Once you have an effective and profitable sales funnel in place a product launch is definitely a next option.
To make more profit!
Your sales funnel should include your initial product plus one or two upsells (and maybe downsells).
A Sample Funnel
Let’s say the funnel goes something like this:
Initial sale: $47
First upsell: $97
Second upsell: $147
(Just one of about 1000 possible variations LOL.)
And let’s assume the conversion rate of 10% on the initial sale followed by 20% on each of the upsells. This should be a fair rate of conversion.
The Bottom Line
Then for every 1,000 visitors you are making:
$(100 x 47) + (20 x 97) + (4 x 197)
= $470 + 1,940 + 788
Now we can work out the value of each visitor:
$3,198 / 1000 = $3.20.
So it’s clear that for every thousand visitors of similar quality we can expect to make a little over $3,000.
With a well-planned product launch you can expect to get at least 10 times that number of visitors in the space of a few weeks.
The cost to you is that you must expect to give half of your profits away to the joint-venture partners who are going to email for you and send you visitors.
Money for Nothing…
If “half” sounds a lot of profit to give away, then consider this.
If you were guaranteed to make a profit of $15,000 you wouldn’t otherwise have had over 2 to 3 week period – would you accept?
I know I would.
So that’s what would happen – you’d expect to make $30,000 in sales, out of which you would pay $15,000 commission. Which would leave you £15,000 profit.
Is It That Simple?
No – of course not, LOL.
You have to watch your costs, and you have to be able to meet the demand – for example, you don’t want your server crashing because too many visitors have come at one time.
But the basic fact is, product launches, can make you a lot of money in a short space of time. And once you’ve got the hang of it, JVs will remember you did well for them last time and it’ll be easier to persuade them to mail for you next time.
So you need to add product launches to your armoury. Here is a video about how to do that.
Jason Fladlien’s Thrifty Marketer’s Product Launch.
Join Internet Marketing Superfriends and network, and listen to what people are saying about product launches. You will learn a ton on this site, and make great contacts.