76: When a Launch Doesn’t Go as Planned (TBB Launch Recap)
Heather gets real about a topic that’s often avoided in the world of online business – failure.
After experiencing a recent launch of Teacher Biz Blueprint that didn’t go as planned, she breaks down what happened, and several factors she believes contributed, such as timing, holidays, and economic conditions. Heather also gives strategies for future success, including tiered pricing models and smarter planning.
Her message is clear: a bad launch isn’t the end of your business. It’s a valuable opportunity to learn, pivot, and move forward with greater clarity!
Key Takeaways:
- (02:05) The second launch of TBB
- (04:00) Analyzing the launch outcome; lessons learned
- (12:35) Considering new strategies for a future launch
- (14:30) Moving forward after a bad launch
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Lessons from a Launch: What Happened, What Went Wrong, and What I’ll Do Differently
Let’s be honest, discussing challenges openly isn’t something most online business owners do. However, I believe in transparency. In this episode of the Teacher Biz Podcast, I shared an experience from my recent launch that didn’t meet expectations.
Today, we’ll delve into what happened, the lessons learned, and more importantly, what I’ll be doing differently next time.
The Launch: Expectations vs. Reality
Understanding the Background
In our line of work, every launch is a learning opportunity.
This particular launch was for my crowning program, Teacher Biz Blueprint, a comprehensive guide for teachers longing to make an impact beyond the classroom.
The program is something I passionately believe in, given its capacity to transform lives by leveraging teaching skills through online business.
The Disparity in Numbers
The stats seemed promising: I had 1,869 leads during the pre-launch phase, slightly more than the previous launch which had 1,712 leads.
However, while I previously saw 59 sign-ups, this time only 19 students enrolled in the program, a significant drop.
For a $997 program, 19 enrollments are valuable, but the drop from 59 to 19 was unexpected and required some reflection.
Missteps and Learning Opportunities
Timing is Everything
As I dissected the launch, the biggest lesson I gleaned was the importance of timing. The cart was open from October 24th to November 4th, a period packed with significant dates: Halloween, Daylight Savings, my son’s birthday, and Election Day.
Launching during such a tumultuous period was a strategic error. Halloween might seem inconsequential, but it’s a busy time for parents. Election Day added layers of stress and distraction for potential enrollees.
Length of the Launch
Eleven days is apparently too long for this audience. Initially, I thought extending the period would offer more flexibility, but it backfired, leading to less urgency.
A condensed and more focused launch period will likely generate more enthusiasm and faster decision-making from potential students.
Economic Considerations and Pricing Strategies
The Economic Factor
I’ve always felt somewhat immune to economic fluctuations, believing that the value I offered would outshine economic constraints.
However, the trend is clear: people are more cautious about spending, especially on high-ticket items, amidst economic uncertainty.
Even though I offered flexible payment plans, the economic climate likely influenced decisions.
Conveying Value
Pricing wasn’t the sole issue.
The real challenge might have been effectively conveying the program’s value. Getting someone to see $997 as a worthy investment boils down to demonstrating tangible returns.
If people don’t see the value, it’s on the presenter to communicate it more effectively.
Balancing Life and Business
Personal Commitments
Family commitments are non-negotiable priorities. My son’s birthday and the plethora of Halloween activities meant my time and focus were split.
It’s crucial to respect both professional and personal capacities when planning significant business activities. Balancing these commitments next time will involve setting launch dates that align better with my personal calendar.
Future Strategies for a Successful Launch
Choosing the Right Time
The next launch will undoubtedly be timed more strategically. Eliminating overlaps with holidays or personal commitments will be crucial. A window without significant distractions will enable potential students to focus better on the opportunity at hand.
Exploring Tiered Offerings
A potential strategy might be to introduce tiered program offerings. Perhaps not all participants need comprehensive support; some could benefit from a less expensive, self-guided version of the course.
This could cater to diverse needs and budgets, making the program accessible to a wider audience.
Moving Forward with Resilience
Adapting and Growing
Every setback offers an opportunity for growth. My entire business won’t crumble because of one subpar launch.
The key lies in reflection, adaptation, and continuous improvement. Bad launches happen; what matters is how we bounce back.
Whether you’re facing similar challenges or just starting your journey, remember to embrace each experience as a stepping stone.
Navigating an online business comes with its ups and downs. My recent launch may not have gone as planned, but it’s provided invaluable lessons for future endeavors.
From timing issues to economic factors, understanding these elements and adjusting strategies accordingly is vital. As I plan the next launch, these insights will guide me to ensure a more successful outcome.
Remember, every experience, good or bad, pushes us closer to our goals. Stay resilient, stay focused, and continue learning!