Leveraging Pre Order Launches for Private Labels – Vance Lee – Amazon Legends

Leveraging Pre Order Launches for Private Labels – Vance Lee – Amazon Legends – Episode #273

10/03/23 Nick Uresin

Join us for an insightful podcast episode with Vance Lee, an e-commerce entrepreneur and brand growth strategist with 13 years of experience. Vance’s journey began with Amazon FBA in 2015, and he’s since mastered crowdfunding and pre-order launch strategies.

Vance’s impressive track record includes raising over $7 million in successful launches. Two of his campaigns achieved “#1 Most Funded” status in their niches and ranked in the top 1% of crowdfunding projects ever.

Originally from Canada, Vance has embraced a nomadic lifestyle, exploring diverse cultures worldwide while growing his e-commerce brands.

Tune in as Vance shares invaluable insights into the world of crowdfunding, pre-order launch strategies, and how to effectively build and engage with your audience to ensure e-commerce success.

Listen now to learn from Vance’s experiences and elevate your e-commerce journey!

Chapters:

Takeaways:

Importance of Feedback: Pre-order launches are valuable for gaining feedback from potential customers. This helps in refining your product and addressing any issues before the official launch.
Building Relationships: During the pre-order phase, you have the opportunity to establish relationships with potential customers. This can help in building an audience and community around your product.
Funding Goals: Setting a realistic funding goal for your pre-order campaign is crucial. It should cover the necessary costs for your launch without being too high.
Quick Funding: Ideally, you should aim to reach your funding goal within the first 24 to 48 hours of the campaign. This can trigger algorithms on platforms like Kickstarter, leading to organic ranking.
Managing Inventory: Preorders can help sellers gauge demand for their products and manage inventory more effectively, reducing the risk of overstocking or understocking.
Early Bird Incentives: Offering early bird discounts or bonuses can motivate customers to place pre-orders, helping generate initial sales momentum.

Quote of the Show: In the world of e-commerce, a pre-order launch is essentially crowdfunding, typically done on platforms like Kickstarter and Indiegogo. It’s not a replacement for Amazon or Shopify; it complements them. This approach serves as a pre-launch strategy. The goal of a pre-launch is to understand market demand and reduce inventory risk.

Links:

Website: www.livemyplayground.com

Special Offer:

To get the FREE training guide, visit http://www.livemyplayground.com/legends

Ways to tune in:

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Amazon Legends Shorts

Title	Watch on YouTube	Watch on Facebook
Unveiling the Secrets of Audience Targeting for Amazon Sellers \| Amazon Legends Podcast	Click to Watch Copied to clipboard	Click to Watch Copied to clipboard
Cracking the Code: Audience Size & Engagement for Amazon Sellers \| Amazon Legends Podcast	Click to Watch Copied to clipboard	Click to Watch Copied to clipboard
Crucial Steps to Launching on Amazon: Crowdfunding & Pre-Launch Strategies \| Amazon Legends Podcast	Click to Watch Copied to clipboard	Click to Watch Copied to clipboard
Mastering Product Positioning: Amazon Legends Podcast	Click to Watch Copied to clipboard	Click to Watch Copied to clipboard
Unlocking Amazon Success: Unique Product Positioning Strategies	Click to Watch Copied to clipboard	Click to Watch Copied to clipboard

About the Host:

Nick Uresin is the Founder and CEO of ArgoMetrix, a New York based software and consulting company established in 2013. Nick is an Entrepreneur, Electronics, Communications and Computer Science Engineer, who has a passion for problem solving with technology. Nick built an online retail company with annual revenues of over $10 million. He developed his vision to organize the knowledge and technology he developed to become a large Amazon Seller and provide it as a service to manufacturers and sellers of consumer products. Let's get social! Follow us and get ArgoMetrix's latest updates on Twitter, Facebook or LinkedIn.

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Leveraging Pre Order Launches for Private Labels – Vance Lee – Amazon Legends – Episode #273