I Love it When They Don't Buy as long as I Know

I have literally launched thousands of products in my career, in fact, if I could point to one single area of expertise, I would say that I've certainly figured out how to launch a product. But, it's been a while since I launched my *own* product instead of one for an employer or client.

Having just completed the first phase of the launch of the Daily Marketing Ace, I thought it might be helpful to share some of the insights that I've accrued as a result.

The experience of launching your own product is pretty much the same as launching one for someone else except for the fact that the intensity scale is off the chart when your own butt is on the line. I always learn something every time I launch a product, but there is no learning experience quite like stick-your-neck-out risk! I highly recommend it for those of you who want to accelerate your learning curve and who don't mind a few more grey hairs.

WINNING LAUNCHES ARE MOSTLY A PROCESS OF ELIMINATION

One way to look at a product launch is from the standpoint of "knowns" and "unknowns." When you first start with just a concept of a new product, the "unknowns" far outweigh the "knowns." As you go through the process of getting validation from your target market, then refining your product concept, prototyping, and market testing, the "knowns" start to catch up to the "unknowns."

If you have been through the process enough times, you get to the point where anything that eliminates a variable is welcome, because you understand that getting to a winning product in the marketplace requires elimination of most of the "unknowns" and putting them as solidly in the "known" column as possible.

HOW'S THE LAUNCH GOING HONEY?

This idea of getting excited about eliminating variables, has my wife a bit confused, and I don't blame her. She asks every week or so about how the launch is going for this project that has consumed me for the better part of a year, and I respond "great, I've discovered three things that are standing in the way of the sales process" or something similarly nebulous.

That's kind of an anticlimactic result to get from this long-anticipated launch. I'm sure she would much rather hear "Great Honey, I nearly broke the cable modem when I tried to download my last sales report from the payment processor!" Hey, I would rather be saying that as well.

But to me, this is exactly the kind of information I'm looking for. You see, I've already validated the product concept, I've done solid market testing, and I've created a series of prototypes; I know that my product fits the needs of the market. Most of the "unknowns" have been eliminated at this point.

Where there are still "unknowns" is in the actual selling process. You can only really know what works by making assumptions and testing them. Then you modify your process based on the results and you test again. Eventually, you move enough "unknowns" into the "known" column, and voila! Sales start rolling in.

EXPERIENCE IS THE ULTIMATE SKIN CONDITIONER

It takes thick skin to go through the process of creating a product from scratch and taking it all the way to success in the market. The more innovative the product, the harder this process of eliminating variables is. That's why most people stick close to the middle and create products that are almost exactly like their competitor's best products.

But, for a marketer, the middle of the road is the most dangerous place to be. If you play in the middle of the road, you just might get flattened by a Mac truck! The only way to really win is to be out in front of the pack. And the only way to be out in front of the pack is to develop skin so thick that you love to learn the reason someone doesn't want to buy your product.

Frequently, we get so caught up emotionally in our pet projects that we put the mental blinders on and don't want to hear anything negative. We put up roadblocks that keep us from seeking vital feedback from the market.

Ween yourself out of your comfort zone and ask the tough questions about your product. When you start to experience the great results you get from rapidly iterating your product and sales process to eliminate the barriers to the sale, you will quickly become a convert to the process of eliminating "unknowns."

Then you can say "I love it when they don't buy as long as I know why." And *your* spouse will be as confused as mine.

Doug Hudiburg is the founder and editor of the Daily Marketing Ace.
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