Question

Anyone here experienced with running early bird offers ? (Ecom) I've been collecting emails for a launch in April as I want to do something whilst manufacturing is in progress . Was going to release an early bird price a few weeks before. Is this right or should I be going after an actual pre order sale now? Just curious how you guys play it. Many thanks :)

Answer 1

Not sure what niche or demand your product has but I definitely would have tried for what @crinkleroot suggested as it is the best way to validate how your product is going to sell  

Comments

@gensmer744 I have seen launches do a full early bird price so pay total now and get product by delivery date and I have also seen launches do a reservation for $1 to lock in deal. its no different the kickstarter or Indiegogo you are looking for some type of commitment so you have a projected amount of units you are going to have to have ready  

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@gensmer744 I did a email launched and learned the hard way. if yout list is very targeted it can work but if I did it again I would do it through a subscription bot. the one good thing about email is you can upload your list to FB and run ads to them and also create your LLA to target more folks like the ones who are interested in your offer but just relying on a good email opening rate will most likely not be high enough to blast off but would suggest sending an email once a week until them to keep your list engaged and warm  

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The $1 commitment is just to see who is willing to open their wallet and put their name on whatever your offer is. I know people who sell courses upfront $1k plus before the course is even created  

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@gensmer744 haha yes. but if your sales copy is done right many will be pulling out their cards  what niche does your product fall into? You may be able to use influencers to boost it  

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@gensmer744 awesome have you considered using a platform like kickstarter? Its work but its also a large audience if you do it right  

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@gensmer744 can appreciate that  I wish you the best of luck! Only way to figure out what works with your audience is to try  

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@gensmer744 kickstarter runs on a algorithm. the more traction you sent to your campaign the more they will show it to all their backers on the platform  

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@gensmer744 correct. you will have a link for your campaign that you can send your audience to

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@gensmer744 is your product a high price? What could you sell it to an early bird vs retail later? You could build out a sales page with option to purchase at early bird price now and be very upfront about expected delivery date or instead of building your own host it on Indiegogo as it is quick to get campaign approved

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I wouldn't say it's an obvious question but I like to buy when I'm excited and 2 months is a long period of time for someone to cool off so you will really have to keep them excited if they can only purchase in April  

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@gensmer744 just wanted to ad something to what dan said about the waiting period, if you look at how computer games are released, they do a great job of keeping anticipation high with a lot of teasers .  

Answer 2

Will be interesting to see the comments, i would like to learn more about pre-order techniques

Answer 3

Would go for pre-order sale to get stronger commitment and better test of price sensitivity and demand

Comments

@gensmer744 yuppp. just make it very clear throughout your funnel that it's an april launch

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Would never suggest a bait and switch (or not making it clear at all in funnel) bec you'd be screwed long-term when you launch if you can't sell it with them knowing it's launching on april, then the offer gotta be improved (the pre-sell offer at least)

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@gensmer744 oh i’d still run prelaunch stuff leading up to launch But i would take the opportunity to snatch buyers as early as you can even if launch is april Cash flow is king haha

Answer 4

Funnel would be Lead > one time offer to reserve at % of full price > one time offer to reserve at full price (discounted)

Comments

@gensmer744 yup

Answer 5

Yes. Launch it through email, SMS, and joint ventures

Answer 6

This is basically how many kickstarter campaign works. 1- capture emails, 2- tease people that they will get notice of campaign open so they can get the early bird discount (40%). 3. This causes momentum and others see it as an awesome deal and jump in; fearing they will be left out. This is how many campaigns strategize and get 30% funding in less than an hour. Use it as a psychological lure. It is basically the whole iPhone waiting in line when it comes out mentality. Use it your advantage. By capturing the emails early, you get a good feel for interest/demand to gear up for production.  

Comments

@rachael7070 great share!  

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@rachael7070 any ideas what sort of % of emails collected you would expect to convert and purchase when a Kickstarter campaign goes live? Thanks

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@archenemy Depends on the offer. I've seen 7, 000 collected emails resulting in 100% funding on day one / $1million dollar campaign (over 20 days). This was for a watch. It also depends on the campaign goal. If your goal is $100k (a low achievable one) and your per cost is $200, you need roughly 600 committed buyers before opening gate to meet goal on day one. You only need 50 buyers to break the 30% goal. People will more likely join a campaign that has the chance of meeting funding goal. The ones with the same exact scenario above with $500k funding goal may fail because it may take 2 weeks to achieve vs 1 day. It is all psychological.  

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@rachael7070 thanks, I’m looking to launch on Kickstarter March / April and running ads to collect emails at the moment so all your tips very much appreciated.  

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Engage them by asking them what they want. In Kickstarter/IndieGogo. You have to run a pre-launch campaign. The formula is 3-6 months before official launch. Use the emails as method to get your audience engage. E. G. Show them the manufacturing process and ask them (use CTA) to get them respond. E. G. Using my watch example. DO you like this color case? What freebies do you like with your purchase, a strap or a case? What sort of early bird special do you want? Run polls. Do anything to get engagement. Engage the potential buyers and make them feel like they're part of the journey.  

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@gensmer744 I’ve worked on a few watch KS as advisor. I’m In a few mastermind groups for watch brands. To answer your question. most definitely engage before settling on price. Here is why: With watches using as an example niche, retail can be anywhere from $200 to $1200 on KS. Many in there $500 range and the pricing is dependent on materials $30 Chinese quartz movement to a $400 Swiss Sellita movement . $30 guts can get you a $179 retail and is solely fashion driven - Eg Daniel Wellington/MVMT. $500 and up requires a niche and specific customer profile/taste. Even the crystal - mineral to sapphire can affect retail by $90. I’ve seen Prices swing $200 from initial $300 concept to $500 final right before launch and some going the other way as some got overly ambitious. No one is gonna buy a $600 no-name diver even if it has a Swiss ETA if the design sucks and is within spitting distance of a Tissot/low end Swiss mechanical spac. Those guys re-pivoted and went down and ended up using Citizen Miyota (Japanese guts) because they felt their backers couldn’t stomach the higher price point. I believe they ended going $300 versus $700. That was the correct move. They couldn’t create the brand narrative. They already tooled for the casing and dropping the project would have been disastrous. Then there are those who defied odds by using cheap parts and high price point . And they did it with a back story narrative and simply good design. They got their feedback from early backers through dialogue and engagement early on.  

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@gensmer744 that would great!  

Answer 7

We did like 350k in presale for a client recently. Feel free to DM