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On March 31st, 2016 Elon Musk changed the game, again, for the auto industry. He unveiled Tesla’s first electric vehicle aimed at the mass market, the Model 3. The previous three models were the Tesla Roadster (small production, exclusive, and priced at above $100,000) and the Tesla Model S (still a luxury car starting at around $60,000 and going up to over $100,000). The Model X is priced similarly to the Model S and aimed at the same high end market.

The Game Changer – Tesla’s Model 3

The Model 3 was poised to bring electric cars to the mass market priced at around $35,000. It was highly anticipated before the announcement, and it is undoubtedly a game-changing product, but the thing that fascinated me was Elon’s launch strategy.

From the beginning, Tesla has taken a different sales approach with their direct-to-consumer sales strategy through their showrooms in malls and their website. This model changed the way people buy cars and bypasses the much dreaded car dealership shopping experience. People can go online and order their cars without having to deal with the haggling and ickiness that comes with buying a car.

$7.5 Billion in 24 hours, $14 billion in 7 days.

With the Model 3, Tesla borrowed from a page in Apple’s launch playbook: hype up the media (get organic traffic), invite people to a live event, and launch the product. With an unconventional and visionary leader like Elon Musk, the positioning was set, the raving fans were primed, and the launch strategy was executed phenomenally.

The Model 3 basic launch process:

Registration Page To Watch The Live Broadcast:

*https://www.tesla.com/model3 © Tesla Inc – Notice: This material is subject to copyright law. Examples are for illustrative and educational purposes only.

The Watch Page (a different page was used for the event, this is their replay page on tesla.com)

*https://www.tesla.com/model3 © Tesla Inc – Notice: This material is subject to copyright law. Examples are for illustrative and educational purposes only.

Order Form for $1000 Deposit

The Result

There’s obviously a lot of factors, work, and nuances that went into this product launch – like a revolutionary product, an unshakeable foundation, a solid strategy, a great brand, remarkable leadership and an insane vision that attracts people – but this is a model that works.

Their sales process was simple, and the execution was flawless. They invited people to the event, presented the product, and made it super easy for people to give them money with a simple order form online.

7 days after the Model 3 was announced, Tesla had over 325,000 Model 3 orders, resulting in about $14 billion in future revenue for the company, and over $350 million in cash from the $1000 deposits collected.

How to use webinars as a predictable client acquisition strategy

Webinars and live events are one of the best strategies for selling your products or services. Though nobody called it a webinar, it’s exactly what Elon Musk did to launch the Model 3. Live events have always been Apple’s way of launching new products.

We’ve been able to successfully, month in and month out, run profitable webinars to sell everything from products to services. There’s a lot of training out there on how to run webinars so I didn’t want to make this post about that, but if leave me a comment if you’d like to learn more about webinars and I might do a blog post on it. A great place to start is by reading Russell Brunson’s Dotcom Secrets. Get a free copy here.

CASE STUDY: Our $400k Launch

Last year we had our best product launch so far. It wasn’t Elon Musk status (who is?) but it was a pretty epic experience for our Just Digital team.

Our client, Michael Rozbruch, has a consulting business where he teaches CPAs, IRS Enrolled Agents, and attorneys how to help people with IRS problems. After building his own tax resolution firm to $23 million in annual revenue, he exited his company and started a brand new business consulting other practitioners and teaching them how to grow their own tax practices. He puts on nationwide conferences, does consulting, and offers a step-by-step training program.

During the product launch we ran for Michael, we were able to generate $402,693 in sales during the 4 day launch window, plus get an extra $100k+ from the same customers after the initial purchase. About half of that came during a live webinar he did, the rest came through automated follow up emails after the webinar.

So let’s jump into the case study. Here’s a breakdown of the results and the process we used for our client’s $400k product launch:

1. Webinar: People registered for a four hour live online training session where he taught some concepts, interviewed past successful clients, and showcased his product.
   1. 3000 people registered to attend the presentation.
      55.79{3a2c4a0805d1010346945af56d6c7f7373ea77d542a39d135c91600d098c4502} lead conversion – the percentage of people who registered (we had 5,778 visits to the page).
   2. Our traffic sources were: 10 affiliate/ promotional partners, our internal email list, and Facebook advertising.
2. On the thank you page, the page they see right after they register with their name and email, we confirmed their registration and made a product offer for $197. We made this a One-Time Offer. Essentially this was a sale that they could only get on that specific page and once they left, they couldn’t access it anymore. The offer included templates for sending out press releases and a training program on how to get free PR.
   1. 139 people bought the product at $197.
   2. Total Revenue from the one time offer: $27,383.
   3. 4.63{3a2c4a0805d1010346945af56d6c7f7373ea77d542a39d135c91600d098c4502} sales conversion – the percentage of people who purchased the one-time offer.
3. Automated follow up emails to remind people to show up.
   1. We had 11 emails go out before the event with four short training videos to keep people engaged and remind them of the event details. This was over the span of 21 days prior to the event. The frequency of communication automatically adjusted depending on what date the person signed up.
4. Webinar Broadcast.
   1. 36.43{3a2c4a0805d1010346945af56d6c7f7373ea77d542a39d135c91600d098c4502} show up rate. For webinars, people tend to register but then can’t make it. A dropoff is expected here.
   2. Number of Attendees: 1093 people actually showed up to watch the live presentation.
   3. We sold over $270,000 during the first 90 minutes of the presentation.
   4. Follow Up Emails: we sent another set of automated follow up emails for five days after the presentation that resulted in $402,693 in gross sales.
5. Total Sales:
   1. 269 sales x $1497 product price = $402,693. We offered the product at a discount (from $2500 normal price) during the launch to incentivise people to buy.
   2. Out of the 269 new customers, 107 of them subscribed to a $297 per month group coaching program. This resulted in an additional $31,779 per month in recurring revenue.

Other Online Sales Records

On November 11, 2016, Alibaba (the Chinese ecommerce giant) broke the world record for most sales in a day. Singles day was an informal holiday for people not in a relationship, and in 2009, Alibaba turned it into a discount shopping day. In 2016, it recorded $17.8 billion in sales in that day alone.*

For comparison, Adobe Digital Insights reports that 2016’s Cyber Monday hit a new record of $3.45 billion spent online.

Alibaba Biggest Day: http://money.cnn.com/2016/11/10/technology/alibaba-singles-day-shopping-festival-breaks-records/

Where To Start:

The world has changed and you MUST adapt in this new economy. You may not see your small business as ever becoming a billion dollar company, but unless you step up your game and commit to building an epic business and creating a solid marketing strategy, your competition will swallow your market share. You started the business to do something that mattered, for yourself and for your customers. It may not be massive in scale, but if you believe in what you’re doing, then you should have a system that can serve more people.

I started Just Digital to help small business owners succeed but after 5 years, I’ve realized things are just too complicated for most people. It’s why I wrote The Client Acquisition Blueprint; to simplify marketing into 10 basic blocks so you can create an epic online presence and marketing strategy.

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