Building a waiting list for a minimum viable product (MVP) launch is a highly effective strategy that many successful startups use to create initial buzz, validate interest, and jumpstart their user base. However, there isn't much specific quantifiable data available about the effectiveness of waiting lists because it varies based on numerous factors such as the product, market, audience, and how well the waiting list campaign is executed.

Million Labs is changing this by collecting waiting list data from all our startups, the early data suggests that having a waiting list gives a startup a much higher success of MVP launch and initial traction. Even without empirical data, numerous anecdotal examples of startups have effectively used this strategy.

For instance, Mailchimp used a waiting list to validate demand before launching its new product, Google used a waiting list and an invite-only system when it first launched Gmail, and Dropbox used a waiting list combined with a referral program to boost its user base.

What is a Waiting List, and Why Does It Matter?

A waiting list is more than a collection of email addresses; it's a powerful tool for gauging demand, validating product-market fit, and building an engaged community before your product even launches. Companies like Gmail and Dropbox demonstrated how combining waiting lists with referral programs can exponentially grow user bases and create exclusivity-driven hype.

Whether you're a B2B or B2C startup, a waiting list can serve as the backbone of your pre-launch strategy. For B2B startups, aiming for 100 potential customers is a strong benchmark. For B2C startups, targeting at least 1,000 interested users is ideal.

8 Steps to Build an Effective Waiting List

Here are some recommendations for building an effective waiting list:

1. Create an Attractive Landing Page

The landing page is where you'll collect email addresses, so it needs to be engaging. It should explain your product and its benefits clearly and succinctly. Make it easy for visitors to sign up, with a simple form and a clear call to action. Use our Smart Landing Page service to create your landing page.

2. Offer Incentives

Give people a reason to join your waiting list. This could be early access to your product, exclusive features, discounts, or even merchandise. The better the incentive, the more sign-ups you're likely to get.

3. Leverage Social Proof

People are more likely to join your waiting list if they see that others are excited about your product too. Feature testimonials, endorsements, or the number of people already on the waiting list, if that number is impressive.

4. Use Social Media and Content Marketing

Promote your waiting list on social media and through content marketing. This will help you reach a wider audience. You could create blog posts, videos, or infographics that provide value to your audience while also promoting your waiting list.

5. Implement a Referral Program

A referral program can help your waiting list grow exponentially. Offer incentives for people to refer their friends, such as moving up in the queue or getting extra features.

6. Regularly Communicate with Your Waiting List

Once people join your waiting list, keep them interested by sending regular updates. This could be news about your product, helpful content, or simply a countdown to launch.

7. Use Paid Advertising

If you have the budget, consider using paid advertising to promote your waiting list. Target ads to your ideal customers to ensure you're attracting quality leads.

8. Test and Optimize

Try different strategies, track your results, and tweak your approach based on what works best. This could involve testing different landing page designs, incentives, or promotional strategies.

Success Metrics: What Does a Strong Waiting List Look Like?

Building a waiting list is a powerful way to validate your product idea, generate buzz, and acquire early users. By following these steps, you can maximize the effectiveness of your waiting list and set your startup up for success.

For a startup selling Business to Business (B2B) then a 100 potential customers on the waiting list is good. For a startup selling to consumer (B2C) then a 1000 potential customers on the waiting list is good.

In a Nutshell: Key Benefits of a Waiting List

1. Validate Demand: Gauge early interest to refine your product before launch.

2. Generate Buzz: Create excitement and exclusivity that attracts attention.

3. Build an Engaged Community: Cultivate a loyal audience eager to support your product from day one.

4. Streamline Launch Efforts: Start your launch with a ready-made audience, reducing the need for costly post-launch marketing.

Conclusion: Your Blueprint for MVP Success

Building a waiting list isn’t just a pre-launch tactic; it’s a strategic advantage. From engaging landing pages to effective referral programs, each step you take brings you closer to a successful MVP launch.

Million Labs’ expertise in waiting list optimization shows that startups with a strong waiting list outperform their peers. By following these steps, your startup can generate buzz, validate your product idea, and gain a competitive edge.

Ready to start? Leverage Million Labs’ Smart Landing Page service and take the first step toward a successful launch today.

Check more recommended resources to Start, Launch and Grow your SaaS:

• Building Your No-Code MVP: A Complete Guide to Launch Within the Next 60 Days

• Mastering App Scoping: The Only Guide You'll Need as A First Time Founder

• Launch to Lift-Off: Maximising Your MVP's Market Entrance