For good reason, pre-orders are becoming increasingly popular in the eCommerce world. Adding preorders to your Shopify store is an excellent option to utilize. As the product seller, you may build anticipation for your product launch while also delivering (or exceeding) the quality of the product that you promised to customers who pre-purchased it.
There is a lot at stake if you don’t do this right, so make sure you have a fantastic strategy in place that takes advantage of all you have available to you.
This article will teach you all that you need to know about launching products with preorders and how to use them to successfully increase hype for a product launch and use them to successfully generate buzz for a product launch.
Product launches can be exciting, difficult, and time-consuming. You’re ecstatic about your new store and goods. You want to tell everyone, but you can’t…yet. Preorders are a terrific way to generate excitement for the introduction of a product or service, and we’ve gathered some excellent insights on the ways you can successfully create anticipation for your product launch with pre-orders.
But, what exactly is a PreOrder?
A pre-order is merely an order for an item that is not yet in stock, has gone out of stock but will be coming back, or an opportunity to create hype around an anticipated new product launch.
A pre-order option indicates that the buyer will get their item when it becomes available at a later date. It may appear easy, but offering pre-orders on your Shopify store allows your customers to purchase the products they want by reserving them ahead of time before they are officially available, without having to worry about these items selling out.
There are several methods to set up a pre-order campaign and utilize it as a marketing technique to boost the average order value of your shop. Let’s go through some of the primary benefits of using preorders.
Main Benefits of Pre-orders
- Pre-orders are accurate sales estimates.
Pre-orders provide you with an accurate sales estimate, allowing you to make smarter business decisions. If your product does not perform well, you may cancel the remaining orders without having to go through the lengthy process of processing returns and losing customers. It saves you time, money, and the reputation of your business.
- Allows you to forecast product demand ahead of time.
If a product is still being created or is out of stock, offering preorders allows the merchant to estimate demand. This saves time and ensures that the consumer has a streamlined process of receiving the goods that they requested, as well as helping you, the merchant, to be more prepared.
- Creates anticipation for new products.
When an eCommerce store runs out of an item that a customer has been anticipating, having a preorder option allows the buyer to purchase ahead of time so that they do not face the disappointment of the item being out of stock and having to wait again.
Elon Musk’s Tesla Cybertruck, which according to Musk received 200K pre-orders in November of 2019, is a prime illustration of this. The product has yet to be produced, but it proves that if a buyer wants something badly enough, they are willing to wait for it. We’ve also seen it with Apple, which almost always allows pre-ordering for new products and sells hundreds of thousands of them within a week or two of their new release.
But how can you generate excitement for your product launches?
We’ve discussed the benefits of employing pre-orders as a strategy; now we’ll look at how you can optimize your Shopify store to support pre-orders to generate buzz around your product launch.
- Install a Pre-order app
The first thing you should do to avoid chaos is to set up a Pre-order app on your Shopify store. If you have an eCommerce store on Shopify, you can provide your customers with a pre-order option by using apps such as Pre Order Now to make the process easier. Apps like this one include sophisticated features such as stylish pre-order badges, pre-order discounts, mixed cart alerts, and pre-order emails that send special emails to pre-order customers after checkout.
- Develop a marketing strategy for the items that will be available for presale
If no one knows about the product, how will they land on your e-commerce store to pre-order it? Word of mouth by itself will not be sufficient enough. You must raise awareness! Market, market, market! Whether it’s through social media ads, email marketing, or conventional ways, this will drive shoppers to your store to create buzz and sales for your preorders.
- Create a feeling of urgency
For the items by positioning them in such a way that they appear to be selling out soon. You may also use uncertainty to your advantage by reminding customers that if they do not pre-order now, they may be unable to purchase the product for an extended period of time. You can also create enticing deals to urge them to secure the product, for e.g Customers who preorder receive a discount or an incentive, such as exclusive access to a limited edition item or a gift card.
- Continuously develop content to drive engagement
Engaging your customer base is vital since you don’t want to destroy the buzz for a product that hasn’t yet been launched, as this will lead to fewer sales and fewer pre-orders. Customers will forget about your goods if you don’t keep them in the loop using content marketing strategies to maintain their interest.
Having said that, there is nothing better than launching a new product! Offering preorders on your products is a great method to get people enthusiastic about a new product and a great way to make sales before you formally launch your products. It’s an excellent way to build a discussion around your product and brand and evaluate demand before its release.
To summarize, below are the main points to consider:
- Install a Pre-order app for your Shopify store
- Create a marketing strategy for the products that will be offered for preorder
- Create a sense of urgency for products
- Continuously create content to drive engagement
- Make preparations for the success of your preorders
Preorders are becoming increasingly popular, and with cause. It’s a great approach to generate social media excitement, enhance sales conversions, and foster customer loyalty for a new product introduction.
If this type of solution is something that will work for your eCommerce business, try Preorder Now on your Shopify store free for 14-days!