*6 Minute Read*
GEARING UP FOR A PRODUCT LAUNCH TIPS
Have you ever desired a product that hasn’t been released just yet? This may happen when your favorite brand advertises a new product release and it is considered to be the next best “thing”. You don’t want to miss out on the opportunity to be the first to own the next best thing.
Lucky for you, the company is allowing customers to get access to this product before it is even created by way of pre-orders. That’s how companies create buzz for their product. As a product-based business owner, have you ever considered extending the opportunity to allow your customers to pre-order your products?
In this article, we’ll look at the reasons why you should always offer pre-orders, while also discussing some ways for you to successfully create pre-order campaigns for your next product launch!
The Benefits Of Allowing Product Pre-Orders
The primary benefit of allowing pre-orders is to get a better understanding of the demand, or lack thereof, for your new product. An insight like this into consumer demand will allow you to make cost-saving decisions related to the initial order from the manufacturer. You will have a clear idea of the sales and revenue your business should expect to generate for the product over a specific time period.
A secondary benefit of the practice of allowing pre-orders is that the advertising campaigns can create a huge buzz and the feeling of anticipation in the marketplace. It will motivate old and new customers to take action immediately due to the fear of missing out. Overall, it will be your engaging advertisement campaign and a well-thought-out sales strategy that will be pivotal to the product’s success.
How to Launch Successful Pre-Order Campaigns for a product
What if you look for something that hasn’t been made yet. A few decades ago, people would have called it a stupid idea. However, the idea is known as Pre-order eCommerce now. Die-hard fans or dedicated users order a product that hasn’t been manufactured yet.
The volume of pre-order before a product launch can measure the demand. Additionally, it can also create a buzz in the market to motivate old and new users. What you can do for Pre order campaigns:
You can also hire an online marketing agency to do all this for you. An engaging advertisement and sales plan are indispensable to the pre-order sales strategy. If you want to know how to set up pre-orders for your product, you have come to the right place.
Scroll and scan till the end to know about pre-order strategy before a successful product launch.
Why do you need a pre-order campaign?
Why do you think Apple launch its pre-order wording long before September? The response in Apple order sites tells everything. The market is literally buzzing with it.
Like those flagship products of big corporations, pre-order sales strategy is an excellent tool in small business’s arsenal. So, why and who need this effective pre-launch technique?
- To launch a new flagship product
- Special and limited edition seasonal items (e.g., Santa on the Fanta can)
- Small businesses that launching a new service
- A big cut on the existing price
What should be in your pre-order advertising plan?
An effective plan
If you set up pre-order availability 4 to 6 months before the product launch you will e flooded with the order on the first day. In fact, 28% of the order will come on the first day.
Do you have a plan to cope with this order surge? If not then it’s the time to make one. Start planning months before the launch.
It is important when you are announcing the pre-order. Rule of thumb is 4 to 6 months prior to the launching date. The next big question if how you will announce.
Select what platforms you will use for announcements and advertisements. Please note that generating early buzz could be the key.
Pre-order lifecycle-based timeline
The lifecycle of the pre-order campaign has its highs and lows. The surge of orders will cease after a few days and there will be a dead zone for 7 to 10 days.
You need to plan your advertisement according to this. Do not feel down if the ‘add to cart button’ is not making enough sound throughout that dead zone. Things will catch up.
Make sure you have a solid plan to leverage those dead days after the product release.
Target-oriented marketing team
You will need a dedicated marketing team for the campaign. The team members need to be passionate about the product or the service. Unless they have a deep understanding of those, there is no way they can make it successful.
The team needs to know the progress and development of the campaign. Distributing flyers about the campaign in the office could be a great motivation for the team.
From marketing to IT, everyone in the organization needs to be involved in the plan. Otherwise, the dead zone may extend longer.
Creating scarcity and value
Most of the pre-order clothing line creates a fear among the customer that they will lose something very special if not pre-ordered. This feeling of scarcity creates an influx in preorder and boost sales.
Another way of boosting sales can be adding value. If you can offer extra value with the order the buyers will be both motivated and dedicated. Gifts for the first 100 or an extra discount for future purchases will incentivize the customers.
Active social media platforms to create buzz
Around 71% of customers buy new products based on social media referrals. Thus, creating a buzz using social media will be the most important part of your campaign.
If you can generate a word of mouth trend among social media followers, more sales will ensure more lead. This social proof is all about validation. Satisfied customers will bring more with them.
Awareness driving campaign
Customers need to know that you are launching something new and there is an option to order it early. Otherwise, your eCommerce store will be deserted and the add to cart button will be silent.
There are many ways to tell customers about your campaign. Advertisement on digital platforms like Facebook, YouTube, and Google is one of the most effective ways.
The newest trend is the use of CRM (Customer Relationship Management) software. It has an email list in it and can successfully launch email marketing.
How to set up pre-orders for your product in 7 ways?
Create a Product Page
You have a great web page for your product. Then why you will need a new one? Well, the new page will work as a buzz generator and you do not have to deal with unresponsive page due to flooding of orders.
Make sure the new page is simple and the customer can order easily. Advertising other products on this page will not be pre order best practices.
Set up a New Payment Method
Like the new page for ordering, a new payment method will help to mitigate the order surge during the first few and post-dead-zone ays. While you are tailoring the marketing strategies, make sure you have set up a new payment gateway.
It will be an excellent opportunity to collaborate with other financial institutions. So let’s not waste it and get ready for the first click on your eCommerce store.
Test the Pre-order sequence before launching
Things can go wrong during the ordering. Yes, it is obvious that sometimes the system may not work properly during the order rush. So it will be better to test the order sequence before the customers.
You can order a few times through the webpage and can see whether things are going smoothly. Otherwise, you need to talk to your tech department.
Keep track of the order and the customers
CRM will be really handy at this stage. They can keep track of every order and the customers. Now, you can check with them to learn about their satif=sfation level. Moreover, you can use the contact info for any future discount program.
You can invite those early-bird customers to provide testimonials before the launch of the next products or services. In this way, your word to mouth campaign will gain new momentum.
Let People Know the Details
Yes, you need to inform your loyal and new customers about the campaign. Until they know, there will be no view and click on the new web-page and no one will use your new payment gateway.
Therefore, it is very important to inform the local and regional market about your flagship product or service.
Business is all about nurturing not forgetting
You cannot just forget about the campaign and wait for the d-day of launching. Within the period between the first announcement and the very first order, you have to take every action to fulfill your product launch and early order campaign.
Utilize all your resources so that the strategies become flawless and the execution stays up to the mark. When you nurture a business idea throughout the development phase, it will always bring revenue for you after reaching maturity.