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Launch tree summery
1. Launch tree Learning Notes
Vivian Lee
The Launch Tree Summary
Module 1: The Psychology of the Launch Tree
When Launch tree is needed
• Your business is all about offering real and lasting value to your customers…
• You want mass distribution of your product (which requires a far lower upfront cost —
meaning you need the Launch Tree!)…
Then you need to implement the Launch Tree strategies exactly.
Upsell
do upselling and downselling right and you’re actually building a strong lifelong
relationship with them.
Don’t look at upsells as UPSELLS. Look at them as CUSTOMIZATIONS.
Upsell and downsell add value~~
Don’t use a heavy-handed upsell process and pressure customers into buying even your best
products, you haven’t presented them with real VALUE. They'll either be resentful or confused, and
either way you lose that customer.
If they bought product A, product B obviously needs to complement it. So, product B should make
product A either more “complete” or easier to use.
Give your customer more of what they want
2. Launch tree principle:
Eg, where u search a book on amazon, Amazon even tells you what other customers who buy
your book are buying. That makes you feel comfortable adding more products; you know they are
relevant and that you'll probably like them.
Even the specific upsell you offer needs to be properly timed
Downsell
What if the customer buying the suit does not have an extra $60 for the shirt and tie? You can use
downsell principles
3. So if the customer has said “no,” you need to figure out why. From experience, we can safely tell
you that 95 percent of the time, it’s the cost.
Give control of the order process to the customer. Mike thought he was adding things to his
cart — he should have had final control of the cart!
A better way to present upsell:
Customize the upsells based on the customer's responses.
Give control of the order process to the customer.
4. Module 2 - Launch Tree Case Studies
From those cases, we learned the right action steps as follows:
Action Steps
1. Review your current sales process.
2. Write down changes you can make to your sales vocabulary right
now.
3. Write down all of the small things that might be causing friction in
your sales process.
4. Look for ways to add a "free" component to your offers.
5. Do a quick analysis of your pricing -- main offer, bump (if you have
one), and upsells/downsells. Note down any jumps that might be too big
or too small.
6. IMPORTANT! If you have no upsells or downsells right now, write
down three ideas for products. They should all be products you can create
using our quick methods, resale rights, PLR, etc.
7. Write down at least ten things you know about your customers. Go
beyond basic things like "they are interested in Internet marketing." Get into
their problems, concerns, wishes, and emotional hot buttons.
8. Start a list of concerns and issues your customers might have after
placing an order.
9. Do your products make sense? Take a look at your products, especially
any upsells or downsells, and how "relevant" they are. Do any stick out as
being a little off base?
10. Come up with at least three ideas for recurring revenue
products.
11.Compare your best and worst "offers." Look at your product with the
highest conversions and the one with the lowest conversions. Compare them
on the basis of each part of their respective "offers" (what your customer
gets, how they get it, how much it costs, and how they will pay). Why do you
think the best one is such a high converting offer? What do you think is wrong
with the lowest converting offer?
Module 3 - Easily Creating Valuable Upsells &
Downsells
Key point: your upsells and downsells MUST be closely related to your primary offer
– (And that means they are probably interested in more — but only if it fits. ) and
each MUST make sense to your customer if you want them to say "yes."
5. Key point: Downsell or upsell need to be directly related to the main offer and adding
value to your customers.
Give your upsells and downsells a logical flow, both in value and price.
The good news is it's actually quite easy to create upsells and
downsells. Once you know what all the basic building blocks are and how they
work, you can put them together in so many different ways.
There are two basic ways to do this:
1. Use what you have. This is called recycling or repurposing content. Frankly,
if your basic content is still valuable, you can and should reuse it.
2. Start from scratch. This is not as hard as you think, as you'll soon discover!
So some people will ask, what is an offer?
An offer actually consists of all of these components:
• What are your customers going to get?
• How they are going to get it?
• What they are going to pay, and…
6. • How are they going to pay it? (Will it be a split payment, or a one-
time lump sum?)
Design a offer
Step1: Your Content Inventory
1, gather your content assess.
The goal of this exercise is to figure out what you already have that can be
turned into an upsell or downsell.
When performing this inventory, what items should you
"count?"
1. You should count any content, meaning any intellectual property you
have ever developed on the targeted topic.
2. Any products you own rights to.
3. Any good quality private label rights
4. Names of close contacts of colleagues within your niche who could
help you develop products, or who have their own products.
5. Also review your main offer — sometimes there are things in your
main offer that can be pulled out (only if it makes sense though).
Your goal is to take every opportunity to turn what you’ve already
created into upsells and downsells!
You can use the sheet from Launchtree"Content Development Plan
Worksheet" (download).
Eg:
7. Step 2: Your Content Development Plan
Here we use a Repurposing and Recycling Content Checklist(u can download
here)
Another way to create upsells and downsells easily is to
recycle content.
What is recycle content?
8. 1. Turn website and blog content into educational products.
With just a little rewriting, you can create ebooks, newsletters, and
even e-courses.
2. Turn website and blog content into an audio book. Hire some
voiceover talent, and you can turn your blog into an audio book.
3. Turn your email into a product. Your email is probably FULL of
answers to questions and solutions to problems. So convert your
email exchanges into an "eavesdrop on my private email coaching"
product (you'll have to remove some names to protect your
correspondents' privacy of course). This one would also make a
great audio book.
4. Turn articles into an ebook, audio book, or
"video book." If you do article marketing, you've
probably published lots of articles in your niche.
Compile them all into an ebook or an audio book. You
can even do a "video book" (see the next section on
Creating New Media).
5. Re-record old audio interviews. This can actually be a lot of fun
and makes a great upsell. Contact the people you originally
interviewed, and ask them the same questions as you did before.
Then package the new interviews with the old ones for a "back to
the future" product. The “old content” now becomes a new product,
and with very little effort on your part.
6. Get transcriptions made. Use a service like CastingWords.com
(the best in our opinion) to turn any audio into an ebook. The
transcript can also be bundled into a deluxe version with the audios
for an upsell.
This one's just a little more work: Get a video transcribed, and then
add screenshots from the video to the transcript to make an ebook,
or physical book, to accompany the video.
9. 7. Record a workshop or a conference. You can turn these into
physical DVDs for an upsell, then offer the downloadable recordings
as a downsell.
8. Turn workshop content into a book. Record a workshop and
then hire a good editor/writer to transform the workshop into a book
and/or a workbook.
9. Turn your autoresponders and newsletters into books or
audios. You can now offer your "talking newsletters" or "talking e-
courses" as an upsell.
10. Turn planning sessions into products. If you recorded or
videotaped any of the meetings or planning sessions when you
created a big product, offer them as a “making of” audio book or
film. This is a great way to recycle any "work" you do.
In fact, we did this with Launch Tree! We recorded the “making of”
and offered it as a bonus. We also recorded the planning of our own
launch tree and offered it as part of one of our valuable upsells.
IMPORTANT RECYCLING TIP! When recycling older content, for
example an audio tape, it might contain some date-specific references
that will be out of place — thing like mentions of current events or pop
culture.
Create New Media from What You Have
Our Top Five Media-Switch Ideas
Digital to physical. If a product you previously offered was in a
digital format, you can usually create an upsell by making it a physical
product. For example, if you've got a series of recorded webinars for
download, for an upsell create a package of physical DVDs.
10. Physical to digital. If a product was physical, make a downsell by
going digital. For example, if you've been publishing a physical newsletter,
create a digital "collection" of back issues as a downsell.
LIVE to recorded. Record any LIVE event, and then offer it as a
physical product (upsell) or online video (downsell). For example, hold a
seminar or workshop, record all the sessions, and then turn the recordings
into a product.
Conversions can be VERY high on this type of upsell/downsell. You can
even sell them PRE-event, since people who can't travel to the actual
seminar will usually jump at the chance to get recordings of the sessions.
Print to audio. Audio books are hot, especially if people can download them to
their iPod or other digital player. For example, if you have an ebook on a topic,
go to Guru.com or Elance.com and hire someone to make an audio book for you.
You immediately have a great upsell that adds a lot of value.
Print or PDF to "video book." Here's how you create a "video book." You
take your ebook or other written content, and make some Powerpoint slides for
each chapter. Then record yourself reading the text of the book while you step
through the Powepoint slides.
Adding artwork to the Powerpoints makes it that much nicer.
You can also hire professional voiceover talent to read the book, and an artist to
make more elaborate videos… but hey, we're trying to keep it simple here!
Now take that recording, and turn it into a physical upsell by putting the
recordings on DVD or CD-ROM. The downsell becomes a downloadable video in
Flash.
Using Other People's Products
Buy resale rights, reprint rights, or master resale rights to an
existing product. The product doesn't have to be just an ebook. You can
purchase resales rights to audios, videos, software, and even continuity
products like membership sites.
Customize some high quality PLR (Private Label Rights)
content. PLR has gotten a bad reputation, mainly because a lot of it is
pretty low quality and people use it without changing it.
But actually this type of "white label" content has been around for a long
time. For example, if you get a print newsletter from your doctor, dentist,
veterinarian, realtor, or other professional, chances are it's a canned
newsletter — they just add their name and picture!
We recommend that if you use PLR, hire a good writer and designer to
11. customize it and spruce it up for you. Then add quality extras, like
checklists, and then create an audio or video version. In other words, use
the PLR to save research time, but do everything you would do to your
OWN product to professionalize it.
Clinch a JV or other type of partnership with an expert in your
niche. Using someone else’s product is one of the fastest ways to
complete your tree — and with almost no work on your end. If you are
just starting, this may be your preferred route.
Eg:
If you have an ebook about improving your golf game, perhaps you can partner
with someone who offers a monthly newsletter to golfers.
You can now generate recurring revenue without having to do any extra work!
You’re also bringing great value to your customers through a newsletter that is
tested and proven.
When deciding who to approach, you should first search within
your own pool of associates. Then ask yourself these questions:
• Who do you already know who provides valuable information —
perhaps you’re even a customer?
• Is this person honest and willing to offer his content at a fair price or
percentage of profits?
• Would this person be willing to sign a simple agreement that spells
out each of your responsibilities and compensation?
• Do you feel comfortable promoting this person’s products or
services? Would you, yourself, buy it?
• What does this person offer that will help you and your business?
• Is this arrangement also a good investment for your partner?
When Partnering with Another Marketer
• Always work with someone you know and trust.
• Have an agreement in writing.
• Make sure the terms are equally satisfactory to both parties.
• Spell out each person's responsibilities.
12. Six Fast Techniques for Creating Valuable Upsells and
Downsells From Scratch
Module 3 – Easily Creating Valuable Upsells &
Downsells
13. J. Time For
Our
Best
Ideas –
25
Ideas
You
Can
Run
With…
Here are 25 ready-to-use upsell and downsell ideas. You can also
download and print these out here:
Color 25 Best Upsell/Downsell Ideas Cheat Sheet (download)
Boot Camps
These have VERY high perceived value and are the easiest upsells to do. Here's what
we recommend for a Boot Camp upsell…
Four to six week series
Use GoToWebinar.com
Hold one per week
Do in-depth sessions
Better yet, get experts to participate in the webinars, reveal their secrets, etc.
Be sure to record these! Make the recordings available to those who bought
the live Boot Camp.
Make the recorded sessions only (no live attendance) as a downsell. Charge
50 percent for the post Boot Camp recorded version.
You can also re-purpose or recycle these recordings later.
Recordings of LIVE Events
If you are selling any type of training or course, videos of sessions that teach
advanced topics will sell especially well.
The videos don't have to be high tech. You can set up a video camera and
tape yourself teaching a "class" on the topic to a group at the local library,
community center, or church. The point is to tape a "live session" with an
audience.
14. If there is any kind of complex, intimidating, or time-consuming task you
can do for your customers, this will convert amazingly! Some ideas…
"We build it for you" website businesses. You would design the site,
write the copy, make the graphics, and even populate with affiliate
products.
Turnkey product development. If you have a strong team of
outsourcers in place, you can sell a custom product package, such as
an ebook, video course, audio interview series, etc. These also have a
very high perceived value.
Module 4 – How to Build Your Own Launch Tree
First we'll go over the different types of offers that can go on your tree
Then you'll make several initial sketches of the offers on your Launch Tree.
Finally, if you haven’t done a Content Inventory and a Content Development Plan,
better go back and do those now! You can't start building a Launch Tree without
some offers to put on the branches - and you need products to make offers!
A. What Different-Sized Launch Trees Look Like
3 different kinds of trees:
1. Short-tree if you dont have one click technology (1-2 offers of upsells or
downsells)
2. Medium tree (2-3)
3. Tall tree(3-4) highly related offers
Bump offer
Extensive downsell
15. Recouring
B. The Different Types of Offers
Basic Types of Offers
Main offer, bump,upsell, downsell, Recurring, and bonus
Post-Launch Offers
After your customer goes through your entire Launch Tree, you can (and should)
continue to present them with offers. That includes not only your own products, but
affiliate products (such as related software offered by another marketer).
Backend offer – A general term for any product you offer to your current customers
after the initial Launch Tree process is over. This can be a one-off product or a
recurring product.
"Launch within a launch" offer - This is a term we use for a special type of offer
you present to customers shortly after a big product launch. This offer is designed to
ride the momentum from the launch, while your customers are still excited and
hanging onto your every word. You generate some buzz for this product during the
actual launch, but you don't offer it for sale until about 10–30 days after the launch
closes.
Affiliate, JV, or partner offer - Here you are paid a commission for promoting
someone else's product to your customers.
Now it's time to brainstorm the arrangement of YOUR offers into your own Launch
Tree!
C. Arranging (and Rearranging) Offers
Lay Out Everything You Have
First, create a flow, a story — which one would best follow which one...
16. Second, lay them out based on which ones you can charge the least to
most for...
Third, decide on how many upsells/downsells you want and what you
plan on launching within a launch later...
Fourth, plan if you have recurring — if so, have a content plan ready
for at least the next three months...
Sketch 1 - The Story
How do the products flow from one to the other logically?
What kind of "story" do the products tell your customer?
17. IMPORTANT NOTE: Remember NOT to shove your customers into your existing
products. If you try to force a tree, it won’t work. It’ll irritate your customers and it
will not produce results.
Sketch 2 - The Prices
18. Sketch 3 - Selection and Timing
How many upsells and downsells do you want to offer in total? Try to
select which products will be upsells, and which will be downsells.
What products do you plan to use for a "launch within a
launch?" Choose these carefully, because they could be your highest
converting products. You'll be promoting them to highly enthusiastic
customers, and also during the "honeymoon period" of peak momentum right
after your main launch.
Will you have a recurring continuity program? If it’s content based
(virtually all are), you need a content plan that covers at least three months.
19. D. How Big Should Your Tree Be?
Here are some tips to help you decide on whether to shoot for a short, medium or
long tree…
If you're just starting out, go with a short tree. It's always best to get
started and try something out. Don't let the lack of a big tree with lots of
products stop you from at least starting!
If you have no 1-Click technology (see Module 8), stick with a short
tree and then focus on a "launch within a launch." In other words, you'll
20. launch, bring in plenty of customers, and then carefully upsell those
customers while the post-launch momentum is riding high.
This can also work really well for you if you have a medium to large tree.
If you're planning a big launch, go with at least a medium-sized
tree. A large tree is probably best, and worth the extra planning, product
development, and testing.
You're going to invest a lot of time, energy, and planning for a big launch. So
optimize for the most revenue during the launch and use a large tree.
NEVER FORCE a big tree if you don't have high quality, value-driven
products to back it up.There is nothing worse than being dragged through
upsell after upsell of low-value junk products.
It makes you look bad, and it really annoys your customers — it will backfire!
Remember the "launch within a launch" strategy. By planning to
introduce some upsells after you launch, while momentum is high, you can
save some of your best upsells for later.
E. Where Should You Place Offers on Your Tree?
Remember, a bump is an extra product offered right at the point of checkout.
#1 Bump Recommendation: Make your bump a recurring offer, with the first
month FREE.
#2 Bump Recommendation: If you're going to offer a membership or subscription
with a one-time payment, make it FREE to try for at least seven days. The automatic
re-billing kicks in after those first seven days.
F. The Pricing Ladder
The Price of Your Initial Offer Should Always Fit the Niche
and the Type of Product
The Price Has to be Congruent with its Perceived Value
The Rules of Price Increases
The percentage of sales you make from your visitors — will depend on two things:
1. The value of the offer.
2. The price point where the customer enters the sales process.
21. Gradual price increases and decreases are well-
tolerated by customers if you follow these rules…
Rule #1 - Gradually Increase the Price of The Offers During
the Actual Sales Process, Especially Between the First
and Second Offer
Rule #2 - Your Highest-Priced Offer Should Have a Logical
Price Relationship to Your First Offer
Rule #3 - Price Much More Gradually When Starting with
Free Downloads
Rule #4 - If the Customer pays anything for the Initial
Tryout — Even if It is a $1 Trial —Your Upsells can be
Priced Higher
G. Five Simple Pricing Formulas
Proposed Pricing Formulas
Every niche and product is different.
The only true way to know…
1. Observe (copy and paste) what the top companies in your industry are doing.
2. Test!
Formula #1 - Double the Value, and Cut the Price in Half
Formula #2 - Simple Bump Pricing
Formula #3 - 3X Rule: Price the First Upsell and Beyond
Formula #4 - The 70% Rule
Formula #5 - The 50% Downsell Rule
Payment Plan Pricing Rules
There are two key rules to remember when you put a payment plan in place.