Pre-orders are commonly done by many online businesses today. A pre-order is essentially an order for a product that is yet to be officially released to the public or not in stock. Pre-orders are popular because they can offer your business a lot of flexibility when launching a product, and they also positively increase sales. We shall explore how we can effectively use pre-orders to pre-sell like a pro!
Pre-orders allow customers to order products before they are released to the general public. Pre-orders usually differ from one company to the next.
Importance of Having a Pre-order Program
Reduces Risk of Loss
Normally selling products physically comes with a lot of risks. A lot of capital is needed to cater for inventory purposes, whether the products sell as much as had been earlier anticipated or not. Therefore, pre-orders “cushion” you from unanticipated losses. This is possible because your pre-orders are confirmed sales before you embark on the process of producing your product.
Keeps Production On Track
They assist you in integrating all your activities so that your overall selling process is on track and happens according to the set schedule. It also allows sourcing from suppliers to happen on time. This will enable you to always deliver products to your clients in good time and help you build a reputation as being an always reliable seller.
Pre-orders Prove if a Product is Viable
If a product gets a lot of pre-orders, you can go ahead and validate the product idea, commit to it and oversee mass production to satisfy the existing orders.
Types of Pre-Orders
Pre-orders exist in several forms. The most popular type of pre-order arrangement is the “Pay Now” pre-order. This entails paying for the product as soon as you make the pre-order. The payment here is processed immediately.
The other type of pre-order arrangement is the “Pay Later” pre-order. Here, a client makes the pre-order now and is supposed to pay for the product sometime in the future.
How Do You Use Pre-orders to Pre-sell?
You Can Use Incentives And Offerings
This is a great way to pre-sell using a pre-order. You can offer discounts to those who share the pre-order products that your store is offering. Once they share the link on their social media accounts that redirect people to your store, they will be entitled to receiving discounts on the purchases they make in your store.
Promote Your Pre-Order Products To A Community
Online communities are a great avenue through which you can market your pre-orders and anticipate sales. For example, you can pick out Facebook groups on the Facebook platform with people who present a potentially great target audience for your pre-order products.
You can make pre-order arrangements with social media influencers to pre-sell more. Pay-later pre-orders can allow you to strike a collaborative deal with them where they are required to bring more pre-order clients to your store. This can put you in a great position to achieve a large volume of pre-sales.
Use Email Marketing
Scheduling an email blast to your clients is an amazing way to pre-sell. Here, you can inform your clients that they can now make pre-orders of your products. Follow-up emails reminding them to arrange for their pre-orders before the set period elapses.
Create a Buzz
To increase the chances that you will end up pre-selling more, there is a need to create sufficient “buzz” around pre-order products. Always share sneak previews of your pre-order products. This can be in the form of amazing, high-quality videos that will generate a lot of engagement. They will create a lot of anticipation for your upcoming products and enable you to get many pre-orders that will help you pre-sell much more.
In conclusion, pre-orders offer brands a chance to seize full control of their selling process. This is because pre-orders enable validation of a product before its launch. By establishing the viability of a product, potential losses incurred from product development are averted. Pre-orders can enable a business to get more pre-sales if the brand is engaged in creating more awareness around their pre-order products. These can be by leveraging social media influencers to attract more pre-order clients and offering promotions.