How to Throw a Launch Party

The purpose of a launch party is to introduce a new product to existing customers as well as draw in potential new customers. Elaborate launch parties will also bring with them much publicity. However, if the launch misses its mark, it can be a very expensive investment that can potentially backfire. A new product can only be launched once, so in both production and execution, everything must be perfect.

Instructions

Difficulty: Challenging

1. Know your market.
   
   The very best way to be sure that your launch party is successful is to be sure that there is a market need for your product before launching. Do your homework. Study the market. Know your target audience.
2. Set your company goals.
   
   What are you trying to achieve? WHO do you want to impress? Are you expecting to walk away with contacts or with orders?
3. Set your budget.
   
   Budgets are a necessary evil. Party planners don't like them at all. As a rule of thumb, your party budget should be less than 10% of the expected sales.
4. Get Creative. Actually, probably get creative help.
   
   Chances are that your expertise is not in party planning. You know your market. You know your business.
   
   There is a lot of pressure to be unique, and to have a catchy gimmick. If you have marketing professionals on staff, start with their help. If not, contact a marketing firm.
   
   Explain very distinctly what your image as a company and for this brand are. There is no sense in having a carnival atmosphere to launch a new luxury item. If your brand speaks of luxury, your launch should mirror that aura as well. If you are selling baseball items, a luxury launch in a fine hotel will not have the right feel to it, whereas a sports bar background with major players as guests will attract many of the right people.
5. Find out as much as you can about previous product launches. What did the press comment on? What things impressed you?
6. Choose.
   
   Believe your own instincts. You've had lots of input. You know your product and your customer base better than any marketing firm. Envision yourself as a potential customer and envision what would impress you.
7. Invitations
   
   Invite all of your best customers. Even if this product may not work for them, they have friends and they have history with you. They can attest to your customer service, your on time deliveries, and to your business ethics.
   
   Invite the press.
   
   Invite your friends and relatives. This is a group that you can count on for cheering you on and making sure that the atmosphere is exciting and positive.
   
   Invite the leaders that represent your target market. Invite the people that you wish were your customers.
8. Order giveaways that correspond with the theme or perhaps product samples.
9. Order food, musicians, entertainers.
   
   Regarding these items: Test the food. Listen to the musicians and entertainers. Don't take someone's word for it. An inappropriate entertainer or music that doesn't coordinate with your theme can doom your product launch.
10. Send press releases out 60 days in advance, 30 days in advance, and again 15 days in advance.
    
    Be sure to mention some enticing items, such as a major drawing, special attendees, etc.
11. If your invitation is to the general public, get their names and addresses by having a drawing for a free prize. The prize needs to be substantial enough to entice people to give up their business cards or information.
12. Delegate details to those you trust.
    Do not delegate the overall responsibility. It is too important. You need to be involved. You need to know that everything will be perfect.
13. Have a Plan B in place for all major items, particularly anything that weather can affect.
14. Double check all details. Execution of a perfect party is essential.
15. Get feedback from the attendees.
    
    There are many ways to do this unobtrusively; video taping, hiring models trained to ask specific questions, your own staff on hand, questionnaires, to name a few.
16. Enjoy your success. If all of the above steps are handled well, you cannot help but succeed.

Tips & Warnings

• For some theme ideas, look online for party sources. Shindigz.com has excellent props and theme ideas.