How To Organize A Spectacular Product Launch That Drives Sales

Over 30,000 new products are estimated to be introduced to the market every year and around 95% of them fail to make a mark. It is becoming extremely difficult for new products to make an impact as the market is getting flooded with products and services of similar features. In the absence of a strategic product positioning strategy and a solid product launch plan, most new products fail to sail through the initial stages and attract prospective customers. Hence first and foremost you must put in place a perfect strategy to ensure a successful launch which is an important stage in your product roadmap.

Why Product Launch?

A well designed and executed product launch event builds an excitement and awareness in the marketplace in favour of your product. Apart from your teams, bring on board your suppliers, dealers, distributors and retailers for the success of the new product. Of course, you must take into confidence the most important stakeholder who holds the power to make or break your new product – your existing and prospective customers. Product launch event is the perfect occasion to showcase your customer orientation which will stand your product in good stead in its success.

Launch Strategy

It should be a concept to conclusion product launch strategy including key objectives, goals, performance indicators, activities, teams and their responsibilities. With a clear strategy and plan, you can ensure that everyone and everything are properly aligned and performs with picture perfection to derive the desired goals.

Checklist

One of the first steps while planning a perfect product launch is to make a checklist indicating all the tasks, responsibilities and target dates. Status of preparations for the launch event should be reviewed from time to time based on this checklist. This will enable to identify bottlenecks and unblock them on time and the event culminates in its successful execution.

Invitee List

You need to compile a list of guests who you want to invite for the launch event. The list normally consists of existing and potential key customers, influencers, your associates like dealers/distributors, suppliers, industry leaders and other stakeholders. Of course, you cannot overlook the media coverage that your mega launch event could attract. Add the local media-persons to your invitee list. If you are keen to have an eminent dignitary as chief guest, invite them well in advance and get confirmation.  You can highlight the chief guest’s name in all other communications.

Theme

You already have your company with brand and logo. You also may have given an exclusive name to your new product. Still you can design a separate theme for your launch event. The theme should align with your corporate vision and the positioning statement of your new product. Look for a creative event management agency in your vicinity that can understand your need and design an appropriate theme. A theme based event planning and execution is considered progressive and professional and will add credibility to your product and corporate image.

Pre Event Promotion

Promotion is very important and powerful to determine the success or failure of an event, more so in a product launch. Online promotion using social media platforms is most effective and cost efficient. You need to focus on creative and innovative ways of promotion.

Teaser Campaign: As part of your promotional communication, start with creatively crafted “teasers” well in advance to your target audience, without revealing the new product. After sending out a series of teasers at regular intervals, now it is time to reveal.

Revealers: While revealing the new product, you need not explain everything in one shot. For better impact and effectiveness, a series of revealer mailers can be designed depicting the salient features of the new product.

Creative and innovative marketing communication will create a buzz in the market about your new product. The first impression so generated will prove to be the best impression for the success of your product in the marketplace.

Corporate/Product Video

In today’s fast changing digital era, the video communication and promotion is the most effective and cost efficient. Whether it is a teaser, revealer, promotional or informative, your audience likes to watch creative short videos, rather than texts. A leading corporate video production company of your area can craft creative videos about your company, product range, and specifically the new product about to be launched. You can convey your messages or share information in a much better way by screening videos during the launch event which will keep your audience on the edge of their seats.

Product Kit

You need to create a product kit which can contain brief corporate details about your company, product range and salient features of your new product. The product kit in an attractive and custom-made carry bag should be easy to carry.

Giveaway

It is a good idea to present useful giveaways to your guests. You can think of miniature model of your new product, branded keychain etc which are long-lasting and will play the role of a reminder for your guests.

Unveil in Style

New product launch is all about unveiling the product in style. While the presence of your chief guest and other dignitaries may have their own significance, ensure that the importance of your new product is not overlooked. Remember, your new product should remain the star attraction throughout the event. Your product deserves a mega launch for which you can use the latest technology to unveil the product in style. An innovative event management agency can make it happen with audio-visual blitzkrieg.

Past Learnings

Learn from your own past product launch events and tap the loopholes, if any, this time. You can also analyze similar events organized in recent times, especially your competitors. This will help you to plan and execute a masterpiece event. Innovation is the key in such events. A tech-savvy event planner can make it happen.

The MATChBOX Experience. Simply Matchless!

MATChBOX is a leading total communication solutions providing company with over 13 years of experience and expertise in end-to-end event management pan-India. MATChBOX is a one-stop shop for everything in event management. Besides a result-driven event team, MATChBOX is equipped with creative graphic designers, content developers and visualizers, corporate video experts, and digital marketing experts. Thus, you don’t have to look elsewhere or liaison with several agencies for each task. MATChBOX is your dependable event management agency with concept to conclusion event expertise. Team MATChBOX is just a call away.

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