You might think that launching a product is the final step in your product development journey. This is how to play it by the book:
Build a product > get beta users > collect feedback and iterate > do an official launch on product hunt > bask in glory.
Other an even more naive version:
Build product > launch > bask in glory. Where both these founder-fantasies go ashtray is in thinking that a launch is one-time event, or that there is even a single definition of what constitutes a “launch”.
Your product launch can be done before you get any beta users. It can be done in order to get beta users. It can be done to validate the idea in general. It can be done to validate the idea in general. It can be done multiple times. Depending on what specifically you’re expecting from product launch you will be using totally different strategies and take different steps to get you where you want. But first, let’s start with the basics.
What is the product launch
- info-product launches
- conferences, etc.
Where to launch a product
- Indie Hackers
- Hackers News
- Product Hunt
Product Launch Type 1: To validate an idea.
Product Launch Type 2: To drive sales.
👀 Platform launches: Important things to consider
Other downsides of a lifetime deal:
- When users get a lifetime deal they don’t hurry to use the product — they have their whole life, so what’s the rush? That prevents you from getting valuable feedback you need today.
- By lowering the price you lower the perception of your product’s value. Customers don’t recognize it as valuable any more and don’t create strong relationships with the brand or founder
- Super seducing offers attract the wrong customers, customers who are not your target audience, and not who you’d want to serve. Therefore, the feedback you will be getting from them is not relevant to your product development.
- Low-value users still increase your costs. You’re paying for increased hosting costs and decreasing your margins. The cash you were hoping to generate when creating this offer therefore gets burnt faster than you expected.
- When you need fast feedback to improve your product
- When you need quick cash to make you last for several more weeks
- When it’s Black Friday
- When you have a product-market fit
- Limit the number of lifetime deals available. Create a countdown showing how many lifetime deals are left. This creates a FOMO effect and prompts users to make a faster decision. Limiting the number of lifetime-deals available also limits the potential hit to your long-term MRR.
- Create a strong referral campaign that will support the offer. Word of mouth should be spread fast and efficiently. Use as many influencers as you can to amplify your message.
- Alternatively, you can limit the lifetime deals for specific features or plans that you want your users to try out more
- Consider the possibility of doing a “Pay now and get 3 month free” campaign instead. Or offer “1 year deal” instead of lifetime.
- As an alternative to the number of deals, set a time limit: for example, 2 weeks maximum. This will create a FOMO effect as well.
- Marry a LTD and an auction idea. Increase the price for the LTD every day or two or after every 20 deals sold.