Yikes, it seems that Im forever staying up late, either working on some new product, researching a niche or learning about new techniques. Over the years, whilst I found education was a real chore when growing up, as I have "matured" I have grown to love learning. In particular in the product creation and "expert" industry. I love to learn about, better marketing strategies, better systems, or just gaining greater wisdom from others in my Niche. Talking of getting greater knowledge, for those not in the information product industry, or those that are new to the industry, April and May, seems to be the silly season of product launches. When I say silly, what I mean is that there are just tons of them. Which is great in a way, as you get access to all this wonderful info, revamped with new tips and tricks. But be warned, it can be overwhelming and if you don't watch your budget you can be left in the same position as you were before you bought them except a few thousand dollars lighter in the bank.
I admire the launch techniques that are applied these days, and our (my companies) launches are closely mirroring the product lunch formula used. Incase you wondered, I try and learn all my stuff from many of the "top" marketing guys. I invest in pretty much every offer out there. Actual content within some of the products, is a little flakey, but on the whole its pretty good and the launch process is awesome.
I've noticed a couple of new things this year when it comes to launches.
1. You put a version on your Launch.
Why? well I believe there are two key reasons i) version 2.0 for example implies that there was a version 1.0 and you have the upgraded model. So you have the tried and tested system, the one thats been through beta launch, has had a full launch and is now on the second version of this tried and tested model. ii) the second reason is that it implies that its a System. Almost "software" like. A Turn Key product that is going to help you get the information you need faster and with less effort than anything else.
2. Joint Ventures and collaboration.
More than ever this year I have seen the top "guru's" using JVs in their Launch. Whilst some are actually working together in the product itself, I've also seen an increase in cross promoting and "ad swaps". Whilst this isn't unusual, these joint ventures have been used to a new level.
Why? well, your competition is your ideal partner. Someone interested in cooking, doesn't typically only buy one cookery book. Over the years they buy lots. The competing Chefs who release the books can work in collaboration to ensure you buy both books, leaving all parties happy. To assist this collaboration further, If you have a niche within the niche, your competitor is no longer your direct competitor.
We all buy most things to solve something. Harvard marketing prof Theodore Levitt illustrated this difference with this straight forward analogy: “People don’t want to buy a quarter-inch drill. They want a quarter-inch hole!”. I've noticed that some launches focused too much on demographics segmentation and qualitative research methods, thus marketers are improving their products in ways that become mainly irrelevant to their consumers needs- focusing on the drill, not the hole. If you ensure your information product solves or accelerates the learning process then Im sure it will be OK. Our appetite to learn something and achieve greater things with knowledge and wisdom is what we strive for. Information and data can be found on the Internet for free. Knowledge and more importantly wisdom is worth much more. A System to get the wisdom fast-tracked into a better life is what people are buying.