🖐 Happy Mercoledi!

Issue #63 is a 3.0-minute read.

“Psst, don’t ever let another driver…”

You’re listening to your favorite podcast, driving to the grocery store, and you get that anxious feeling the driver behind you is about to lose it.

They’ve been crawling up your bumper’s butt for the last 3.2 miles.

As soon as you get to the stop sign, the fireworks explode.

First, they give you eight seconds of Raging Horn in C-major.

You sneak a peek in your rearview mirror.

Their arms are flapping in chaotic circles.

They’re yelling at you like it’s the first day they can talk after a two-year vow of silence.

You can’t hear a word they’re screaming, and still you know exactly what they’re saying.

And then, for the cherry on that anger sundae, they press their big, bad, hairy middle finger against their windshield.

When you feel that love, you want to give them something back they’ll remember, right?

Don’t!

“Nothing good happens when you let your emotions get the best of you.”

The same angry vibe that turns drivers into idiots is exactly why their 1- or 2-person business is in freefall.

If I had an M&M for every business owner I watched make a rash decision before thinking it through, I’d never have to make another trip to Wally-mart for Halloween candy.

The #1 reason I see business owners get unhappy is when they rush the launch of a new product or service and it flops faster than Madame Web.

They get dejected, start to pout, lower the price, and then wonder what the hell went wrong.

We can do better. 

Especially when it comes to your high-end, premium products.

So, before you start driving 90 mph toward your next product launch, let’s make sure you have tons of lead time and a smooth, sophisticated ride.

Here’s how: 👇

5 Gears to Put Your Premium Product Launch on Cruise with Style and Class

Your premium launch takes a refined offer, smart planning, and the right pricing strategy.

Here’s how:

1. Check out your current offers

You should have one premium offer that’s a high-ticket Do It For Them service and one mid-tier offer that’s a DIY.

As a premium brand, you want to present fewer, more elite items.

If it’s obvious which of your current offers is a poor performer, cut it loose.

It’s better to put a new item in your showroom than to let a bad one get dusty.

2. Take a peek at your top competition

Stop by the website or landing pages of your top three competitors and check out their offers.

(We built a brand competition grid in this issue.)

What are they missing that you can cover with your new offer?

You have to beat them on the positive transition your product-service delivers, not price.

Think of your favorite high-end restaurant or hotel and how they make you feel.

Create that feeling and transition for your client in a way that your competition can’t easily replicate.

3. Listen to your focus group

Ten to fifteen buyers in your target audience is perfect.

Get them your offer early so they can try it before anyone else.

Think of it as a soft opening for a new luxury hotel or resort.

Let them test drive it and give you the straight scoop on what they like, dislike, or don’t need.

Give them a nice reward for their help.

4. Create your marketing-launch timeline

The timeline for a premium product launch is longer than for a bargain item.

Give yourself at least three to six months to plan and put in motion your marketing strategy (social media, website, countdown emails).

Your premium offer needs time to build suspense and word-of-mouth buzz.

5. Price it and put it on cruise

Pricing your premium offer hinges on your current offers and your competition.

Your Do It For Them offer is in the range of $2,500-$10,000.

Your DIY offer (a digital course or community) should sit in that range of $500 to $1,000.

Now that you’ve done the hard work go ahead and launch it, watch it, and take yourself out for a celebratory dinner.

The 5 Gears:

• Review Your Current Offers

• Map the Competition

• Build the Focus group

• Develop a Marketing Timeline

• Price it

📢 A subscriber made a shout-out request for their home city in Helsinki, Finland, below. Wow!

Stay curious in your business and keep opening doors.

-Erik

P.P.S. If you dream of getting to $150K of sales, let’s do it!

When you’re set, here’s your custom, 90-minute consulting session to bring you there. Faster.