Human beings tend to, for the most part, have a fear of missing out. FOMO, as some like to say. Did you know that businesses can actually leverage this in their marketing strategies?
Businesses can use FOMO to drive existing and new customers towards their products and services. When someone perceives a product as uncommon, they’re immediately drawn towards it because they don’t want to potentially miss out on the chance to try it.
This feeling is what your brand needs to continuously leverage. In this article, I’ll explain 3 genius marketing techniques to boost your brand’s sales by using FOMO marketing.
1 – Set a time limit
Putting a product or service out on the market for a limited time is an incredible marketing strategy. It helps draw attention and immediate action towards selling.
If your product is unlimited, it is very likely that it won’t sell as much. This is because there’s no urgency attached to it.
There is so much choice available to each and every consumer. If given sufficient time, consumers might find a better product than yours or realize that they don’t need it.
On the contrary, when you put something out there and say it’s available for a limited time, your customers will have no choice but to either act immediately or regret not being able to purchase what you’re selling.
FOMO = urgency = customers making firm decisions = more sales for your brand.
2 – Use Testimonials
Social proof is a fantastic way to create awareness of your product or service’s value. By including testimonials from previous customers, you can show potential customers the value of what you offer.
If your product or service is new, you can ask friends to write a testimonial for you. Again, remember that testimonials can be completely anonymous, so using this method of testimonial collection won’t hinder your offering’s perceived value.
3 – Quote Celebrities
If your brand is selling t-shirts made from the finest Egyptian cotton, you can find quotes from celebrities and other famous people who’ve commented on Egyptian cotton. You can then use those quotes to validate the effectiveness of what you’re selling.
This is a cheeky way to market, but it works because people love to buy things their role models buy. The best part about this is that you don’t need to blow your budget looking for influencers or celebrities to promote your products and services. You can just find what is already out there and use it to your advantage.
The Bottom Line
Create a sense of urgency or attributing your product or service to something that customers already associate themselves with. When you do this, FOMO marketing will boost your sales in almost anything that you sell. Try using marketing strategies centred around FOMO today.
Remember that customers aren’t looking for new things to buy – they’re looking for new ways to solve their own problems.