Your Guide to Planning a Successful Product Launch

Your Guide to Planning a Successful Product Launch

Back in July, we delved into the world of roadshow events and offered up our expert advice on taking your brand on tour. This month, we’re shining the spotlight on another type of promotional event with our guide to planning a successful product launch.

Whatever industry you operate in, launching a new product can be a stressful experience. With a huge amount of time and effort put into its development, its success now depends on how you take it to market. To eliminate some of that stress, follow our simple step by step guide below:

Choose your product launch format

Product launches come in a range of styles, each with their own specific purpose. So the first step towards making yours a success is identifying your end goal and deciding which format will help you to achieve it. To help you get started, here are three common goals and their optimum event type:

  • Goal – Persuade industry influencers to champion your product
  • Event Type – A trade event will attract the relevant industry audience, allow you to boost your profile and presence within that specific industry and provide a platform for your product to be seen by those all-important influential eyes.
  • Goal – Gain mass exposure for your product
  • Event type – This goal requires a media event, with influential members of the press in attendance to experience and review your product.
  • Goal – Sell your product
  • Event type – Of course, this is really the end goal of any product launch, but if your event aim is specifically to generate sales, you’ll be looking to host a consumer event where your relevant target market come along to experience your product first hand.

Develop your sales strategy

Having identified your product launch objectives and the relevant format for success, you’ll also have identified your audience. Now it’s time to plan the methods that you will adopt to entertain and engage them. Here are a few questions to get the ball rolling:

When and where will you hold your launch? Timing and location are crucial to success and both should relate to your product. Is it seasonal? Is a certain type of venue more suited to its nature?

How will you showcase your product? Will you hold live demonstrations, presentations, interactive workshops where your audience experience your product in a real life environment?

How will you promote the launch itself? In order to promote your product, you first have to promote the product launch itself. Direct emails, social media and press releases should all appear in your marketing strategy.

What supporting materials do you need to produce? Printed literature, videos, poster board displays, goodie bags – don’t just opt for any old promotional materials. Decided which will support your goals the best and make them relevant.

The most important thing to bear in mind when developing your sales strategy is that the focus should be on your audience and how your product can add value or benefit their lives.

Frame your launch with a theme

Whether it’s fun and quirky or serious in tone, a well-chosen theme will give your event an identity for your audience to connect with. Be sure to choose one that supports both your product and your wider brand.

Themes also promote social sharing – a key element of any successful product launch. Straplines turned into hashtags, pre-designed photo opportunities and topical activities will all encourage attendees to share their experience, thus promoting your event to a wider audience.

Venue dressing, guest speakers, entertainment, workshops – every element of your event can be built around a core theme that helps to drive home your key messages.

Source the right suppliers to help you achieve all of the above

From marketing professionals that will help generate a pre-event buzz to the technical teams that will create the perfect atmosphere with staging, light, sound and special effects, finding the right people to work on your project is crucial.

Whatever their role in the event, your suppliers should take the time to get to the heart of both your brand and the product in question. They should also familiarise themselves with your target audience and your planned methods of communication. Only then will they be able to offer the right guidance and support to help you achieve your goals.

View the launch as the beginning, not the end

Whilst planning your product launch will take considerable time and effort, it is only the beginning of an ongoing journey. Your marketing efforts should extend way beyond the event and it’s crucial that you have in place strategic follow-up methods post launch.

If you’ve successfully gathered a number of qualified sales leads, have pre-planned procedures in place to progress these relationships. If your media event results in high-level praise for your product, be sure to share this as widely as possible. Continue to promote your launch after its execution by making the most of any relevant content to come out of the day itself.

It is unlikely that your product will become a monumental hit overnight, but with the right level of commitment, strategic planning and optimum support, your product launch should provide a strong foothold for your journey to market success.

Talk to us today about your product launch needs - from AV support to design and content solutions, we have a range of services to help make your event a great success. 

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