Growth Bite: Maximize pre-sales by offering a gift — not a discount.

It's common practice to offer discounted pricing for pre-orders, but this may leave sales on the table. If your launch is over a week away, opt for a gift instead.

Presales are great for two main reasons: First, you can make money before you even launch the product. And second, they can help you validate the product. To order early, potential customers will need incentive, so businesses often offer discounts. According to a recent study, though, it's actually up to 125% more effective to offer a free gift (e.g. ebook, course, etc.) when the launch is more than a week away, instead of offering a discount. After hitting the one-week mark, they're equally effective. So why is this? Because people value immediate rewards more than future rewards. Speaking of which, if you've got a more rational (rather than emotional) product, the study says it's best to keep your pre-order timeframe short.