcome objections.
This includes why your product or service should be bought now, as people and companies are cutting back on spending.
Step #7: Test, Test, and Test
In any new launch, scientific testing of media copy and offer is critical.
And, of course, proper analytics so everything is accountable.
As I said, launching a new product can be fun and profitable… or a heartbreaking experience. But using direct response marketing principles will reduce your risk and help you experience higher response and profitability.
Do you have a new product to launch? We can help.
Most of the 111 awards we have won are for new launches.
Give us a call at 615-993-4647 or email Michael Oppenheimer at [email protected].
