Pre-Selling, as the name suggests, is a process of selling a product or a service even before it exists in the market. In the process of Pre-Selling, one needs to have a proper plan and strategy to bring out the best value to the marketplace.
Preselling can get your idea/product get tested in the market as you will come to know the customer’s response to your product before launching.
Pre-selling lowers your risks as a start-up or as an established entrepreneur and at the same time gives learning and exploring opportunities in the market. It teaches you how to stay intact with the customers, understand the actual needs of the community and in turn the need for your product.
Moreover, it gives you financial assistance which in turn makes you more focused on product development and to provide the best possible service to your buyers. This plays a crucial role as you shift your focus from “Idea” to “Delivery” stage and make the product more worthy.
There are 3 basic Stages of Pre-selling:
- Product Idea/Invention- The first and the most important requirement, in this stage you have to come up with an idea, it can be an artwork which you wish to sell or a product that solves an existing problem in the society, or an innovative or unique product that has not yet been tested in the market
- Audience Building- In this phase, you promote your product or its prototype to the wider audience and take their feedback. This is the best time to register your product with a Pre-selling platform like Crowdpouch which would help you to reach the target customers by marketing your campaigns and the product. Pre-selling platforms also assist in getting initial orders for the product. This also helps to get the initial investment required to develop or manufacture the promised product whose delivery is done on some later date after getting the order.
- Product Launch- After getting enough responses/orders, working on the product feedback, and successful product development, the product is ready to be launched and delivered to the customers who showed their interest and trust towards your product.
To make your business secure and consistent in the marketplace, to research new market developments, to innovate some new ideas and to give real value to society, pre-selling is the best possible method to follow.