For any new product to succeed in the market, it must be preceded by a powerful product launch. As a matter of fact, most successful business people will tell you that, of the entire product development process, product launching is the one that can make or break the whole process. This explains why such business gurus dedicate a whole team of marketing professionals to the launch, ensure that the team is sufficiently funded and appropriately plan for every little detail.
But even with the obvious importance of product launch marketing, more than 60 percent of businesses today aren’t putting the right emphasis on their product launching strategies. It is very unfortunate that even after investing millions of dollars on product development, entrepreneurs can still afford to mess things up at the most critical stage. To make matters worse, most of those who invest time and resources such as hiring a reputable event production agency, to product launching, do it as an afterthought, so the job is shoddy or businesses end up wasting their resources on things that don’t really matter.
With the right product launch marketing techniques, your company stands to reap these among other benefits:
1. Improved Reputation
The entire product development process is anchored on the idea that a certain product will fill a gap in the market. You probably developed the product idea from your consumers’ feedback or general user comments online, so you designed and packaged it in the way that a ready, hungry market recommended. Launching the product and injecting all the necessary pomp and color into the launch— probably even displaying the feedback messages that motivated you to launch the project— will earn you great admiration from your prospective market. This is the best platform to show the customer base how much you value their opinion. This trust and admiration will give you a strong reputation within your niche.
2. Grabbing Consumer Attention
If people haven’t seen or heard about your product, you can bet that they will be skeptical about it, even when they see it on the shelves. “A powerful product launch makes not only the new product visible to the people but also the company and its other products. This is a perfect chance to tell your company history and share with the prospective customers what your brand stands for. So, even if they will not buy the product you are launching, they might end up liking another one of your products.“ say experts of Tactica.
If you can find a way of including a link to your website in the launch ads, you can be sure that your website will get new visitors whom you can easily persuade to become loyal customers. What’s more, the more the online traffic your website gets, the higher it ranks on Google, and the more visible it becomes.
3. New Business Leads
Depending on the success of your launch, there are investors who will gain interest in your business. Some will be impressed by how that product takes off after the launch and for that, they offer to buy a part of your business. Others will be impressed by how you managed to rally followership of loyal customers and because they want to tap into your talents, they offer you some lucrative partnership deals. There are also big companies in your niche who will offer you tons of money to acquire your company and offer you an executive role in it. You never know who is watching.
4. More Revenue
This goes without saying: The more customers, the more business partnerships and the more business visibility, the higher your revenue will be. As a matter of fact, products that hold successful product launches often recover their money faster than those who ignore it altogether. We are talking about all the incurred losses right from design stages to product development and to the final marketing stages.
Make sure to put together the ideal event for launching your product into the target market. Don’t fret, you can always higher an event production agency to do all the heavy lifting for you. Such agencies help companies tell their stories and gain the attention of the people who matter in order to increase brand awareness and revenue collection.