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.
[16 minute read]