A product launch event plays a crucial role in the overall success of a product since it opens up the brand to new markets and helps engage a whole new generation of customers. Hosting an impeccable product launch event in a cluttered marketplace is a challenging endeavor since a large number of similar products are launched into the market each day and customers get attracted to a product just because of the distinct qualities it offers and the manner in which it gets released into the market.
Hosting a successful and incredible product launch event can be a challenging task since it requires putting in substantial efforts and time planning the details and determining what will work best to make it a roaring success. For everyone facing difficulty in organizing a product launch event, we have brought forth this blog that will share the ideas to organize a product launch event.
Ideas to Organize A Product Launch Event
We will now share the list of ideas you can use to organize a product launch event:
- Determine the Goals and Objectives for the Event: One of the first steps is to determine the goals and objectives of the event that will help you organize the right type of event to meet the desired outcomes. Determining your event objectives in advance is essential since it will dictate the choice of everything and help you direct your efforts in the right direction.
The three key event types include the following:
- Trade Events: The purpose of trade events is to describe a new product to industry influencers that will lead to higher product awareness in the industry that you deal in.
- Media Events: Its purpose is to educate important and influential members of the media about a new product in order to get reviews and write-ups for the product.
- Consumer Events: The purpose of these events is to introduce a product to the audience and this type of event is usually less formal. The main aim is to pitch the product to prompt the audience to purchase it.
- Determine and Pick An Event Timing: Timing a product launch can bring the difference between success and failure. This is particularly important in case the product has a global audience and you must consider the product’s target audience and the type of product you are launching when determining the optimum times of the year to launch the product. For instance, the launch of a consumer electronics product or toys usually coincides with the festive season.
You must time your launch event after checking competing industry events and holidays to ensure that the audience actually turns up for the event.
- Scout Venues and Book a Venue: The choice of the event venue is crucial to the success of the event since it must reflect your product and your brand, hold the capacity for your anticipated number of guests, allow you to project the image you seek to project, should be easily accessible for your guests while also fitting your budget. You must scout venues in your region and visit different venues to examine whether they fit your requirements.
Compare different venues in terms of their services, amenities, prices, interiors, etc and book a venue you finalize well in advance.
- Pick the Theme for the Event: The next step should be to pick a theme for your product launch event. The theme you pick should be professional and must be associated with your product or at least the industry in general. Further, you must ensure that the theme is represented and implemented throughout in your food, furniture, decorations, music, furniture, etc.
- Prepare an Event Checklist and Create a Project Team: An essential step is to prepare a checklist for the event listing down all the event activities along with the schedule when each activity needs to be undertaken. Review the event checklist throughout to track the progress of the event activities.
Further, you must build a project team and assign specific responsibilities to each team member and build a reporting structure in order to track the work progress of each team member.
- Determine your Event Marketing Strategy: You must plan a marketing strategy for the event which should specify the mediums that you will use for event promotion and marketing. Besides using offline means such as bulletins, advertisements, etc, exploit the power of social media to promote the event, increase audience participation, boost event registrations and increase the product awareness.
Build official accounts on social media handles such as Facebook, Twitter, LinkedIn, etc and add posts and videos advertising the event routinely and add registration link on official account pages. Ask your followers to like and share your posts with their community to increase audience participation and boost registrations.
- Formulate A Sales Strategy for the Event: You must build a sales strategy for the event that will include determining the means you will use to display your new product, the type of presentations, branding materials or displays you will require, determining whether you will stick to passive displays to communicate about your product or there will be a formal presentation during the event, planning whether you will provide brochures, videos, live demonstrations or what other means you will use to introduce the new product to the audience.
- Design a Menu and the Entertainment Options for the Event: You must design a menu for the event by researching what is usually served at similar product launches by competitors. The menu can vary from region to region and you must design a menu effective enough to keep your guests delighted. Further, you need to determine what sort of entertainment you will offer at the event that can include a DJ, a live band or performer, an event speaker or anything else that can add value to the event.
- Scout Vendors and Sign Contracts with Them: After finalizing your menu and entertainment options, you must scout vendors for different type of services. Hold meetings with the different vendors to judge the quality of their services, get quotes from them and compare formal proposals laid down by different vendors for finalizing vendors for the different type of services that match your requirements and expectations. Finally, enter into contracts with them.
- Prepare the Schedule for the Event and Plan On-Site Details: You must plan out the schedule for the event listing down the events along with their timings to ensure that everything proceeds smoothly. Further, you must plan out the on-site details that will include determining the schedule of when each event aspect must be set up and planning out the specifics of the event day. This involves coordinating with the vendors, event authorities, performers, guest speakers and everyone else while communicating them the schedule for setting up the event.
- Plan the Content for the Event: After determining the means you will utilize to introduce your product to the audience, you must plan out the event content that you will use to introduce and advertise your new product or service to the audience. You must plan out the content keeping your target audience in mind and the content must be so powerful to be able to prompt the audience to purchase your product or service.
- Plan How you will Follow Up: The hype will die a few days post the event and you must plan a follow-up strategy to keep the momentum going for your new product or service. You must plan the follow-up strategies you will use to keep the hype going. You can consider distributing flyers or event packets during the event in case your event is audience-centered and can use e-mail marketing for reaching out your audience and influential industry guests.
Conclusion: We hope that this blog will familiarize you with the ideas to organize a product launch event.