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This podcast episode might just take you by surprise a little bit. The topic? Live launching. Yes, you heard that right. Despite our well-documented skepticism towards live launching, we still acknowledge that live launching is a very prevalent tactic that most business owners try … until it fails.
The trouble is, live launches are a high-stakes game. And for some entrepreneurs, the risk can be as high as gambling away six months or even a year’s worth of income on a single throw of the dice. So if a launch fails, how do we recover? Instead of making decisions out of desperation (and risking long-term damage to your business), it’s important to see it as an opportunity to learn. Join Nicki and Kate as they explore what a failed launch can teach you about your business, your audience, and yourself.
Looking for closed captioning or a transcript? Watch the episode on YouTube!
A Sneak Peek at the Episode
[2:26] Most business owners are told to live launch. And so they do it…until it fails. In this episode, Nicki and Kate are discussing how to bounce back (or at least learn) from a failed launch.
[4:44] Whenever we don’t get the results we want, there is an opportunity to learn. Any feedback (good or bad) from your live launch can be used to improve your offer and your business.
[7:37] If you don’t hit your numbers, slowing down is important because working from a place of desperation has the potential to hurt more than it helps—especially if you extend your deadlines.
[10:50] It’s a good idea to send out a survey to get feedback from people who didn’t purchase. If they give price as the reason they didn’t buy, try to dig deeper into the real issues. (Remember: if we want something badly enough, we’ll find a way to pay for it!)
[13:01] By talking to people, you might find your offer was not in front of the right people, not in front of enough people, or you were not speaking to your audience in the right way.
[16:06] If you don’t have a system for doing market research calls, there’s a higher chance the information you get back will not be useful.
[17:29] If a lot of people give price as the reason for not buying, it suggests you might not have communicated the value of your offer effectively. Evaluate your messaging to ensure it conveys why people should want your offer (and nobody else’s!).
[19:50] You always have to give people a deadline and it has to be a real deadline. People need urgency to act but if it’s fake, then you’ll start to lose integrity.
[21:20] To understand what “failure” means to you, it’s important to know your numbers. How many people do you actually need to purchase? What is the conversion rate you’re expecting and is that realistic?
[23:01] To get predictable income, you need an automated sales system (whether you plan to continue doing live launching or not).
Mentioned on this Episode
Related Links
- This New York Times Bestselling Author Uses a Circuit to Sell Her Course – Ruth’s Story
- Live Launching Tips
- How To Sell Your Product Online…Without Live Launching or Evergreen
- From 4 Years of Live Launching to Consistent Revenue, Less Stress, and More Time – Emma Kate’s Story
Must-Hear Takeaways
As with every episode, we highly encourage you to listen to the entire conversation! But, here are a few of the highlights:
“Yes, if you had a disappointment, feel those emotions. Then, when you are able to, take a step back and start looking through all of the information you got because of that launch.” Nicki
“Working from a place of desperation really has the potential to hurt more than it helps. Again, using the “we’re extending the deadline” or “we have X spots”, which would include extending the deadline essentially, your audience is learning not to trust what you’re saying. And so that can have more damage in the long run and yeah, would extending the deadline allow you to hit your number? Potentially, but what damage is that doing in the long run if you’re going to launch next time? And now you have a whole bunch of people who think, ‘Well I don’t have to show up and purchase’ when they open the launch. And when you’re creating new offers in that desperation, I’ve seen a lot of people undercut their core offer.” – Kate & Nicki
“If you want to take it and work on it for you next live launch, great, awesome—your business, you choose! But these are things that will benefit your business no matter what, whether you live launch, whether you decide you want more consistent income, whether you join us in CSS—if you do, great we’d love to have you, if you don’t, no problem, your business! But these are all fundamental business elements that you need to consider to improve your sales, no matter what.” – Nicki
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About the Energize Your Online Business Podcast
Are you sick of the stress, chaos, and risk of trying to keep up with the next big thing in digital marketing? And what about the confusion of trying to scale, build a team, and still try to make sure your business is worth the effort it takes to run it? You are not alone.
Join Nicki Krawczyk, a 20-year marketing veteran and owner of a multi-seven-figure-per-year digital training company and her co-host Kate Sitarz as they bust through the online business industry echo chamber to talk about how to make consistent, predictable sales and how to scale your business with simple and stress-free systems.
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