This transcript was generated from the episode audio and may contain minor errors.
How can you relaunch a product that didn't sell well the first time? This is a unique question. I don't think we've ever had it before. Last year and the year before, we did a series called Failure Friday, where we shared stories of misadventures, mistakes, missteps, things that went wrong and such. But I'm not sure we ever had a scenario where someone had a failed product and then went back to relaunch it, which I think is really interesting because oftentimes you have a great idea or you have a great product, but the messaging isn't quite right or you get one thing wrong with an otherwise great idea.
And so if you could just kind of change that one variable, might you be able to go back and try again? Well, yes, you can of course, but there are some factors to consider. So I was excited when this question came along. Comes from a home decor shop owner who launches a personalized wall art line that didn't sell as expected. She thought this was going to be just fantastic and it turned out to not be at least in terms of results.
So is it worth relaunching with a stronger strategy or should she just move on? Let's talk about it. This is CIDUSL School. I'm your host, Chris Guillebeau. Every day, a new episode all about different scenarios, questions, answers, ideas, case studies, things you can use for your own inspiration, motivation to help you make extra money without quitting your job.
That's what it's about. Detailed question and my answer coming right up. Hi, I'm Sarah, I run a small online shop selling handcrafted home decor and last year I launched a line of personalized wall art. I was really excited about the concept and put a lot of effort into designing and marketing the products, but sales were disappointing. Looking back, I think I may have launched too quickly without enough buzz or clear messaging.
I still believe in the product and wonder if I should try again with a better strategy? Is it worth relaunching something that flopped the first time or should I move on? If I do try again, what are the key steps I should take to make the second launch more successful? Well, a failed product launch doesn't mean the product itself is a lost cause. In this case, Sarah says she may have launched too quickly without enough buzz or clear messaging.
The problem could be different for another product. For another product, it might be that the idea was great, but the execution was not great. The product needs to be refined a bit before you come back with the second version or the 2.0, whatever it is. In any case, how do you relaunch with a better strategy? First thing is you make sure you really understand what went wrong.
Just do this clear eyed review of your first launch. Was it in fact marketing or messaging related like it was for Sarah? Was it product related? Was it something else? If necessary, you can do a little survey of past customers or loyal followers asking them what they liked and what they didn't understand about the original product.
That can be gold in terms of the feedback, but you might already know, so you might not need to do that survey. Next, refresh your messaging and positioning, especially in a case like Sarah's where she just didn't get the messaging right. Okay, let's get it right now. Here's some storytelling. Share the meaning behind the wall art or show how it can transform a space.
Update your product descriptions, your website copy, your promotional materials. Just make sure you have a sharper focus on the benefits of the product, not just its features. Remember that we talk about it from time to time, lead with benefits, follow with features. And then since we're going back with a relaunch, make sure to add some urgency with some kind of special launch offer. Use limited time promotions or a special bonus order within 48 hours.
You get free customization, first 50 buyers get a free matching print. There's just a couple of ideas. It could be something else. Those offers encourage action while showing appreciation for early adopters. And so just make sure you kind of go back hard, go back with some refinements, but take it seriously.
Create some buzz before relaunching, if possible, build some anticipation. Maybe even share the story with followers or customers and maybe just tell them, "Hey, I think this is really great. I didn't do the best job in terms of telling you why it's so beneficial and why it can make a difference in your life or why it'll just be really cool for your home. In this case, it's custom wall art for your home." So now I'm trying it again and I want to make sure I get the messaging right. Just being really transparent is also authentic and helpful.
So definitely with the right strategy, you can turn a past miss into a future success. Not every failed product needs to be relaunched, but if you believe in it and you just think you got something wrong, that's when you take a look at this approach. Listeners, if you have a question, sidehustleschool.com/questions, we continue to feature them throughout the year, along with updates from other listeners as they launch and grow their projects. Thank you so much for listening. I'm excited to bring you more episodes.
My name is Chris Guillebeau, this is Side Hustle School. From the Onward Project.
