What is the main objective of pre-order?

Pre-order is when customers buy a product before it is available in store pre-order can be done weeks or even months in advance, Customers book the product in your ecommerce store so that they are among the first to receive it and pre-order aims to create excitement and hype around a product before it is launched, In this way, customers can secure their place in line to receive the product when it is ready for shipment.

Advance applications have two main benefits:

• For customers, it ensures that they get the product once it is released.
• For companies, it helps estimate demand and plan for production.

A well-executed pre-order strategy excites customers because they know they can own the product before the seller puts it on the market for public purchase. A strong pre-order sales strategy means more than just making the product available for purchase before launch, as it is also about giving customers incentives to buy the product and creating a system to ensure they get the product on launch day.

Pre-order types

Pre-order types can be divided into two types, and each type has a specific strategy, namely:

1. Pay Now

Payment now is the most common type of pre-order, the full sale price of the item may be due at the time of pre-order, the payment is collected like a normal purchase, and you can almost think of it as a normal sale, but with extended execution time, and with pre-orders, the customer will receive information showing when the shipment is expected.

2. Pay Later

The other type of pre-order is payment later, this method allows customers to make a deposit or "reservation" without payment on one of the products, then they are charged for the remaining or full sale price once the item is shipped.

How does pre-order work?

Pre-order also works through two strategies:

1. Pre-order status

Customers can pre-order via the company's website, physical store or other sales channels. They usually deposit an advance or pay the full amount to complete the application, and most advance applications have a fixed period of time, after which no further applications will be accepted. This creates a state of urgency for interested customers.

2. Change or cancel pre-order

Customers can sometimes change or cancel pre-orders, in accordance with company policy. Usually, the ability to adjust the order is reduced as the release date approaches, and once the product is shipped, customers lose the ability to make changes.

How to increase pre-order sales?

Pre-order gives you a head start on selling your product, allowing you to earn revenue before launching your product, and enables you to build momentum around the launch date and promote launch day events, especially when adopting certain pre-order strategies, which are as follows:

1. Pre-order campaigns

Pre-order campaigns are an effective way to increase visitation and brand awareness in anticipation of the launch of upcoming products, and these campaigns often run alongside social media posts or emails that make people aware of the launch date, however, building successful pre-order campaigns for a product requires careful planning, strategy and implementation.

2. Understand your market and product

Before launching your pre-order campaign, you should understand what your market wants. What do they want? How much do they want? Why do they want this specific element? How will they use this product once it reaches home? Once you answer these questions, you can start determining your customer base, and the best way to deal with them.

3. Select Target Customer Base

This is the second step towards success because without knowing who your target audience is, you can't advertise the product effectively, to who you're marketing to? What do they care about? How can you communicate with them? Knowing these questions helps you create an ecommerce pre-order strategy so you can reach your intended audience and turn it into customers.

Once you select your target audience, you can start narrowing down your exemplary customers exactly, if you're selling flowers, you might just want to sell to people looking to buy flowers, and on the other hand, if you're selling concentrates, you might just focus on premium consumers enjoying quality products.

4. Preparation of the pre-order advertising plan

Set up pre-order announcements and can order at least 3 to 5 months before launching the official product to improve your chances of dumping orders before ordering any stock virtually.

Plans to deal with increasing demand on the official product release date by ordering additional inventory, also consider planning for the coming months to make sure you have the resources of people available to efficiently pack and ship orders, even if it means hiring temporary staff.

5. Don't forget to communicate with your current customers

It makes sense to target those on the pre-order subscriber list especially because they are the ones who have shown interest in the product by subscribing, but that doesn't mean you ignore your existing customers, so why are customers returning to a particular brand? Of course, because this brand provides them with value, so sharing information about pre-orders with your existing customers can add value to your relationship, which means you give them early access and the opportunity to buy your new product. This builds a sense of exclusivity.

Conclusion:

Pre-order allows you to increase sales and strengthen relationships with customers by turning a potential sale into a purchase. It helps give your business the clarity and vision you need to better predict revenue and forecast demand, and allows customers to enjoy the old thrill of expecting their new favourite product - your product - that reaches their home threshold.

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reference:

1. << Do these 5 marketing tricks to pre-order to double your sale >>, notify-me.
2. << 3 ways to increase your sales through your pre-order strategy >>, mintgenie