Harnessing the Fear of Missing Out During Small Business Season
How to get more sales through Fear of Missing Out
Years ago, when Black Friday was one day and not six weeks long, we suffered from fear of missing out (FOMO) when it cam to bargains. We felt (which was indeed the marketer's goal) that we had to buy at that moment or risk being charged more later. Rarely were we ready to purchase but we did so because we didn't want to miss the deal. FOMO is a powerful sales motivator, and the holiday season is one of the best times to leverage that tactic for extraordinary revenue. Here are some tips on how you can do just that. |
How to Get More Sales Through Fear of Missing OutTry these five effective tactics to drive more sales: 1. Limited-Time Offers:Create a sense of urgency by offering limited-time discounts or exclusive deals. Ideals include:
2. Limited Inventory:Anyone who remembers the 1983 Cabbage Patch Craze will remember these shenanigans and how a limited inventory can inflate prices and drive interest. (They were not cute dolls, but every girl born in the 70s was convinced she needed one.) Highlight the limited availability of your products to create a sense of scarcity. Consider these tactics:
3. Social Proof:Nothing powers social media channels quite like seeing other people in your stream enjoying what you want. "Listen" on the internet for mentions of you and your products / services and show potential customers that others are already enjoying your products and deals. "Everyone is doing it" is not only a reason to do something in high school but also a solid marketing strategy. Never has it been easier to convince others of this:
4. Countdown Timers:Add a sense of urgency and excitement (aka "Get it in your cart NOW!) by displaying countdown timers on your website and social media. These timers can count down to:
5. Exclusive Email Offers:Build anticipation and encourage repeat purchases by offering exclusive deals and sneak peeks to your email subscribers. They'll love:
|
Remember, when using FOMO marketing, it's important to be genuine and transparent. Don't create false scarcity or pressure customers into buying something they don't need. You want to drive sales but not at the risk of the customer relationship. Instead, focus on creating a positive and exciting experience that encourages them to engage with your brand and become loyal customers.
|
Here are three bonus tips for using FOMO marketing during the holidays:
By leveraging FOMO effectively, you can drive more traffic, boost sales, and make this holiday season your most successful yet while building excitement among your audience. |
Powered By GrowthZone