6 Tips For Doing a Product Launch Right

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6 Tips For Doing a Product Launch Right

Any product manager will tell you that launching a new product can be an exhilarating uphill battle, with the finale culminating in an incredible event that tells your audience that you have arrived. No matter what industry you operate in, you are faced with many complex decisions and a myriad of considerations that could make or break your product launch event. If you are on the precipice of introducing your product to the market, take the time to marinate on these 6 tips for perfecting a product launch. So that you deliver a launch party that is worthy of your product.

Give your event an edge

If done correctly, your product launch event could be more powerful than any marketing campaign. Establish a personality or feel for your product and try to emulate that in the venue you choose, the styling you pursue and the experience you deliver. Sydney photo booth hire can be a great way to capture a concept, and it means that your attendees are leaving the event with pictures honouring your company and product. Exposure for you and fun for your guests!

Set clear objectives and intentions for your product launch

So many companies will plan and host a product launch, only to realise after the fact that they didn’t really get what they needed from that huge commitment of time and money. Decide whether you are throwing this launch to attract publicity, engage investors or provide a forum in which your potential customers can interact and provide feedback on the product. If you clearly define what these event objectives are, you will have a better chance of meeting them. 

Keep the buzz alive

A great event tonight will not make you relevant in three days time. You want to keep this momentum going and have your audience and future product users riding that wave with you. There are a number of ways you can achieve this. At a minimum, you will want to be capturing their data (name, email, phone) so that you can continue to communicate with them after the launch. As valuable supporters of your product, you may even want to offer a discount or member perk to incentivise customer loyalty

Decide whether you are planning this party in-house or outsourcing

Who and how this product launch is planned will depend on your company and the resources you have inhouse. There is no wrong option here, but it will guide the type of event you throw. So consider what this launch means for your business and what success you have riding on its success. A benefit of hiring an agency to plan the party is that they do this for a living and will have access to the best suppliers and ideas, taking it off your plate.

Know the competition, and do the opposite 

You would undoubtedly know what your competition is doing, as any good product manager would. It’s important when you plan your product launch that you are aware of what the standard is within your competitive set, and work to do it different… and ideally, better. Watching what the market is doing can be a trap if you watch too carefully, but your product launch should be researched entirely so that you throw an event unique to any seen before. 

Incorporate the formalities, but don’t overdo it

Your product launch is no free event, you are there to introduce your new offering and should have the appropriate speakers in place to deliver such an occasion. It might also be an idea to have an MC to smooth the event transitions and keep the mood light and fun. Concisely convey the impact, purpose and future of this product, but don’t overdo it as your speech will have the opposite effect on the audience and will not motivate any inspiration. 

 

If you are still feeling unsure about the next steps and how to execute the perfect product launch, enlist your leadership team so that everyone can weigh in on what is critical and what is not. By sharing this responsibility you will be able to achieve more, and your stakeholders will be able to impart their opinion on this huge event.

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