For the past month or so, we’ve been talking about the art of product launches.
Of course, this led to a discussion about the main purpose of these launches. I talked about how they aren’t about making a bunch of money per se, although that’s nice… rather, they’re about customer acquisition. Launches that make a ton of money are a short-term play. Launches that attract plenty of loyal customers are a much better way to go.
Last week, I shared about the “Funnels Inside Funnels” strategy for launches. This treats your launch funnel as the “inside funnel,” wrapped up in your main “outside funnel.” In this strategy, the goal of the launch is to move customers from the front end of your launch all the way to the back end of your main funnel.
In other words, they go from “person out there in your market” to “dedicated return customer.”
It’s a long journey to get there, but it’s worth it. These regular customers form the backbone of your budding business. They provide an extra income base during your big launches, but more importantly, they provide recurring revenue on your subscription-based products.
Building recurring revenue is the name of the game. With recurring revenue, you have a business. Without it, you have a hobby.
So how does this long journey start? Right at the front end of your funnel. That’s why this week, we’re talking about the art of front-end offers.
By the way, if you want to listen to this lesson in podcast form, follow this link.
The Humble Front End Product
They say you never get a second chance at a first impression. In the “Funnels Inside Funnels” approach, the front end of your launch is the first monetary interaction a customer has with your business. Everything else was a warmup. This means the impression they form of your business during their first launch with you will set the tone for the rest of your relationship.
Social scientists will tell you that starting with a good first impression makes any problems that arise in the relationship easier to navigate. The opposite is also true: starting with a bad impression gives subsequent positive experiences less impact. Humans tend to remember the first and the last item in a sequence better than the rest, and the same goes with their interactions with your brand.
So make the front-end product amazing, and they’ll remember it for the rest of your relationship.
By the way, your ability to provide tremendous value upfront also extends into business partnerships.
How to Make Products Customers Not Only Buy… But Love
Here’s how to make amazing front-end offers:
- Pick a Tool and Stick With It
When I started out in online business, I became obsessed with tools and technology. Maybe you can relate. I spent many a day researching different options for my website, for members areas, for launch management, lead management, operations, you name it. When I started my podcast, I even became briefly obsessed with microphones and recording software.
Now that I’ve been doing this for several years, I realize that much of that time was wasted. Instead, I recommend simply picking a tool for your launches and sticking with it. There’s no shortage of viable options, and you could spend forever researching and trying out the perfect one for you.
I recommend checking out ClickFunnels or GrooveFunnels and going from there. You can always adjust in a year or so.
- Understand the M.I.L.K. It Method
Once you have your primary tools sorted out, you need to understand the art of market research and product development.
I highly recommend you refresh yourself on the M.I.L.K. It Method; this is my signature strategy to turn your product, skill, or idea into a major cash cow. It stands for Market, Idea, Launch, and Ka-Ching!
The success of this method hinges on how well you understand your market. Your idea will succeed when you have a deep understanding of the pain points of your select group of buyers and know how to fix them. Those who have mastered the M.I.L.K. It Method can offer a solution to their market’s problems right around the same time the market realizes those problems exist.
Take the time. Do the “grunt work.” Gain an understanding of your market’s demographics, goals, pains, personalities, and worries. This will pay off like none other, but you have to keep your finger on the pulse at all times.
- Refocus on the Fundamentals
When you have your tools and understand your market, it’s time to build something they’ll buy.
My business partner, Nick, and I found the most success when we focused on the fundamentals. Most of our market is comprised of freelance marketers. Some are quite experienced, but most are new. They’re trying to get their foot in the door in their market.
So, Nick and I introduced products centered on the most fundamental thing they need: their first set of customers. These products sold like hotcakes for us.
As you develop your product, don’t overthink it. Since you know their problems and pain points, you can envision the solution. With that solution in mind, break it down into its most fundamental pieces, and offer the very first one. This will cast your net as wide as possible, and attract the kind of people who will become loyal customers. After all, if you solve one of their fundamental problems, they’ll look to you when it’s time to move onto something more advanced.
Once you’ve made it to this point, all you really need is a catchy name. Having a catchy name isn’t trivial, but instrumental to your front-end product’s success. If you want a guide on how to come up with something, I highly recommend reading The First Hundred Million. The author gives principles on how to name winning products… plus he has an amazing story.
For more secrets the so-called “gurus” won’t tell you about making money online, take a look at my podcast: