As a Virtual Assistant, I am often in the middle of product launches and joint venture calls, which usually involve a teleseminar or telesummit call via phone and/or internet broadcast.
I recently gave some advice to a newer coach, and I thought I would share these points with you too, in case you didn’t get the results you were hoping for from your own product launch, or maybe you’re preparing for your first one.
Here are three reasons that your joint venture or preview call may fizzle:
1. Vague Target Niche
The problem with having a vague target niche is when your message is too widespread, people won’t connect with it and the solutions you may have for them. It goes right over their head, even if they would really benefit from your help.
You can still offer your product and services to everyone, but for specific talks, you may have to target specific audiences or a specific theme (money, health, love, etc.) so you can hit specific ‘pain points’. I’ll talk more about this in a future article.
You can tweak your message and talk to the specific issues, and tell your story from that perspective, or stories and successes of your clients (anonymously). Then people think, “Wow, it seems like she’s talking directly to me. It seems like she really knows how I feel and what I’m going through,” and they feel a connection to you.
People want to know exactly what they are going to get out of working with you, and depending on the target and theme, you can specify it (improved health, more energy, more money, more clients, self-love and relationships that work, losing weight and getting healthy). People don’t buy processes; they buy results.
Also, if you are participating in a telesummit with so many other speakers, there are a lot of options for people to choose from and it’s too easy for you, as a speaker, to ‘get lost in the crowd’. You need to make yourself stand out by making yourself an expert on a specific topic so people remember you and think of you as the go-to expert for their specific problems. People want to work with experts.
2. No Time Urgency With Bonus
If you’ve listened to teleseminar calls before, you’ve probably noticed that a great program, product or service is usually offered to the listeners at the end of the call. You may hear something similar to one of the following:
“Everyone who signs up by midnight Eastern tonight will receive a special bonus… (special discount, audio recording, access to a group coaching call, 30 days email coaching, a bonus one-on-one discovery session, strategy session, or evaluation, etc.).”
“For the first 5 (10, 20) people who sign up, you will receive a free introductory session with me to discover what is holding you back and how you can change it.”
It could be anything that is offered as a bonus, but there is almost always a reward that is offered for those who take action early. If you don’t get people to take action by that first night (because they feel like they are missing out on something valuable if they don’t), then it is less likely that they will choose to sign up for your product/program, as they will put it off and forget about it or change their mind.
3. Price of Offer is Too Low and/or Doesn’t Contain Enough Perceived Value
Lower pricing doesn’t necessarily mean an increase in sales. Sometimes it means just the opposite because people don’t think it holds enough value or they think you don’t have enough confidence in what you’re offering.
People have found that potential clients or customers may balk at a low price for a product or service, but when they decided to double or triple the price, those same people who balked before now jumped on it because they felt it was more valuable!
If the price for your product or service that you are promoting through joint ventures or preview calls is too low, this may mean you either need to raise the price or bundle it with another product or bonus to increase the perceived value. Always appear to over-deliver so that prospective customers think they will be getting a great deal.
There are, of course, many more pieces that fit together to create not only a successful preview or joint venture call, but also a successful product launch. If you are a business coach or life coach who needs some help with setting up the systems and technology, and you also want someone who understands the promotion and sales processes, go ahead and schedule a Complimentary Discovery Session with me so we can determine if we would work well together.
There is only one requirement: You must be motivated to grow your business and have a positive attitude!
