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There are two ways to sell your product:
Way #1: Great marketing
Way #2: Great product
Major issues with both...
Way #1: Great marketing
Way #2: Great product
Major issues with both...
Great marketing: 1. Attract leads
2. Build relationship
3. Tell about product
Good at getting product into orbit. Keeps it there as long as you put high levels of energy into it.
Problem: If you let off the gas for 1sec, business crashes.
(Sidenote: Most course creators flame out by year 4 because their product is a dumpster fire.
They focused 99% of energy on marketing. So the second they get bored or distracted the whole thing comes tumbling down.)
They focused 99% of energy on marketing. So the second they get bored or distracted the whole thing comes tumbling down.)
Great product:1. Solve a big problem
2. Blow clients minds with results
3. They tell their friends and buy
Great products generate word of mouth and sell themselves
Problem: Too long to be found and pick up momentum. Most don’t survive long enough to make this work.
What’s the solution?
Phase #1: Launch product
Launch when product good enough. Generate sales and profit ASAP.
Phase #2: Perfect product
Reinvest into perfecting product. Until it’s so remarkable that it sells itself.
Phase #1: Launch product
Launch when product good enough. Generate sales and profit ASAP.
Phase #2: Perfect product
Reinvest into perfecting product. Until it’s so remarkable that it sells itself.
5 Standards of a Great Product:
1. Client get <defined> result fast
2. Client give raving testimonial vid
3. Client refer 2 friends
4. Client rebuy 3x
5. Client say worth 10x price
Set a goal of 90% of clients hit these marks within 24 months of launch.
1. Client get <defined> result fast
2. Client give raving testimonial vid
3. Client refer 2 friends
4. Client rebuy 3x
5. Client say worth 10x price
Set a goal of 90% of clients hit these marks within 24 months of launch.
This will produce a word of mouth engine that sustains and grow your product for years.
Any marketing you throw on top is a bonus.
Any marketing you throw on top is a bonus.
Want to play around with the numbers?
See how far marketing can take you. Then see how much further an amazing product can take you if you invest the time.
Here is the calculator we use to track our results and project: https://docs.google.com/spreadsheets/d/1uBdNRrqcsnbS5Bzsj1MZxk6x2XzpgpCKEmrLPW1E5Zk/edit#gid=1854549498
See how far marketing can take you. Then see how much further an amazing product can take you if you invest the time.
Here is the calculator we use to track our results and project: https://docs.google.com/spreadsheets/d/1uBdNRrqcsnbS5Bzsj1MZxk6x2XzpgpCKEmrLPW1E5Zk/edit#gid=1854549498
