If you are launching a new product, WooCommerce pre-order is a handy plugin to include in your marketing plan. These first steps can help you generate pre-launch excitement and energy, gauge market demand for your product, and, most importantly, lock in early purchases to fund production or future marketing campaigns.
Why Should You Offer Pre-Orders?
Because it lets customers know there is a limited stock or for a short time duration until your pre-sale discount ends, it makes them much more likely to purchase.
You will get immediate cash flow even before the product can be shipped, and you might even end up with higher overall sales.
Let’s break down the most significant benefits of pre-order sales campaigns. These advantages apply to brand-new products and re-release launches.
1. Save Money & Time
Pre-orders can save you the cost and time associated with developing or stocking low-demand products or weak products/markets.
In addition to development costs, costs associated with the time that will go into marketing, execution, return, and sales service can also be “saved” when orders are first used to be delivered or re-release products.
In addition, if you can expand on information, resell to first-time customers (in the case of resale), resell trades, or word-of-mouth marketing opportunities, you can decrease your marketing costs, which may increase your ROI.
2. Make More Money
These advantages are closely related to previous ideas. When developing new products, first sales can be especially helpful in generating seed income to create and manufacture new products based on certified scales.
Getting those pre-order stories upfront also makes a profit: you can improve those areas and increase revenue when you can cut costs associated with its marketing.
In this post, you will learn how to increase your sales with your first commercial offer. Using these tools, you can create pre-order discounts, decide when to start and end your first purchase, and automatically convert unsold items to pre-order ones.
In addition, you can send emails to customers when a product is received. Keep reading to find out what you need and how pre-installation works for your store.
Things to Consider
#1. Make A Delicate Team
As a marketer or business owner, you have already dedicated yourself and your team to your business, and pushing a strategy in the first place is no different. Advance notice is essential because companies put in the effort, effort, and budget to succeed.
Please make sure everyone on your team is dedicated, from marketing to IT to customer service. Create newsletters to post in the office, get instant updates on pre-order status during weekly meetings, and involve your team in planning and achievement; success is a team effort.
#2. Build A Plan & Timeline
An essential part of product promotion is not the day before the launch or the launch date; what a company does in the weeks and months before a product launch is more critical to the promotion’s success than the launch date itself.
Because of this, it is essential to develop a clear and coordinated order plan that starts well before the launch date and hopes to generate as much publicity and excitement as possible to secure the order first.
#3. Create Value & Scarcity
Consumers need a reason to order before they can buy your product on sale, and the primary way to do this is to stand up and then give them an extra price to thank them for their first order. By sending purchases to future purchases or adding a small gift to their purchase, you reward them for their support in pre-ordering your products. You may also want to consider pairing your new product with existing products to maximize the revenue from your orders.
Another great way to stimulate demand and urgency is to create scarcity by appealing to the consumer’s fear of missing out (FOMO). Limit the number of products available for ordering or the time for ordering to achieve the highest quality – for example, the first 100 orders will receive a special gift, and the first 200 orders will receive an additional discount at a future purchase. In doing so, you encourage customers to buy now rather than wait until later.
If you complete a successful initial order, you will likely receive multiple charges and interest before launch day. One of the most common mistakes companies make when developing their initial plan is not preparing for success: the website stops working due to increased traffic or insufficient data to meet the needs.
To prevent this from happening, test your website’s bandwidth to make sure it can handle the crowd of visitors and set up a marketing team to help with any customer questions or suggestions (or the go. means of communication, email or telephone). Overall, pre-order is a great tool to increase the sales of your upcoming product.