The 5 Key Components Every Launch Must Include To Be Successful
A good launch strategy is an important part of every successful business. A launch is a marketing campaign that shares an offer you have, so you can get people interested, excited and ready to enroll in your program or service during a set period of time. This can be for your 1-on-1 coaching, your online program or anything you have to offer your audience.
In this episode you’ll discover:
- The 5 key components every launch must include to be successful
- Why implementing these key components, a minimum of four times per year can increase sales as much as 25-50%
- How these strategies can increase launch momentum by making more sales on day 1, thereby, giving you social proof that your program is in demand
Before we dive into today’s episode about launching, we wanted to share some exciting news with you. We are hosting a brand-new free training in a couple of weeks, and you’re invited to join. It’s called:
3 Secrets Every Wellness Business Owner Needs to Know to Grow a Thriving Practice in 2023
If you feel like your dream clients aren’t seeing or hearing you no matter how much content you create or how often you show up on social media then you’re going to love this free training.
During the training, you’ll discover:
- The #1 strategy you MUST have in place to stand out and attract a steady stream of new dream clients that want what you have to offer
- How to easily and effortlessly lead prospective clients from finding you online to enrolling in your paid programs (NOTE – this is easier than you think once you apply our 3-step system)
- The biggest obstacle that is likely preventing you from filling your coaching programs that you probably aren’t even aware of (and what to do to fix it)
There are two dates and times to choose from to make it easier for you to join us live.
CLICK HERE to choose the date/time that works best for you, and we’ll see you there!
Okay, now let’s dive into the 5 Key Components Every Launch Must Include to be Successful.
First, let’s chat about what a launch is so that we’re starting on the same page.
A launch is a marketing campaign that piques interest in an offer that you have, so you can get people interested, excited and ready to enroll in your program or service. Think of it as a special promotion that is only available at certain times of the year, so it makes it makes it more exclusive. We’re going to share ideas on how to do this in just a bit.
We recommend launching once per quarter. That’s 4 times per year you’ll create a marketing campaign spotlighting one of your programs that includes some, or all, of the key components that we’ll be discussing here today.
Launching actually has 5 key components that set the sales process apart from anything else you sell during the year. It’s a special offer that isn’t available all of the time. Instead, it’s available approximately 4 times per year.
Key Component #1 – Open & Close Dates
Every launch needs an open and close date. People love deals and special events when it comes to purchasing and one of the most important is the date that it starts and more importantly, the date that it ends.
A deadline, or closing date and time, encourages people to buy, because time is limited to act. When there is a set timeframe for them to purchase, more people will sign up. Without a deadline or urgency, people will put things off until ‘someday’. People are natural procrastinators so conveying a deadline as part of your marketing strategy is a sure-fire way to grab their attention and get them to act.
Key Component #2 – Urgency & Scarcity
One of the most popular launching strategies inlcudes ‘urgency & scarcity’. In fact, one of the most well-known cases of urgency and scarcity is Amazon Prime Day. It is a 24-hour period when you can get special deals and pricing on many of the items you’ve been wanting to purchase on Amazon when you are a Prime member. To make this offer even more compelling, Amazon always uses this disclaimer: If you’re shopping Amazon’s lightning deals, be aware that those short-term, limited quantity deals will likely end before the full sale does.
That is a GREAT example of Urgency & Scarcity. For most launches or special promotions for health coaches, we recommend running it for 3-7 days.
We can all use this strategy in our business to make more sales of our programs in a few different ways. The next three components will describe some of those options.
Key Component #3 – Time-Sensitive Bonuses
This is one of the most used, and the most successful, components to a profitable launch. Inside the Wellness Business Accelerator program, we teach our students how to use time-sensitive bonuses to sweeten their offer so they can make more sales during the open cart period.
A time-sensitive bonus is something that is available only for a short period of time, (during the time that your launch is running), and once the doors close it goes away and isn’t available any longer.
Using this component as part of your launch strategy can increase sales by as much as 25-50%.
Key Component #4 – Special Pricing
This is such a great way to get your ideal clients to stand up and pay attention to you and your program during the launch period. However, special pricing doesn’t always mean a discounted price, although it can definitely include a coupon code or something similar.
For this key component we would like you to think in terms of your entire launch offer. Beyond a discount code, special pricing could include the value of the time-sensitive bonuses you’re offering, it could include an added perk that you don’t usually offer like a private call with you, or it could be something like a bundle of programs offered at a special price. Any way that you decide to package your launch offer can be considered special pricing because of all the reasons we’re talking about here today.
Key Component #5 – Limited Spots
It doesn’t matter if your launch offer is promoting one-on-one coaching or a group program, limiting the number of clients that can enroll is a surefire way to make it more successful. This is also considered part of the urgency and scarcity component we already discussed but we believe it deserves a unique spot on our list because it is so powerful.
A limited number of spots often increases the number of sales you’ll make on day #1 of your launch simply because your audience does not want to miss their opportunity to grab one of those spots. As we mentioned before, it is human nature to procrastinate until the last minute when purchasing something so adding a layer of urgency and scarcity by limiting the number of spots available with your offer takes much of the procrastination out of the equation and gets people taking action.
Making more sales on day one is so good for our mindset as business owners and offers us the unique opportunity to brag about it in our following marketing messages in email and on social media.
Let’s say you have 25 spots available in your program and 10 of them sold on day one. That means that 40% of your spots are filled in just one day. If you’re running a 5- or 7-day campaign and almost half of your spots filled on the first day and you let your audience know that they are going to be even more eager and excited to join sooner rather than later which is a win for everyone. I can’t think of a more compelling marketing strategy to get people to take action.
Recap
We are true believers in embracing these 5 components when launching your program whether it’s for the first time, 5th time or 25th time. We use it in our businesses all of the time and have helped many of our Wellness Business Accelerator students enroll more clients by doing the same. Learning how to be a better launcher by putting together an effective launch plan will make all the difference in how many clients you enroll into your program.
Be sure to save your spot for our upcoming free live training (choose Oct 17th or 18th):
3 Secrets Every Wellness Business Owner Needs to Know to Grow a Thriving Practice in 2023
Hope to see you there!
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