When releasing a new product to the marketplace, one of the first questions asked is how to product launch. There have been many strategies and tactics used over the years, as marketing people have devised their own ways of doing things, but one that has been used repeated in many different guises and has stood the test of time is the Product Launch Formula.
This is a strategy that has been made popular by Jeff Walker who coined the term after taking what Hollywood and the movie industry were doing for decades. It is a strategy similar to what Apple uses when launching any of their products, and has generated great success with the iPad and the more recent iPhone 4 launches.
But what is this strategy to product launch that has generated billions of dollars for Apple with their products, and makes hundreds of millions of dollars worldwide for entrepreneurs and online marketers every year?
It can be simplified into 5 steps:
- Create Or Find A List Of People
- Create A Compelling Story Around Your Product
- Give People An Amazing Sample Of Your Product
- Create An Event With Your Launch Date To Create Excitement
- Take The Product Off The Market To Increase Scarcity
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