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6 Tips on How to Host a Successful Product Launch

19th June 2013
Large-scale projection advertising | Senate House

Product launches provide businesses with the perfect opportunity to gain exposure and influence their target market to buy into their brand. In order to execute a product launch, businesses need to follow these 6 tips to ensure sweet success.

 

Product Launches at Senate House 

1.       Understand how the product or service will benefit the target market

A product launch cannot be successful unless a business has a clear vision of how their product or service can benefit their target market. A product or service is used to alleviate a customer’s frustration; therefore a business needs to know how they are solving their customer’s problems.  A product launch needs to encourage the target market to buy into the brand’s solution.

2.       Tactical Messaging

A successful product launch needs to have direct and clear messaging in order to avoid any confusion. If a customer sees and understands the product or service clearly, they will be more likely to buy into the brand.

Businesses need to have a secure messaging model which identifies the businesses’ product or service capabilities and match these with the target market’s needs.

Messaging needs to communicate with the target market effectively, demonstrating the value of the product or service, encouraging them to buy into the brand.

Find out more about large scale projection. Nothing projects a brand clearer.

3.       Identify the end goal

A business needs to know what they want to achieve from a product launch before they step inside the venue. By identifying an end goal, it will allow a business to establish their launch tactics. Businesses with clear goals produce focused strategies, resulting in better leads.

4.       The power of influence

Influence is the application of power to accomplish a specific purpose and a product launch is the perfect opportunity to achieve this. The power of influence can gain vital exposure, build relationships with audiences quicker and generate revenue faster.

During a product launch, there needs to be a clear message communicated to the target market, for example: ‘This is why you should buy into us.’ This can be delivered through influential tactics during the product launch from associations a business can reach out to including the press, investors and partners, even industry analysts.

Create an army of powerful influencers, with the aim to convert sceptics into believers and interest into sales.  

5.       Build Excitement

There needs to be some sort of ‘buzz’ surrounding a product or service in order for it to be a success. An inspiring and creative product launch is the ideal opportunity to build excitement and create a demand for a product or service. This can be developed in numerous ways no matter how big or small a budget is.

Utilise every team member whether they’re in the sales team or a member of customer support. Get people talking about the brand and a flurry of interest will soon follow. Creating a buzz before the product launch is a winning tactic, as those attending will already be interested in the product or service, therefore the product launch acts as the last stage in converting the individuals into customers.

6.       Timing

Timing is important in business and getting it wrong can be dangerous. Product launches can be planned tactically, for example a launch can be planned at a specific time or location in order to maximise influence. 

Perfect timing for a product launch will have your target market waiting in anticipation, the media wanting to know all about your product or service and your partners desperate to get selling.

Event Venues in London

While comunication and tactical strategies are important in achieving a successful product launch, the venue is as equally as important. A venue must complement the product or service and provide a high calibre of facilities and services to create a lasting-impression.

Senate House has a variety of first-rate conference and meeting spaces, accommodating both small and large occasions. The venue has become popular for product launches, exhibitions and fashion shows, including London Fashion Week.

Senate House has a variety of 21st audiovisual equipment to enhance presentational presence. From flawless broadband to high-definition plasma screens, there is something to suit every occasion.

Find out more about our unique venues in London and find suitable space for product your launch. 

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