Five Keys to a Successful Product Launching Event

A product launching event can be one of the most expensive and time consuming part of any corporate marketing and event planning department. Launching a product too early can create distress and upset with current and potential clients. Launching it too late can underwhelm clients. Here are the keys to making it a wonderful and fulfilling event.

Good Preplanning: Determine the goal(s) of the event. Is it to bring new sales, competitive differentiation, or both? What type of launch makes sense? A soft launch is good for minor product enhancements or a product that has a small target market. A full-fledged launch is for a breakthrough product that will improve your competitive position. Set your budget. A good rule of thumb is the budget should be 5 to 20% of your expected revenue for that product or service. Choose one project manager who will be the focal point for all communications.

Establish the Marketing and Media Campaign: What is your compelling message? Establish your 30-, 60-, and 2 minute elevator speech. What are the benefits of this product and who does it help? When considering a successful product launching event, consider the age, sex, race, religion, and occupation of your audience members. How can you most effectively reach them? What do they read and watch? This is key to the campaign.

Define the Audience and Fill the Room! There is no worse feeling than spending thousands of dollars on an event only to have few attend the event. Identify your "A", "B" and "C" Prospects and Customers. Call and cultivate the "A" list. Make them a priority and give them an incentive to attend. Perhaps a grand prize drawing, dinner at a very expensive restaurant, or the ability to sample the product before the rest of the public. Make them feel special. Continue to send teaser emails out to those confirmed. Have a count down on your website. Be excited and your audience will be too.

Engage the Audience with the "wow" factor: Consider the following interactive technology tool rentals to turn an ordinary event into something memorable: A computer kiosk can be used in the lobby or foyer to give the attendees a "sneak peek" about the launch. PowerPoint presentation equipment, along with sound and light rental, can bring a dynamic feel and style to the event with video, music, and lights. Rent iPads or Tablet PCs for audience members to see the visuals within their own space. Giving your attendees wireless audience response system allows an immediate pulse on what the audience thinks about the new product or service. Lastly, if appropriate, raffle off one of the new products as a grand prize.

Follow up! Follow up! Follow up! Create a plan to contact the attendees and determine if they are going to buy the new product or service and when that might happen. There needs to be a mix of ways to follow up including telephone calls, emails, and face-to-face visits.