New products of every kind are hitting the market every single day and each of these is being branded and publicized in a unique way. Product launch is a big event that is organized by the companies to make the people aware of their products. Unlike the older times, these product launches have become technologically advanced and the competition has become three folds than what it was before. This is all due to globalization and the internet.
In today’s time, a detailed plan of action is required in order to plan and execute a successful product launch. It is important to note that the success of a product greatly depends on the feedback the launch gets. Getting the attention of the common people and media is a very difficult task and it has become extremely important to stand out.
If you have a new product lined up for launch and your team has worked day and night to create it and develop the best product in your capacity. It is obvious that you would want the launch to be as magnificent as possible. The first thing that is proposed to the companies launching new things is a product launch. However, planning a launch is not as easy as it sounds. Sure you can hire a team to work for you and make all the arrangements but there is nothing better than taking matters into your own hands. If you are a beginner and do not know anything about how and what of the event, do not worry! Here is a list of all the things that you need to involve in your plan in order to have yourself a successful product launch event.
The Goal Of The Product Launch
Decide the objective of your product launch. You need to decide whether the product launch is an internal or external launch. Some companies host a launch especially for the existing customers to see their reactions before spending a huge amount of money on launching it to the whole world. Another thing to consider is the objective of the launch. You are having a launch to sell your product or just build a customer base for it? Sit down your whole team and discuss the objectives in detail.
The Theme And Target Audience
Decide a theme for the product launch event. The theme should be in accordance with the product. Make sure you have a logo and a tag line before you decide a theme. The logo is the basis of all the arrangement and activities that will take place. Each event has a specific group of audience that it targets. For example, the makeup companies target adolescent and adult women and a product launch will obviously be something that this group of people likes. Similarly, take the target audience into consideration while planning the theme and decor of the launch.
Budget is a huge factor in making the plan for your event. All the preparations like the venue, catering, decor etc will directly depend on the budget. Once you have a plan for the event all ready to execute, decide a feasible budget that does not burn a huge hole in the companies pocket. Once the budget is decided, make sure that it is used with caution. Do not under spend but also keep the spendings in check. It is alright to cut costs at places where it is possible. However, this should not be done at the cost of compromising the quality.
The Date And Time
The date and time are two factors that greatly affect the presence and absence of the audience at your event. Choose a date and time according to your target audience. If you want to attract the working class, make sure the launch is helping during the weekends. Furthermore, having a launch on the weekend is a smart choice for every kind of target audience since people are free during this time and are more likely to spend more money on shopping.
The venue is also a very important part of an event planning. Make sure that the venue you select is in accordance with the theme of your event. Also, the venue should be big enough to fit all the attendees. Select a venue that is easily accessible and has a parking area for the attendees to park their vehicles.
The setting of the event also greatly influences the kind of food you serve to the attendees. You might want to serve foods that go with the theme of the event. Since the launches are usually for the adults, you can also consider serving them alcohol.
Entertainment For Your Product Launch
Depending on the type of audience and the size of the event, decide what sort of entertainment you want to include in your event. Some sort of entertainment is a must to attract the people. Involving the people in the activities as much as possible is the best way to keep them interested and the audience entertained. You might also want to give the buyers some complimentary gifts and prizes.
Promotion and publicity during the Event
Any event needs a fool proof promotion and publicity plan to become a success. There is nothing more important for the event than attracting the right kind of audience. Publicize your event on each and every public platform. Use free social media marketing and event marketing to attract the audience. Also, print flyers and host small online competitions to keep the people interested.You can also ask famous bloggers and celebrities to join your event and publicize your product on their respective social media pages. This will automatically turn their audience to your product.
Follow Up After The Event
The success of the event does not mean that the product will succeed. Make sure you do a follow up with all the attendees after the event. Ask them about their experience and feed backs. Send them offers and discounts through emails. Do not shy away from making changes to your product even in the last minute.
If you follow all of the given steps and use your creative brain to make some changes in it, you can have yourself a successful event in no time. Keep in mind that each product is different and the audience for each product is different. So make the changes in the plan according to the target audience. All in all, let your imagination flow and add all the things that you think might be attractive to the people.