💡 How to Build a Waitlist and Boost Demand for Your Business
By Maya Kyler on April 23, 2023
Our tips and guides for increasing leads, signups, and conversions for your Waitlist
As an entrepreneur, you've probably heard of the term "waitlist." It's a marketing strategy that businesses use to create exclusive demand for their product or service. Customers are more likely to feel a sense of urgency to purchase if they believe they are missing out on something special. So, how can you build a waitlist and grow demand for your business? In this article, we'll explore the different tactics and strategies you can use to build a strong waitlist and sign customers up for your business.
1. Create a Pre-Launch Campaign
One of the most effective ways to use a waitlist is to create a pre-launch campaign. This is a marketing strategy that involves creating buzz and excitement around your product or service before its official launch date. You can do this by offering sneak peeks, exclusive promotions, or early access to your product or service to those who sign up for your waitlist. This not only creates a sense of exclusivity but also helps you gauge interest and adjust your marketing and product strategy accordingly.
Social media is a powerful tool when it comes to building a waitlist. You can create a sense of FOMO (fear of missing out) by posting teasers, behind-the-scenes glimpses, and sneak previews of your upcoming product or service. You can also run a social media contest or giveaway, requiring participants to sign up for your waitlist and share the contest with their followers. Having people share broadly your Waitlist on Twitter, Reddit, Facebook, LinkedIn, etc. or directly with their friends via Email, WhatsApp, Telegram, iMessage, etc. not only helps boost your signups but also increases awareness of your brand. Here at Waitlist, over a million people have been referred by others, with the simple incentive of them moving up in line for making the referral. That's a powerful viral loop.
People are more likely to join your waitlist if there's something in it for them. Offering exclusive perks, such as discounts, free trials, or early access, can be a powerful incentive for customers to sign up. You can also use the attractiveness of those perks to gauge how appealing your waitlist is to customers. If you're offering great perks but nobody is signing up, then that's valuable feedback from your waitlist, telling you that you need to improve your product or service before its official launch. Conversely, if you're offering only a move up in queue on referral and your waitlist is exploding, then that's great feedback that users really want your product.
Email marketing is still one of the most effective ways to reach customers and drive sales. You can use your waitlist to collect emails and promote your upcoming launch, share sneak peeks, and offer exclusive promotions to those on your waitlist. Make sure to make your emails engaging and add value for your readers to keep them interested in your brand.
5. Keep your Waitlist Engaged
Once you've built a waitlist, it's essential to keep your subscribers engaged. You can do this by regularly sending them updates about your upcoming launch, sharing behind-the-scenes glimpses of your product or service, and asking for their input and feedback. This not only builds trust and loyalty but also keeps your brand top of mind, increasing the chances that they will convert when the time comes.
The key is to build lasting relationships and provide value
Building a waitlist can be an effective way to create demand for your product or service, but it requires a strategic approach. By creating a pre-launch campaign, leveraging social media, offering exclusive perks, building an email list, and keeping your waitlist engaged, you can create a sense of excitement and exclusivity around your brand. Remember, the key to a successful waitlist strategy is to provide value and build lasting relationships with your customers.