For many companies, launching products is often quite a task. Many worries surround a product launch; if the public embraces it, will the product generate revenue and get a market?
One effective way of bringing a new product to the market is by organizing an event through which you’ll introduce it. When organizing such events, many things could go wrong if you don’t plan well. In order to plan a successful event, I’d recommend hiring an event agency planner.
How will you ensure everything goes according to plan? This article will help answer this question; read on and do the following:
1. Create A Budget
A budget is an essential thing to have when organizing any event. It’ll help you utilize your financial resources appropriately without overspending and underspending. Overspending can make you run into debt, which is undesirable for any company. On the other hand, with underspending, there’s a likelihood of compromising quality, which isn’t the best way to leave an impression on the event’s attendees.
For an effective budget, lay down the aspects of the event that need funding. These aspects are entertainment, food and drinks, decorations, and the venue for your event. You might need to hire a Disk Jockey (DJ), a band, and music systems for entertainment. Your target audience should be your guiding principle regarding food and drinks. If they’re multi-cultured, have different delicacies, and have a variety of drinks from soft drinks to cocktails. The aim is to accommodate everybody and make them feel at home with your brand.
The type of decoration you choose depends on the location and time of your event. For an indoor event happening at night, it’s best to invest in good lighting to brighten the place. If during the day, bring in as much natural light as possible. If you plan on holding the event outdoors, put up sitting tents and gazebos where you’ll showcase the new products. Consider gazebo printing, where you’ll print your brand name, the new product theme, etc., on its body.
Once you’ve prepared your list, allocate finances to each activity. It’d also help allocate higher percentages to the most important aspects and decrease to the least prioritized. Allocating your budget based on priority ensures you don’t compromise on the most vital aspects that hold the event together.
2. Advertise, Advertise, Advertise
It’s one thing to have everything in place and another to lack attendees for your product launch. The two go hand in hand. When you launch a new product, you want it to gain traction, which increases the possibility of the product having a market. How then will you ensure to get many attendees? It’s simple; advertise and market it.
Today, you don’t have to spend a lot of money advertising your product. Consider adopting digital tools, such as social media and other internet solutions. You’re likely to reach a bigger audience than by adopting traditional techniques, such as trade shows.
On social media, make your advertisement as interesting as possible. Use the right graphics, and consider creating videos of the new product. Here’s where you come up with the right theme for your product. It should be simple, interesting, and resonate with your target audience. In addition, ensure it speaks about aspects of the product. However, it’d help not to reveal too much before the event. You want to keep the audience as interested as possible until it’s out in the market.
3. Plan The Sequence Of Events
This adage applies to event planning: failing to plan is planning to fail. Ensure you don’t fall into the trap by writing down the sequence of events.
The list should be exhaustive, from when guests start arriving to when you close the launch. It’s advisable to allocate time frames to each activity for effective time management. The importance of having a sequence of events is to ensure order during the event. You don’t want to keep your guests waiting as you ponder what to do next or who should be next on stage. Some guests won’t take that kindly, and you might gain bad publicity, which isn’t what you want, especially when launching a product.
Your plan shouldn’t end with having the list down and allocating timelines. Inform those who’ll be in charge of the various activities of the same. Preferably send them a copy of the list. Those in charge are the Master of Ceremony (MC) and the speakers. With prior information, they’ll prepare adequately before the big day to avoid hiccups and confusion during the event.
As you can see, planning for the launch of your product isn’t as difficult as you might have expected. The process is easier and more seamless with the proper guidance like this article gives.
Consider adopting the tips discussed herein, and you’ll successfully organize your event and launch your product. Be sure to use your target audience as your guiding tool should you get stuck along the way.