Manage episode 262409620 series 1911977
Launching is the beating heart of an online business and my absolute favourite thing. There is one person who loves launching just as much as me and has made a name for himself as a launch-expert: Ron Reich. When my friend Selena Soo connected us last year, I immediately knew that I had to bring Ron on the show to talk about our big shared passion.
Graduating from law school, Ron quickly knew that he didn’t want to be a lawyer, got involved in online marketing and launched 50 of his own products, mainly in the relationship and dog training niches. In 2015, best-selling author Ryan Levesque asked him to be his Marketing Director, and he started to manage numerous multi million dollar marketing campaigns.
Ron had arrived in his zone of genius: He became known as the behind-the-scenes launch person for Selena Soo and Denise Duffield-Thomas. Ron eventually wanted to help everybody, not only the A-players, to have great launches and has been teaching everything about launching ever since.
In this episode of the Sigrun Show, Ron shares how he became a launch specialist, the mistakes he made and learned from, and what you have to look out for when you’re launching during these challenging times.
Are you about to launch? This episode is full of valuable tips and advice on why launches fail and what you can do to really make a difference in your own launch.
“If you’re just relying on automation, you’re not going to be relevant.”- Ron Reich
What you will get out of this episode:
- What brought Ron to launching (3:52)
- How Ron learned by doing (6:04)
- Ron’s favourite launch method (11:11)
- What has changed with launching during these challenging times (16:36)
- The importance of staying relevant (00:00)
- The 3 main reasons why launches fail (18:41)
- The 2 things that really make a difference in launching (20:50)
[Recording with image]
[Link to transcript]
[Link to Apple podcast / stitcher / Google Play]
3 Reasons Why Launches Fail (Plus 2 Tips on What Really Makes the Needle Spin)
Even though we are going through a recession, many businesses are still selling and it might even be a great opportunity for you to launch now. To prepare you for the pitfalls of launching, Ron reveals the 3 main reasons why launches fail:
- People feel no desire to buy your product
This doesn’t mean that the product you’re selling is something people don’t want. It might just need to be repackaged to fit their needs better - especially in a time like now. While the market has become more price sensitive, people are still buying if the offer is a no-brainer. It’s about making an offer your audience can’t resist, even if that means that you might have to sell your offer for a lower price than you usually would. Set out for your product to be relevant and in the moment.
- What you’re selling doesn’t come across as new or different
Ron has watched people launch the exact same product year after year, and seen their launches getting progressively worse. It wasn’t because there were suddenly less people in the market. “It was because they got bored. People like shiny objects, they believe that what they don’t have is better than what they do have,” Ron says. That’s why you have to focus on being different. You can sell the same product each year, but in order to increase your launches, you need to make it come across as being different from the previous version: update it, give it a new message, or change its name.
- You don’t have a big enough audience to hit your revenue goals
It’s a numbers game. Ron says that converting 2-5% of your audience to buy is considered a good result for every launch. If your conversion rate is above that? Great! However, the mistake people often make is setting a goal for their launch that is too high for the number of people in their audience. They achieve a conversion rate between 2-5% but are disappointed that their launch revenue isn’t as high as they had hoped for, forgetting that if they’re aiming to have a bigger launch, their audience needs to be bigger, too.
While the launch process in its essence remains the same, Ron says that marketing has become more amplified with the crisis. “What that means for you as an entrepreneur is that your marketing just has to be that much better.”
Firstly, be willing to make sales calls. “If you’re willing to get on those calls yourself, that makes all the difference. Your conversions will go through the roof,” Ron advises.
And secondly, add any kind of personal touches that you can think of. If someone has been opening your emails or visited your sales page multiple times throughout your launch, reach out. Send a personalized video or message. This is the highest level of attention you could possibly give someone who is on the fence, and the more you do it, the more often you will convert.
Now, I would love to hear from you. Did this interview with Ron help you with your launch planning, or do you have any launch stories you would like to share? I’m curious to hear them! You can follow and connect with me on Facebook, Twitter, and Instagram.
I’m taking this opportunity to remind you of the Selfmade Fund. We created our own fund in March to support selfmade entrepreneurs in need who can’t cover rent and food during these difficult times. We started the fund with our own $10k contribution and are adding 10% of our revenue over 90 days. So far, over $47k have been donated to the fund and we’ve paid out a total of $4915. The money has gone to help 13 women including a single mother who is giving online sewing classes to make ends meet and a physical therapist who decided to stop working to keep her clients safe from exposure. Are you an online entrepreneur in need of support, or would you like to contribute to the Selfmade Fund?
Connect with Ron Reich:
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