If you’re launching a new product, the last thing you want is for it to slip under the radar with barely a ripple. This opinion is no doubt shared by the British businesses who currently spend around a whopping £40bn-a-year on marketing — an eye-watering figure that rises year-on-year. And yet, with 95% of new products released each year struggling to make an impression, launching a new line or service is far from a guaranteed win.
If you want to tilt these odds in your favour, there are a few crucial steps you could take. For starters, you’ll need to generate a buzz, work with the right people and walk a mile in your customers’ shoes. Thankfully, our priceless product launch best practices could make sure that your next release is more iPhone than Google Glass.
Product Launch Best Practices
Product launch best practices touch upon strategic planning, flawless execution, and often innovative forms of promotion. Starting by knowing your product inside and out, you’ll also need to be organised and open to feedback to generate pre-launch excitement. By following these practices, businesses can boost brand visibility and drive engagement ahead of their new release.
Whether you’re an established name or budding startup, launching a new product or service is an exciting time. But how do you succeed in a competitive market? Our 8 product launch best practices contain everything you need to give yourself a better shot at success:
1 – Create a Product Launch Checklist
The perfect product launch is the culmination of months — or even years — of careful planning. Before launch you’ll need to know who your new merch is targeted at, how it will be promoted, the release timeline, and more. You can avoid overlooking something crucial by creating a handy product launch checklist.
The fundamental steps in this are:
- Know your audience/customer/USP
- Decide a timeline and release date
- Know how you’ll measure success
- Find a venue for the release event
- Think about how your branding will appear on promo materials
- Find ways to do something fresh and stand out from the crowd
- Establish contingency plans
The earlier you can find solutions to these steps the better. And bear in mind that event management companies specialise in staging product launch events. Their expertise with brand launch services could prove invaluable in ensuring that everything comes together as planned, on time and within budget.
2 – Know Your Product
Regardless of the scale of your business — or the industry it belongs to — your new commodity will need to scratch a unique itch. What does it do for your customers that another brand can’t achieve? Is this a bold step into new territory, or a refinement of what’s gone before? Are you reaching out to a new demographic or staying in a familiar lane?
This might sound like one of the more obvious product launch best practices but it’s massively important. If you can’t answer these questions, it will make later decisions about brand launch services like event design, and choosing a venue difficult to answer. The ambiguity might even overshadow your excitement about the launch. And if you aren’t feeling it, the chances are customers won’t either.
3 – Work With Influencers
While we’re talking about excitement, even the most novel new products need to generate a buzz before they hit the market. Ahead of the live event that heralds launch day, you should do everything possible to stand out from the competition. Influencers, websites, and publications are key to this, as they can bring your amazing new idea to the attention of their loyal online communities. This could mean that your product is already known to millions before it becomes available.
4 – Favour Freebies
Whether it’s a complimentary eBook or a can of fizzy drink, people rarely turn down a freebie. Therefore, as part of your brand launch services, you should seriously consider handing out free samples. Not only could this help you to generate some goodwill and publicity, it’s also a great way to snare contact details — and valuable future leads.
5 – Start a Hype Train
Generating hype is one of the most important product launch best practices. If you’re concerned that your budget won’t stretch to anything too ambitious, don’t worry. You don’t need to break the internet, or project an image onto Big Ben to get noticed. Little touches like a countdown clock, or ‘coming soon’ graphic on your website can be both inexpensive and extremely effective.
Whether you use email, social media, or a combination of channels, being seen is the main objective when it comes to brand launch services.
6 – Live Stream
Once you’ve taken customer interest from a gentle simmer to a rolling boil, they’ll be desperate to see the new product up close. For some event planners, this will arrive in the form of a full-on live spectacle. For others, you can save money on a swanky venue by hosting a virtual reveal.
This is your chance to showcase the very best aspects of your new merchandise. You can run through the key features, the amazing benefits and answer any questions that your viewers might have. A live stream is one of the most useful product launch best practices, as it puts you face-to-face with customers, giving you an early temperature check.
7 – Ask for Feedback
It might be cliche at this point but feedback really is a gift. Ideally you should pay close attention to your customer’s opinions before, during, and after the big reveal. A potential goldmine of insights could await by tapping into everything from social media to online surveys. As a result, you should have eyes on every possible channel, as the opinions you receive could be used to tweak both your existing and future offerings.
Future brand launch services can be improved much more easily if you know which elements worked better than others.
8 – Think About the Whole Experience
It’s been estimated that over a million corporate events take place every year. With so much competition, how will you tower above the rest of this crowded field? As is often the case in event management, the answer lies in three Ps: Preparation, preparation, preparation.
One of our favourite product launch best practices involves stepping into your audience’s shoes for a little while. Try thinking about what they see from the moment the product launch begins. Assuming it’s taking place in a physical location, rather than virtually, how do you want them to feel when they see the venue? Do you want your amazing new gadget to be preceded by flashing lights and impressive graphics? If you’re selling upmarket clothes, does the atmosphere closely resemble a chic Parisian catwalk?
The better you can visualise the experience, the easier it gets to make decisions. And you can apply the same rationale for first impressions to everything from props to entertainment. Ultimately, everything should align with your brand and the overall theme of your spanking new product.
Hit the Ground Running With ConnectIn Events
A huge amount of time and effort goes into the launch of a new product. From finding a venue to arranging catering, there are a host of vital tasks that need to be completed quickly and efficiently. If you’re preparing to break into a new market, success is much more likely when you have an experienced event manager by your side.
When you work with the specialists at ConnectIn Events, you join forces with an ally who shares your passion for success. Our reputation for event excellence has resulted in the likes of The Ivy and Club L London making the most of our highly-regarded brand launch services. Over time, we’ve helped clients of various scales and sectors, wowing them all with our attention to detail and boundless creativity.
Whether it’s an interactive pop up shop or lively launch party, we always know the best ways to achieve lift off. Virtual, hybrid, or live — we’ve got the skills to boost your brand and amaze your audience.
Get in touch with our friendly team today to take your first big step towards success.
