The TL:DR of prelaunches is that YES, if you want a massive, 7-figure level product launch, you do need a prelaunch.
Why You Need A PreLaunch
Prelaunching means raising awareness about your product before it becomes available to buy. If you look at the most in demand consumer products, whether the iPhone, or certain gaming titles, and things that tend to sell out within days of launch, you'll see a pattern emerge.
In an overwhelming plurality of cases, the product seller will announce that the product is on the way and will drop on X date. What this does is whet the market's appetite for the product. This ensures that a lot of people are now eagerly awaiting the product launch. When the launch date arrives, an eagerly waiting audience ensures sales on the first day, and some products do sell out on the first day!
You need a prelaunch for your ecommerce product, coaching membership, course, or SaaS, to replicate the same kind of anticipation in advance of the launch date.
What If You Launched Without A PreLaunch
There's another kind of launch, the Stealth Launch. To forestall competitors targeting the same consumers you want buying your new thing, you don't create a whole lot of buzz nor announcements in advance of the launch. You just make the product available in your ecommerce store, or to your email list, or make the new SaaS package available in-app as an upgrade.
Both can work, but most beginner product launches will experience better results with the prelaunch approach. It puts time and anticipation to work for you, helping raise the initial response you're going to see on launch day.
If you launched without a prelaunch and sales are weak: go ahead and start creating a new wave of hype and noise around your product. You can extend your product launch for an entire year if needs be, or 15 months or more. So, all is not lost!
Should you prelaunch a product for your 7 figure product launch
Should you prelaunch a product for your 7 figure product launch
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