Pre-orders help attract prospects

New Ideas in MarketingEssential news for marketers, summarised by YouGov
February 04, 2021, 12:41 PM GMT+0

Businesses can implement different pre-order strategies like pay now, pay later and crowdfunding as per their requirement.

Allowing pre-ordering can help businesses boost cash-flow, plan successful product launches and mitigate possible production risks. While pre-orders are complicated to execute, they enable brands to validate product demand and capture leads before the product reaches the production stage.

To execute successful pre-order campaigns, set up the pre-order listing on ecommerce platforms and upload visual images of the product. Providing discounts and limited offers can help brands create a sense of urgency for pre-orders, and entice prospects to purchase, thereby driving demand and creating a “viral-loop”.

Marketers can leverage social media channels like Facebook to create hype for their pre-orders, target “lookalike” audiences and leads via video posts. Brands can also collaborate with influencers and promote pre-orders on social media groups to boost high purchase intent traffic.

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