A product launch event is mainly a promotional tool where you get to announce the next big thing your company has been working on. The goal of planning a product launch event is to initiate a big boost in sales as well as to make the customers aware of the product being launched.
In this digital age, companies can’t just draft a press release before any product launch in the hope that the users will come in anticipation.
Hence, planning an event to launch a new product is not just a smart marketing move but also an initial step to promoting any new product. So if your company has big news in the form of a new product, you must inaugurate it with an event.
Powerful Tips to plan a product launch event that’ll get you going-
Venue
First and foremost, you would want to choose a location for your event that allows your product to be highlighted most properly. It is obvious that your product is the only thing that should be emphasized more, but a well-facilitated venue can help the company to market its product to the attendees.
Along with general faculties, the venue should have creative displays, décor, and spacious rooms that can enhance the branding of a product.
One thing that has played a pivotal role in making a product launch event a success is associating the product with the venue. Suppose if your company is launching new software, then you must opt for the venues that have been used earlier for numerous tech and I.T shows.
Know your Target Audience
Events like product launch work as a communication tool between the audience and the company. It allows the company to make a distinctive strategy-based approach toward the targeted audience in such a way that the product can take center stage.
Targeting or knowing your audience refers to identifying the group of attendees that are specifically influenced or receptive to your event marketing efforts.
In other words, your event will be as successful as the company’s efforts to pinpoint a specific group of audience that may come and react positively to the launch.
Proper Market Research
The current market is overly saturated with consumer products, yet the quest to develop and release new products still remains the number one business objective for established companies and startups. So, proper market research is what the doctor prescribed amidst the hub of launching new products.
Conducting market research will not only give your company an in-depth insight regarding intended customers but also reduces instrumental business costs such as packaging, production, and advertisements. The purpose of market research starts from recognizing the market needs of a product to testing and identifying the product’s place in the distant future.
For example, Starbucks has been in the game of market research through its “Transformation Agenda” since 2008, and that has helped the company in many ways.
Build Hype and Anticipation
Many small companies make the mistake of perceiving that only the biggest brands can build hype and anticipation around their products. As the market gets competitive yearly, generating hype before a product launch is a mandatory step. Creating hype will trigger the initial boost before a launch, stabilizing the companies’ targets to reach n sales in a short period.
Today social media and email marketing have enabled many small and big companies to create hype without having to spend much money on hyping the product. Many companies often share sneak peeks of the product or announce giveaways through social media posts to create the necessary momentum.
Companies like Glossier created a cult following for their product fans in numerous social media platforms, which has helped the brand build hype and anticipation before any product launch.
Event Production
On D-day, event production is what makes or wrecks the event. Event production is one of the most important segments of planning a successful launch event. Production covers a wide range of elements, from decorations and activities to creating something memorable for the event’s audience. Customers are bombarded with product messaging daily, so a launch event is what makes a certain company stands out from its competitors.
Nowadays, many companies opt for reputed event production teams that can liven up the event to the already built hype. With the help of any production experts, your company can also create an engaging and memorable experience for the audience. Many big brands such as Ray-Ban, Audi, and MAC cosmetics turn to MKG’s creative agency whenever they need to create spectacular product launches.
Press release
With the increase of real-time communication options, new doors for business communications have opened and breathed life into old methods called press releases. A press release is one of the most cost-effective publication tools which especially benefits growing small businesses.
From the grand opening to the new product launch event, each press release publicizes useful information regarding any upcoming event or one that has occurred. So, in terms of the product launch events, one can easily draft a press release and get their event news found on all major social media networks and search engines.
A successful press release will improve the brand image as well as drive people to events through images, videos, and other multimedia. Hugely renowned companies such as Amazon and Cadbury use press releases to announce new products or information.
Event Goals and Objectives
Having a clear vision of the objectives for a product launch event will only keep the company a step ahead in the race. Whatever your company’s visions and objectives are, they should be expressed in key phrases and art so that these phrases are used consistently throughout the event to communicate.
Some companies tend to dazzle the audience with event experience or want to create a vibe for intimate conversations, while some let the product take center stage. The visions or objectives may vary, but the goal of any product launch event is to create a brand experience for the attendees.
For Example, Apple’s product launch event may look simple, but it is carefully manicured to expand and echo brand values.
Messaging and Positioning
Messaging and positioning have got to do with refining a product narrative that focuses solely on the valuable aspects of any given new product through messaging. Most B2B companies make the mistake of not spending enough time on messaging and positioning before product launch, thus affecting the event.
The proper messaging at launch events can make the customers evaluate your product against the customers. While every company has the urge to communicate the features of a new product elaborately, at launch events, messaging needs to be simple, short, and persuasive at the same time.
For Example, Apple’s messaging while unveiling their iPhone was, “With the power of 128GB storage built in and up to 512 GB of expandable storage, you’ll have room for what matters most.”
Launch Event Invites
Inviting potential clients, prospects, or customers to an event is one of the aspects of doing business. Extending an invitation creates a personal touch that can make the selective attendees at your product launch event feel special.
In order to ensure an influential turnout for the event, you would want to invite individuals who can boost your product sales, such as analysts, journalists, influencers, and bloggers.
Through invites, you must properly inform the attendees about the event location, program, and parking facilities so that there aren’t any grim faces present during the event.
Beta Testing
You have followed all the rules and procedures to plan a perfect launch event, but a certain error in the product can ruin the event. With beta testing, you can choose a group of users or beta testers to use your company’s product before the launch.
They would provide you with valuable feedback in exchange for early access, and with that feedback, your company could make the necessary changes to the product.
Beta testing provides an idea of how the product will be received on the launch day, and at the same time, it ensures that the product provides an outstanding user experience.
The Right Time
For a new product to be launched on the event day, the timing of the event is instrumental in attracting crowds and optimizing revenue and profit. Product launch timing is often overlooked by people who are new to the norm of product launching.
In order to have a good crowd for the product launch event, you’d want to time your product launch event to the point when the market is ready for the features and benefits your product has to offer. If you launch too early, the customers might not understand the value of the product, and if you launch too late, you may miss the window of opportunity.
For Example, Over the past 12 years, Google has been launching Santa tracker, an educational yet fun game that parents and children enjoy during Christmas. Although there are some industry-specific holidays or explore times of the year, you can choose where the industry sees peak inactivity.
Be Market-ready
Whenever there is a whole new product to be launched by a certain company, the product takes the company itself into a new space or domain where the company doesn’t have much authority or experience. So in those circumstances, the best thing to do is to be market ready and start creating content based on that new space before the product launch.
In this way, you will have the chance to see what kind of content resonates with the people prior to the launch. Now, the created content should be seeded for SEO purposes which will eventually establish your company as the expert in the market even before the product launch.
For example, Red Bull media house continues to impress the world through their inpirrtional content and large events.
PR Plan
In this digital age, word of mouth is still a priceless way to create a buzz around the event. Creating or investing in a PR plan is as important as ensuring the food and beverages for the event.
The majority of the companies already have an internal department dedicated to public relations so that any upcoming events are publicized in the best way possible. So if your company has the budget to hire a PR agency, hire one to work out the influential guest list and share your vision for the event.
For Example, some of the biggest brands like Starbucks and Microsoft hire America’s best 60-year-old Edelman PR agency.
E-mail Strategy
A company can have the greatest product in the world, but the event won’t sell itself without a proper product launch event plan. One of the most important parts of planning a product launch event that people often forget is the email strategy. While building a communications strategy for an event, it is pivotal to build an email list through a simple landing page.
With the help of an email list, you can herald the arrival of your new product to the people and entice them to attend the event. Make sure the emails are persuasive in nature so that you can convince them to accept your product.
Social Media Activity
In the weeks leading up to the event day, you have to put together a marketing strategy that promotes the event through all social media platforms. Some of the ways involved are posts written on Facebook, Instagram, and Twitter, as well as email newsletters, social media contests, and specific hashtags.
While each and every aspect of social media is there to help but using hashtags to promote product launches is one thing that generates the most amount of interest. With the use of hashtags, you can also encourage customers to use your brand’s very own hashtags to win giveaways.
One of the things that social media stands out is that it allows different companies and brands to influence their minds even after the product launch.
Interactive Entertainment
Although entertainment is last on this list but certainly not the least important for an event, nowadays, products are being launched in a new interactive way that provides a fun experience to the guests while educating them about the product.
With the introduction of such a modern marketing method, you can actually connect with the audience instead of telling just about your company’s product story.
So it’s time we say goodbye to those unengaging factors and elaborate explanations and instead an experimental event. The event would make a lasting memory for the attendees when you are able to create an experimental and interactively entertaining event.
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