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

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! 

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. 

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

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