Product launch is very important for a business. Some businesses try to make it a big event, and some businesses launch the product through a private event. So, as a business owner, what is your strategy to launch your product? Do you make it big or a private event? What steps should be taken during the product development process to ensure a successful launch?
How to launch a product successfully?
- Thread starter nomad
- Start date
I had worked for a software company offering CAD/CAM software for fashion designers. When we had a new version coming out, we would organize a conference in a hotel inviting fashion designers to attend. During the conference, new features of the product were introduced. Customers were welcome to offer their feedback.
It depends on the nature of the product. If it is a major lifestyle or pattern altering product, you should create a big event for it. But make sure you always build hype for your products. It is easy to hype up your products before launch with socal media and influencer marketing.
Being able to launch your product successfully is dependent on the financial capacity that you have because there are some people that cannot be able to finance a big event when they want to launch a new product which is why they will simply launch it online through advertisement.
Usually multinational companies before launching their new product will distribute samples for free, then conduct marketing research on the new product. If there is a lot of demand, the company will produce in large quantities and distribute it.
That is called prototype testing and it is part of the pre launch operations.
One can decide to organize a press conference and launch his product with the assurance that the mass media would carry it.
If the product is the first of its kind or the company is just starting up, I think the even should be a large one so as to attract different people as much people will not be reached out to if the event is of a smaller one.
The best strategy would be to make a very big event that will draw the public attention, make publicity, invest in advertising the product even before it's launch date, as that would help send the right signal to the mind of potential customers/clients.
Since you need attention so that the new product can sell well, you should make the launch a public event. This is where all potential customers and stakeholders are all invited to attend the launch.
The keyword in trying to launch a new product is buzz. Make sure you build a large buzz around the product and there are cost effective ways to do that. You could organize a float to create a buzz round your product.
You need to determine which method that would be most appealing to launch your products based on the kind of products. Some products require a special event to get it launched.
