Can I Do a Product Launch With Little or No Budget? Five Powerful, Proven Strategies

1. Offer a product that is wanted and that solves a problem. Most internet marketers teach this. The most simple and organic way to do this is to turn to your own life experience. Do you, or have you in the past had a problem that you really needed to resolve? If so, did you find a solution, or create a solution yourself? This is the best way to get to this nugget. The reason why is simple. First of all, if you have had this problem, it is likely that many others have had it, too. You can do some quick googling and find out if that’s the case. Second, it is most likely subject matter that have some expertise which you can share. Third, it is always the path of least resistance to start an online business when you have affinity for the subject matter. If you think about it, why would you market, say, tax preparation products if you had no interest or affinity whatsoever in the subject matter? This would be especially true if you hired an accountant every year and had no idea what that person did for you. But, let’s say that you have loved and grown orchids for the past 10 years, and you had done abundant research and testing, and had found out how to keep them alive and thriving? You would definitely want to get into the orchid arena rather than the tax arena. Start out with a little self inventory, and you’ll soon find yourself on the right path.

Cost: time output for research.

2. Create an online presence. It’s not nearly as difficult as you might think. Starting an online business does require online presence though, and these days it’s practically pain-free to throw up a blog using WordPress. It’s free, easy to install and there are plenty of design templates available at no cost. Taking the example of orchids, put up a blog and start writing articles. To get your subject matter, you may want to utilize the Google Keyword Tool, which again is free. Find high interest keywords and make them the subject lines of your posts. Your main goal at this point is to fill the blog with content. Think 20 posts, which sounds like a lot, but these days the standard for posts is 200 – 500 words. Not much at all. If you put up a post every few days, it would take a little more than a month. Once you have done this, you will automatically draw in search engine traffic.

Cost: $10 for domain name, $10 per month for web hosting service. Time output for setting up blog and writing posts.

3. Build a list. Now that you have generated traffic to your blog, put up a form on it in order to collect email contacts. There are some great ways to do that. You could offer a monthly or weekly news blast. You could write a one page report or create/find a video that is focused on a particular problem of your market and offer it to them for free in order to get the email address. There are programs out there that assist you in capturing email addresses by putting a lightbox form on the page, or popping up as people try to leave the page. These are easier to implement than you may think.

Another secret is this. If you open a gmail account, Google will give you $100 free of AdWords advertising. AdWords advertising will really pull people to your site. You could make your free offer through the ad you create.

Cost: Time output, unless you decide to spend more money on AdWords after your initial $100.

4. Build a relationship with the people on the list. Put together 5 really good email communications that have relevant information about your subject matter. You really want to send them 10 or 15, but you can get a good start with five. There is a specific way to communicate with people online, so it would help to either search for information about this, or to find a good book about it. But in any event, put five emails together that are really good and send them out, one every few days. Build up to the 10 or 15 over the course of a month or so. This is how you build your relationship. Whatever you do, do not underestimate this process. It’s your relationship with your list that is the backbone of everything else you do with your online business.

Cost: Time output for writing and generating emails plus cost of email writing book if you decide to buy one.

5. Interact with the list. It’s not you, a cold and emotionless virtual entity, out there building your empire and preying on the unsuspecting. Quite the opposite. You really want to be warm, genuine and interested in the people on your list, and you do want to interact. You want to find out what subjects they want more or new information about. You also want to find out where their pain and frustrations are. You want to find these things out because these are the source for your upcoming products. It’s good to keep in mind when you ask a question that a very small percentage that will actually respond so that you don’t have too high an expectation.

But you can get higher response if you hit some mental triggers. One of them is reciprocity, where if you give something to someone they will feel some sense of obligation to give something back to you. When you ask someone their opinion such as, “What do you think about this” or “What do you want to know about this,” or “I’m creating a product and I need your input so I can make the best product.” I think there is a little bit of reciprocity. You are giving someone your attention. Everything you do at this stage is building up to figuring out what specific items these people want information on. When you approach the list in this way, there will be certain things that will be repeated over and over again that are frustrating for the people in your market, and that is your cue for product creation.

Cost: Time output

So there you have it. These are five simple but powerful steps that anybody interested in being an internet marketing consultant can accomplish with $100 up front and $20 a month to spend. Many internet marketers are using these methods, but a lot of them don’t know that they originated with Jeff Walker’s Product Launch Formula. I’ve left plenty for you to discover when you are inside the Product Launch Formula training, because after all, it would not be cool to be revealing all of Jeff’s groundbreaking secrets.