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I thought you might like a bit of a peak behind-the-curtain into a major product launch that's happening right now…

As I type this Eben Pagan's launch for his “Self Made Wealth” program is going to be closing down in a few hours.

And this is a launch that's had a few twists and turns. It hasn't been all beauty and grace.

As I've mentioned before on this blog, Eben is a good friend of mine and I have huge respect for him and his business training products. I've actually attended three different workshops he put on – that was a total of 12 very long days of listening to Eben teach.

And trust me, it takes an awful lot to get me to sit in a conference room listening to 12 days of lectures!

In any case, Eben's almost done with this launch – and there's something that's a bit unusual for one of his launches…

It didn't go so well.

Or to be more accurate, it didn't start off so well.

Now before I go any further, let me say this… I think the actual product – “Self Made Wealth” is AWESOME. And I think it's really, really important – it's the material that everyone needs.

I mean, not everyone needs a product about SEO or about outsourcing – or even about product launches.

But I think everyone NEEDS to understand how money works, and how wealth works. Because a lot of it is counterintuitive… and our brains are naturally wired to screw up our finances. Plus, lots of us have really bad “mental programming” when it comes to money and wealth.

So I think the product is IMPORTANT. And I think that Eben's course does an amazing job of teaching it – taking a complex subject and making it understandable AND actionable.

So why didn't the launch go so well, and what's this “Product Launch Parachute”?

Well, in my opinion… people aren't so interested in buying “education” these days. And I think, in most people's minds, education about wealth is a bit removed from what they really want – which is actually having more money in their pockets.

In other words, people just want more money. They don't care about learning about wealth.

I'm not saying that's smart – in fact, I think it's very short-sighted. But, in my opinion, that's the way many (most?) people actually think.

And so, in my opinion, Eben's offer just didn't have the “gotta have it” appeal that it needed to sell to the masses.

(And just so I don't come off as some Johnny-come-lately, I actually had this exact conversation with Eben before the launch… I called him and told him I was worried about his offer for these very reasons.)

In any case, Eben opened the launch last week… and the sales on the first couple of days were pretty slow. Don't get me wrong… he still made more money on those days than 99.9% of the people in the developed world – but he didn't get the huge sales numbers that we're used to seeing from one of these big launches.

But this is where the “Product Launch Parachute” came into play…

You see, the Product Launch Parachute is something that I taught in my latest version of Product Launch Formula.

Basically, when you're in one of these launches, you can afford to make some pretty major mistakes… and still come out fine. There's lots of reasons for the Parachute – but two of the biggest are:

1) since you're giving out great content, you build up a huge amount of goodwill during the prelaunch that people are very engaged and forgiving.

2) you get so much feedback during the launch that you can really read the pulse of the market… and you can re-adjust your strategies to meet the market demand.

And that's exactly what Eben did…

He looked at the feedback, and he realized that in addition to the wealth training, he needed to give some great BUSINESS training. In other words, people wanted to know how to *make* money, not just a way to manage it and grow their wealth.

So after a couple of days of scrambling, Eben put together a massive bonus offer for Self Made Wealth… an offer that included two complete business training programs (with a total real-world value of $3,994). And that was just the START of the bonus package… there was LOTS more in the new offer.

According to Eben, it is literally his highest value offer that he's every had.

But the important part about the bonus was not the crazy over-the-top value… the important part was that the bonus filled in a big gap that lots of people perceived in the offer. They were interested in the “wealth and money” part… but they really wanted training on how to put that money in their pockets in the first place.

And the results?

Well the Product Launch Parachute came through… the day after the new bonus offer was announced was the BEST DAY of the launch – and the next day was EVEN BETTER.

And the orders are spiking today in a HUGE way. Of course, it's the last day of the launch and the product is getting pulled off the market tonight… so the big spike today is pretty typical. People like to wait until the last second to jump onboard. It happens every time.

In any case, that's a real-time story of how the Product Launch Parachute came through once again.

And in the end, Eben ended up with a very successful launch… AND he did it by creating more value with a better offer – so he wins, and his new students win as well.

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34 Replies to “The Product Launch Parachute”

  1. I’m not giving any value in this comment but I just want to say “Thanks” to you for giving us so much FREE value. So thanks you Jeff !

  2. I guess Eben, after teaching people various ways to make money through different business models, saw that most people can be given all the information but fail to implement it correctly, and that is mostly down to their mental framework.

    After working with a number of people to help them build a business I’ve found the same thing. It is not a lack of knowledge on how to build a business, but the completely wrong attitude. The problem is we seem to be wired to think that our attitude is right, we just need to know the tricks of the trade. When in fact the tricks of the trade come quickly with the right attitude.

    When it comes to building wealth (and not just in monetary terms) people crave the wrong information – the easy to replicate strategies – when in reality it is more to do with mindset, yet developing a new mindset is met with a lot of skepticism, and is also a lot more hard work to change how you see things and how you act.

    Its great Eben offered the bonus, and he will reach more people that way, I just hope those people focus on the crux of the course – which is developing the right mindset and personal skills.

  3. Hey, thanks for sharing the valuable in-sight info!
    I have just closed a launch as well, and it did not go well at all. Kind of. I made a lot of mistakes. But I planned to do this launch to learn and to make mistakes, to get educated for the next launch I am planning for spring. And taking this into account, it went extremely well. I am aware of many of my mistakes and have exact idea how to avoid them the next time. Finally, this story about Eben’s launch just confirmed what I have learned during last two weeks. So thanks again!

  4. I noticed that Eben also reshot his videos and shortened it. That’s exactly the issue some people were mentioning on the Third Tribe Marketing forums.

    Good to know that the launch process allowed Eben to hear and react to objections.

  5. Jeff, interesting insight into education. and launches.

    You call it the parachute… seems more like the correction. Aint nothing wrong with that. Makes perfect sense.

    One of Eban’s coaches told me the other day that when it comes to solutions, most people want a pill, not a process. Instant fixes to long term issues are not really credible. No wonder many people are in such a mess. Everything has to be instant. Even money.

    Also, loved the nice little twisty way you found to promote the program just one more time. 🙂

    cheers
    Richard

  6. Right on Jeff!! Exactly what you teach and I did wonder myself about the whole launch, wasn’t overly desirous of even taking in the Pre-Launch content, did take in the bonus offers at the end and thought WOWWW Eben’s going all out…too bad I bought those other programs!! Such a sweet no-brainer deal now! Love the blog!! How come I haven’t noticed any other of your blogs?

  7. I have gone throught most of your stuff (including the launch parachutes), did several successfull launches already, and yet this very specific real-life and almost real-time (as EP’s launch is still live as I write this) example inspided me to the improve the sequence of one of my launches.

    In fact this launch sequence “conversation” (after the cart is open) is almost limited in reminding prospects of the offer (and its respective benefits) while it is still available.

    I am now restructuring this conversation from “buy the cool stuff I have been telling all about in the last 10 days while you still can” to include another product that I strongly believe will be desired by my prospects based on the comments I have so far collected from the launch.

    Thanks for this post. It gave me one of those insights that I can (directly) apply and potentially create a better impact in my prospects life (i.e. provide him better value) and on my profit stream.

  8. Hey Jeff – thanks for sharing your great observations with us of course layered with your offer – there is always so much to learn from what you share!!! thanks! 🙂

  9. Very good stuff as always Jeff, can see that being able to build anticipation and have your hand on the pulse of the market before and during a launch has many benifits, hence the parachute you speak about. Thanks again for the value, Rodney Warren.

  10. Hi Jeff,
    I only just recently became aware of your PLF and through you found Eban. Anyone on stage with Jay has instant credibility in my book.
    Anyway, I have a question I hope doesn’t get taken out of context.
    Being new to the direct marketing side of things, I am on several lists. I can see your PLF in action when I start getting hammered by email for the launch from several different sources. Amish last week, blackbox the prior week, it is pretty cool to watch your teachings in effect.

    My question goes to list burnout though. Honestly, I don’t read 10% of the email I get from DM’ers. I save them all for future study, but there is just too much of it. The Elevation Group just did a massive launch in the last 90 days which, I have to assume because I didn’t subscribe, is similar content to Eban’s. How do you address or measure when it is just too much too soon? Does it fall under competition management?

    I guess in the end it shouldn’t matter, but in today’s world of penny pinching it does.

    Anyhoo, thanks for all the great info.

  11. This is really the best Value internet product I’ve seen so far!

    Smart guys adapt as stagnation is usually brings to slow death.

    Glad to hear the Parachute did well 🙂

  12. Hey Jeff,

    Two old sayings I’m reminded of with your most recent posting “When life hands you lemons, make lemonade” Sweeten the pot so to speak. The other is about teaching a man to fish, well in today’s society no one wants to know how to fish, they just want the fish. The solution without and of the pain.

    Thanks for taking time to educate, show, tell and sell.

    For the next year, we are working on the most effective marketing campaign ever devised on behalf ot according to Peter Drucker “The most well run business in the United States”, You couldn’t even expect to guess who that is, would completely knock you over with a feather. But suffice it to say, we’re counting on generating over 9 figures for this non-profit, for such a time as this.

    We’re going to be using one of the most effective, yet little known, marketing tools ever devised, to cut through all the traditional media and get everyone’s attention. It is so powefully effective, when it was launched in 2006 in Australia byGeneral Mootors, GM”s competittors petitioned the Australian government to ban it, it got a 65% recognition factor.

    Stay tuned and thanks for all of your insight and help.

  13. Jeff, insightful stuff! It really shows you the power of continuing to add value to your offer. It reminds me of PLM when you were talking about tipping the value scale. If you are not hitting your mark, just put a well placed stone on the scale.

  14. My first few questions when I first saw Eben’s pre-release videos was what can he offer that will justify me paying over $1k when I can get similar information in books like “Rich Dad Poor Dad” or “Think And Grow Rich” for less than $20. I’m sure many others had similar questions.

    But you definitely hit it on the nail that people also want to know how to make money and not just how to maintain it.

  15. Hi Jeff!

    Thank you for the “behind the scene’s” perspective on Eben’s product launch. I’ve kept an eye on the momentum and was curious to know how it was going and turning out for him.

    I love Eben! As a teacher and as a mentor. One thing which struck me odd about this product offering was the lingering memory of something he said during his Guru Blueprint, about information products and how to frame the context. It went something along the lines of trying to sell someone a financial planning product when he’s trying to figure out how to pay his credit card bills. I play that logic over and over again in my head and have tried to use it to keep myself centered with product ideas and launches.

    I think what he’s doing with his Wealth product is excellent for those in that arena, in addition to setting the stage for those heading into the wealth category. But it did strike me as odd that he did it. And I was thrilled to see the solution with the two super bonuses that he was offering.

    You post has filled in all the blank spots and supplied a great overview explanation. Kudos to the two of you for continually setting the standard!

    Cheryl

  16. Great insider stuff Jeff!
    I always love your follow up launch stories the best because a launch is always full of unexpected twists and turns. And let’s be honest, we’re all curious about how the big dogs and guru’s launches go.

    Harun

  17. We all are “short sided” more often than not. I’m sure this is a great program with information we all should have gotten in school. My hat goes off to Eben for throwing caution to the wind and providing a course we all need.

    Having said that, I need this course bad but, Jeff is right, I need the money first or at least that’s what my instinct says.

  18. Hey Jeff,
    Refreshing to see such an honest evaluation of a launch which wasn’t meeting expectations, at least in the initial stages.
    Interesting to note that less people are really interested in paying money to learn how to improve their wealth management knowledge.
    I can name at least three major launches in recent times dealing with this exact niche and they all seem to be following a similar path.
    In order to be able to invest your large amount of cash wisely you need to be able to make that money first. I think this is where the disconnect is.
    Appreciate the post.
    All the best
    Mike

  19. Eben’s content is always great, but I feel Self Made Wealth – seems a little old school. I guess a more punchy name like ‘Self Made Millionaire’ would improved conversions. I am sure as a smart marketer, Eben would have split tested several names before launching. The word ‘Wealth’ reminds you of Rolls Royce cars, bunglows and estates with security gates, while the word ‘Millionaire’ – although overused, sounds sexy, and reminds you of a cool dude in the Lambo.

    Kishore Dharmarajan

  20. Reference Eben’s SMW product and launch: It’s got to be tremendously successful. If it is, is also about the additional bonus products, JV action, and the unusual guarantee. The JV action also added tremendous bonus packages. Then the guarantee allows for a refund while keeping the product, even the shipped DVDs, in some cases even for JV bonuses. Recap: Eben’s SMW Launch success seems about the additional value (Bonus products), the JV bonuses, and the unusual guarantee.
    So now the question, how soon after a launch of this type will it take to know the final bottom line?

    • Well, the launch closed last night… so Eben already knows the sales amount he booked – and he can make a pretty solid estimate of what he’ll end up with in profits.

      (Eben shared his sales numbers with me this morning… the launch ended up doing VERY well.)

      But, of course, that only scratches the surface. He added tens of thousands of people to his prospect list, and a bunch of new buyers to his client list… plus he has raised his visibility in the market, made his partners a bunch of money, built massive momentum for his team, learned a lot about the market place… the benefits go on and on.

  21. Jeff,

    You are as usual Smart Guy..Promoting Smart People, Products with your Smart way of presenting points.

    Your blog itself is a Tool for learning about marketing 😉

    Keep Sharing More and More Valuable Contents. To Your Success!

    Murtaza.

  22. Eben’s stuff is always amazing… It got very difficult to decide who to buy through because the affiliates were offering some awesome bonuses. I started comparing the affiliate offers, then got sidetracked with the cyclone and forgot about it… oops! Hopefully there will be some cancellations and the doors will open again for 24 hours…

    Cheers
    Ian McConnell
    Western Australia

    • Ian: Hope you’re staying safe with that cyclone!!

      I’ve talked to Eben, and they are NOT going to be re-opening… sorry about that.

  23. Thanks for the insights Jeff. It came at a very good time as I am in the process of doing my very first product launch. Luckily I have as my mentor, Mike Jay. (By the way, I am also reviewing your PLF product to help smooth the edges.)

    I read with great interest some of the posts above and I agree with them. People need money first before they need to learn how to take advantage of and use money.

    People also have been trained since birth to want and demand “instant gratification” through the pill and fast food services.

    That needs to change, which is why part of my product, The Flawless Individual, shows people through our 12 step process, how to break through BS (Blank Slate – a very interesting and all too true life style) and discover that they can enjoy both Happiness and Success (Mike Jay wrote the book on that which he will launch later this year).

    I don’t know what Eben’s actual product content is (I am sure it is very good) and I can only guess at his upsell for $9-10,000 (my guess is that it is doing the work for you that he talks about in his $2k product – I would love to know more about it).

    In my opinion, to have a successful product in this arena, you need to show and tell a person how to do something, then do it for him/her, and finally give a guarantee that no one in Marketing has ever done before, i.e. guarantee a return much greater than their investment or they get their investment back, keep the money they did make, and make the guarantee for almost a full year.

    I know what you are thinking and yes, you are right. This is my way of letting others know a little about my product and a reaching out to find interested JV partners. Before you condemn me for such boldness, visit my blog to learn more about what a Happeneur is.

  24. Hi Jeff, just wanted to say thanks for another insightful article. I’ve been doubting the value behind the big product launches until I read your post on WF, and your article here. Helped me understand what’s really going on – and see the real value behind the launch, so thanks!

  25. Jeff, I just found you through Gideon S. Love the case study video. I get kinda sick of the guru and found this guy to be very refreshing. He’s just a normal guy. Looking forward to getting your Launch Product. I am launching my very first of many products in the next two weeks. I have no idea what I am doing, but I’m going for it. I learned tons from this first video and can hardly wait to see the next one. Thanks and congrats on your massive success.

  26. Hey there Jeff – I’ve recently discovered you awesome work in the internet business world and just missed out on PLF3… bums.
    I can’t imagine you get to answer all these… but I have one question I’d love you to answer one day regarding your Product Launch strategy, which obviously works, and it’s this (I am hoping to set up some course either online or as DVD packs): Is it more effective to release a product and then drag it off the market, as you have done with your PLF3, rather than leaving it available to people to purchase at anytime – once they have gone through the ’30 day sideways sale page’? And if so, why?
    If you hadn’t closed your product I could still purchase it now. For lower value products, which maybe don’t attract quite so much ‘buzz’, is leaving the products available for sale continuously effective as well?

    Have a nice day whatever you’re upto, I’m sure you are!
    Blessings from another budding entrepreneur 🙂

  27. @jeff It was hard to put my finger on what was wrong with the self made wealth launch, but you have articulated it succinctly.

    People can learn about how wealth works through reading personal finance books, or maybe an autobiography of Warren Buffet.

    But to be able to teach someone how to go out and do it themselves and give them tools to make their dreams a reality is a high value product that will always be in demand.

  28. Too bad they aren’t reopening…Eban Page always delivers some quality material. I can’t wait to be doing these large product launches.

  29. Product launch formula is all about strategic planning to get money fast. This is one of the best investment I’ve ever made.

    Jon

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