You finally have your new product ready to go, and are ready to launch it into the world. You might find yourself wondering whether or not you should host a product launch event. While these events are high-impact and can help you leverage press potential to its fullest, they certainly aren’t cheap. Depending on the nature of the event, a company may need to shell out money for a venue, food, drinks, and entertainment.
How to host a product launch event
This can be especially difficult for start-ups that may not have large budgets, to begin with. Are product launch events really worth all the time, effort, and money? The short answer is a resounding yes.
Whether it’s Coke launching a new type of Coca-Cola product, or Chanel announcing a brand new fragrance, major corporations never just ship their products to new stores. They hold product launch events, which not only work to garner press attention, but also introduce the product to a key group of people. “When Apple launches a new product, you don’t see some PR lackey trundling out onto the stage to read a press release,” prominent digital advertising company KISSmetrics explained. “They stage an entire event around it, going so far as to even close their online store, so that everyone knows something important is happening and they need to pay attention.”
The bottom line is that a product launch event requires a lot of time and effort, but your brand will certainly reap rewards. Here is what every brand should keep in mind when deciding whether or not to a host a product launch event.
Invite key people
When it comes to planning a product launch party, the guest list is crucial. Of course you want the press to be there, but you also want key people, including influencers, in your niche. They are the ones who will help get the word out about the product to your target consumers.
Consider a rolling launch
The pace of news these days is faster now than it ever was. This means that getting and maintaining media attention for any prolonged period of time can be real challenging. Therefore, it can be a wise idea to consider a rolling launch. Launch a series of outreach activities a month or two before the official launch date. This can be especially beneficial for social media marketing, as well as for capturing the attention of leading bloggers or specialists in your specific niche.
If you don’t have the budget for an all-out press event, shoot for a low-key event online. If finances are tight and you simply don’t have the budget for a major event, don’t ditch the idea of a product launch event just yet. At least have some type of online event. “If you make a big deal about your product launch, both your potential customers and the media are likely to take it more seriously, and it’ll be reflected in your product sales,” KISSmetrics advised.
Pivot International is a product design, development, and manufacturing firm with strengths in software development, electrical engineering, mechanical engineering, and industrial design. 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.