After the unwelcoming circumstances of nationwide pandemic, business found extreme ways to survive in the tough times. This year the world has seen some major transmutation but despite that, we have come out of this vivaciously and into ‘the new normal’. Today, event planners, exhibitors, brand managers have chosen virtual hybrid event platforms to showcase their latest product innovations to wider audiences.
As we continue fighting our battle amidst novel coronavirus, some brands have gone ahead with their product launches and the results are unarguably impressive. Fortunately, things are slowly normalising and people have started heading out to attend events and as more lockdown restrictions ease, it’s time to consider new tactics about how you can launch your latest products and services to the world.
What is a hybrid product launch?
A hybrid product launch to put simply, is an event incorporating virtual as well as live physical elements. It enables brands to showcase their new products in the market. A successful product launch begins well before the final launch date, and the consequences will last for years. It will create excitement, facilitate an initial influx of revenue, and establish traction that a business will then build on.
In the next section, we have listed top 11 proven product launch ideas that will help you take your offerings to the next level! Read on to know more!
- PAY ATTENTION TO YOUR ATTENDEES MORE THAN YOUR PRODUCT
Launching a whole new product can rejuvenate excitement but do not over-exaggerate your innovations in order to gain more popularity. Your product cannot reach out in the market instantly. Consider an accentuation spot that can influence and curate profits for the crowd.
For example, if you have sent out an item that makes it easier to do a basic task, you can first discuss the challenges that will be faced in completing the task. You can even discuss how using your product can help reduce the workload. If there is a feature that distinguishes you from competing goods, you can emphasise that, as well as how that feature will be applied in the consumers’ daily lives.
- RESEARCH YOUR POTENTIAL COMPETITOR
It’s time to look at your rivals so that you know who your future clients are. What is the significance of doing so? Since your rivals are obviously targeting a similar demographic, learning about their app marketing strategies will help you figure out what succeeded and what didn’t.
- LAUNCH A TEASER CAMPAIGN ON SOCIAL MEDIA
The key goal of the new product launch concept is to give as much exposure to the product as possible. One hopes that this can be accomplished at a low rate. Marketing on social media is the most cost-effective choice. Teasers for the product you’re about to deliver are a smart way to get your target audience/customer base excited. Customers would be intrigued if you create a buzz by hinting at surprise elements in your offering. Consistent new updates before the launch will keep the conversation about your product alive within your consumer base. To maintain an orderly and time-saving work environment, you should pre-mediate and vote on your posts ahead of time.
- CREATE VIDEOS
Creating video recordings takes more effort than making text posts with an image, according to statistics. In any case, they have a greater and more significant influence on how the customer perceives your product. As a result, the endeavour is worthwhile. Quick videos that show the product’s core features have become some of the best new product introduction concepts.
Users will not be bored watching long, monotonous informational images, but will instead receive an insightful capsule that will help them learn how to use and profit from the product in their everyday lives. You might also create a whole web series of highly appealing short, viral videos that would last in the minds of your consumers for a long time. Big brands including Apple, Myntra, and Flipkart also use short videos with catchy music in the background that consumers would remember.
- MAKE USE OF INFLUENCER MARKETING.
It’s no longer a mystery that social media influencers play a significant role in steering the consumer for specific brands. In only one message or one story on their social media handles, a limited number of these internet users may affect a large community. Influencer marketing is beneficial to companies attempting to launch a product because it is cost-effective and allows them to enter more audiences more quickly.
Influencers with a large online audience have the necessary domain, scope, and interaction to persuade their followers to purchase your product via blog posts and websites. They will discuss the product’s distinctiveness as well as how they use it themselves. This will cause a stir among their fans. There will be resharing and reposts. There will be re-posting and re-sharing. At the end of the day, this would generate an implicit demand for fans, resulting in a large potential customer market for your product.
- DEVELOP SUSPENSE
Although the human mind is complicated, the best way to pique curiosity is to build a sense of mystery around a subject. The majority of companies have worked out this strategy and use it as part of their creative product launch concepts. When the product is shrouded in mystery, it creates a buzz about it, while making people excited to learn more about it. Providing only the most basic information about the product during its initial launch days would benefit it in the long run.
8) TAKE PRE-ORDERS
In today’s world, it’s popular to accept pre-orders. Any kind of product, from music to perfumes, is now available for pre-order. This is a successful product introduction strategy. As a result of pre-order, new potential customer bases will be aware of the product, thus resulting in increasing your market share.
9) GIVEAWAYS AND CONTESTS
Brands often run giveaways and contests before the launch, that allows them to not just maximize awareness but also secure the involvement of the viewer.
You could send your product to an exclusive group of participants whom you select via a contest, and they can in return spread the word about your product and share their positive reviews. The key aspect of this idea is to ensure its virality by getting the participants to tag their friends and share posts to create a constant loop of promotions.
10) START A COUNTDOWN
Starting a countdown on your digital platforms is another way to build a good sense of anticipation before the launch. This will continue to serve as a polite reminder of the product launch while still steadily increasing excitement for it.
In the near future, a move toward mixed events might be the most plausible progression of product releases. A blended event is one that successfully combines in-person and simulated elements. Hybrid activities enable businesses to reap the rewards of all forms of events. You can restrict numbers and promote social distancing in this format, but not at the expense of your scope, which makes it a fantastic choice before larger physical activities are once again permitted.
Traditional figures may be kept low by restricting ticket supply, but there could be an organic component as well, enabling participants to register online instead. Many people believe that hybrid events are a better choice, and although they do provide some cost savings.
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