Product Launch Event Examples
Your new product is a big deal, perhaps the biggest deal. It deserves an equally impressive product launch party. Here are some of the best product launch ideas.
According to 2019 Harvard Business School research, more than 30,000 new products are launched every year. That’s the exciting part. The less-than-exciting part: 95% of those new products fail.
Strangely, this stat does not align with consumer preferences, who tend to be intrigued by new, innovative products. So, what is the primary reason for this 95% failure rate? Poor marketing.
What are product launch events?
New product events are the first salvo of your marketing efforts, so you can build buzz and drive sales. They are a way to introduce your innovative new product to media members, industry professionals, VIPs, insiders, and subject matter experts and let them take it for a test drive.
The goals of a product launch party include:
- Building product awareness.
- Reaching your target audience.
- Engaging new customers.
- Increasing revenue.
What is the best day of the week to launch a product?
According to research, the second workday is the best day to launch a product and reach out to the media. Mondays are too busy as everyone tries to catch up on emails and any work that piled up over the weekend (or was left over from Friday afternoon). A Monday product launch will likely get lost in the hustle and bustle of the day.
Trying to launch a product on Wednesday and Thursday does not provide sufficient follow-up time. By the time the following Monday rolls around, the cycle begins again, and your product may lose momentum from your launch. Also, do not bother trying to get anyone’s attention from Friday through Sunday.
However, on Tuesday, everyone is still focused on the workweek, and they are ready to tackle new projects, having cleaned up the leftovers on Monday. Plus, you have Wednesday through Friday to follow up with attendees and make sure the media mentions your creation in “new product releases this week” columns.
Creative product launch event ideas
Know your target audience
Before you can invite a single person to your product launch event, you need to know exactly who the product is for, how it solves their needs, and how to reach them. The best way to develop buzz about your product is to promote how it solves the problems of your target audience.
Find the perfect venue
Here are a few considerations when searching for the right product launch party location:
- Capacity. How many people do you need the venue to hold? Clearly, if your estimated attendance is 3,000 people and your site has a maximum capacity of 1,500, that will not work. However, you should also know the regulatory matters around capacity maximums, such as fire and safety codes, etc.
- Layout. The venue’s layout can significantly affect foot traffic. When searching for a venue, ask for a floor plan to review. Then, when you have only a few contenders, hit the road to conduct an in-person walkthrough.
- Features. Do you need a lot of seats, audio-visual equipment, food service, etc.? Always check to make sure the venue can accommodate your needs.
- Parking. Only some venues have dedicated parking lots. Without enough parking spaces, you may need to find other accommodations (such as remote shuttle services) for people who drive to your event.
Tell a story
The theme you select for the product launch party should relate to your product and speak to your audience. It’s another reason why finding the perfect location is so important. Your venue is not only a building to house the event but also your canvas to transform into your story. The right venue is one of the best ways to get your creative juices flowing and come up with some product launch party ideas.
After finalizing your theme, reach out to your target audience on social media to continuously build anticipation as the event nears. Create a hashtag and use it in all communication about your product launch event. Make sure that everyone in your company is aware of the hashtag and uses it, too. Your marketing efforts are diluted every time a different hashtag is used or (horrified gasp) one is not used at all.
Provide a hands-on experience
Create opportunities to give attendees a chance to try out your new product. Research has found that 69% of consumers believe that live product demonstrations best assist them in making a purchase decision.
However, there are products where a hands-on demonstration is not feasible, such as unwieldy or large products that can’t fit in the venue or a regulated product, like a pharmaceutical. In these instances, try to get creative. Perhaps you could create a virtual reality presentation that can substitute for a hands-on demo.
Product launch event examples
Fashion brand Moschino typically launches its new products with a runway show before a packed crowd. However, this was impossible in 2020 due to COVID-19 restrictions. So, Moschino’s creative director hired Jim Henson’s Creature Shop to recreate a fashion show (and their entire new collection) using marionettes.
How can you use innovation and creativity to surprise and delight your audience?
Apple always promotes its events but only provides hints regarding the events’ substance. Sure, there are leaks (which aren’t always correct) and plenty of speculation, but that only adds to the suspense and anticipation leading to the event.
What can you do to build anticipation for your product launch party?
Attendees notice when you appreciate them. It is why personalization is essential at product launch events. For example, at a recent conference, the software company Namely provided every attendee with a customized nameplate created by a boutique design firm.
What can you do to let your attendees (and customers) know how much you value them?
We hope you found plenty of inspiration from these new product launch ideas. We also hope you realize that, as you look for a party venue, you’ve already found the perfect location for product launch events at DFW Celebrations. Our Dallas corporate event venue includes:
- A spacious prep kitchen with convenient pass-through windows.
- A bar with a commercial ice maker.
- Plenty of free parking.
- A projector and a giant video screen.
- Two charming fountains for selfies and professional photos.
- A large entertainment stage for a DJ, band, or panel discussion.
- Microphones and clear, balanced speakers.
- A large corner stage to highlight an honoree or special guest.
- Hologram and slide show projectors.
- A GOBO projector.
- Several large restrooms with modern décor.
- Private dressing rooms to use as green rooms for speakers and special guests.
- Security personnel and security cameras.
- Numerous nearby name-brand hotels.
To schedule a tour of our venue, please get in touch with us here.