Pre-orders are when you let customers order items ahead of time before they become available. With the understanding that it will arrive later,
Amazon allows customers to pre-order books at a discount price for a few months before the release. Pre-ordering phones, laptops, and consoles for video games is a great way to generate buzz and hype. Pre-orders can be made for Thanksgiving turkeys and holiday cookies by restaurants.
Why? How can pre-orders benefit your business?
Pre-Orders are a great way to save money
1. Assess interest in a product.
It can be daunting to launch a new product. It can be scary to launch a new product.
Pre-orders remove a lot of the risk and uncertainty. You can gauge the interest of your target audience and determine if they would purchase your product before you spend too much money on inventory. You can also use this opportunity to review your pricing and make adjustments before you launch.
2. Increase cash flow
Cash flow management is one of the biggest challenges when you launch a new product or business. It’s true that you must spend money in order to make money. It can be hard to raise the funds needed to produce large quantities.
Pre-orders can help you generate revenue before manufacturing your products. Pre-orders will give you a better idea of the inventory that you’ll need.
3. Get buzz going for a product launch.
Pre-orders are for people who want to feel unique, like trendsetters. They’re the first to receive a new product in the world!
Pre-orders can be a powerful buzz-generator. People want to create trends. They also want to share the news with their friends and family. They are proud and excited to share the news with you. This, when combined with a strong launch campaign, can give you a big head start for your product or business.
4. Learn how many items are required to make.
Manufacturing can be costly, as we have already mentioned. While you don’t want too much inventory, you do want enough. Pre-orders allow you to know how much inventory is needed to get started, and how much you can manufacture going forward.
1. You can create a landing page for pre-orders.
Although product pages are wonderful, landing pages offer a way to provide more information to potential customers. In most cases, your product (or even your business!) You need to show as much trust as you can.
Make sure to include clear, high quality photos of the product from different angles. If you sell clothing, make sure the color and size are accurately conveyed.
Next, include details such as ingredients, nutritional information, age ranges and other pertinent information that could help people make a decision about purchasing the product. Trust can also be built by testimonials, certifications, or money-back guarantees.
Make sure you have multiple purchase buttons distributed across the page. Your site visitors should have multiple options to purchase without being too extravagant.
2. Make sure to specify when the items will be shipped.
Customers who pre-order products are placing a lot of trust in you, even though they may not receive it immediately. Be clear on your landing page about when your order will ship. Follow through! Make sure your manufacturing and delivery processes meet your deadline.
3. You can build awareness before it is too late.
A well-designed marketing campaign can create anticipation and build excitement before you open for preorders. This can be done in many ways, so you might want to try more than one.
- Paid advertising.
- Social media marketing. In the weeks leading to pre-order availability, share updates on your social media channels. Let your followers know about what’s happening and how they can purchase.
- Email marketing. Email marketing. You can make existing customers feel special by offering them the chance to order your products early.
- Influencer marketing. In exchange for an honest review, send samples to social media influencers. This is a great way to reach new audiences and collect testimonials that you can use in landing pages.
4. Offer incentives
Why should pre-order customers purchase something they won’t get right away? You should usually offer some type of bonus.
You can get a discount of 10% for buying early. A free accessory or add-on could be included with the shipment of your product. You could also offer a pre-order exclusive package that contains multiple items and all goes together.
5. Consider limiting pre-order availability.
FOMO (fear of missing out on) is a strong motivator. This strategy can be added to your pre-orders in several ways:
- A time-based countdown should be included. Pre-orders should be limited to a few hours, or even days. Customers must understand that they will not get their order in the time frame they have set.
- Limit the pre-orders that you accept. You can limit the number of pre-orders you accept. This will give your product the exclusivity trend setters are looking for.
6. Keep track of everything
Before you launch pre-orders, make sure you have tracking installed on your website. This will give you valuable information about which customers purchased your product, and from where. This information can be used to market to these customers and reach other, similar audiences.
WooCommerce provides a lot of information by default. However, you can also use tracking codes from Google and Facebook.
7. Once products have been delivered, don’t stop marketing.
Once you have fulfilled all pre-orders the hard work does not stop. Reach out to those who have ordered your products and request reviews. Encourage them to share their purchases with their friends, and ask questions about their experiences. You can reach potential customers by doing this. It also gives you valuable information that will help you improve your product.
Also, you don’t want the momentum to die. You can invest the pre-order revenue back into inventory, product design, marketing, or both.
Which marketing strategy resulted in the highest number of orders? When the product is officially launched, continue to run ads, send emails, and partner with influencers.
Accept pre-orders immediately
Pre-orders can be a great way to create buzz about a product, make money for manufacturing and find out how much interest there is in your product.
Pre-Orders is a WooCommerce extension that allows you to accept online pre-orders. You can accept pre-order payments either upfront or after the product ships.