MBA1435 Q&A Wednesday: How can I successfully pre-launch an online business?

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Hey O welcome to the $100 MBA show the bus business answers you're looking for every day with our daily 10 minute business lessons for the real world. I'm your host, your coach, your teacher Omar Zenholm. I'm also the co founder of the Hundred Dollar mba, a complete business training and community online and today's episode is a Q and A Wednesday episode. On our Q and A Wednesday episodes I answer a question from one of you, one of our listeners. If you have a question you want to ask, just email me over@omar100mba.net I'll answer it right here on Q and A Wednesday. Today's question is from Eric and Eric asks, I just launched an online business, a subscription box business. Now I know I should have done some sort of pre launch but wasn't entirely sure how. What's the best way to pre launch an online business? Great question Eric. And hey, it's not too late to learn because this is just the launch of your business. You're going to be launching other things in your business, products, services, features, major updates, and you can still use these strategies when you do those. Pre launching a business is important and it allows you to capitalize on your launch and try as as possible to bring in as many new customers when you launch. A launch is really a celebration and really an excuse to market and build some buzz for your business. But how do you do that? How do you actually craft a pre launch to get interested people buying on launch day? We get into all that in today's Q and A Wednesday. So let's get into it. Let's get down to business. Product launches have been around for some time, even before the Internet and even before Internet businesses. You can remember when the iPhone was launched or when Windows 95 was launched. And before that launch there's something called a pre launch. This is preparing for the launch. This is collecting and gaining the interest of potential customers before you launch. Why? Because an audience is really what you need in order for you to have the most successful launches possible. The larger the audience, the better chances of success. And of course, a targeted audience. You want people that are interested in what you will potentially launch. In fact, there are people that are experts at this and made their whole living in business out of the idea of a product launch. And in that sequence is the pre launch. The most popular expert is Jeff Walker and he actually has a book called Product Launch Formula. He has a course, it's like $2,000. But I recommend you pick up the book before you get the course because the book really walks you through the whole procedure. But in today's episode, we're going to focus on the pre launch. And what pre launch does is it allows you to start seeding, or what's called planting seeds in your audience to allow the flowers to grow. And the flowers is obviously the product when it launches. What do you want to do is you want to drip feed information and start educating your audience about your product, your service, your business. And this could simply be done by having a simple landing page which talks about your product that's about to launch and why they should be interested. The simplest form of a pre launch is a landing page with a video. And this video doesn't have to be long. It'd be five, ten minutes walking people through this new business, this new offering. And then the call to action is, hey, leave your name and email address to sign up for updates for the launch. And for a launch offer or discount or bonus, you're really incentivizing them to sign up so they can know as soon as the product launches. You might have a window during the launch, like a week or two where they get a special offer. And if you don't want to miss that offer, you want to be on this list. And this could be bonuses, this could be special coaching or mentoring, this could be early access, whatever it is. The point here is that you're trying to attract people that would want your product before you sell the product. Why? Because when you launch, you want to launch to people you want to launch to an audience, people that want to listen to what you have to have to say about this product. And if you have an email list prior to that, this will really help you create that buzz. I recommend pre launching about three weeks before the actual. So this means you're posting on social, you're maybe running some ads towards that page so they can watch that video and Opt in for updates. And in that update, you want to send an update at least once a week, talking about another feature of your business, another feature of the product, why they're going to want to buy come launch day, what are the benefits of signing up early, all that kind of stuff. This is the simplest form of a pre launch. Some people do this a little bit more elaborately. So they'll have not just one video, but they'll have three or four videos. And each video will be released each week before launch. So let's say for example, you're launching three weeks ahead, then you'll have three videos. One will be ready right there on the page and then the next one will reveal itself after the week goes by. The first week goes by and then after the second week, the third one comes out. And then of course, come week three, you launch your product. And of course this launch page will no longer exist after the launch. The page would just need to be forwarded to the actual homepage of your business, of the product. Now you might be thinking, well, what's the point of a pre launch? Why not just launch and just, you know, tell people about it and hey, buy the product? Well, people need some time to think, to wrap their head around your product, to be convinced that they need the product. And this is what the pre launch does. It educates them about your product, your service, your business, what you do, what are the cases they may need it, what are the situations they might find your product or service useful. They need to be convinced of the value. You know your product's going to have a price. They're going to try to make a decision, is this worth my money? And the pre launch and those videos and those emails, their job is to convince them of that. And by doing this before you launch, they're ready to buy. Come launch, there's no convincing anymore. You've done all the work. So come launch day you have buyers. Now, not everybody that signs up to that newsletter or that opt in on that launch page is going to buy. But the point here is that a good number of them, a good percentage of them will. And knowing that it's a numbers game, you want to get as many people signing up for that pre launch list. You can also include in that pre launch sequence a webinar. I like to do this because it allows me to interact with that audience and build some trust and rapport, but also to answer their questions they may have about the product. Does this product work for my business? Does this product work for this situation? Or my needs and you're able to answer those questions. So they're all yeses and you break through all the rebuttals and all the what if and does this work for me Questions. So come launch day, they're ready to buy. I sometimes run a webinar before launch and then one on launch day. So I actually say it's launch day. Jump on a webinar with me, jump in, ask any questions you have. And it's kind of the last chance for them to kind of clear up anything. And at the webinar they can just buy on the webinar because, hey, it's launch day. Some people have really elaborate product launches and a pre launch where, you know, they say if you sign up today, you'll get this discount. You sign up today, you'll get this bonus. Some people have on launch date, like the day of launch, day one, we're giving away these bonuses. Come day two, a different set of bonuses. Day three, you only get this with this to encourage people to really check their email and know exactly when launch day is and to sign up on those days. And it's kind of like a second third chance to get something special when you sign up early. If you listen to this show, you heard me say it a billion times, one of the most important assets in your business is your audience. And when you're starting a business and you don't have an audience yet, this is what the prelaunch is for, is to allow you to have somebody to speak to, to sell to, to offer your products. Come the day you open your doors, there's nothing quite like that feeling when you actually open your doors and you have buyers versus when you launch in crickets, right? You don't want that feeling. You want people to actually check out and give you money in exchange for the value you're offering them. So Eric, who's asking the question has a subscription box business and one of the things you could do with, with a launch is say, hey, if you're part of the pre launch list, if you're on this list on pre launch before we, when you buy, you'll get a limited edition box or a limited edition special founders kit or founders bundle. And we're only giving those to the first hundred people. So this allows people to feel special. There's some scarcity here and they get something that nobody else gets. You could do something like have a founders Facebook group. Only the people that sign up during pre launch and then buy during the launch will be part of this exclusive coaching group on Facebook and that's not going to cost you anything, but they get exclusive access to you in a small, intimate group and they feel special because they're early adopters. Now. Just because you launched your business doesn't mean you can't do these strategies. You can definitely do them with any new products or services you launch. Make a big deal out of it. This is a chance for you to market and bring in new customers and get your current customers to share it and tell other people about the launch.

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Edu to wrap up today's Q and A Wednesday. Thanks for the question, Eric. It's totally fine that you missed the pre launch and you already launched. You can use these strategies for your next product. New service, new addition of whatever you're offering in your product in your subscription box business. For those who haven't launched, pre launch is a good way for you to create buzz, to create an audience, and to launch to buyers and not crickets. Eric, thank you so much for sending that question in. If you're listening right now and you have a question, email me over@omar00mba.net I'll make sure I answer it right here on Q and A Wednesday. It's our way to give back to our listeners and make sure that we address the challenges that you have in your own business. Don't forget to hit subscribe on whatever you use to listen to podcasts, whether it's Spotify or Stitcher Radio, Apple Podcasts, Overcast, Himalaya, we're on the Mall. By hitting subscribe you have access. Exclusive access to our archive episodes. All our episodes from episode one. That's over 1400 business lessons. Hit subscribe to have access to them. Right now. It costs you nothing to subscribe, but if you want access, you got to smash that subscribe button. Before I go, I want to leave you with this. The launch is just the beginning. Sometimes we get so excited about launching our business, launching our product or service, and then we get so kind of drained and exhausted afterwards and feel a little bit demotivated because it's like, oh, well, what now? And Will's like, well, now you actually keep the business alive. Now you keep the business growing. This is where the real work comes in. Keeping your business in business. Right? That's really important. The launch is just the beginning, so pace yourself. Thanks so much for listening to the $100 VA show. I'll check you in tomorrow's episode. See you then.

USAA knows dynamic duos can save the day like superheroes and sidekicks or auto and home insurance. With usaa, you can bundle your auto and home and save up to 10%. Tap the banner to learn more and get a'@usaa.com bundle restrictions apply.