Virtual Events

5 Best Practices For A Successful Virtual Product Launch

Team Wiztales
September 27, 2022
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New product launches are one of the most exciting (and challenging) times in any company’s year. They give you a moment to stand out from the crowd and create buzz around your brand, product or service. A virtual product launch will help you achieve all of these objectives while minimizing costs, time and stress. Whether you're launching a new software program, an e-commerce website or a physical product, a virtual product launch can help you stand out from the competition, drive sales and reach more customers all at once. A successful virtual launch will leave your competitors scrambling to catch up with you. Here are some best practices for a successful virtual launch that will help you get the word out while keeping costs down and stress levels low.

Decide on your marketing and advertising strategy before launch

Marketing and advertising will have an exponential impact on your product launch. If you have a strong marketing and advertising strategy in place, you will be able to reach a greater number of customers, increase your chances of converting those customers and reach more potential customers than if you had no strategy at all. Not only will a strong marketing and advertising strategy help you gain more exposure, but it will also help you get your product launch off the ground. Now, you might be asking yourself, “What marketing and advertising strategy is best for a virtual product launch?” That’s a great question. If you’re launching an eCommerce website, you can use paid advertisements on Facebook, Google and other platforms to drive traffic to your site. Another option is to create a fun, attention-getting video and share it on your social media platforms. If you’re launching a new software program or product, you might want to consider email marketing. Email marketing is an incredibly effective way to get the word out about your product.

Start with a soft launch to test the market before committing to your launch date

Before you commit to your launch date, you want to make sure that you’re launching with the right product, correct pricing and marketing materials that are going to convert. This can be a bit of a tricky situation because you want to get the word out about your product and you want to start driving sales but you need to make sure that you’re doing it in a way where you’re still testing and making changes to maximize your results. One way to do this is by starting with a soft launch. A soft launch is essentially a trial run that allows you to test your product and marketing materials without a set date. You can use your soft launch to start generating buzz about your product, get feedback from your customers or potential customers and make any necessary changes before your official launch date.

Build a lead magnet (and mailing list) before the big day

Before you go all in and start promoting your product to the masses, you want to make sure that you have some people to talk to. You don’t want to have an empty website on launch day. You want to have content on your website, a mailing list and customers that are ready to purchase. That’s where lead magnets come into play. A lead magnet is basically anything that your customers can “snatch up” before launch day. It’s usually some type of free resource that is helpful to your target audience, like an e-book, report or webinar. When you have a lead magnet, you have a way to collect emails from interested customers. You can then add those customers to your mailing list and send them updates about your product and the date of your official launch.

Make sure you’re ready for the influx of traffic

The good thing about a virtual product launch is that it’s an event that can be scheduled. You don’t have to worry about finding new customers as they find you. You can actually control the amount of customers you want and the time that they’re going to be visiting your website or purchasing your product. That being said, there will be an influx of new customers that are excited to purchase your product or visit your website. It’s important to make sure that your site is ready to take on the amount of traffic that it’s going to receive. That means making sure that you have an adequate hosting plan. You don’t want your website to go down because you’re not hosting with enough space or a reliable host. It also means making sure that you have enough bandwidth to handle the amount of people who will be visiting your website. You’ll want to make sure that your website is ready for the traffic and that it runs as smoothly as possible.

Use contests and giveaways to drive more awareness and sales

Another way to drum up excitement for your product and drive more sales is by hosting a contest or giveaway. This is particularly effective if you’re selling a physical product because it gives you an opportunity to showcase your product in action. There are a couple of ways that you can go about hosting a contest or giveaway. You can do something like a “share to win” campaign, where customers have to share your product on their social media platforms to enter the contest. You can also have a “comment to win” campaign, where customers have to leave a comment on your website or your Facebook post to enter the giveaway. Another option is to have a “guess the amount of money you’re going to make” type of contest. You can offer a free product or a discount to customers who guess how much money they’re going to make from your product. This will help you get the word out about your product and entice customers to buy your product because they want to win it for free.

Final thoughts

The good news is that virtual product launches aren’t as complicated as they seem. All it takes is a few simple steps to launch your product successfully and get the word out. And while it can be challenging to create a successful product launch, it’s definitely worth it. After all, nothing beats the feeling of knowing that you’ve successfully launched a product. A virtual product launch will help you get there faster, with less stress and less money.

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Team Wiztales
Founded in 2018, Wiztales is the world's fastest-growing Event Tech Platform. We empower organisations by merging the excitement of live events with the panache of the virtual world to create unparalleled event experiences for global audiences. With multiple product lines, Wiz365 a virtual and hybrid platform for organising virtual events, Wizit an In-person DIY Event experience app, and Altyug, an eCommerce and events metaverse, Wiztales aims at empowering organisations to create unparalleled experiences for global audiences. Over the last 3 years, we have helped 150+ brands execute 1000+ virtual events with the viewing participation of around 1 million users. Wiztales emerges as India's Best Virtual Events Platform at Wow Awards Asia 2022
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