Tips to Win Big with

CES (Consumer Electronic Show) in Las Vegas is one of my favorite shows to go to for hands-on access to the latest consumer products. However, the show is only once a year so preorder campaigns are like mini CES previews that give customers a sneak peak of a new product or service.???

With the introduction of crowdfunding platforms like Kickstarter and Indiegogo, young companies have the opportunity to introduce products with a turnkey package to raise visibility, brand and revenue.

LMGPR has done hundreds of preorder campaigns introducing robots, smart devices, wellness, and even appliances in impactful preorder campaigns. No campaigns have been the same, but the guidelines for success don’t change.??

Product introductory campaigns are like record release parties for products. You might hear a few songs, but you don’t get the full experience until you buy it.

This week’s letter is all about taking a leap of faith into preorder campaigns.

Dear Donna,

How do I use PR to drive pre order sales?

– Building Buzz in Boston?

Preorder and crowdfunding campaigns are great ways for companies to introduce new products to market. It also allows early adopters to be part of a community and develop a feedback loop to refine the product in the future.??

Here is some wisdom for those eager to get the product word out before it ships:

When executed effectively, preorder campaigns can propel a product to success, fostering anticipation and loyalty among consumers. However, navigating the nuances of preorder campaigns requires careful planning and strategic execution. To maximize the impact of preorder initiatives, businesses must adhere to a set of do’s and don'ts tailored to the modern consumer landscape.

THE DO’S:

• Be Hyperfocused: Start teasing your product well in advance of the official launch date. Leverage social media, email newsletters, and teaser campaigns to pique curiosity and be hyperfocused on capturing the attention of your target audience.
• Build a Great Team: Hire the most experienced product and industrial designers, SEO, marketing, and PR teams you can in bringing the product to market. Ask for case studies on prior success to ensure the team is ready to go from zero to sixty.
• Make PR a Priority: Provide exclusive incentives to incentivize preorders, such as early access, limited edition bonuses, or discounted pricing. Make PR a priority by ensuring these incentives are genuinely valuable and resonate with your target demographic. One example is the preorder of Damon Motorcycles at CES 2020. Read the case study here. You don’t always have a demo product, but when you do, make it available for editors to see firsthand or on video.
• Set Clear Expectations: Be transparent about the terms and conditions of your preorder campaign, including the expected delivery timeline, refund policies, and any potential risks or limitations. Clear communication builds trust and minimizes the risk of customer dissatisfaction.
• Create Urgency: Implement time-limited offers or limited quantity deals to create a sense of urgency and encourage customers to act quickly. Limited-time promotions can drive impulse purchases and spur early adoption of your product.
• Optimize Your Website: Ensure that your website is optimized for seamless preorder transactions. Streamline the checkout process, provide multiple payment options, and optimize for mobile devices to maximize accessibility and conversion rates.
• Video Storytelling: A great video narrative can help illustrate a product in a real world setting, especially when the product is a prototype. Showcasing the product in a “day in the life” story will draw the user into the experience of being a user. ? See Monarch Tractor’s case study as an example.
• Build a Great Community: Crowdfunding platforms have loyal communities, but you also need to curate your own targeted list to expand reach. LinkedIn is a great place to build a list and you can also buy lists from media outlets or brokers.
• Engage Your Audience: Foster engagement with your audience throughout the preorder period through interactive content, behind-the-scenes updates, and user-generated content campaigns. Encourage customers to share their excitement and experiences with your product on social media channels.
• Track and Analyze Performance: Implement robust tracking mechanisms to monitor the performance of your preorder campaign in real-time. Utilize analytics tools to measure key metrics such as website traffic, conversion rates, customer demographics, and engagement levels across various channels. Analyze this data to identify trends, uncover insights, and make data-driven decisions to optimize your campaign strategy for maximum effectiveness. Tracking and analysis empower you to iterate on your approach, refine targeting efforts, and allocate resources strategically, ultimately enhancing the success of your preorder campaign.

Recently LMGPR did a Kickstarter campaign for Palm Bin. The 60-day campaign goal was $7,500 and the campaign result was $40,000 validating the market interest in the compost collector and strengthening the case for further funding and partners. You can see the campaign here.?

THE DON’TS:

• Overpromise and Underdeliver: Avoid making unrealistic claims or promises about your product's features, capabilities, or delivery timeline. Overhyping your product can lead to disappointment and erode trust in your brand.
• Neglect Customer Service: Prioritize customer service and support throughout the preorder process. Respond promptly to inquiries, address concerns or issues proactively, and provide clear channels for communication to ensure a positive customer experience.
• Underestimate Demand: Conduct thorough market research and demand forecasting to accurately gauge the demand for your product. Underestimating demand can lead to inventory shortages, delayed shipments, and frustrated customers.
• Ignore Feedback: Actively solicit feedback from customers during the preorder period and be receptive to their suggestions or concerns. Use this feedback to iterate on your product, improve the customer experience, and build long-term relationships with your audience.
• Rely Solely on Preorders: While preorder campaigns can be an effective strategy for generating initial sales momentum, they should not be the sole focus of your marketing efforts. Implement a multi-channel marketing strategy that encompasses social media, email marketing, content marketing, and influencer partnerships to reach a wider audience and drive sustained interest in your product.
• Forget About Post-Order Engagement: Maintain engagement with customers beyond the preorder phase by providing regular updates on the status of their orders, offering post-purchase support, and soliciting feedback on their experience with your product. Building a loyal customer base requires ongoing communication and relationship-building efforts.

The choice is yours when it comes to crowdfunding. You can do a preorder campaign on your own product website or you can use community platforms like Indiegogo, Kickstarter or StartEngine.??

For more insights on creating great stories take a listen to:?

The Common Creative - Donna Loughlin – The Creativity Before It Happened

Need help promoting your preorder campaign? Schedule a free office hour consultation with Donna today at [email protected] to see how LMGPR can make your campaign a successful one.