Whenever I see a launch fail it usually points to these underlying reasons:
1 – the offer isn’t clear on the value
2 – you compete with others who sell for lower prices
3 – the audience doesn’t see the value or differentiation of what you provide
4 – the cold audience isn’t nurtured enough
commit those product launch failure reasons to memory.
because if your launch fails…it’s one, a combination of, or ALL of them.
Let's focus on #3 because it makes a product launch fail almost every time.
Because differentiation is the new marketing.
I’ll say this over and over and over again. Until my tribe (that's you) take it to heart and run with it.
Because now people are becoming more aware of the problem that exists….which is the SEA OF SAMENESS
But they don't know how to FIX IT.
So you and I have a window of opportunity to BE DIFFERENT so we avoid product launch failures.
So the question is
HOW are you differentiating?
In today's marketing world, NOTHING is new. People have seen and heard everything.
Which means they’ve seen your copy template.
“How to X Without Y”
“X Ways to Y”
forget all that.
What you need moving forward in this decade is a BIG IDEA. One that aligns with your dream customers' core desire.
Don’t get me wrong. There is still room for the templates.
BUT, when I hear people tell me about their a product launch fail, the culprit ALWAYS comes down to:
“you didn’t explain the value of what you bring to the table in a different and fascinating way so that your product / service matches the core desire of your customer”
Put simply – people don’t differentiate.
A 5 pound bag of sugar is a 5 pound bag of sugar.
Unfortunately most marketers position as the NEXT 5 pound bag of sugar.
Not great.
Onward.
The other thing I want to stress is if you are in a highly competitive market (such as “online marketing service” or something like that) the WORST positioning is by price.
Because using price as your competitive advantage means you’re a commodity. (read: 5 pound bag of sugar)
And anyone can sell for a lower price.
The other reason to avoid pricing as your positioning is that people who pay low prices (generally) are challenging customers. They aren’t bad people…but they expect the BEST without wanting to pay for it.
No judgement. Just the facts.
On the other hand, when you have a quality service and position it in front of the right people with money, your entire business changes.
Ask me how I know.
Before I end this convo…let me share a checklist I use when looking at market.
These are the disqualifiers (from Perry Marshall) to help us avoid a product launch failure
1. Do they have money?
2. Do they have a bleeding neck? (read: the problem today needs to be u-r-g-e-n-t)
3. Do they buy into your unique selling proposition?
4. Do they have the ability to say YES?
5. Does what you sell fit in with their overall plans?
Just one more thing.
If you want to avoid a product launch failure, many times it's not about changing the product/service…it's usually about changing the audience.
Use the qualifying questions above. And then work on your differentiation message.