“Early bird” in marketing, refers to a promotional strategy offering advantages such as discounts or privileged access to individuals who commit to or purchase a product or service ahead of its official launch or operation.
The aim is to encourage early engagement, which can help generate buzz around the product or service, raise funds for development, or obtain feedback ahead of time to improve the offering. This technique takes its name from the expression “the early bird catches the worm,” meaning that those who act early often have an advantage over others.
While early bird offers may seem primarily beneficial to consumers, thanks to the extra savings or benefits, they also have many benefits for businesses. They enable them to build a solid base of committed customers even before the product or service is fully available. They also reduce the financial risks associated with launching new products or services, by guaranteeing a certain number of sales in advance.
Early bird offers aren’t just limited to the sale of physical products. Examples of where they’re also frequently used include event teasers, online courses, software, and more. For instance, the music festival industry often uses early bird offers. They often offer tickets at a discounted price well before the full line-up is announced, enabling them to secure revenue in advance of the event.
Implementing such a strategy requires good planning and management, as well as precise knowledge of the target market to ensure that the offer is attractive to the intended audience. The definition of the early bird strategy includes its use as an effective tool for generating engagement, stimulating sales, and minimizing financial risk.
In the crowdfunding space, platforms like Kickstarter often allow project creators to offer early bird rewards to early contributors. If someone launches a new watch brand, early backers might have the chance to get a watch at a discounted rate rather than at the regular selling price, as a “thank you” for their support.
