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Profitable Product Launches for Businesses

July 22, 2010

Recently I’ve been learning about the concept of Product Launches. The concept seems simple enough but the results you hear from successful product launch gurus almost seems too good to be true. Nevertheless, the plug and play concept of Product Launches is interesting enough that it is absolutely worth taking some time to explore.

So you are probably thinking to yourself one of two questions:

1. What is a Product Launch anyway?
2. How could my business profit from a Product Launch?

So let’s tackle the first question:

What is a Product Launch?

In its simplest form, a product launch is a method for launching a product within a specific timeframe, offering or both. The method includes a sense of scarcity, with an overarching story, while not only engaging with potential customers but also learning of their needs and wants.

And for the second question, how could my business profit from a Product Launch?

Perhaps you have heard of Jeff Walker or Eben Pagan, both famous for their million dollar launches? They along with thousands of others have figured out a way to successfully generate income from Product Launches.

Below are three ways your business could potentially profit from a Product Launch:

• Product Launches create a sense of urgency in turn motivating your potential customers to take action faster
• By engaging and learning from your actual customer base, you will learn of additional product offerings from the buyers themselves
• Product Launches afford you the opportunity to develop momentum for your products which could potentially take much longer

Have you ever had a Product Launch for your business? What do you think about the concept?

image credit: jurvetson