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Virtual launch events have gained a lot of popularity recently, but what exactly are they, and how can they be of help to you? Let’s discuss.
A launch event is where a product or a brand is showcased for the first time in front of an audience. To get the idea, think about how Apple reveals their iPhone models, Samsung their flagship Galaxy models, and recently, Tesla their Cybertruck. These were all product launch events where all these companies revealed the products they had been working on for the past months.
Launch events are a crucial part of marketing. They generate hype and awareness, which results in bookings and pre-orders, and even direct sales if products are already available at the event. Journalists attend these events by the masses and share their experiences and reviews which bring attention to the product.
Virtual launch events are only different from the conventional, live launch events in one aspect; they are held virtually. The goals, the method, the audience, are all expected to be the same as they would be if that same event were to be held live. But certain aspects are actually improved upon, which can be a good selling point in favor of virtual events.
A typical virtual product would involve a presenter on a stage, in front of a camera, while most or all of the participants attend that event from their own locations over a medium of their choice such as their phone or laptop. If it’s a hybrid event, some people may be present in the actual location while others attend remotely.
A launch event is supposed to help with brand/product promotion. Reviews, news articles, blogs, and coverage of the event build hype for the general consumers. Launch events can also serve as venues where companies find potential leads and investors.
A virtual launch, with some minor drawbacks, can amplify some of the benefits of a live launch event.
With a virtual launch for your product, you have the chance to get more people to attend the event. A bigger audience will translate to more awareness and promotion. People who couldn’t have attended in-person now have the chance to attend. These people can then either buy your product or talk about it. Thus, making other people aware of it.
A virtual launch can be held at a significantly lower cost than a traditional launch. You will not need to pay for the space, nor will you require a lot of manpower to assist with it. For your audience, since they will not be attending physically, they get to save up on the traveling cost as well as accommodation costs.
Saving up on costs means saving up on energy expenditure, fuel, and other resources. Such eco-friendly events are going to play a part in the future as the world starts to focus on sustainability.
If you use a tool that lets you analyze your virtual event analytics, you can gain valuable insights into audience behavior around your event. Keeping a track of how the audience was involved with the event can help you understand what you may need to change about it.
Say, if a good chunk of your audience left halfway through the session. You can understand it wasn’t really that interesting to them, or it didn’t address their concerns. You can also then reach out to your audience with that knowledge for a better follow-up strategy. Or you can use that information as a foundation for future events.
Virtual launch events cannot capture the experience of a real launch event, especially if there are theatrics involved. While physical products can still be showcased and tested virtually, the audience itself cannot get close enough to get the actual idea of the product. Letting the audience test the product at the event is not possible either.
Internet connectivity issues can make it difficult for the audience to “enjoy” the show. Especially if it’s with a big company and they don’t want to miss out on the highlights of the event. For journalists, this can be frustrating.
This largely depends on your product and niche. If you’re on a small budget, but you have amassed a good enough following, you can totally go for it.
A virtual launch will be more suited for products that can sell well without the potential customer’s need to get hands-on experience with it.
Virtual launch events are great for small businesses, as well. They can focus more on their marketing and brand awareness. Not to mention, these events help gain a large audience with little regard for geography. And eventually offer impressive sales figures.
Virtual launch events provide a lot of benefits for small-scale businesses. Since these businesses cannot afford big venues but would still like to showcase their product/s to a large audience. You will also need reliable virtual event software that can handle virtual events and provide ways for you to interact with your audience in real-time without hassle.
Read more about our Virtual Launch Event solution!
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