5 Cool Business Insights I Learned From My First Product Launch
50% sold out in 3 days might sound like a dream, but the journey is not that easy.
I launched my first live training program on how to be a highly-paid writer as an experiment. It sold out 50% of the seats in just three days.
While this might sound like a fairy tale success story, the journey hasn’t been easy. I wanted to share that with you, and the key insights I learned along the way.
But first, why did I launch this training program at this point in my career? I’ve always been passionate about writing, but it took me seven years to start earning money from it. I don’t want any writer to go through the same pain.
Starting out as a writer isn’t that hard or time-taking if you know the right tools and have the right mindset. So, to help new writers and ease their journey into the world of writing, I launched my first live training program on 6th December 2021.
The one week since the launch has been like a roller coaster ride. It has taught me many important lessons about how to run a business and given super valuable insights which I’d have never learned had I not pressed the publish button.
This post is going to be about all the lessons that I learned from my product launch. If you’re thinking of launching your own digital product, then this post is definitely for you. If not, read on anyway for some cool business insights.
1. Promotion isn’t a sprint, it’s a marathon
As naive as it might sound, I thought that because I’d spent so much time building a personal brand and cultivating valuable relationships with fellow writers, my training program would be sold out the moment I launched it.
But of course, that didn’t happen.
In fact, on day one of the launch, I only got seven applicants.
For a while, I was disappointed. I’d worked so hard in putting the training program together, I thought more people would be excited.
But then, my marketing consultant told me that seven sales on day one without any social media promotion (I only launched the program to my email subscribers) are amazing results.
This was a difficult pill for me to swallow, especially because I’m used to writing online. The online publishing world is an environment where the moment you hit publish, you can get hundreds and thousands of views and valuable comments from readers all over the world.
I thought something like this would happen, but it didn’t.
It took me a while to come to terms with it, but now, I’ve realized that no matter how rich, famous, or popular you are, your promotions are rarely ever going to be like a sprint.
Key takeaway
The results are going to come over time. You need some patience so you can keep the bigger picture in mind, and not get demotivated by the small numbers on day one of your launch.
2. A community is more valuable than immediate sales
After I sent the first email, I got replies from several people saying that they were excited about the course, but didn’t have time or money to join.
For a few days, this was difficult for me to digest because I thought that the people say they’re supporting me, but their actions say something else.
A conversation with my business coach changed my mind. He told me that the power of a community can be incredible. Right now, I might not be making sales, but a few years down the line, when these people need a writing coach, I’d be the first person they’d approach.
By replying to their emails, I’m planting the seed in their head that I’m not only an expert at writing online but also super approachable. And whenever they have any questions, I’m the one they should come to for answers.
Key takeaway
Even though your community might not translate to immediate sales, it has the potential to result in high-ticket conversions later on. All the time that you spend right now cultivating relationships is going to be totally worth it in the long run.
3. Feedback can make or break your product
The first draft of my landing page was roughly about 10% as attractive as the current version. My marketing consultant did a great job of tweaking and polishing the copy to make it sound awesome.
Aside from that, I asked for help from my friend who’s an expert in Notion. She suggested some very powerful changes that have visually improved the presentation of the page.
I asked a few other friends for feedback and all of them gave amazing suggestions that have led to the landing page looking as it does right now. If I hadn’t asked my friends for feedback, if I had just gone ahead with my first instinct and published the first thing that came to my mind, I would probably have had 5–6 sales so far.
Key takeaway
The key takeaway here is that no matter what you’re launching, always take feedback. This can be from your friends with a similar background, or from a small beta group who will advise you and give you suggestions along the way.
Never publish the first thing that comes to your mind. The first draft is for your eyes only.
4. Be prepared for setbacks
No matter how many automations you set up or how many systems you keep in place so that you can make money when you sleep, your launch might not be as smooth or as seamless as you think it’d be.
When I set up the automation for my launch, I expected I’d have no work at all for the next seven days. But I was wrong because there were some glitches in the payment gateway that were beyond my control.
Aside from that, I also had to reply to many emails which I didn’t anticipate before. This took up time and effort, and it made me come to the conclusion that a course or a training program might not be as passive a source of income as you might think.
Key takeaway
The right term here is scalable income. You do the work once and can get paid for it several times. But it’s not passive as you have to put in the effort and take active steps so that the sales keep coming, and the people who are your potential customers get converted into actual buyers.
So yes, work hard at the beginning, but always be prepared for setbacks.
5. Your energy translates to the faith your audience has in your product
I wrote about this before and I want to stress it again: the people who buy your product don’t do so because the product is amazing. They buy it because you are the person selling it.
Your audience can sense your energy through the copy that you write on your promotional page. They can sense your energy in the videos that you create or all the live sessions and webinars you do.
And to make sure that your energy is high, you have to truly genuinely believe in your product. You have to believe that it has the potential to change lives — other people’s as well as yours.
Key takeaway
Make a product that delivers on the promise that you make while pitching for sales. And then, truly believe in its potential. If the customers sense that you yourself are not convinced about your product, then nobody’s going to buy it.
Final thoughts
Launching a digital product is a huge decision. It’s the next step in your journey that takes you from being a writer to a creative entrepreneur.
The first product you launch might not be the roaring success you envisioned, but through it, you’re building a community of loyal supporters who would continue supporting you beyond the launch of the first product.
If you cultivate trust and goodwill, you’re going to sow the seeds that will reap beautiful benefits several years down the line.
Do you have a product idea in mind but are still debating how and where to start? Leave a comment on this post and let’s talk!