Virtual Product Launch: Benefits of Virtual Product Launch Events
2020 made the world change its dynamics, we saw a complete shift of in-person events taking place in a virtually feasible space. Virtual events have become the new trend, given the current circumstances it seems that the virtual events are going to the future of the event industry. The word ‘virtual’ has been prevalent for a very long time but it gained popularity after the sudden unforeseen impact of global pandemic in 2020.
As gathering in public is prohibited and travelling is not a viable option, physical events have come to a stop! Many planned events either got postponed, cancelled or moved in a digital space. In such difficult times, organisations had to come out with a suitable solution and virtual events were their way out. You can host any type of event right from virtual meetings, conferences, AGMs, to virtual fest, fair, product launch and it keeps going. All of them can be hosted on a comprehensive virtual event platform.
To stay afloat, marketers and event planners are turning to the stronger technologies available. Many major brands have held simulated launch activities in recent months, resulting in increased leads and sales. However, this has resulted in increased market growth. Brands like Apple, Johnsons and Johnsons have successfully hosted interactive virtual product launches, some other companies who have attempted the similar have raised the expectations for such events. Online product launches are the way to go to present your products at a global scale. Digital product launch activities have a lot of advantages, from attracting a large number of people around the world to growing sales and earnings.
Virtual product launches triumph over in-person product launches. Organizing a simulated product launch, on the other hand, is advantageous. We’ve outlined some of the advantages of holding a virtual launch event in this article. It will explain why simulated activities are essential for a product launch.
Benefits of Virtual Product Launch Events
#1. Immersive Visibility and Better Reach
undeniably, a virtual product launch expands your versatility and raises your brand’s awareness. Brands that use immersive launch experiences to show off their new exclusive products attract a wide range of people from all around the world. Digital product releases, unlike conventional product launches, are not constrained by geography or space restrictions. Virtual product releases appeal to a large portion of the global population, resulting in increased brand awareness.
More users are willing to attend or partake in virtual product launches. Attendees can access the event from the convenience of their own room or tables thanks to the event format’s simplicity. An event of interactive product launches would not require attendees to fly to an on-site venue. Attendees can pay attention at their leisure with any laptop or browser which can access the internet.
#3. Better Engagements
According to a new poll, a simulated product launch experience generates 70% more interaction than conventional product releases. A web-based social event portal with collaboration tools and features is used to facilitate virtual product releases. Because of the small number of entries available at in-person events, many people miss out. Others, on the other hand, do not have the opportunity to speak personally with brands or must wait in long lines. All of the inconveniences of standing in lines and navigating crowds are eliminated with virtual product launch activities. It allows participants to communicate with members one-on-one or in groups.
Chat sessions, breakout sessions, and many more sessions can be hosted by the organisers in a virtual event. Organisers can also provide live polling, surveys, and Q&A sessions during the immersive product launch to gather customer feedback and perspectives. It leads to higher levels of interaction, which keeps participants active during the event.
#4. Increased Revenues and Leads
Since virtual product releases have a higher rate of attendance, interest, and commitment, they generate more eligible leads. You’ll almost certainly see an increase in sales as a result of more eligible leads. Furthermore, as compared to conventional product releases, interactive launch activities should predict a higher rate of interest (ROI).
#5: Expenses are being reduced
It aids in the reduction of costs associated with renting a room, recruiting workers, commuting, lodging, and other services. Online product launch proves to be cost effective in comparison with investment in virtual event network.
#6. Environmental Friendly
There may be some harmful environmental impact with large crowd gatherings, as observed in traditional events. Every year, tons of waste are exposed as a result of physical events, triggering ecological destruction. Online product releases are an environmental friendly solution that reduces carbon emissions.
#7. On-Demand Content
The material of the event and stimulated product can be viewed for 90 days after the event has concluded. Visitors can view the material on-demand and share it with their peers and families, unlike at physical gatherings.
#8. Data Trackability
The only requirement for tracking data with physical product releases is attendance at the time of enrolment. Virtual product releases, on the other hand, allow for digital footprinting from the moment people register to the event till it finishes. With virtual product releases, every digital attendee step is monitored. Who did they associate with, exactly?
#9. Attendee Feedback
Through submitting the follow-up survey by email, virtual product releases make it easier to collect input from attendees. It is recommended to ask the guests about their experience, regarding what got their attention. This valuable information helps in identifying hotspots which is beneficial for future events.
Over to you
Finally, when going interactive, the number of attendees rose by a factor of ten. Guests from all around the globe can attend the virtual event, irrespective of their geographical location. The company, on the other hand, gains increased exposure to highlight the most recent product launches in order to draw worldwide attendees.
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