MBA1112 5 iPhone Launch Strategies to Apply to Your Business + Free Ride Friday!

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Hey hey hey. Today is Free Ride Friday so make sure you hang on to the end of the episode to hear who won this week's free ride. Every Friday we give away a lifetime membership to one of our programs and all you got to do is leave us an itunes rating and review to enter our weekly random draw. Every Friday we do this random draw on a Friday episode with everybody who's left us an itunes rating and review and every week somebody wins and you automatically enter the draw for every week until you win. So all you got to do is leave us some love with the itunes review so you can win a lifetime membership to one of our programs. This month we're giving away easy course, our $500 course on how to build your own online course for yourself in 30 days. You can check it out at EasyCourse co. Alright, let's jump into today's episode. Hey O. Welcome to the $100 MBA show businesses best practices shared with you every single day with our daily 10 minute business lessons for the real world. I'm your host coach your teacher Omar Zenholm. I'm also the co founder of the Hundred Dollar mba, a complete business training and community online. And in today's episode you will learn five iPhone launch strategies that you can apply in your business. Yep, Apple just released their new iPhones for 2018. The iPhone XS, XS Max and the XR and iPhone goes through a process of launching these phones every single year. And there's a method to their madness. There's certain strategies they implement in every time they launch that you can apply in your own business. I've extracted these strategies and I'm going to break them down to you in today's episode. Some of these things a lot of people just don't notice, but there is some really good marketing reasoning behind it to help them have a better launch, better sales, and get their customers coming back to them year after year. There's a reason why Apple is the most profitable company in the world. They know what they're doing. So let's borrow from their strategies and make our companies more profitable. Let's get into it. Let's get down to business. According to Apple Insider, Apple holds 80% of the profit share of the whole global smartphone market. That means all the money that's made around the world when it comes to smartphones, all the different companies, Samsung, lg, Nokia, all the Chinese markets. If you total that wholesome amount, 86% of that pile of cash is grabbed by Apple. Apple owns so much of the market share now, you might be saying, well, I don't think 86% of people have iPhones. Well, that's what's interesting in terms of the actual phones in people's hands, only about 24% of the population have iPhones. So how are they making all this money? Well, they make more profit per phone. While other companies are working on small margins, Apple is making a ton of money. And it's not only because they have a great product, but because they have return customers. They invest in great technology, so they have some really good products that they can really price high in terms of value. Ask a photographer or a videographer what their favorite phone is, they're going to say iPhone because they love the camera. You get more bang for your buck with the quality of camera with iPhone. And because it's so much better than every other phone, with exception to maybe one or two other phones, they're able to charge a premium way above the other price points. But putting all that aside, the reason why Apple's so successful and have 86% of the profit share, it's because they know how to market themselves. They know how to launch their products properly. They've done it time and time again. They're the leaders when it comes to launches. It's an event. The anticipation for the Next iPhone or the next watch or the next MacBook is insane. Bloggers and reporters and YouTubers are competing to see who can, you know, get the information out there first. So in today's episode, I'm going to share with you the five launch strategies I found to be very, very powerful that Apple uses every time they launch their iPhones that you can implement in your business. Let's start with number one. Now, this one may not be that obvious, but it's any improvement is a reason to market. So you may have improved your new software, you may have improved your new website, your new course, your new consulting package, whatever you're offering, you have made an improvement, you've upgraded it in some way. And sometimes we neglect that opportunity. That's an opportunity to make some noise to market. You have something to talk about. Now. If you take a look at iPhone's latest release, the XS and the XS Max, these are slight upgrades from the iPhone X. Yes, the iPhone XS Max is a little bit bigger in terms of the screen, but essentially it's the same phone from last year, except they made some improvements to the camera, to the processor. The battery life is a little bit better, but it's nothing revolutionary. But are they just going to sit in Apple headquarters and just sit on those improvements? No, they're going to celebrate these improvements and, and make a big hoopla and launch. So if you have any improvements in your business, in your product, in your service, make a big deal out of it. Use it as an excuse to market, run some ads, email your list and say, hey, we made these improvements. This is the all new, improved version of your product. You'll hear Apple all the time in their launch saying, this is the best iPhone ever. It's such a powerful statement, but it just means they made an incremental improvement. All right, let's move on to launch strategy number two, and that's tier releases. When people are a fan of your company, of your products, of your services, they can't wait for the next thing. So if you're going to be releasing a new product that has different tiers like the iPhone X, iPhone XS Max and the iPhone XR. In this year's releases, the XR is the cheapest one, it's the lowest priced one, while the XS Max and the XS are, are the higher priced one. Now, when you're releasing these products, these tiers, you're gonna wanna release the more valuable, the more expensive ones first. Why? Because Apple knows through experience that people can't Wait for the latest iPhone, they can't wait for the latest product. They wanna use the best and the most improved product always. So if you release that first, people are gonna spend their money on the more valuable, higher priced product. A lot of people are not going to want to wait for the xr, which comes a month after the Xs and the Xs max. But those who do wait, those are people that are going to pay less. And that's totally fine. And it gives you another opportunity to launch and make a hoopla and to market. Another reason to toot your horn and let the world know about your business. Now I said, Apple learned this through experience because the year before this they released their lower priced one first, which was the iPhone 8. Before they released the iPhone X, the iPhone X was delayed and iPhone X sales sort of suffered because of this. People wanted to upgrade their phone and they said, okay, I'll just go with the eight, I don't want to wait for the X. And therefore when the X came out, people just didn't buy because they already upgraded their phone a month ago. People that don't wait are more willing to spend and people that do wait are more willing to save. That's a good rule of thumb. So put your more expensive tiers out first and then go with the lower tiers. Number three, have a staggered launch. I love this strategy by Apple. Now Apple, when they launch their products, especially the iPhone, they don't just say, okay, it's available now, here, you could buy it. They have a period of pre order. Now there's a logistical reason why they do this. So they can pace the orders and make sure that they can deliver. But it also creates a sense of buzz and it creates a sense of scarcity. Because people that pre order understand that the earlier their pre order, the faster they're going to get the product and they'll be the first to get it. You're gonna have a group of people in your marketplace that want your latest product service. Whatever you offer first, they want it out as soon as possible. And then you're gonna get people that are willing to wait a little bit so they can see the product in action. They can see people actually have the product in their hand or in the store or on your website. So stagger your launch, have a pre order, say, hey, you can start pre ordering the new product today and you'll receive it two weeks later. And then after that two weeks is up, then you can, they can actually just buy it straight out of your website or in your Store. This allows you again to celebrate the launch twice. It also allows you to, you know, even out the flow of traffic so that way you're not overwhelmed. I love the staggered launch approach. Number four, the fourth launch strategy that Apple uses with their iPhone is value versus price. Apple is not seen as a company that sells cheap products. They're seen as a luxury brand, really. And that didn't happen by accident. It's because they emphasize value and therefore their price becomes justified even though their phones are expensive. Now how do they do that? Well, they make sure that you know how much technology is in each product, how much work is put in there, all the things you're going to get, how you're going to use this product, how much benefit you're going to get it, how your life is going to change when you get this new iPhone. If you watch their keynote address, the whole keynote is just going detail after detail. They go into the processor and the camera and the screen and the resolution and the animojis and the memojis and all that stuff, right? And by the end of the keynote you're like, wow, this thing is incredible. It does everything. The technology is way beyond anything I can comprehend. In fact, it's like having a computer in your pocket. There you go. So when they reveal the price, it's a price of a computer in your pocket. You, you're not totally shocked. You're like, okay, I know it's expensive, but man, there was a lot of stuff they showed us. They know how to make sure they stack the value so the price is justified. They know how to show you how much you're going to get, how much you're gonna benefit when you buy an iPhone. And a lot of us as small business owners, we do not do this enough. We don't show the value of our product enough. We want to stack the value as much as possible. Show them how they can use it. Show them how their business is going to be better, their life is going to be better. Everything's going to be better with your product. Now I'm exaggerating a bit, but you have to push that. You have to make sure they fully understand how amazing your product is. And when you do that, your price is going to seem insignificant.

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All right. The fifth iPhone launch strategy that you can use in your business is specifications and details matter. Whether you're selling a T shirt, a software, a course, consulting, it doesn't matter. On your site, on your website, you have to make sure all the details are there, all the specifications, how many courses or how many videos are in your course, how long are the videos? How many hours in total? If you're selling a T shirt, what is that T shirt made of? Where was it made? Is there anything special or custom? Is it using organic cotton? Make sure you include every detail about your product or service on your website. Why? Because everybody now is an informed consumer. They want to get as much information about your product. And the more information you can provide, the better because it's going to allow them to feel like I'm getting a lot for my money. I'm making an educated purchase. And providing that information even in, like in an FAQ page, is really going to help. The other thing is that everyone is a part of the media now. Everybody is doing reviews on their blog and on YouTube and they're going to want to compare your product to your competitors. And if they don't have the information to do that, your competitors will win that comparison. This is why Apple releases all the details of all their new phones before you can even buy it. On the website, it'll tell you every single detail and you can compare it to other phones and things like that because they know people are going to want to use that information to review the product, to talk about the product. They want to give that information so they don't misinform the audience, misinform the public. Now you might be thinking, who's going to make a YouTube video about my product? Don't assume that people do look at your business and want to talk about it. At the very least, it could be a buyer that's comparing you to your competition. Well, there you have it, guys. There's the five iPhone launch strategies that you can use. Number one, any improvement is a reason to market or to launch. Number two, price tiers. When you release, make sure that you have some sort of delayed release for the less expensive ones versus the higher priced ones. Number three, Staggered launch. Can you incorporate a pre order in there? Number four Value versus price. Make sure you stack the value. And number five specifications and details matter. That's today's lesson. But today's episode's not over. It's Free Ride Friday. I gotta give away a lifetime membership to ezcourse. Let's see who won this week's Free ride. And the winner is. Paula 84, all the way from Finland. Paula says positive business five stars. I love the positive energy and the condensed information. The topics provided are good and it's an effortless way to learn about business life. If you're a curious newbie like me. Thanks Pala84. Really appreciate the review and you are our Free Ride Friday winner. All you gotta do is email me at omar00mba.net so we can hook you up with the Free ride to Ezcourse. Everybody can win. Just leave us an iTunes rating and a review so you can enter our weekly random draw. Do that right now. Leave us a review so you can win. Maybe next week. Listen in on Friday to see if you won. Alright, before I go, I want to leave you with this. There are business lessons everywhere. If you see a successful business you admire, take a look at the way they do business. Where they market, the way they sell, the way they price, the way they run their website, all that kind of stuff. They've spent a lot of money and time and effort and experience to get to that point. You can fast forward and take some shortcuts by learning from their experiences. If you open your eyes and your mind. I hope today's episode was helpful. I'll check you on Monday's episode. I'll see you then. Take care.

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