Why You Should Launch a Waitlist For Your Product

In the startup world, there is pressure to launch a product as quickly as possible, and gaining early traction can make it or break it. Before and during development, many founders micro-manage the development process rather than using their energy to plan for their launch. Some founders wait until the product looks perfect to start looking for users or wait for the product to launch and then start telling people about it. This is where an early waitlist can help you not only gather a list of potential early adopters, but understand what people are excited about and how you can best solve their problems.

Let's delve into why establishing a waitlist is crucial and the benefits it brings to both developers and users alike.

Building Anticipation and Buzz

One of the main reasons to build a waitlist early (maybe even before you have designs and a single line of code) is to generate anticipation and excitement about your solution. By creating a list of interested people, you are already one step ahead to have a pull of potential early adopters who will be crucial during the product-market and iteration phases. This anticipation can translate into valuable word-of-mouth marketing, social media buzz, and even press coverage as people share their excitement with their network.

Validating Demand

A waitlist can be an incredibly helpful tool to help you gauge interest and demand for your product and problem you are solving. When users sign up, they are essentially saying they are curious or relate to your product/idea in some way. If the waitlist grows rapidly, it's a strong indicator that you're onto something valuable. Of course, just because people sign up for a waitlist doesn’t mean they will sign up for your product, or even open the website when you launch (looking at you, Gen Z). But that’s ok, and the waitlist would still provide you with very helpful insights.

Creating a Sense of Exclusivity

Humans are naturally drawn to exclusivity and scarcity. When you limit access to your product through a waitlist, you're tapping into this psychological phenomenon. People might sign up because of their FOMO (fear of missing out), which in return enhances the perceived value of your product.

Engaging with Early Adopters

Early adopters play a crucial role in the early times of your product. Use this opportunity to initiate a dialogue by gathering feedback, refining your product based on their insights, and cultivating a loyal user base that feels like part of your journey. This can be instrumental in driving long-term retention and loyalty.

Fine-Tuning the User Experience

If you limit your initial launch to just people on your waitlist (optional), you give yourself additional time to fine-tune the user experience based on early feedback. Whether it's addressing usability issues, fixing bugs, or implementing requested features, having a pool of eager users waiting in the wings provides valuable real-world testing opportunities before your official launch.

Leveraging Social Proof

As your waitlist grows, it serves as a powerful form of social proof. Potential users are more likely to trust and engage with your product when they see others expressing interest in it. A large waitlist can bolster your credibility and legitimacy in the eyes of consumers, investors, and the media, making it easier to attract additional attention and support. Waitlists serve as a great touchpoint when it comes to raising funding as well.

Dos, Don'ts and How to Start

1. Set up a simple landing page with a waitlist form using a website builder or using one of our services.

2. Even though all you need to collect is an email, if you want to create a particularly strong waitlist of serious users - you can add additional information like name, phone, attachments and more. By doing so you might not get as many easy sign ups, but the list you create might be stronger and more impactful.

3. Don’t set it up and forget. People sign up for waitlists all the time, and then they forget and never come back. Once you collect an email, start engaging with that person and don’t let them forget about your launch. You can run a newsletter with updates, set up UX interviews or create a Discord channel for all your fans to connect.

4. Especially if you are building a 2-sided marketplace, creating a waitlist is absolutely crucial. You don’t want to launch your product with 2 empty sides and start from scratch - people will quickly lose hope and interest if they see nobody else is on the platform. That’s exactly what the founders at Our Day did when they launched their wedding marketplace last year - allowing to kick-off the release with over 100 vendors signed up and open for business.

If you need help with your waitlist or have any questions about the development process, we would love to hear from you and help you out!