How to Master Your Course Launch
Getting ready to launch an online course? Today’s post covers 3 important tips to consider before launching your course in order to maximize the launch’s effectiveness and generate you substantial profits on opening day.
Before getting started, review the previous articles in this series on creating and selling online courses:
- 5 Platforms to Easily Create & Sell Profitable Online Courses
- How to Sell Online Courses: The Complete Guide to Planning, Creating, and Launching Your Product
- How to Price Your Online Course & What Not to Do
I’m Nick Foy, founder here at AskNickFoy.com and I successfully created and sold online courses during college which turned into a 5 figure per year online business by the time I graduated from Ohio State. I started AskNickFoy.com to help other online entrepreneurs fast track their business’s success and avoid the mistakes I made in the early days of running my online business.
I’m excited to have you here today and when you complete this post, be sure to check out my other popular content on the blog covering WordPress, Email Marketing, Social Media, SEO, Making Money Online, and much much more.
How to Dominate Your Course Launch to Maximize Revenue
Today’s post will cover these 3 tips so make sure you are taking notes as you read along:
- Build an email list
- Gather testimonials and reviews from a test batch of customers
- Recruit affiliates & influencers to promote your course to their audiences
Tip #1: Build an Email List
The first thing you want to do is build a large email list of interested buyers ahead of time so that come launch day you have a target group of people to market your product launch to. How do you find the right people who will be interested in your product?
The best way to build a highly targeted email list of primed customers who are ready to buy is to offer a free incentive of similar nature as your email list opt-in gift. If this free gift motivates someone to opt-in to your email list, then it tells you they will also be interested in your product you are selling come launch day.
If I was going to release a course teaching social media like Melyssa Griffin did here, then I would first offer a checklist of 10 ways to build your social media following. Everyone who opts-in for this free checklist is also likely to be interested in taking my social media course on how to grow followers to 1,000 in 90 days.
How to Build Your Email List:
First you’ll need to sign up with an email marketing service like ConvertKit.
I wrote a detailed tutorial you can read walking you through ConvertKit and how to get set up with them easily in a half hour or less.
Once signed up, you can create your opt-in form and then insert it onto your website so that people can subscribe to your email list. Once they subscribe, you’ll want them to be automatically enrolled to your autoresponder series which is a pre-written series of emails that get sent out over a period of several days or weeks depending on how long you want your series to be.
You could write 20 emails that get sent out one per week over 20 weeks. ConvertKit handles the sending for you so you don’t have to worry about signing in everyday and manually emailing everyone a different email.
Once in awhile when you have just published a new blog article or want to promote a product, you can send a one time email to your list which is called a Broadcast email. You’ll be able to monitor open rates and click rates to see how many people on your list are actually reading your emails and taking action.
Then set up a series of product launch emails. When I took Mel’s course Blog to Bizhive, she covered in detail step by step how to set up an email series for promoting your course as well as the onboarding series of emails once someone buys your product and becomes a customer. I’ll write a separate blog post on this topic soon but for today, I’d recommend taking her course and it should greatly help you like it helped me!
I am an affiliate for her course but even if I wasn’t I would still recommend this course. It was well worth the investment and grew my knowledge of online business far greater than before, helping me increase revenues, build a larger email list, and save time trying to set up my business systems.
Okay let’s move on to the next important step…
#2 Gather Testimonials
Reach out to clients and customers asking for testimonials. If you need to incentivize them to submit one to you, consider offering a prize give away and they can enter the giveaway by taking 5 minutes to submit a review to you.
Video testimonials will be most powerful. Anyone can create a fake review via written text, but there is no faking a video review of someone else. Alternatively, if you copy paste a text quote from a customer, ask them for a picture as well to place next to their quote to help give the review more credibility.
#3 Recruit Affiliates
The best way to grow your revenue quickly is to recruit a team of sales people to sell your product for you. How do you do this? You set up an affiliate program.
In other words, you offer other bloggers and online influencers who have large audiences a share of the revenue from your products for every sale they bring you. Most affiliate programs offer anywhere from 10% to 50%. If you want to really attract affiliates, you might consider paying a higher affiliate fee. For example, you could offer 60% or 70%.
In real estate, agents offer referral fees of 75%. This seems like a lot but since it’s a big time product being sold (real estate) the 25% is still a lot of money you’re making for another agent helping a buyer find a property to purchase.
Let’s put this to math, shall we?
You run an online store and sell a $100 course on how to use social media. You reach out to 10 different bloggers to become affiliates for your brand. 5 of these 10 bloggers accept your offer of 50% commission. The following month these 5 affiliates are responsible for selling $10,000 worth of courses and products from your online store to their respective audiences. You paid them a 50% affiliate fee, which means you’ll pocket $5,000 and pay out $5,000 of the $10,000 in sales.
This may be way more income than you usually see from your store on your own. Affiliates can 10x your income especially if they have large audiences who are highly related to the product or services you’re offering. Therefore, it’s recommended you reach out to bloggers in your niche/industry so that you’re pretty confident your product will relate well to their audience of followers.
Take these 3 tips and apply them to your online business today! If you want more helpful tips and lessons, be sure to check out this course I took and highly recommend by Melyssa Griffin. She’s an amazing teacher and will show you things that she did to build a multi million dollar online business. Click here to see her courses.
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