Product launch is a crucial event for business houses. Just as special as it is the arrival of a baby for parents. They share the same expectations, apprehensions, anxiety and uncertainty. The hard labour put in by the entire team including the Higher Management, R & D, Production, Marketing & Sales is at stake. That’s the reason why industrialists & business owners are always looking out for unique product launching methods and platforms that have maximum consumer outreach & media presence.
Physical product launch events are full of grandeur & glamour. But when it is about accessibility to bigger markets & consumer outreach, there could be no better option than virtual platforms. With a well-conceived Publicity Campaign and a flawless, highly functional Virtual Platform, the manufacturers can create the right buzz and execute a highly impactful product launch event.
Ibentos has unquestionable capabilities in designing social media campaigns and virtual platforms pertaining to product launches. With an experience of over a decade, we have helped hundreds of clients achieve smashing success.
This article is a must-read for business owners who are new to virtual platforms and also for experienced ones who seek to upgrade their upcoming virtual product launches!
Driving Factors for a Product Launch Event
Product launch events are basically designed for two audience groups. Though they are invited to the same event, their purposes are different and so are the strategies to handle them.
A] Target Customers
Identifying target Customer
The manufacturers must segregate markets into separate zones depending upon the consumer type. With respect to their psychology, languages, culture and preferences, the customer approach and marketing strategies could be different.
Pitching the products to Target Consumers
Your product is basically made for consumers, and is designed to meet their demands & expectations. But before it is out for sales, it has to be properly introduced to the customers. For this, you must know their psychology & understanding level. Focus on the following things:
● Highlight the product features.
● State the benefits customers can avail from the product.
● Prove yourself better than your competitors.
B] Probable investors
Identifying target Investors
Investors have fixed criteria of choosing their investment ventures. Do proper research, collect investor data and make a list of genuine investors. Target specifically them instead of trying your luck with the entire investor community.
Pitching your product to Investors
Gaining investors confidence is slightly different from that of consumers. Investors only respond to ventures with a high probability of success. To catch their attention you need to elaborate on the financial aspects of product such as:
● Proposed market size
● Your hold over customers
● Product demand
● High success rate
● Profit margin
● Return on investment
Once you understand your audiences and are certain about your approach strategy, you can proceed towards achieving perfection. Here’s how you to do that!
● Schedule your event at the right time
Launch your product at a time with the highest sales probability. It differs from product to product. For example: Daily grocery items can be launched at the month beginning. Luxury items such as clothes, jewelry, furniture, phones, automobiles etc, can be launched during festival time and so on. Weekends and public holidays should be preferred.
Note: Never make the mistake of coinciding your launch dates with any other product launch.
● Plan the entire event before hand
Once you schedule your event, you must form a task list and corresponding timelines. Don’t neglect the fact that some things may take longer than you expect. So, keep a good time margin and aim to be ahead of the timeline if possible.
● Distribute the work and allocate dedicated teams.
Allocate your finances and manpower according to the task priority. Marketing & Virtual platform should be placed on high priority.
● Design an effective event content.
The content of the event has to be short, to-the-point, appealing, catchy and should be crafted carefully keeping in mind the customers & investors as already discussed in the above section. Keep your text minimum and emphasize facts & figures. The presenting team should have people with in-depth knowledge about the product, market dynamics & media management.
● Design an effective marketing strategy
Product launch event is absolutely a publicity game. Design a good marketing campaign that touches the audience’s nerves. Pick appealing graphics, self explanatory images & videos, easy & clicking language and always make your advertisements media appropriate. Ensure that you highlight the product USPs and features. Design your campaign around a storyline, disclosing the details step-by-step and having reminders and countdowns posts towards the event date.
Choose appropriate media platforms. Television, radio, newspapers, magazines, journals and social media should be targeted. Social media is a powerful publicity tool, use it extensively. Facebook, instagram, twitter, linkedin , ticktok, google are excellent options. Conduct surveys and evaluate which of these work best in the geographies and audience age group you are targeting.
Use influencer marketing and establish media tieups. Use them to generate organic leads as well as for paid promotions.
Note: Please note that the media platforms to fetch consumers & investors may be different. Design separate media campaigns for both the groups.
● Select a good virtual platform
Virtual platforms play a pivotal role in your product launch event. It is the main link between you and your global audience thereby, representing your identity & brand image. Choose a high functionality virtual platform such as ibentos.
What to expect from ibentos Virtual Product launch platfroms?
Functionality features:
Superb Aesthetics, Immersive Environment, Seamless Operation, Simple User Interface, High Scalability, Multiple versions for different smart devices, languages, network strengths, Integration with other applications, Limitless & varied Data sharing options and more.
Structural features:
Customized, flexible & accommodative Design, Attractive Welcome Spaces, Branding Lobby, Seminar Halls, Interaction Rooms, Speaker Lounges, Networking Lounges, Feedback rooms, Breakout & Entertainment rooms, Sponsor’s Gallery, Feedback rooms and more.
Technology support:
Engrossing 2D-3D environment, Controlled attendee movements, performance measurement & analytics, and the widest range of AI-enabled features.
Want to have an experience with our virtual product launch platforms? Visit us at https://ibentos.com/virtual-product-launch-platform/ or book a demo at www.ibentos.com.
