Bringing a new product to the market is a monumental feat. The journey from the idea’s conception to the product’s development is riddled with challenges and technicalities. As a business owner, it is important to appreciate your hard work and congratulate yourself every time you hit a milestone and introduce a new product.
However, the real work begins at the time of product launch. You may have an excellent product that is superior in quality to its competitors or fills in a huge market demand gap.
However, unless you target the right customer base and effectively market your product, there is little potential for profit.
There are many ways to market and promote a new product. Each strategy appeals to and targets a particular audience. However, event marketing is an effective strategy for most types of customers.
What is Event Marketing?
Event marketing mainly focuses on raising awareness about your product. It is a fantastic strategy that involves promoting your product at large-scale events such as festivals or sports matches.
Participating in these events allows you to showcase your new product to a wide range of individuals, taking advantage of the large attendance to reach a substantial audience.
Excellent Ways of Promoting Your Product at Events
Promoting your product at events is an effective marketing strategy. If you’re looking for event marketing ideas, here are some excellent ways to promote your product at events.
1. Set Up a Kiosk
Setting up a kiosk at a large event is an excellent way to market your business and introduce a new product. The most popular type of kiosks are grab-n-go food and beverage systems that offer complimentary drinks or snacks.
By offering free soda or coffee, you can draw people to your kiosk and build a customer base for your new product.
However, if you don’t want to deal with the hassle of food and drinks, you can offer small branded merchandise of any other type.
The purpose of a kiosk is to attract people, and you can do that by giving away freebies. A simple keychain or pen with the name of your new product can do the trick.
2. Sponsor an Event
If you have the budget for it, consider sponsoring an event in exchange for branding and marketing at the venue. At the venue, your product name will be mentioned on all the signboards and standees and on all the materials used in the event, such as pamphlets and gift boxes.
While sponsorship is expensive, it is an effective way to market your brand and product. As a sponsor, your name and brand are used in all the marketing for the event, which is why 98% of businesses report increased brand engagement after sponsoring an event.
Therefore, the results make the investment well worth it.
3. Introductory Offers
Suppose your product has not been launched for the general public or has only recently been introduced. In that case, an event is a fantastic place to offer introductory deals.
You can offer a discounted price or an extended warranty on your new product. Introductory offers are a great way to gain customer attention, as most people consider this as actually saving money.
However, if you decide to offer introductory offers for the event participants, make sure that the discount or services you offer are better than your regular prices and discounts.
You have to give people incentive and motivation, which can only be done by making them feel like you’re offering a deal too good to pass on.
4. Social Media Discounts
Social media is the future of marketing. It is by far the most effective and cheapest tool to build brand awareness and market a new product.
You can use a social media discount at an event to drive traffic to your social media pages and make potential customers subscribe to your pages. This will allow you to build followers you can easily reach via your social media posts and stories.
For instance, you can take a page from Mr. Beast’s book and offer a followers reward – a discount coupon or prize for those who follow you on social media.
Alternatively, you can market your social media pages at the venue and ask people to post stories by tagging your business for an additional discount or to unlock special deals.
5. Partner with Influencers
Influencer marketing is one of the most effective techniques in digital marketing today. By partnering with social media celebrities, you can instantly access their entire follower base. Find out which influencers will attend the event you want to promote your product and connect with their manager, proposing a collaboration.
With an influencer standing by you at the event, posting about your product, and raving about its effects in front of a large audience, your product’s popularity will take off instantly.
Marketing and promotion of a new product require a lot of thought. You must be meticulous in planning and finding the most effective way to reach your target audience. With the event marketing strategies highlighted in this article, you can accelerate your product promotion and reach many potential customers in a single day.