Most industries today are oversaturated with products. This makes it difficult for entrepreneurs and small business owners to launch successful products. Nearly all of the new releases made by both small and big companies fail.
In some cases, these new releases don’t become successful because the product is simply bad and doesn’t provide consumers with any real benefits. However, others fail only because they’ve done a bad product launch and haven’t generated a lot of hype. To ensure that something like this doesn’t happen to you, here are some essential tips that you should follow.
Determine the venue
When you decide to create a product launch event, one of the first things that you’ll need to ask yourself is where it will be held. Ideally, you should find a venue that will be easily accessible to people in your area. The location you choose will have an impact on how many people will attend the event, so decide carefully.
Be selective with invitations
What you want to do when you host a product launch event is generate as much hype as possible. This will help ensure that people who didn’t even know the event was taking place will hear about it and your new product. That’s why you should be selective with invitations. Start by inviting bloggers, influencers, and journalists.
Once you invite them, it’s time to get in touch with some of your most loyal customers and ask if they’d be willing to come to the event. It’s always a good idea to have people who love your brand at the event, as they’ll help you determine how much your core audience enjoys your new product.
Create a memorable experience
Although your main goal is to promote a new product or service that you’re releasing, you should also focus on creating a memorable experience for people who attend your event. Try to come with creative ways to present your idea to attendees. One example would be hiring a video game developer to create a simple 2D game that demonstrates the value of your new product in an entertaining way.
You can also use virtual reality to create a memorable experience for people in attendance. What’s great about this idea is that it can be done on a budget. Nowadays, a lot of companies rent laptops for a product launch and even VR equipment. In fact, some even hire tablets or smartphones that they use to gather customer feedback at events.
The follow-up
When the event is done and everyone starts going home, you need to follow up with your audience online. This is a great way to increase sales and boost the number of pre-sale orders you get for your new product. To do an effective follow-up to the event, you need to connect with the people who attended it on social media. Share photos, tag attendees, and respond to comments and questions from your customers to ensure that your product launch event gets the hype it deserves.
3 Dimensional SaaS Pricing and How Essential it is as Cited by Josh Melick
