You’ve developed a new product or service that is poised to revolutionize your industry, but it may amount to nothing if you fail to garner the attention of potential investors and buyers. This is the critical stage for any new product or service, and many an innovation has been lost to time simply because inventors or business developers never reached the audience they needed to successfully promote their wares. When unveiling a new product or service there are a few tips you can follow to help make your presentation more effective, so you can capture the elusive interest of customers and investors.
Know Your Subject and Your Audience
It may seem obvious, but this is where many product presentations fall down. It is important to know your product thoroughly, and that includes both its commercial and developmental history. Spend some time researching your product, giving special attention to both successful and unsuccessful innovations over the years. You want to be able to clearly explain what sets your product apart from others on the market, and where your innovations differ from those in the past. If there were any problems in developing the final prototype, make sure you understand them thoroughly so you can answer any questions that may be put to you with confidence.
Also consider your audience, and gear your presentation to their understanding of the product and the industry it serves. For example, if you are addressing a room full of CEOs and marketers, it may be wise to keep the technical jargon to a minimum. This is an audience that has limited hands-on experience with product development, and while they need to know as much about the product as possible they do not necessarily need to know the details of its construction.
Avoid the Script
If at all possible, avoid reading from a script. Rehearse your presentation so that it flows naturally. Reading from a prepared script often gives the impression that the presenter doesn’t have a full grasp of their subject, and this can make potential investors hesitant about signing onto a project. Prepare note cards for reference, but keep the flow natural and conversational.
Every presentation needs a solid structure, consisting of a defined beginning, middle and closing. Start off by introducing yourself and your product to the assembly, clearly stating the purpose of your presentation. The main body of your presentation should be broken up into clearly defined topics, which you will summarize in your closing.
Visual aids are important to any successful presentation, and can help you to impress upon your guests the value of your product. Charts and graphs can be used, but if possible prepare an audio-visual presentation to accompany your presentation. Investors like to see that as much thought and effort has been put into a product presentation as has been put into the product itself. Think state of the art, and prepare an audio-visual component to enhance your overall presentation.
Set and Setting
First appearances can be vital to a successful product demonstration, and it is important to choose a location for your presentation that reflects your professionalism and determination to succeed. While it requires a financial investment, the best place to hold a presentation for investors is always a professional event space. Private events spaces offer all of the amenities you need to make a solid first impression on potential investors or buyers. Professional hired venues provide a choice of rooms, which can be appointed to match the tone of your gathering. Whether you are planning a straight lecture, followed by a short question and answer session, or are inviting your investors for a presentation followed by a formal luncheon or dinner, a professional event space can handle all of your needs.
When booking an event space, be sure to ask about the availability of any equipment you may need for your presentation, such as audio-visual equipment or an internet connection. If you are planning to serve refreshments, ask the on-site event planner if they can recommend a caterer to supply food and drink for your guests. Many venues have on-site catering staff that can be hired as part of the overall booking fees, or at the very least can refer you to caterers with which they have worked successfully in the past.
Introducing a new product or service to the marketplace is a pivotal time for any company, and it is important to get it right. Investors are looking for more than just products to invest in, they are looking for business partners that exude the confidence and professionalism that is the measure of success. Following these simple tips can help make your next product presentation a rousing success.