Why Do I Need A Virtual Product Launch Event?

With the change in dynamics in 2020, in-person events have been transformed completely into a visually rich digital environment. Today, virtual has become a new norm and it won’t be wrong to say it is indefinitely the future of the event industry. Virtual events have been prevalent for a long time. But due to the unforeseen impact of the coronavirus global pandemic, the percentage of virtual events spiked up suddenly in 2020.

As restrictions have been imposed on public gatherings, travelling and social distancing protocols have been circulated. It resulted in a complete stop of physical events. The events planned up for the entire year of 2020 and beyond either got postponed, cancelled, or moved online. Organisations and businesses have no other option than transforming their live physical events into virtual events. Right from virtual meetings, conferences to virtual trade shows, exhibitions to virtual product launch events, all are hosted on a comprehensive virtual event platform.

Virtual Launch Events by Brands

Marketers and event planners are tapping on the most powerful technology to keep going. In the past few months, many big brands have organised virtual launch events and generated greater leads and revenues. However, resulting in boosting business growth. Apple, Johnsons and Johnsons, etc. are some of the brands that have set phenomenal virtual product launch event examples. Virtual launch events enabled brands to showcase their latest product offerings to a wide spectrum of audiences globally. Right from reaching ample attendees globally to increasing sales and revenues, virtual product launch events offer many more perks. The advantages offered by virtual launch events are far beyond the reach of in-person product launches. However, it becomes beneficial to organise a product launch virtually. In this post, we have listed some virtual launch event benefits. It will give you an insight into why you need to leverage virtual events for a product launch.

Benefits of Virtual Product Launch Events

#1. Increased Reach and Better Visibility

Of course, virtual product launch results in better reach and better brand visibility. Brands that leverage virtual launch events to showcase their latest unique offerings reach a wide spectrum of attendees globally. Unlike traditional product launches, geographical constraint and space limitations are no more a barrier with virtual product launches. Virtual product launches attract a wide segment of a global audience, thus resulting in getting better brand visibility.

#2. Flexibility

Virtual product launches enable more customers to attend or participate in the event. The flexibility offered by the event format enables attendees to access the event from the comfort of their own space or desks. Attendees do not need to travel to an on-site location to attend an event with virtual product launches. Attendees can tune-in at their convenience remotely via any device or browser supported by the internet connection.

#3. Better Engagements

A recent survey reports that a virtual product launch event has 70% better engagements as compared to traditional product launches. Virtual product launches are organised on a web-based virtual event platform that offers engagement tools and features. During in-person events, many attendees don’t get a chance of attending events due to limited entries. Whereas some do not get a chance to converse with the brands directly or have to wait in queues for long hours. Virtual product launch events resolve all these hassles of waiting in queues and crossing the crowd. It enables attendees to have 1:1 or group interactions with representatives.

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Virtual events allow the organiser to organise chat sessions, breakout sessions, and more. Additionally, organisers can even incorporate live polls, surveys, Q&A sessions amid virtual product launch to gain audience opinions and insights. It results in better engagements thus keeping attendees engaged with the event throughout.

#4. Better Leads and Revenues

As virtual product launches have better attendance, participation, and engagements it results in better-qualified lead generation. With more qualified leads you are sure to boost revenues. Moreover, an improvised Rate of interest (ROI) can be expected from virtual launch events in comparison to traditional product launches.

#5. Reduction in Expenses

It helps in reducing the cost involved in renting a venue, hiring staff, travelling, accommodation, and making other arrangements. Investing in virtual event platforms is way more expensive than of organising a virtual product launch.

#6. Environmental Friendly

Large gatherings at a physical product launch results in affecting the environment adversely. Tons of waste are exposed after physical events every year resulting in causing environmental calamities. Virtual product launches are an eco-friendly alternative thus resulting in a reduction of carbon footprints.

#7. On-Demand Content

With virtual product launches, the content is available for 90 days even after the event gets over. Unlike physical events, attendees can access the content on-demand and share it with their friends and family.

#8. Data Trackability

Attendance at the time of registrations is the only criterion to track the data with physical product launches. Whereas virtual product launches enable digital footprinting right from the registrations till the event ends. Every digital attendee move is tracked with virtual product launches. Right from whom they interacted with? What did they comment on? What they liked and so on. In short, it helps in measuring the performance metrics.

#9. Attendee Feedback

Virtual product launches make it easier to gather attendee feedback by sending the follow-up survey via email. You can ask the attendees what they enjoyed at the event and what does not hold their interest. It helps in knowing the hotspots that require improvement for the next event.

In conclusion, by going virtual, the percentage of attendees increased exponentially well. It enables attendees to access the product launch virtually from their remote locations. Whereas the brand gets better visibility to showcase the latest product offerings to attract global attendees.