Product launch events are pivotal in showcasing your new product, providing your targeted audience with firsthand experiences, generating reviews on your product, and even acquiring some sales.
Whether or not your product launch event is effective and successful depends on you and the decisions you make. Launching a new product into a market can be very stressful. Here are some tips to ensure audience attendance and to successfully generate a healthy buzz around your product’s launch.
- Determine the Purpose – What do you want to achieve with your event?
Determine the purpose and primary goals of your event in order to tailor your decisions for the product launch. Common goals include increased media coverage, product distribution, consumer awareness, sales, and influencer outreach. It is important to identify and narrow your purpose in order to make important decisions, including target audience and strategy.
- Identify your Audience – Who are you trying to influence?
According to Joan Schneider, author of “The New Launch Plan: 152 Tips, Tactics, and Trends from the Most Memorable New Products” there are three main types of product launch events: trade events, media events, and consumer events. Which one you decide to host depends on who your audience is.
- Trade events are for key influencers in the industry, like analysts or editors.
- Media events educate key reporters and editors, invited to review, on your product.
- Consumer events allow you to introduce your product to new and existing customers.
It is important to narrow your audience and not overlap. This will simplify the marketing and sale of the event and will also guide a majority of your strategy.
- Determine Strategy – How will you create the correct atmosphere for your target audience?
- Venue – Choose a venue that will provide the correct atmosphere for your target audience. Choose a venue that is within close proximity to your targeted audience. You also want the venue to complement your product.
- Theme – The theme should be related to your product or industry. Provide your audience with informative, useful content and activities at the event that will serve as a lead-in to your product, or show them how it can benefit them.
- Timing – Be aware of industry holidays, holiday buying season, etc. Avoid times of the year when people are on vacation or out of town, and host your product launch party when anticipation for your product is at its peak.
- Entertainment – Be different. Differentiate your event from other product launches with entertainment, such as a spokesperson, celebrities, giveaways, etc. Activities should engage the audience and catch their attention. By creating a memorable and worthwhile experience, you will incentivize your audience to attend and—more importantly—leave them with a good impression.
- Sales Strategy – You must address your audience’s needs. For example, at a media event, provide attendees with all the information they need to write an exemplary article, or attract consumers to a consumer event by offering a discount to those who attend.
- Follow Up – How will you maintain influence?
Continue building momentum by following up with your target audience with a call or email. Take advantage of this window of opportunity when interest is at its peak. It is important to not only focus on the product launch event, but to consistently communicate and market your product after the event through various mediums, including social media, online advertising, or print advertising.
Host your next event at Eaton House! Whether it be a seminar, cocktail reception, wedding or product launch, we can work together to make it a success. Inquire by calling +852 3971 8999.