How to Recover From a Lackluster Product Launch
Whenever you have a product launch, you have big dreams of a runaway success, happy customers, and a few extra thousand dollars in the bank.
If a product launch is anything less than what you envision, it can be earth-shattering.
But a lackluster product launch is something many business owners experience. So if you’re feeling down about your own, know that you’re not alone.
Here are a few things to think through if you had a less than stellar product launch to make yourself feel better:
Know That It’s Not About You
Our first instinct is to take a lackluster product launch to heart because we put so much of our energy and passion into them.
When people aren’t running in droves to buy, it feels like a personal attack.
There are many reasons a product can underperform that are unrelated to who you are as a person. Your product may be one your ideal customer needs, but they simply aren’t aware that they need it yet.
There may be a pricing issue, your sales copy may need some tweaking, or there’s simply not enough awareness about you and your brand right now.
Rather than taking it personally, think through it logically to figure out where you can improve for next time.
Dial Back and Return to the Basics
There’s so much information to digest about online marketing that it can be tough to decide what is or isn’t going to work for your business.
Go back to basics and start thinking small again.
Speak with the people on your email list individually. Answer questions for people during live workshops, seminars, trade shows, or conventions.
Get back to the root of their problems and pain points.
Then come back to your product and your launch strategy. You may find a new approach to your sales copy and positioning that will better serve your customers.
Don’t Look for Just Any Old Advice
If you need help, ask for it. It doesn’t have to be expensive advice either.
I found after getting back in touch with the specific needs of my client and reading Ray Edwards’s book called How to Write Copy That Sells, I was able to increase the sales of my product even while experiencing a dip in traffic to my site. This book only cost $13.
One thing to avoid is seeking out a course or business coach when you’re feeling desperate. This is when you’ll make rash decisions that may not be the most advantageous for your business.
If you’re looking for courses or coaches to help you improve, take a breather, make a thoughtful analysis of what may have gone wrong, and then make a measured decision on what will be the right course or right person to help you.
Revisit Your Wildest Dreams Versus Actual Needs
Another thing to consider is whether you’re too hard on yourself.
It’s easy to compare yourself to other business owners and wonder what’s wrong with you when you don’t attain their level of financial success with your launches.
Understand that every business is different and results will vary depending on the type of business you have.
To use myself as an example, I create financial literacy products on budgeting and saving for people who are living paycheck to paycheck or close to it.
Will my products net as much as other products?
Maybe or maybe not because the customers I’m serving are having money trouble.
Think about whether your expectations are realistic.
Did you want to make six figures from a launch? Do you need to earn six figures from a launch? Is it realistic to expect that much for your product?
If you do have ambitious goals because you’re comparing, remember that you don’t know for sure what’s going on behind the scenes of someone else’s business.
The successful launch you see from the outside could be after years of tweaking their strategy. Think of your past “less than perfect” product launches as valuable learning experiences.