Have you ever pre-ordered and wondered why pre-order strategies work well?
Pre-order strategies are groundbreaking and tap into our innate sense of exploring and pioneering. Our human tendency wants us to be the first in everything. As a result, we endeavour to get our hands on the product before it becomes ordinary.
Magento development allows pre-orders as one of the most effective and versatile strategies for eCommerce businesses.
Magento pre-order allows people to place an order for unreleased products and business owners to sell products they do not yet have.
3 common pre-order methods
1. Pay now pre-order
This method is like regular shopping but with a longer shipping time. It allows better in-flow cash with upfront payment.
Pay now pre-order is also suitable for out-of-stock products. Moreover, Magento extensions can automatically change the ‘buy now’ CTA to ‘pre-order’ when a product is not in stock.
2. Pay later pre-order
As the name suggests, customers can order and pay later. This leaves room for both customers and owners to cancel the deal anytime, as money is not involved.
Additionally, it buys time for customers to accumulate money if the product does not fit into their budget.
3. Crowdfunding
The idea of this method is based on people funding a new project or product. However, customers will only be charged if there are a specific number of pre-orders. This allows business owners to set minimum sales targets and receive money upfront.
Crowdfunding is mostly suitable for first product launches. Also, many crowdfunding platforms will promote your campaigns.
3 practical Magento pre-order campaign strategies
1. Start your campaign early
People misunderstand that marketing should start during pre-order. However, launching your marketing campaigns long before the pre-order launch is critical. For this, you can do the following:
Create brand awareness through social media promotion, email marketing, and press releases
Release special additions and packages prior to the pre-order launch
Hire Magento developers to build a dedicated website for pre-orders only and monitor traffic
If your marketing reaches enough people, only then the pre-order campaign will be successful. For that, you need to prepare early.
2. Create viral loops
Even in the age of social media, where millions of prospects are at your disposal, virality is still difficult to create. For this, you can share discounts and offers to attract customers. Moreover, offers will persuade people to share your store link with others.
Similarly, you can create exclusivity by sowing the seeds of FOMO. You can create a waiting list that will coax visitors to buy your product.
3. Partner with influencers
Partnering with influencers is among the most beneficial way to attract customers. However, finding influencers suitable for your business niche and products is essential.
You can also send samples to influencers rather than paying hefty prices. If they like your product, they will promote it on their channel.
In conclusion
Pre-orders are more or less similar to regular orders with delayed shipping. However, the crux is efficient Magento development, how you set up your campaign, and how it works for your business and customers.