What to Expect From Your First Launch
You did it! You finally created an offer you’re ready to share with the world, and now it’s time to get ready for the big moment: Your very first launch.
Chances are, you’re feeling all the feels right now. Excitement, nervousness, anxiousness, hesitation, and everything in between. Not to mention, all the questions buzzing around in your head, like:
- How will the launch go?
- Will it be successful?
- What does success look like?
- How much money will I make?
These are all completely valid questions! Your first launch is brand-new territory – territory that’s hard to navigate if you’ve never done it before. Luckily, you have your Launch BFF (that’s us!) to help prepare for your first launch and get a better idea of what to expect.
Don’t count on profit
First things first: Never count on any profit (money left over from what you make) following your first launch. We don’t say this to be a bummer; we say this to manage your expectations right away. And there are two reasons for that.
First, no matter how much work and customer research and projecting you’ve done for your offer, it’s nearly impossible to predict how much you’ll earn. That’s why we advise being super conservative with your projections, or plan for revenue. And if you happen to make money off your first launch, that’s just a cherry on top!
Second, it’s simply really difficult to sell a brand-new offer, even a low-ticket digital product. Think about it: Consumers have a hard time being the ‘first’ to buy something without knowing how it’s helped others. In other words: It’s a big risk for them! And when everyone is thinking that, it’s impossible to say how that will impact your launch.
Set some (realistic) goals
Although you shouldn’t expect any (or a ton of) profit from your first launch, it’s still important to go in with some goals! Daydreaming about all the future possibilities is great, but you want to be as realistic as possible.
For example, someone who launches a brand-new course or educational membership might dream of a $100K launch, which is incredible, right? But say your product is $1,000. That’s 100 students right off the bat.
As amazing as that would be, you then have to stop and ask questions like:
- Do you have the infrastructure to support 100 new students?
- Do you have additional team members (like a virtual assistant) who can handle customer support requests and payment issues?
- Do you have someone who can help with potential technical issues while 100 new people are trying to onboard?
Dreaming about the end goal is great, but it’s crucial that you remain realistic about the steps it will take to get there and how those high-reaching goals impact your day-to-day as it is now.
Instead, set some more realistic goals that don’t necessarily have to do with revenue, like:
- Social media followers
- Email list size
- Email open rates
- Any data from paid marketing efforts (if you have any, more on that later!)
Keep these benchmarks in mind
So, now that we’ve told you not to expect any profit and not get too carried away with daydreaming, what’s next? What goals – if any – are left to set? How can you even measure the success of a launch?
Thankfully, there are standard benchmarks you can aim for during your first launch – benchmarks that will at least help you get a sense of how successful it is. Again, you shouldn’t expect to meet or surpass these benchmarks on your first-ever launch; just think of them as initial goals to keep working toward!
- Sales page conversion rate: 10%
- Overall sales funnel conversion rate: 5%
- Average conversion rate: Between 2% and 10%
- Email conversion rate: Between 2% and 5%
Keep in mind that these benchmarks are fairly broad and may not pertain to your certain industry. But as you grow your business and continue to launch new products, you’ll be able to use your own data to formulate benchmarks that are unique to your business and goals.
Avoid pricey marketing upfront
Because you shouldn’t expect any profit from your first launch, we also caution against investing a ton of money in marketing tactics. Think in terms of paid ads, or anything else you have to spend additional money on to get the word out. Why?
You’ve already spent money on your business and brand-new offer, and you don’t want to decrease your overall ROI (return on investment). Remember: You’re not expecting to make a profit from your first launch, so you don’t want to spend even more upfront and go deeper into the red.
However, if you are going to make some initial investments, we suggest those dollars go toward things like:
- A launch strategist who can help you plan and organize everything you need for your launch
- A part-time launch manager to support you in the immediate lead-up and during the launch
- A temporary virtual assistant who can focus on logistics so you can focus on serving your audience
- A content creator who can support you with creating emails, sales page copy, social media, etc. for the launch (because it’s a LOT!)
Celebrate your accomplishments
More often than not, expectation-setting ahead of your first launch can seem like a bummer. But don’t let that get in the way of celebrating your huge accomplishment! Owning a business, creating new offers, and sharing them with the world isn’t for the faint of heart. And you should be ridiculously proud of the work you’ve done so far!
Sure, you may need to adjust your expectations this first go-around, but once you successfully launch your first offer, the possibilities that lie ahead are endless!
So, take this time to go celebrate. Go live in the moment. Go pat yourself on the back for your first-ever launch. Go have fun and remember why you’re doing this in the first place!
Join our waitlist for Launch University
Navigating your first-ever launch can be daunting – to say the least. But what if we were with you every single step of the way? Everything from initial offer creation to projecting your future sales, we cover all that in more in our upcoming Launch University! Our waitlist is now open, so make sure you secure your spot to be the first to know about special offers, open enrollment, and more!