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Launch tree summery Launch tree summery Document Transcript

  • Launch tree Learning NotesVivian LeeThe Launch Tree SummaryModule 1: The Psychology of the Launch TreeWhen Launch tree is needed • Your business is all about offering real and lasting value to your customers… • You want mass distribution of your product (which requires a far lower upfront cost — meaning you need the Launch Tree!)…Then you need to implement the Launch Tree strategies exactly.Upselldo upselling and downselling right and you’re actually building a strong lifelongrelationship with them.Don’t look at upsells as UPSELLS. Look at them as CUSTOMIZATIONS.Upsell and downsell add value~~Don’t use a heavy-handed upsell process and pressure customers into buying even your bestproducts, you haven’t presented them with real VALUE. Theyll either be resentful or confused, andeither way you lose that customer.If they bought product A, product B obviously needs to complement it. So, product B should makeproduct A either more “complete” or easier to use.Give your customer more of what they want
  • Launch tree principle:Eg, where u search a book on amazon, Amazon even tells you what other customers who buyyour book are buying. That makes you feel comfortable adding more products; you know they arerelevant and that youll probably like them.Even the specific upsell you offer needs to be properly timedDownsellWhat if the customer buying the suit does not have an extra $60 for the shirt and tie? You can usedownsell principles
  • So if the customer has said “no,” you need to figure out why. From experience, we can safely tellyou that 95 percent of the time, it’s the cost.Give control of the order process to the customer. Mike thought he was adding things to hiscart — he should have had final control of the cart!A better way to present upsell:Customize the upsells based on the customers responses.Give control of the order process to the customer.
  • Module 2 - Launch Tree Case StudiesFrom those cases, we learned the right action steps as follows:Action Steps 1. Review your current sales process. 2. Write down changes you can make to your sales vocabulary right now. 3. Write down all of the small things that might be causing friction in your sales process. 4. Look for ways to add a "free" component to your offers. 5. Do a quick analysis of your pricing -- main offer, bump (if you have one), and upsells/downsells. Note down any jumps that might be too big or too small. 6. IMPORTANT! If you have no upsells or downsells right now, write down three ideas for products. They should all be products you can create using our quick methods, resale rights, PLR, etc. 7. Write down at least ten things you know about your customers. Go beyond basic things like "they are interested in Internet marketing." Get into their problems, concerns, wishes, and emotional hot buttons. 8. Start a list of concerns and issues your customers might have after placing an order. 9. Do your products make sense? Take a look at your products, especially any upsells or downsells, and how "relevant" they are. Do any stick out as being a little off base? 10. Come up with at least three ideas for recurring revenue products. 11.Compare your best and worst "offers." Look at your product with the highest conversions and the one with the lowest conversions. Compare them on the basis of each part of their respective "offers" (what your customer gets, how they get it, how much it costs, and how they will pay). Why do you think the best one is such a high converting offer? What do you think is wrong with the lowest converting offer?Module 3 - Easily Creating Valuable Upsells &DownsellsKey point: your upsells and downsells MUST be closely related to your primary offer– (And that means they are probably interested in more — but only if it fits. ) andeach MUST make sense to your customer if you want them to say "yes."
  • Key point: Downsell or upsell need to be directly related to the main offer and addingvalue to your customers.Give your upsells and downsells a logical flow, both in value and price.The good news is its actually quite easy to create upsells anddownsells. Once you know what all the basic building blocks are and how theywork, you can put them together in so many different ways.There are two basic ways to do this: 1. Use what you have. This is called recycling or repurposing content. Frankly, if your basic content is still valuable, you can and should reuse it. 2. Start from scratch. This is not as hard as you think, as youll soon discover!So some people will ask, what is an offer?An offer actually consists of all of these components: • What are your customers going to get? • How they are going to get it? • What they are going to pay, and…
  • • How are they going to pay it? (Will it be a split payment, or a one- time lump sum?)Design a offerStep1: Your Content Inventory1, gather your content assess.The goal of this exercise is to figure out what you already have that can beturned into an upsell or downsell.When performing this inventory, what items should you "count?" 1. You should count any content, meaning any intellectual property you have ever developed on the targeted topic. 2. Any products you own rights to. 3. Any good quality private label rights 4. Names of close contacts of colleagues within your niche who could help you develop products, or who have their own products. 5. Also review your main offer — sometimes there are things in your main offer that can be pulled out (only if it makes sense though).Your goal is to take every opportunity to turn what you’ve alreadycreated into upsells and downsells!You can use the sheet from Launchtree"Content Development PlanWorksheet" (download).Eg:
  • Step 2: Your Content Development PlanHere we use a Repurposing and Recycling Content Checklist(u can downloadhere)Another way to create upsells and downsells easily is to recycle content.What is recycle content?
  • 1. Turn website and blog content into educational products. With just a little rewriting, you can create ebooks, newsletters, and even e-courses.2. Turn website and blog content into an audio book. Hire some voiceover talent, and you can turn your blog into an audio book.3. Turn your email into a product. Your email is probably FULL of answers to questions and solutions to problems. So convert your email exchanges into an "eavesdrop on my private email coaching" product (youll have to remove some names to protect your correspondents privacy of course). This one would also make a great audio book.4. Turn articles into an ebook, audio book, or "video book." If you do article marketing, youve probably published lots of articles in your niche. Compile them all into an ebook or an audio book. You can even do a "video book" (see the next section on Creating New Media).5. Re-record old audio interviews. This can actually be a lot of fun and makes a great upsell. Contact the people you originally interviewed, and ask them the same questions as you did before. Then package the new interviews with the old ones for a "back to the future" product. The “old content” now becomes a new product, and with very little effort on your part.6. Get transcriptions made. Use a service like CastingWords.com (the best in our opinion) to turn any audio into an ebook. The transcript can also be bundled into a deluxe version with the audios for an upsell. This ones just a little more work: Get a video transcribed, and then add screenshots from the video to the transcript to make an ebook, or physical book, to accompany the video.
  • 7. Record a workshop or a conference. You can turn these into physical DVDs for an upsell, then offer the downloadable recordings as a downsell. 8. Turn workshop content into a book. Record a workshop and then hire a good editor/writer to transform the workshop into a book and/or a workbook. 9. Turn your autoresponders and newsletters into books or audios. You can now offer your "talking newsletters" or "talking e- courses" as an upsell. 10. Turn planning sessions into products. If you recorded or videotaped any of the meetings or planning sessions when you created a big product, offer them as a “making of” audio book or film. This is a great way to recycle any "work" you do. In fact, we did this with Launch Tree! We recorded the “making of” and offered it as a bonus. We also recorded the planning of our own launch tree and offered it as part of one of our valuable upsells.IMPORTANT RECYCLING TIP! When recycling older content, forexample an audio tape, it might contain some date-specific referencesthat will be out of place — thing like mentions of current events or popculture.Create New Media from What You HaveOur Top Five Media-Switch Ideas Digital to physical. If a product you previously offered was in adigital format, you can usually create an upsell by making it a physicalproduct. For example, if youve got a series of recorded webinars fordownload, for an upsell create a package of physical DVDs.
  •  Physical to digital. If a product was physical, make a downsell bygoing digital. For example, if youve been publishing a physical newsletter,create a digital "collection" of back issues as a downsell. LIVE to recorded. Record any LIVE event, and then offer it as aphysical product (upsell) or online video (downsell). For example, hold aseminar or workshop, record all the sessions, and then turn the recordingsinto a product.Conversions can be VERY high on this type of upsell/downsell. You caneven sell them PRE-event, since people who cant travel to the actualseminar will usually jump at the chance to get recordings of the sessions.Print to audio. Audio books are hot, especially if people can download them totheir iPod or other digital player. For example, if you have an ebook on a topic,go to Guru.com or Elance.com and hire someone to make an audio book for you.You immediately have a great upsell that adds a lot of value. Print or PDF to "video book." Heres how you create a "video book." Youtake your ebook or other written content, and make some Powerpoint slides foreach chapter. Then record yourself reading the text of the book while you stepthrough the Powepoint slides.Adding artwork to the Powerpoints makes it that much nicer.You can also hire professional voiceover talent to read the book, and an artist tomake more elaborate videos… but hey, were trying to keep it simple here!Now take that recording, and turn it into a physical upsell by putting therecordings on DVD or CD-ROM. The downsell becomes a downloadable video inFlash.Using Other Peoples Products Buy resale rights, reprint rights, or master resale rights to anexisting product. The product doesnt have to be just an ebook. You canpurchase resales rights to audios, videos, software, and even continuityproducts like membership sites. Customize some high quality PLR (Private Label Rights)content. PLR has gotten a bad reputation, mainly because a lot of it ispretty low quality and people use it without changing it.But actually this type of "white label" content has been around for a longtime. For example, if you get a print newsletter from your doctor, dentist,veterinarian, realtor, or other professional, chances are its a cannednewsletter — they just add their name and picture!We recommend that if you use PLR, hire a good writer and designer to
  • customize it and spruce it up for you. Then add quality extras, likechecklists, and then create an audio or video version. In other words, usethe PLR to save research time, but do everything you would do to yourOWN product to professionalize it. Clinch a JV or other type of partnership with an expert in yourniche. Using someone else’s product is one of the fastest ways tocomplete your tree — and with almost no work on your end. If you arejust starting, this may be your preferred route.Eg:If you have an ebook about improving your golf game, perhaps you can partnerwith someone who offers a monthly newsletter to golfers.You can now generate recurring revenue without having to do any extra work!You’re also bringing great value to your customers through a newsletter that istested and proven.When deciding who to approach, you should first search withinyour own pool of associates. Then ask yourself these questions: • Who do you already know who provides valuable information — perhaps you’re even a customer? • Is this person honest and willing to offer his content at a fair price or percentage of profits? • Would this person be willing to sign a simple agreement that spells out each of your responsibilities and compensation? • Do you feel comfortable promoting this person’s products or services? Would you, yourself, buy it? • What does this person offer that will help you and your business? • Is this arrangement also a good investment for your partner?When Partnering with Another Marketer • Always work with someone you know and trust. • Have an agreement in writing. • Make sure the terms are equally satisfactory to both parties. • Spell out each persons responsibilities.
  • Six Fast Techniques for Creating Valuable Upsells and Downsells From ScratchModule 3 – Easily Creating Valuable Upsells & Downsells
  • J. Time For Our Best Ideas – 25 Ideas You Can Run With…Here are 25 ready-to-use upsell and downsell ideas. You can alsodownload and print these out here:Color 25 Best Upsell/Downsell Ideas Cheat Sheet (download)Boot CampsThese have VERY high perceived value and are the easiest upsells to do. Heres whatwe recommend for a Boot Camp upsell…  Four to six week series  Use GoToWebinar.com  Hold one per week  Do in-depth sessions  Better yet, get experts to participate in the webinars, reveal their secrets, etc.  Be sure to record these! Make the recordings available to those who bought the live Boot Camp.  Make the recorded sessions only (no live attendance) as a downsell. Charge 50 percent for the post Boot Camp recorded version.  You can also re-purpose or recycle these recordings later.Recordings of LIVE Events  If you are selling any type of training or course, videos of sessions that teach advanced topics will sell especially well.  The videos dont have to be high tech. You can set up a video camera and tape yourself teaching a "class" on the topic to a group at the local library, community center, or church. The point is to tape a "live session" with an audience.
  • If there is any kind of complex, intimidating, or time-consuming task youcan do for your customers, this will convert amazingly! Some ideas…  "We build it for you" website businesses. You would design the site, write the copy, make the graphics, and even populate with affiliate products.  Turnkey product development. If you have a strong team of outsourcers in place, you can sell a custom product package, such as an ebook, video course, audio interview series, etc. These also have a very high perceived value.Module 4 – How to Build Your Own Launch TreeFirst well go over the different types of offers that can go on your treeThen youll make several initial sketches of the offers on your Launch Tree.Finally, if you haven’t done a Content Inventory and a Content Development Plan,better go back and do those now! You cant start building a Launch Tree withoutsome offers to put on the branches - and you need products to make offers!A. What Different-Sized Launch Trees Look Like3 different kinds of trees:1. Short-tree if you dont have one click technology (1-2 offers of upsells ordownsells)2. Medium tree (2-3)3. Tall tree(3-4) highly related offersBump offerExtensive downsell
  • RecouringB. The Different Types of OffersBasic Types of OffersMain offer, bump,upsell, downsell, Recurring, and bonusPost-Launch OffersAfter your customer goes through your entire Launch Tree, you can (and should)continue to present them with offers. That includes not only your own products, butaffiliate products (such as related software offered by another marketer).Backend offer – A general term for any product you offer to your current customersafter the initial Launch Tree process is over. This can be a one-off product or arecurring product."Launch within a launch" offer - This is a term we use for a special type of offeryou present to customers shortly after a big product launch. This offer is designed toride the momentum from the launch, while your customers are still excited andhanging onto your every word. You generate some buzz for this product during theactual launch, but you dont offer it for sale until about 10–30 days after the launchcloses.Affiliate, JV, or partner offer - Here you are paid a commission for promotingsomeone elses product to your customers.Now its time to brainstorm the arrangement of YOUR offers into your own LaunchTree!C. Arranging (and Rearranging) OffersLay Out Everything You Have  First, create a flow, a story — which one would best follow which one...
  •  Second, lay them out based on which ones you can charge the least to most for...  Third, decide on how many upsells/downsells you want and what you plan on launching within a launch later...  Fourth, plan if you have recurring — if so, have a content plan ready for at least the next three months...Sketch 1 - The StoryHow do the products flow from one to the other logically?What kind of "story" do the products tell your customer?
  • IMPORTANT NOTE: Remember NOT to shove your customers into your existingproducts. If you try to force a tree, it won’t work. It’ll irritate your customers and itwill not produce results.Sketch 2 - The Prices
  • Sketch 3 - Selection and Timing  How many upsells and downsells do you want to offer in total? Try to select which products will be upsells, and which will be downsells.  What products do you plan to use for a "launch within a launch?" Choose these carefully, because they could be your highest converting products. Youll be promoting them to highly enthusiastic customers, and also during the "honeymoon period" of peak momentum right after your main launch.  Will you have a recurring continuity program? If it’s content based (virtually all are), you need a content plan that covers at least three months.
  • D. How Big Should Your Tree Be?Here are some tips to help you decide on whether to shoot for a short, medium orlong tree…  If youre just starting out, go with a short tree. Its always best to get started and try something out. Dont let the lack of a big tree with lots of products stop you from at least starting!  If you have no 1-Click technology (see Module 8), stick with a short tree and then focus on a "launch within a launch." In other words, youll
  • launch, bring in plenty of customers, and then carefully upsell those customers while the post-launch momentum is riding high. This can also work really well for you if you have a medium to large tree.  If youre planning a big launch, go with at least a medium-sized tree. A large tree is probably best, and worth the extra planning, product development, and testing. Youre going to invest a lot of time, energy, and planning for a big launch. So optimize for the most revenue during the launch and use a large tree.  NEVER FORCE a big tree if you dont have high quality, value-driven products to back it up.There is nothing worse than being dragged through upsell after upsell of low-value junk products. It makes you look bad, and it really annoys your customers — it will backfire!  Remember the "launch within a launch" strategy. By planning to introduce some upsells after you launch, while momentum is high, you can save some of your best upsells for later.E. Where Should You Place Offers on Your Tree?Remember, a bump is an extra product offered right at the point of checkout.#1 Bump Recommendation: Make your bump a recurring offer, with the firstmonth FREE.#2 Bump Recommendation: If youre going to offer a membership or subscriptionwith a one-time payment, make it FREE to try for at least seven days. The automaticre-billing kicks in after those first seven days.F. The Pricing LadderThe Price of Your Initial Offer Should Always Fit the Niche and the Type of ProductThe Price Has to be Congruent with its Perceived ValueThe Rules of Price IncreasesThe percentage of sales you make from your visitors — will depend on two things: 1. The value of the offer. 2. The price point where the customer enters the sales process.
  • Gradual price increases and decreases are well-tolerated by customers if you follow these rules…Rule #1 - Gradually Increase the Price of The Offers During the Actual Sales Process, Especially Between the First and Second OfferRule #2 - Your Highest-Priced Offer Should Have a Logical Price Relationship to Your First OfferRule #3 - Price Much More Gradually When Starting with Free DownloadsRule #4 - If the Customer pays anything for the Initial Tryout — Even if It is a $1 Trial —Your Upsells can be Priced HigherG. Five Simple Pricing FormulasProposed Pricing FormulasEvery niche and product is different.The only true way to know… 1. Observe (copy and paste) what the top companies in your industry are doing. 2. Test!Formula #1 - Double the Value, and Cut the Price in HalfFormula #2 - Simple Bump PricingFormula #3 - 3X Rule: Price the First Upsell and BeyondFormula #4 - The 70% RuleFormula #5 - The 50% Downsell RulePayment Plan Pricing RulesThere are two key rules to remember when you put a payment plan in place.