The Truth About Product Sales

Should you rename your product to keep it fresh in the marketplace? This question came up in one of my Masterminds. Someone mentioned that a marketing expert suggested renaming products to keep people interested.

Well, after nearly 30 years of selling online, I have some strong opinions on this. I’ve been selling Product Launch Formula® since 2005, and it’s still going strong.

It’s one of the longest-running continually updated products in the world of online entrepreneurship.

And here’s the thing – I’ve never renamed it. Let me explain why.

Renaming Your Product Carries Risk

If you’ve built a brand, gathered success stories, and cultivated a loyal customer base, renaming your product just to make it feel fresh is a pretty bad idea. The name of your product carries weight. It’s got brand recognition, trust, and credibility. All of that is at risk if you rename your product.

Instead of renaming it, focus on updating your marketing. If your product is still viable and converting well, it’s not the name that needs refreshing – it’s the way you’re promoting it. Your marketing should evolve, but the core product name should stay the same in most cases.

When Rebranding Makes Sense

Now, every market is different. There are situations where rebranding might be necessary. If you’re in a market that’s stagnant and not growing, or if it’s a market where the same people keep seeing your offer, you might need to refresh things a bit.

But even then, renaming the product isn’t usually the answer. More often, it’s about updating your offers (e.g., how you talk about your offer, what you include in it), or your marketing approach.

Keep in mind that in most markets, new people are always coming in – people who haven’t seen your product before.

So, while it might feel old to you, it’s brand new to them.

Staying Consistent

The benefits of sticking with a well-established brand are huge. Your product’s reputation, customer testimonials, and case studies all reinforce that brand. Throwing that away just to give it a fresh name doesn’t make sense.

After being in this business for so long, I’ve built up incredible positioning with Product Launch Formula. In fact, it was one of the first real brands in the online entrepreneurship space.

And because I’ve stayed consistent with the brand name, it’s become a household name in our industry.

When to Consider Refreshing Offers

There are some markets where periodic refreshes are necessary, but that doesn’t necessarily mean renaming the product.

For example, one of my Mastermind members sells to Irish accounting agencies. There are only a few thousand agencies in his market, and new ones aren’t popping up every day.

For him, instead of renaming his product, he updates his offers whenever tax laws change. That keeps his product relevant without having to start from scratch.

So, while there are cases where markets need refreshes, renaming your product is rarely the best strategy.

Building Positioning Takes Time – Don’t Abandon It

It takes a lot of effort to build strong positioning in the marketplace. You’ve worked hard to create success stories, collect testimonials, and build a loyal customer base. If you’ve already done that, don’t throw it away by renaming your product.

What you can do, though, is refresh your marketing. Change up how you attract people, adjust your messaging, or update your opt-in pages. But if your product is still converting, stick with it. There’s no need to reinvent the wheel – just keep improving the way you promote it.

Keep Selling, Keep Improving

If you’ve got a product that’s working, keep selling it. But don’t just rest on your laurels – always be improving.

Make your product better, serve your customers in bigger ways, and keep working on your marketing. That’s how you’ll maintain long-term success.

Success isn’t about renaming your product or starting over – it’s about refining what works. That’s how I’ve built the Product Launch Formula, and how it’s generated over $1 billion in sales across every market.

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