Virtual product Launch Is Crucial To Your Business. Learn Why

 Product launches have always been an important business strategy. It provides leverage to ROIs and increases awareness about the new product. But the pandemic challenged the marketing world and put a pause on these events. According to the event marketer website,  87% of marketers had either cancelled or postponed their marketing events including product launches due to the ongoing pandemic.

As they say, there is always a silver lining behind the clouds, marketers also looked for new and innovative platforms to launch their products. Marketing teams shifted their in-person product launches to virtual venues. There has been a marked increase for companies and businesses to launch their products through virtual events. It can be achieved through simulated live or virtual product launch on the web. The idea is the same - to create a buzz around the new product. A digital platform of this kind offers opportunities to showcase new launches with ease and perfection.

 

The question then arises whether virtual product launches are indeed pivotal for your business to flourish. And the answer is yes! Read on and know, how the launch of your new product on a virtual platform is a successful strategy for your business to thrive.

 

1)  Virtual Product launches are very cost-effective. In-person events rely on bookings related to venue, travel, accommodation, staff, food, and other related expenditures.  Instead, managing the product launch through a virtual platform proves economical for the business. Apart from the registration fee, extra costs get eliminated. It gives you the freedom to limit your expenses to virtual product launch only and thus proves beneficial in the long run.

 

2)  The ultimate goal of any product launch is more visibility to the audiences. The organization of a product launch through an online portal aims for greater reach and visibility. In-person events have limited audience reach and depend on invites and travel. Digital product launch gives ease of access to a large number of invitees. Geographical barriers do not hamper the visibility of the launch and, visitors from around the globe attend without any constraint. Expansive brand visibility offers more business success.

 

3)  Virtual Product launches evade the hassles of tireless waiting. Any interested party can engage with brands directly. According to Dreamcast, Virtual product launches offer “70% better engagements” compared to in-person launches. Since the launch is managed online in its entirety, it provides wider reach and accessibility.

 

4)  As with every online virtual event, the launch of products through an online platform allows for greater engagement. With more improvements in the interface, attendees can engage through chat, messages, Q&A sessions, surveys, and live polls. Additional options to access parts of the presentation with ease of a click also aid in engagement. These choices help to gain insight into the brand new product.

 

5)  Active participation and better engagement are principal parameters to judge revenues for any business. As we have seen, virtual product launches are successful in revenue generation. They greatly improvise the ROI at a substantial level than in-person events.

 

6) Virtual product launch events render superior analytics. Attendance of the events is a prime analytics parameter for a successful product launch campaign. Since everything happens online, it becomes easier to measure the attendance and related activities of the participants. Digital print left by the attendees is effortless to track. Analytics reads the data related to their registration, attendance, interactions, likes, comments, and the number of video downloads. Performance analytics thus offers a better understanding and response to the success of these launches. 

 

7)  In-person and Live product launches are one-time events. The virtual product launch event allows the event video documentation during its relay.  The program becomes accessible even after its launch. Its content is recorded and can be easily accessed. People who are unable to attend the event can watch it later with convenience. If any attendee wants to watch the content again, a recorded live event offers that leeway. It can even be shared at ease and thus helps its dissemination long after the actual launch day.

 

8) In this time of increasing climate change, we cannot evade environmental issues. Every event needs to make sure that it is less invasive and threatening to the environment. In-person product launch requires larger areas and  burden the environment with excess waste and pollution. These types of launches can mitigate the risk to a certain extent only. In comparison, virtual product launch platforms are one step ahead. These launches are environment-friendly with minimal product waste. There is lesser to no risk of pollution to the surrounding environment. Thus, product launch virtually is environmentally more viable.

 

Since a product launch at an online platform brings the best outcome for your business, wouldn't it be essential to transfer the inconvenience to the service that makes the launch a seamless event?  It is Prinknest LLP that will come to the rescue and let you choose the best platform for your Virtual Product launch.

 

At Prinknest, we have several years of experience to manage and deliver  your product Launch events seamlessly. Our expert team is well versed in bringing new product launch ideas before you to make your event a digital. The team makes sure your event relays with coherence and in a perfect manner. The use of advanced technologies helps to outshine your product among your competitors.