Strategies for Taking Pre-orders for a New Product

Episode 305 | Strategies for Taking Pre-orders for a New Product

Date: 2016-09-13

Link: Startups for the Rest of Us

 

Startups for the Rest of UsSales is about finding what people want, going out and getting it, and then delivering it to them.

If you create something and then go find people to sell it to you might have invested a lot of time creating something nobody will buy.

Taking pre-orders is a step in the process to identify if you are on the right track.

Building an email list serves as a proxy for making money.

Build a list of a couple thousand people before asking for money.

Pre-orders are risk mitigation and they help fill in the knowledge gaps (what features people want, how much they are willing to pay, etc.).

When you’re doing pre-orders you want to give an outline of what you are selling (if a book) or mockups (if you are selling software). Walk through all of the important parts that solve their problem.

Hone in on the features that a majority of the people feel are important to them.

People that sign up for pre-orders are looking at it as a longer term investment.

If you are talking with somebody and you name a price then their mind is going to automatically be anchored to that price rather than what the value is.