Marketing Psychology: Hacks to Get More Preorders on Your Shopify Store
Launching a new product or restocking a previous one is a big gamble for eCommerce businesses. Considering how rapid market trends and demand change, any update to the inventory could be an absolute hit or miss. And that’s why we often see Shopify stores setting up several campaigns to remain top of the mind for their target audience.
One such tactic we often see them dabble with is preorders.
But getting consumers who are accustomed to instant gratification to preorder a product that they’d have to wait for, is easier said than done.
That’s why in the post, we’re discussing a few marketing psychologies that you can use to increase the success of your preorder campaigns.
Quick recap: Why do Shopify preorders work?
Before we dive into actionable hacks, let’s explore why preorder campaigns are an effective strategy:
- Scarcity and FOMO - When something is limited or potentially unavailable, our brains assign it a much higher value. The anxiety of missing out on something ‘good’ compels us to act quickly on it.
- Exclusivity - Being first feels special. We love the idea of getting access before the masses, driving us to place preorders - think about every time Apple announces a new product.
- Anticipation - Waiting for a new product builds excitement and emotional investment, making the eventual purchase feel more rewarding. Think again about walking out of the Apple store as the first person to have bought the latest iPhone.
- Loss aversion - People are motivated to avoid missing an opportunity than to gain something new. When you launch a limited-time preorder campaign, you leverage this bias.
Also read: Complete guide to Shopify preorders/ presales
5 proven marketing psychology hacks to boost Shopify preorders and examples
Now let’s discuss the ‘how’ behind the ‘why’ above with marketing psychologies that leading brands have been using for years:
1. Scarcity method
Scarcity is one of the most commonly used and effective psychological triggers in marketing. When consumers perceive a product as scarce, its perceived value skyrockets. For example, using phrases like “limited preorders” or “only 50 units available” can create a sense of urgency around the product. Here are some ways to implement this:
- Display real-time stock counters on your product page
- Set clear limits - not too low, not too high
- Use countdown timers to show when the preorder window closes
- Set up STOQ app to take preorders and to notify consumers when the window opens again
2. Loss aversion bias
Loss aversion is the human tendency to strongly prefer avoiding any losses - even when it is over acquiring gains. Preorder campaigns that highlight what a consumer stands to lose rather than gain can trigger this mentality, dramatically increasing the conversions. Here are some ways to implement this:
- Use microcopies like “don’t miss out” or “last chance to secure yours”
- Offer exclusive discounts for a limited time during preorder window
- Clearly communicate the special perks or pricing the consumer may miss
3. Anchoring heuristic
The anchoring effect refers to our tendency to rely heavily on the first piece of information we see about something of our interest. While shopping online, this refers to product pricing, quantities or offers that build the perception around a brand’s value for us. Here are some ways to implement this:
- Show original pricing next to preorder discounts
- Use multiple-unit pricing or set purchase limits to encourage higher order values
- Highlight how many people have preordered to create social proof
4. The timer effect
Countdown timers have been a go-to tactic for conversions. They create a visual and psychological cue that time is running out, triggering FOMO and prompting immediate action from consumers. Here are some ways to implement it:
- Add a countdown timer to your preorder product page
- Send SMS and emails with “x hours left to preorder” reminders
- Use timers for special preorder bonuses or discounts
5. Exclusivity
During the time of mass trends, people crave exclusivity. It’s human nature to want what others can’t have and by making preorders exclusive, you can amplify demand and loyalty. Here are some ways to implement this marketing psychology:
- Use microcopy like “members only”, “invite only” or “get it before everyone else”
- Offer early access to subscribers or your most loyal customers
- Create a “VIP preorder list” or “insider access” for those who sign up
A good example is that of OnePlus. They build massive hype for its first smartphone by opening preorders with an “invite only” logic. This attracted 25 million website visitors and led to the sales of 1 million units.
Also read: 8 best examples of high-converting preorder landing pages
How to handle out of stock preorder products
Now when you tap into consumer psychology for campaigns, you may run out of stock before the actual launch. Instead of losing momentum and hence future customers, turn this into another opportunity for engagement and future sales. Here’s what we recommend to brands using STOQ:
- Communicate clearly - Let visitors know when the product is sold out due to high demand and if/ when a restock is scheduled.
- Use the ‘notify me’ button - Let interested consumers sign up for notifications when more units become available via email or SMS.
- Display social proof - Highlight the number of units sold, what customers are saying about the product, media mentions and more to reinforce the trust in the value of the product.
- Automate alerts and follow-ups - Instantly notify consumers via email, SMS or push notifications when preorders or out of stock products are available again. Remember to set up follow-up messages too.
- Measure the performance - Track which products are most in-demand and optimize your inventory planning accordingly.
Also read: How to manage preorders across multiple locations
Conclusion
Preorders are more than just a sales tactic.
They’re a powerful way to build hype, validate demand and generate revenue before the product even launches in the market.
By integrating marketing psychology principles like scarcity, urgency, loss aversion, exclusivity and others into conversion rate optimization tactics, you can create preorder campaigns that can dramatically boost your sales.
Launching a new product soon or want to test market demand for an upcoming collection?
