Question

Topic: Strategy

Ever Sold A "reservation" On An Upcoming Product?

Posted by justinw on 250 Points
I'm helping a company who has no inventory, and won't be able to get new inventory for 14 weeks. Despite this, they want to continue be selling reservations on the next shipment.

The product is a fitness product, about $800. The company is offering a $100 reservation fee. For reserving a unit, the customer will get $100 credit toward another purchase from the company once his/her unit arrives.

My trouble is deciding exactly how to sell a reservation on a relatively unknown product from an unknown company.

Any help is much appreciated.
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RESPONSES

  • Posted by CarolBlaha on Accepted
    The fact that they have no current inventory is not unusual. Turn a negative to a positive "preorder".

    Your question is a basic sales question. You sell this exactly as if you were selling a company known with a product well known. I think you are creating this road block in your own mind.

    Fitness isn't new. That is what you are selling. The classic hole vs hammer analogy. Which are you buying the hammer or the hole?

    My issue with offer? $100 credit for "another" product. If I am spending $800 for something, I don't expect to shell out more kaching for another related product.

    Some exceptions-- a bike and $100 credit to add accessories. maybe.
  • Posted by Gary Bloomer on Accepted
    Dear justinw,

    Following on from Phil's comment, how about the good old:

    "Our factory can hardly keep up with orders!"

    OR

    "The last time we ran this offer demand was SO great we're STILL filling orders!"

    OR

    "Our dedicated engineers have spent the last year significantly improving our last sell out offer and our manufacturers are now gearing up to meet demand. If the stories from our already highly satisfied customers are anything to go by, [insert glowing testimonials from happy customers here], we GUARANTEE you'll LOVE the results YOU'LL get from when you buy the NEW XYZ Method™ or you get a full refund AND you get to keep the product!"

    Again, these all help turn a negative into a positive.

    When this kind of approach is attached to desired outcome scenarios, by which I mean images of 'that was then, this is now': "Ninety days ago, Billy Bob was a lump of lard. Now he's buff and sexy" (with before and after photos and a testimonial)", it anchors an imagined future into long term memory.

    This powerful strategy propels feelings of want, not of the product, but of the new reality the product's use brings about. This works because you're giving the customer a vivid mental picture of their life with their RESULTS of having actually used the product.

    Further copy along the lines of:

    "Independent experts agree (image of a smiling Dr. Oz or other diet authority figure holding a clipboard), after just X number of days, users of the XYZ Method™ have firmer abs, trimmer thighs, and leaner legs. Just imagine the admiring poolside glances you'll attract, X days from now because YOU invested in the XYZ Method™!"

    ... adds to the imagined outcome because it anchors new memories in the prospect's mind.

    Although the copy above might SOUND clichéd, it offers a very powerful vision of an imagined future as a result of having used the product you're offering. This then helps to justify the pre order, which also helps build anticipation of the product's arrival, more so when your follow up communications offer some kind of count down to shipping day.

    I hope this helps.

    Gary Bloomer
    The Direct Response Marketing Guy™
    Wilmington, DE, USA

  • Posted by mgoodman on Moderator
    You mean I get to stuff my face with junk food for the next 3 months while I await my torture rack? Great! Where can I sign up?
  • Posted by Peter (henna gaijin) on Member
    Don't stop selling.

    I like the perception of pre-order over reservation.

    And agree that if you are giving a discount on a future product, this is only beneficial if people would want that future product. If you are selling to individuals, a single piece of equipment is enough. If you are selling to dealers or clubs, then they could sue more than one.

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