Strategies for a Successful Virtual Product Launch

Post by 
Karen Ashwin
Published 
July 15, 2020

Product launches can be undertaken in a variety of different ways, but one of the most innovative is a virtual product launch. Why? Because you can reach more people and show many different elements without having to necessarily use the product. For example, let’s say your product is a spaceship, you aren’t just going to send it into space. Using a virtual product launch, you can capitalize on technology to make simulations that demonstrate the product in the most effective way.

You want to deliver your product in new and exciting ways to meet the needs of your market they may not even know they had prior to your virtual product launch. The core component of this type of launch? That’s easy — technology! Take advantage of existing technology, create a virtual product launch, and watch your company become more successful.

Here are some of the top strategies for a successful virtual product launch:

Capitalize on the Opportunity to Reach a Wider Audience

Here’s the first reason you should engage in a virtual product launch: to reach a wider market. This could lead to more sales. By increasing your market reach using a virtual product launch, even if the attendee doesn’t purchase the product, there’s a greater opportunity for word-of-mouth advertising. This is one of the most beneficial types of marketing available. It doesn’t cost you anything beyond reaching (and delighting) even one attendee. If they tell five people, that’s five people you don’t have to try to convince yourself. Word-of-mouth advertising is amazingly powerful and can make or break the success of a product. So, increase the opportunities for this powerful tool to occur and you could see your sales increase.

Word-of-mouth advertising is important in all types of product launches because it can help show if your product is going to succeed or fail based on the interest generated. Therefore, you want a diverse audience because of the range of customers it contains, which will potentially increase the success of this type of marketing. Word-of-mouth marketinguse it, believe in it, and take advantage of it.

Embrace Simulation Opportunities

With incredible technology comes an array of tools that you can leverage during your virtual product launch. One example is the use of green screen technology in online events to create exciting virtual environments. Another great example is being able to utilize amazing and innovative, yet, realistic simulations of how your product works. This is your chance to show your market what your company’s invention can do when pushed to the limits. It may also give you new ideas on how to improve future versions of it. You could even get insight into new products that you can market to this audience that would meet their needs in an effective way.

Encourage Audience Input

Another way the virtual product launch is beneficial is that it gives you the ability to have the audience interact with the presenter during the launch. If the simulation is created on-site, the speaker can get ideas from the audience. Not only does this help show the audience how the product works, but it also allows you to discover how your audience is thinking about using your product. This helps to create a successful product launch, and might even give you ideas for other products or how to improve the product being promoted.

Audience input is important in virtual product launches because it helps you see what is needed by your market and how you can best meet that need. Knowing what your market wants is critical for success. In other words, this will help you better understand your company’s four Ps to better position your product in the future. When you are working with the four Ps in mind, you’ll be able to develop a stronger market base and increase the likelihood of repeat buyers for your company. This is why the audience interaction is so important — take advantage of opportunities for audience input — it lets you know what your audience likes, what it doesn’t like, what it needs, and what it wants. With this information, you can win the entire market and become a major player within it, if you aren’t already.

Delight Attendees with Innovative Tech

Probably the most important benefit of using a virtual product launch is the opportunity to take advantage of available technology. In some cases, this is known as ‘disruptive technology’. This type of technology involves using existing tech in new ways. In the context of creating a successful virtual product launch, disruptive technology is beneficial because it will assist you in bringing comprehensive options to your market with your new product. To this end, you can capitalize on opportunities to advance your product even further.

Disruptive technology is a critical component of successful competition in today’s market. You need to be able to take advantage of technological advancements in order to meet the needs of your customers by using tech in new and innovative ways. For example, you could send out branded Google Cardboards and let your event attendees experience your product in virtual reality (VR), or your entire event could even take place in VR. There are so many opportunities out there to make innovative and new technology work for your business.

Key Takeaways

Here’s a summary of what you need to know about a virtual product launch:

  • Virtual product launches can be used to reach a wider market.
  • You are able to take advantage of available technology to create amazing, yet realistic, simulations of your product.
  • You can generate excitement by incorporating audience input into your virtual product launch.

A successful virtual product launch means that you’ve used technology to reach your audience. Take advantage of the opportunities you have during your virtual product launch to amaze your audience with how your product might just be exactly what they need.

Virtual product launches are beneficial for increasing your customer base and, possibly, your sales. Did you enjoy this article? If so, download our new ebook: Your Guide to Generating Brand Awareness Through Virtual Events. If you’re ready to move to the next step, book a consultation or contact us for more information.

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