FOMO Tactics That Work CREATE THE URGE TO ACT
Do you remember the feelings you had when you were young and learned that your friends were all planning to get together during a time when you already had a prior commitment? You may have wondered what they would do, talk about, and what else you would miss out on. When you were taking care of the other commitment, your mind likely wandered as you thought about your friends again. This is the fear of missing out (FOMO) in action, and it happens more than we think. Over the past few decades, FOMO has become one of the best sales tactics across the country. When done properly, most people don’t know they’re allowing FOMO to drive their decisions. They think they’re capitalizing on a great promotion while it’s here, but subconsciously, they don’t want to think they missed out on something great or beneficial. Unsure of what this looks like? Let’s explore a few sneaky FOMO strategies that can lead to incredible sales and results. SCARCITY You see this often if you try to buy anything in demand from Amazon, Walmart, or other major retailers. They add a running count to the amount of stock left whenever their inventory becomes depleted. You hop on to buy something you want, see only three left in stock, and jump on the purchase to ensure you don’t miss out. You can do this with specific products, availability in workshops, or even limit the number of items you sell at a particular price point. However, the key to scarcity is honesty. If you say you only have three spots remaining in a workshop and continue signing people up, you lose credibility and gain a reputation for dishonesty amongst consumers. EXCLUSIVITY
exclusivity, and you can take it further by stating that some promotions are for VIPs only. Just don’t go overboard. Labeling every promotion as exclusive will cause people to ignore your messages. These need to be rare and valuable promotions! TIME-SENSITIVE Black Friday continues to be a big sales day for big and small retailers, but how do they maintain that consistency? It has nothing to do with the business or ongoing sale. Instead, people understand that Black Friday is a one-day- only event. They think they won’t get these sales again, even if they aren’t stellar. Mimic this method to get people to act with urgency when it comes to your sales. Host flash sales with super short time frames on your website and set deadlines for your promotions. CLOSE THE DEAL When working with a client on the fence, FOMO can be a powerful tactic to help them see clearly why they should make the purchase. Paint a picture of how your product or service could help them days, months, or even years down the road. Then, illustrate what could happen if they don’t get the product or service. Could passing on your product now cause future regret? By answering these questions for your client, you help them understand that they could be missing out if they don’t make a purchase. THE WRONG WAY TO USE FOMO When you complete a FOMO campaign properly, you
keep things ethical and honest. You remain transparent about sales deadlines, don’t create false scarcity, and provide your
customers with value while still hitting your sales goals. However, some business owners use FOMO to pressure buyers into taking action immediately, which is short- sighted. You want your customers to be happy with their purchase instead of wondering why they made it years later. Remember, sales tactics are all about providing continued success, not one-time purchases. When appropriately used, FOMO can help your business reach new levels of success.
Another way to trigger FOMO in potential buyers is to create exclusive promotions for your best clients. Do you have a loyalty program in place already?
How do you communicate with your customers? If you regularly send emails or text messages about upcoming events, sales, and promotions, consider labeling your clients as VIPs. This creates
2 | (410) 832-0000 | jwyatt@harrisonlawgroup.com
Published by Newsletter Pro • newsletterpro.com
Made with FlippingBook Ebook Creator