Last week you learned how to launch an online course and make $220,750 in 10 days.
You got a full behind-the-scenes look at the launch of my new course, Get 10,000 Subscribers.
But I left out one part…
There was one strategy I used that generated $40,684 of revenue after the enrollment period had ended.
Without this one little tip (credit: Jeff Goins), your next product launch will fall short of it’s potential.
… and most people don’t even know this strategy exists.
Today I’m going to show you how I used a Post-Launch Series to increase the revenue of my course by 25% (and then I’ll give you an easy-to-follow process do the same thing).
How a Post-Launch series works
First, let’s back up a few steps…
When I released my course I choose to use a limited enrollment model, which means enrollment is open for only a set number of days.
Once that period has expired, people can’t join until the next enrollment.
Think of it like a college…
There are spring and fall semesters and deadlines are set for picking classes, paying money and starting class.
Once those deadlines have passed you can’t change your mind.
There are several advantages to this model…
Advantage #1: Having a cut-off date forces prospective students to make a decision.
They can’t procrastinate: they have to decide if they are in or out.
This is called urgency.
Last week I told you the story of how my wife and I waited until the last minute to finally make a decision on where we were going to go for our babymoon.
(Leaving tomorrow morning. Woot!)
The only reason we finally made a decision was because we HAD TO. If we waited any longer the choice would have been made for us (i.e., we wouldn’t have been able to go anywhere).
We knew we WANTED a vacation.
We knew we WANTED to go to the beach.
But we kept procrastinating for no good reason.
Many of our prospective students were the same way.
They WANTED more time, money and freedom.
They WANTED to build an email list to accomplish this.
But they kept procrastinating on joining the class for no good reason.
The looming deadline gave them a (much-needed) nudge to finally pull the trigger.
Advantage #2: Batch processing
One of the biggest advantages to a limited enrollment model is being able to bring in a large number of students at one time.
What if you taught a class in real life, and you had one student start in March, another in February and another in April?
It’d be hard to help all three because they are in completely different places.
Especially with a really intensive course.
Bringing in a large number of students at one time creates momentum. It creates camaraderie. And it is easier to help your students since everyone is starting at the same spot.
After your cart closes… do this
A limited enrollment model produces a LARGE spike in sales on the last day.
Wednesday, May 6th was the last day of my open enrollment period.
Take a look at these numbers…
Why the spike on Wednesday?
That was the day people had to make a decision.
But what happened the next day is even more interesting.
When I went to sleep on Wednesday night, enrollment had closed and sales were invoiced for $172,500.
Then I started my post-launch series.
And when I went to bed Thursday night, total invoiced sales were at $213,184.
Extension day sales = $40,684
What exactly did I do?
I opened a special 24-hour extended enrollment period just for those people who had clicked through to the sales page but had not purchased.
People who had read my launch emails.
People who had interacted with those emails
People who had pre-qualified themselves as WANTING the product, but not being able to make the decision.
Then I made their decision a little easier…
I sent this email announcing the extension.
By the end of the day, 43 new people had bought the course.
Don’t be a sleazy internet marketer.
This extension strategy works EXTREMELY well.
However, don’t abuse it. Don’t be a sleazy internet marketer.
This strategy can easily put you in that camp if you are not careful.
1. Don’t lie to your readers. Ever.
2. If no one said they couldn’t afford your product, don’t use that as a reason for the extension.
3. If no one said they missed the deadline, don’t use that as a reason for the extension.
4. Don’t go into your launch expecting to do an extension.
5. Judge YOUR specific readers’ mood and overall sentiment throughout the launch and make a call on the final enrollment day for what you will do.
6. Doing stuff for the sole motive of making more money is usually a bad decision.
You get the point.
Be a good dude. Be white hat. Don’t be sleazy.
Here is what you need to do to implement this strategy in your next launch:
Download my email swipe file. (The Product Launch Playbook is no longer available)
Step 2: Use it as a starting place to write your announcement email. (Send it at 10 p.m. EST.)
Step 3: Use it as a starting place to write your last call email. (Send it at 8 p.m. EST.)
Step 4: Wait until your cart closes to make a final decision on whether you will use this strategy. (Base your decision on your readers’ reactions and comments in the 3-5 hours after enrollment ends.)
And that’s it.
Use a post-launch sequence.
Get more customers. 🙂
Download the pre-launch sequence I used to launch my course.
So download it, bookmark this post and whip it out at your next launch.