Once you have a new product that is ready to go, you need to schedule a product launch event. But how can you maximize the power of your product launch? Be sure to keep in mind the following points.
Be cognizant of the timing
Timing is everything when it comes to scheduling a product launch event. You need to launch at a time when your target consumers are available and tuned in. For example, scheduling a product launch in Paris in July would be a recipe for disaster, as Parisians, like most Europeans, are on vacations during the month (and hence not in the city). Your target consumers, as well as major industry leaders and influencers, would likely be completely tuned out. It is important to do a bit of market research here in order to identify the specific times and locations that afford maximum leverage for a launch.
Set a goal for the event
Every successful product launch event has a clearly defined goal that goes beyond just generating exposure for the new product. Are you trying to drive up sales? Is the point to capture media attention? Is the idea to reach out to key industry leaders and influencers? Your event needs to be tailored to reflect your overarching goal. For example, if the goal of your product launch event is to garner awareness of your product by generating media attention, it would probably behoove you to have a media event launch. You might choose to have a press conference, in which you educate relevant members of the media about your product. This ensures that media players can give your product coverage, from writing reviews to filming segments for television programs.
In contrast, if you are trying to introduce the product to consumers directly, a press conference probably isn’t the way to go. In this case you might want to consider an event geared toward consumers directly. Keep in mind that this doesn’t have to be tremendously formal — it can be something as simple as setting up a booth at a county fair or prominent sporting event. It should be noted that in general, it isn’t a wise idea to hold product launch events that cater to multiple audiences. Instead, keep things specific and focus on one audience segment at a time. This will help you to not only market the product you are launching, but also the product launch event itself.
Choose the venue wisely
When it comes time to schedule your product launch event, don’t just choose any old venue. It’s all about location, location, location. All in all, you want to make sure you are reaching your target consumer. This means the venue itself should be accessible to your target consumer, and ideally, the venue should be relevant to the product you are launching. For example, if you are launching a new brand of diapers geared toward moms, it probably wouldn’t make much sense to host a black-tie event in a formal hall. You would be better off launching in a family-friendly, low-key environment.
Pivot International is a product design, development, and manufacturing firm with extensive experience in the medtech industry. If you are interested in engineering a new product or updating an existing product, contact us at 1-877-206-5001 or request your free consultation today.