Waiting list marketing is one of the most effective ways to drive steady, repeat customer engagement and revenue for your business. After all, who doesn’t love the feeling of anticipation? But how do you go about doing it? What are the different strategies you can use to build your waiting list? And which ones are best for your business type, niche market, and target audience? Let’s look at some answers to these questions.

What is a waiting list for?

A waiting list is essentially a pre-order system for future products and services. As the name suggests, you’re essentially collecting names of people who’d be interested in buying what you have in the future. That way, you’re collecting customers’ contact information (so you can follow up with them and even get refunds!) while also building your list.

How does a waiting list work?

Your list-building process will vary depending on your business type, but once you have a list, you send a series of welcome emails to the names on it, inviting them to join your business. You’ll first send out a “thank you” email to every client who signs up. Then, you’ll send subsequent emails, such as as welcome email, where you explain what your business does and why the service you offer is so valuable. Avoid building a long-term expectation that you’ll be ready to welcome new customers on a specific date. You’re far better off starting a list that can be easily scaled up as you start seeing results.

The benefits of having a waiting list

Higher retention: Having a waiting list will help you retain your clients since people who are on your waiting list are genuinely anticipating their next purchase.
Maintaining warm, long-term relationships with your clients.
Building trust and integrity with your brand.
Finding, and connecting with more clients
Driving repeat purchases.
Increased brand awareness.
Higher ticket costs.
Low risk.
No competition.
Higher margins.
Growing your business with ease.
Getting clients to pay you in advance.
Higher conversion rates.
A steady and reliable source of new customers.
Better conversion rates with higher-paying customers as you send more emails to the list.
Greater ROI from paid advertising campaigns as new customers are more likely to respond to the ads.
More profits from each client if you charge a fee for access to the list.

Why use a waiting list?

Long-term customers: Long-term customers are worth their weight in gold. But they are also notoriously hard to get. That’s why waiting lists are worth using. A waiting list gives you a steady flow of customers who are interested in your product or service but haven’t yet committed to making a purchase. Over time, these customers will likely become lifelong clients who buy multiple services from you.
More sale: If you have a one-time sale you can use a waiting list to collect names and addresses for a mailing list. Once you have their information, you can send emails about future sales, products, or service launches.
Community access: Some businesses use a waiting list to offer free books, content, and other perks to lure people into the waiting list. Once someone is on the list, they may be emailed a few times before being offered access to the product or service. This can be an excellent way to pull clients into the business or offer them discounted access to a community.
Customer referrals: You can also use a waiting list to collect clients’ names and addresses for customer referral programs.

How to build your waiting list

Find ways to communicate with your clients.
Remind past customers that they can sign up for your waiting list.
Encourage clients to sign up for your waiting list by sending them links to services they can reserve.
Send reminders to clients who have placed their names on your waiting list.

Which strategies are best for which audiences?

If you’re trying to build a waiting list for your new product, you may want to consider marketing your product on Instagram or Twitter. Since these platforms are often frequented by your target audience, they’re likely to see your posts. For example, if you sell supplements, you may want to post about your new product on social media and encourage customers to sign up for your waiting list.

Wrapping Up: Should You Build A Waiting List For Your Business?

Waiting list marketing is one of the most effective ways to drive steady, repeat client engagement and revenue for your business. While it is a great way to make money from your existing customers, waiting lists also provide an opportunity for new clients to get in on the action. When you have a waiting list, potential customers are kept in the loop about upcoming promotions and services. They will be interested in what’s going on with their favorite business and they will be eager to buy when it’s available. This is the best way to keep your business in front of clients and drive continual growth.