Yesterday I sat down with a client and nailed down a strategy for a product launch.
And boy was I excited.
The reason was the process that we mapped out. And that process was designed in a way to convert targeted traffic into “true fans” before we even reveal our product to them.
Now the product that we are preparing is a game franchise.
If you’re in mobile gaming space then you know how awfully fragmented it is right there.
Everybody and their dog had launched a copycat game, that makes a buck here and there and then disappears into the oblivion after a while.
Or worst, some people build a game around an on-going trend.
Which sucks because what they’re doing is building their product around someone else’s brand that they can’t control or own.
As soon as the trend goes down, so does the game.
And yeah sure, I know that these trend based products are cheap products designed to capitalize on it.
But ask yourself this question:
=> Why are you building your product?
=> What is the purpose of your product in the market?
Can your product build a foundation of an entire business on its own? Or is it just a temporary product that you do not see yourself capitalizing on after, let’s say 2 years?
– EXAMPLES –
In gaming, you might have heard of titles, like Assassin’s Creed or Hitman, or GTA by Rockstar games.
These are massive IPs of companies and these products have built an entire foundation of a brand all in itself.
Hollywood has adopted a similar model of franchising an IP (you’ve seen Hollywood making the same movie over and over again, right?)
Hell even some indie game developers have done similar things with games like Republiq, Hotline Miami etc.
In internet marketing, Jeff & Jon Walker created a product called – The Product Launch Formula that built a foundation of their business and it still is THE foundation of their business.
My good friend Trey Smith created a SaaS called Build Box and has pulled off the similar kinda effect.
Let’s look at some examples in hardware:
For Apple, iPhone became a giant franchise of a product that revolutionized their business and made them an awfully valuable company in the world.
And the list goes on and on…
So my point is, ask yourself that the product that you’re building, can it bring a similar effect on your business?
Ya see, a lot of people think extremely short term, and end up selling coaching, where they exchange their time for money, similar to a job and then call it “freedom.”
Or they sell gimmicks that doesn’t last longer than a bottle of wine on a Friday night after an extremely anxious week.
I’ve followed a similar strategy by building SaaS Academy, which is the foundation of our entire incubator at the moment.
So back to the point:
If you’re one of our platinum members, then you’ve already seen this strategy that I’ve laid down for this client.
Basically to give you a general idea, we built a funnel that is designed to push people forward and at every single step they become more and more invested in the story of the game and become attached to the product.
Without making it too complicated for the sake simplicity, this will allow us to generate more “true fans.”
And that leverage will allow us to create some other viral promotional campaigns and launch the product as if we’re building a franchise.
So to sum it up, on a paper, write down the answers of these questions, reflect/review on them the next day:
1. Why are you REALLY building that product?
2. What is the primary purpose of your product in the market?
3. Can this product help you build a business all on its own?
4. Can this product become a franchise that’ll last a long time, can it pull a similar effect like the ones listed in the examples above for your particular niche?
5. What is one thing that your product does differently that makes it a BETTER solution than competitors? (for SaaS products)
6. How does your product aligns with your long-term vision as an entrepreneur?
Most people don’t think about things like this before starting to work on a project.
Now the process requires a bit more brainstorming than what I just laid out here, but I think you got the idea…
If you do it, then you’ll do an exercise that most entrepreneurs or “hustlers” don’t do at all and you’ll have a super high chance of knocking it out of the park and BE HAPPY with what your product brought to you as an entrepreneur and to your business.
This is easier to do with a SaaS business because here you have no choice BUT to build a product with this specific strategy in mind.
Anyway, hope you have a great week, I’m working on SaaS Academy LIVE this entire week and it looks like we’re gonna host it at St. Kitts Marriott Resort & The Royal Beach Casino with amazing speakers TBD.
If you’re on my list then you’ll get an email with further details soon.
Till then, stay frosty