Roy Morejon is the president and co-founder of Enventys. Enventys has launched over 800 products, raised $165 million in capital for clients, and even gotten 16 clients onto Shark Tank.
Over 30,000 consumer products are launched each year, but 95% of them fail. Pre-launch user acquisition can be the distinguishing factor between a wild success and a total flop.
HOW TO: Prepare a successful product launch through user research & acquisition
1. Brainstorm all audiences that could potentially fit your product, then start honing in on targets
You don’t want to waste money on an audience that ultimately won’t convert. In groups of 20-50 audiences, zero in on your ideal demographics (age, gender, location) and personas (lifestyle, likes, and needs).
Set up Facebook Lead Ads to start collecting leads →
2. Test 2-3 FB ads per target audience — a generic baseline ad, plus 1-2 ads built for their unique interests
Remember it’s just research, don’t spend more than $5-10 per day per audience. Test discount ads vs. contest ads, as well as different copy, images, and videos. After 72 hours, take the best ad of the 3, create 2 spin-off variations and retest to see if you can drive CPL even lower.
Here’s the step-by-step to making a spin-off creative →
If you run out of ideas, go to competitors’ business pages and look at the ads they’re using →
3. Funnel FB leads into an email drip campaign to keep them engaged until launch
Create a welcome email to immediately follow up with new leads, then send them about 1 email per week until launch. The whole point is engagement — center your copy entirely around your CTA.
Automate your drip campaign with an email service — automated emails get 119% higher click rates than regular emails →
Use this Facebook Lead Ads-Mailchimp integration to move your leads over →
4. Link your email CTA to a product landing page to increase chances of conversion
Your landing page should have: 1) a compelling headline, 2) a clear, bright, above-the-fold CTA, 3) a mechanism to gather customer data for future remarketing, and 4) copy, photos, or a short video that showcases your product and compels leads to click the CTA.
Build a customized landing page in minutes →
5. Embed a contest app in the landing page CTA to maximize engagement and go viral
Enventys collects between 1000-1500 additional emails per product with contest apps, and found contest leads to be 1.6X more valuable than Facebook leads post-launch.
Contest apps incentivize users to share your product, and have built-in notifications to keep them engaged →
6. Track critical KPIs over the course of the pre-launch so you know what’s working
The key KPIs you’ll want to follow are: 1) Customer acquisition costs, 2) Rate of customer acquisition, and 3) Conversion Rate
View your key marketing KPIs across time on this customizable dashboard →
7. Use FB Messenger chatbots as an additional touchpoint to drive additional engagement
Facebook found that 64% of people choose direct messaging over picking up the phone or sending an email, and 53% of people are more likely to shop with a business they can message.
The average chatbot open rate is 94%; use this opportunity to improve the leads’ experience and boost conversions at launch →
8. On the launch date, blast your email & Messenger lists with a buy or pre-order offer and publish your winning ads
Segment out key audiences to target, including interest-based audiences that performed well in pre-launch, customers that bought similar products in the past, and lookalike FB audiences.
Enventys found that segmented customer lists convert 6X better than purely interest-based lists; compile all your customer data in a single place to build out your segments →