The importance of a great product launch event cannot be overstated. Momentum is everything! Curating a fantastic first impression to both your customers and the market-at-large can have a drastic, long-lasting impact on your product’s success.
On the other hand, an underwhelming launch can have negative effects, increasing the likelihood that your product fizzles out and fades away faster than you can say “Microsoft Zune” or “Google Glass”.
Consider these five tips when preparing for your next release and ensure you launch your new product with a bang, not a whisper.
1. Create Hype for Your Launch Event
The hype machine is, in fact, real. A truly great launch will have people everywhere wondering what all the fuss is about. Once they’ve discovered your product for themselves, they’ll be sure to leave their own enthusiastic reviews, increasing momentum even further.
In today’s e-commerce driven environment, reviews are valuable social currency. According to Bazaarvoice, just 50 reviews have the potential to increase sales by 30%!
With social platforms like Twitter, Instagram, and TikTok being viewed as conversion drivers and trend spotters, generating online awareness has never been more important. In addition, the onset of the COVID-19 pandemic greatly accelerated the adoption of e-commerce to the masses: According to McKinsey & Company, 10 years’ development happened in Q1 2020 alone. A strong online presence should no longer be seen as optional in your product launch, but rather a requisite piece of its success.
2. Anticipate Uncertainty
If the COVID-19 pandemic has taught us all anything, it is to continue to expect the unexpected.
Manufacturing and supply chain delays remain a challenge for many industries, including automotive, fashion, and electronics. Throughout 2021, shipping container prices increased tenfold, the pandemic adversely affected manufacturers in developing countries, and consumer spending increased significantly in North America, further exacerbating existing issues.
Sony’s long-awaited PlayStation 5 video game console, which was released in November 2020, was met with immediate supply challenges, citing a worldwide semiconductor shortage. Coupled with the increased desire for video game consoles during the pandemic, Sony nonetheless still managed to break its previous generation’s launch records despite the shortage.
This would appear to be a success at first glance. However, with unauthorized resellers driving up resale prices of the new console and online communities forming around predicting product “drops” at retailers, the hype had become so large that Sony still had room to grow their sales significantly. So, they pivoted to extend the life cycle of the previous PlayStation 4 console past its original expected discontinuation in 2021 to try and meet consumer demands, and continued to produce both PS4 and PS5 in tandem into 2022.
The challenges that COVID-19 brought will affect both product availability and consumer trust well into the future. Your product launch needs to be robust enough to forecast how to overcome these challenges and more.
3. Plan Early
How do you create hype and anticipate the unexpected? The best way to do so is to start planning early. Here are our recommendations for elements to consider:
- Begin brainstorming your launch 6-12 months in advance. This often involves communicating with retail partners, event planning, and scheduling product availability dates long before the launch.
- Ensure your creative team readies a concept 5-6 months prior to launch. This way, you can align everyone executing your marketing in correctly promoting the product’s branding, unique selling propositions, and key features.
- Distribute the product to brand ambassadors at least 90 days before launch and begin to give product samples to consumers to start generating ratings, reviews, and images. This early feedback is pivotal and allows you to course-correct or adjust materials if needed prior to the official launch.
- In the weeks prior to your product launch, run countdown campaigns across your brand’s social media channels. This can include CTAs for consumers to sign up for email alerts, teaser videos, and social media-specific presales. Don’t forget product-specific or event hashtags to help you go viral!
4. Curate an Exclusive Launch Event
Ideally, you should build your product launch event around two groups of people:
- Your existing customer base and social media followers; and
- Those that can help grow your following to help your product reach new heights. Examples of this would be influencers, media, and industry experts.
Your existing customers already know and love your brand, so be sure to find ways to give them an experience that is both on-brand yet unlike anything they’ve experienced from you prior. Encourage exclusivity throughout. This can be as simple as a product-related goody bag or discount code, or as elaborate as a one-on-one VIP session at your event. These experiences are proven to improve sales: 91% of consumers “have more positive feelings about brands after attending events and experiences” and 85% are “likely to purchase after participating in events and experiences,” according to EventTrack.
For influencers, sample campaigns and other branded goodies are a great way to get buy-in prior to the event alongside an invite to the event itself. It’s a small price to pay to gain access to a loyal following that may not otherwise have exposure to your products.
Attendease, the leading event registration platform, can help you organize and leverage your product launch audience. Our built-in templates and easy-to-use, drag-and-drop interface enable your teams to quickly build and launch event websites, registration, and communication flows that are on brand and look amazing. The Attendease platform provides the foundation that ensures all event details are addressed, changes are simple, and repetitive tasks are automated—allowing planners to focus on amazing event design.
If you’re still not sure where to begin, we recommend reading our guide on How to Plan a Successful Product Launch Event.
5. Have a Follow-Up Plan
The hours, days, and weeks after your launch event present an opportunity to squeeze every last drop of hype out of your release, so don’t miss out!
This is a crucial time to capitalize from customers new and old who could not make your event but wanted to, or those who have heard the hype but were hesitant to commit at first. Use the same strategies you employed pre-event (i.e. exclusive hashtags, email campaigns, and social media activity) and combine them with newfound footage generated by attendees over the course of your launch for added social capital.
Conclusion
A successful launch is not a flash in the pan, but rather a well-thought-out process that helps build momentum and drive your product forward before, during, and after the launch. The stronger the launch, the bigger the hype…The bigger the hype, the stronger the reviews…And the stronger the reviews, the more success your product will have.
Book a free consultation to learn how Attendease can help you configure your event registration process and provide a smooth registration and post-event experience to your attendees.