How to Run a Virtual Product Launch Event

2020 taught us a lot about the power of the internet. That was the year nearly 90% of product marketers had to cancel their in-person events. Companies launching new products during this timeframe were forced to skip onsite tradeshows, in-person meetings, conventions, and other public events. Instead, they figured out that a virtual product launch event allowed them to connect to an even broader audience for a fraction of the cost of an in-person event.

Social media and video conferencing became the hottest launch pads for products at a time when people were stuck at home and hungry for something new. Companies that shifted their focus to virtual launch events learned a lot. What can we learn from these events? What best practices can we apply? We have answers to help you with your next virtual product launch event.

What is a Virtual Product Launch Event?

A product launch takes a new product and pushes it into the market with a great deal of fanfare. These events create hype around the product and typically drive sales for the item. You may remember some of these impressive product launch event examples, including:

• In 2007, the original Apple iPhone sold one million units within 74 days of its launch.
• In 2010, Instagram launched, and impressively raked in 25,000 users in a day. Of course, today, they have more than a billion average monthly users, but who’s counting?
• Also in 2010, Apple launched the iPad and sold almost 7.5 million devices that year alone.
• In 2006, Nintendo’s Wii became one of the best-selling gaming consoles ever made. Since its release, it’s sold more than 100 million units.

All of these product launches had one big thing in common: they happened live in a physical venue. A virtual product launch is just like an in-person event, except it’s online. Today, the biggest brands on the planet are launching their products virtually, including Apple, Canon, Ford, and Harley-Davidson—to name a few.

If you’re considering a product launch event for next year, we have some tips to help you pull it off.

Three Important Considerations for Launching Your Virtual Launch Event

There are typically three steps for launching your virtual product event. Skimping on one of these can spell disaster for your team, your product, and your company, so pay attention to:

1. The Prelaunch
   Creating a social media frenzy around a “save the date event,” and then posting a countdown to that date creates real excitement about your virtual product launch. This process should repeatedly share details relevant to the launch like the date and time and a link to sign up to add the event to their calendar and get reminders.
2. The Buzz
   The trick is to cut through the noise on social media to create action—and that action is to get as many people as possible to your event. Think about how you can get your brand to stand out to current customers and potential new ones as you build toward the virtual product launch date. This should be an interactive process focusing intently on social media interactions to create buzz before the launch. Think of it as chumming for sharks; your marketing efforts are the chum, and, in this case, you definitely want a feeding frenzy to happen.
3. Post-Launch
   You thought we were going to talk about the launch as number three, didn’t you? Instead, the third step to ensure your success should be the work you put into working the audience after the launch. Don’t take time to pat yourself on the back and rest after the product launch event. Instead, companies that have the best product launches don’t rest on their laurels and instead vigorously increase their promotions after the launch. This will push more sales for longer as you follow up with virtual product launch attendees and keep the buzz going long after the product is on the market.

Best Practices for a Successful Product Launch Event

The number one thing you can do to ensure the success of your virtual launch event is to choose an online product launch event platform that is right for your company and your product.

Like any good product launch from a live stage, having the best venue for your virtual event requires a great video conferencing provider. Commercial providers like Zoom are too generic; you need a telecommunications platform with a complete technology portfolio to provide your customers with the immersive experience they crave. Look for a product launch platform that is:

• Interactive
  Look for software that allows your audience to use its features to chat or message other participants. The platform should allow for interactive polls and whiteboarding as well as other options to keep your audience engaged.
• Accessible
  Make sure you can record the live virtual event so that it’s available post-launch and on-demand. This will extend the excitement about the launch long after it’s over.
• Flexible
  Make sure the virtual product launch software can adapt to different browsers, handle unexpected audience capacity, and has no limitations on scaling that will stop your event from going viral.
• Visible
  Find out if the platform allows you to brand registration pages and supporting marketing pieces. The best video conferencing solutions offer white labeling so you can brand the software as your own. Having the entire event, from pre- to post-marketing branded only to you, with no distractions from the video conferencing vendor’s brand, will only add to your credibility and presence. Look for seamless visibility throughout your event and beyond.

Onstream Media is interactive, accessible, flexible, and visible. We are trusted by some of the biggest brands in the country, from Honda and the IRS to Stanford University and the American Hospital Association. These reputable brands trust us to not only securely broadcast their message but to give them the features they need to stand out in the best possible way. Find out how Onstream Media can help you cut through the digital noise with the perfect online product launch event. Contact us to explore the possibilities.