By Syed Balkhi
Are you wondering how to use FOMO in your marketing? Or maybe you’re just wondering what FOMO actually is?
FOMO stands for the “fear of missing out.” It’s the feeling that other people are enjoying experiences—and you’re not. And in the case of a business selling a product or service, FOMO can make shoppers feel like they’re missing out on an experience that other shoppers are having if they haven’t bought it.
FOMO is a powerful feeling and it drives action. In fact, according to statistics, 60% of people make purchases because of FOMO, mostly within 24 hours. So, if you’re able to use FOMO as a psychological trigger in your marketing, it can help boost your sales.
Now that you know why FOMO is a powerful strategy for increasing revenue, here’s how to use FOMO in your marketing.
Because FOMO is all about being afraid of missing out on something, you need to create urgency. When you use urgency in your marketing, users will be more likely to take action quickly. This means shoppers will be more likely to make a purchase in order to avoid missing out on an awesome opportunity. For instance, think about an event company promoting an upcoming concert. They may say things like, “Tickets are selling out fast!” so people rush to buy a ticket before it’s too late. Your business can use urgency in a similar way to boost sales.
For example, you can create a limited-time sale. Then to promote the sale, in your email marketing campaigns, social media posts, and on your website, you can use phrases like “Don’t miss out!” “While supplies last!” and “One day only!” to create a sense of urgency. You can even add a countdown timer to your website or emails to show shoppers they only have a few hours left until the sale ends.
Another way to create urgency is by offering free shipping or a free gift with purchase for a limited time. When you create a sense of urgency, you’ll have shoppers rushing to the checkout.
Show that people are buying
If you want to boost sales, show off that other people are buying from you. When consumers see others buying your product, it will make them to want to get their hands on the product, too.
You can do this by displaying how many customers have bought your product or used your service. McDonald’s famously does this with its restaurant signs that say “Over 99 Billion Served” or “Billions and Billions Served.”
You can also show how many items you have left in stock, which creates FOMO and scarcity. When a shopper sees there is only a small number of an item left in stock, they’ll add it to their cart quickly to ensure they can nab it.
Even better—show real-time stats on your website. While users are browsing your site, a recent sales pop-up app can show that other people are buying items from your online store. Not only will a sales pop-up help boost sales, but it will allow you to display social proof and increase trust with your audience, which will help you generate more revenue in the long run.
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Display user-generated content
Sharing user-generated content, such as images or videos, is one of the easiest ways to show off the awesome experiences of your happy customers, build social proof, and create a feeling of FOMO. Post the content on your company’s social media accounts or website.
For instance, when someone posts a selfie featuring their morning cup of coffee from Starbucks, that’s user-generated content for Starbucks. Starbucks can share that user-generated content on its own platform to show followers that other people are enjoying their goods. And when their followers see other people enjoying their products, it makes them want to head to their nearest Starbucks, too.
Wondering how to get user-generated content? It’s actually not that difficult. Most of your loyal customers will be happy to take a quick photo if you just ask them. Simply create a social media post or conduct an email marketing campaign where you ask your customers for user-generated content. Don’t forget to encourage your audience to share their content online with a branded hashtag. This will make it easier for your business and your audience to discover user-generated content on social media.
Another great way to get more user-generated content is by running a contest. For instance, you could run a photo contest to get people to create and submit user-generated content. If your contest has an awesome prize, people will be more likely to take the time to create user-generated content for your business.
Consumers love feeling like they’re getting something special or like they’re part of an exclusive club. To avoid experiencing FOMO, tons of shoppers will act on exclusive invitations and offers. It’s the reason why people are willing to spend more money on VIP tickets to a concert or other event. So how can your business create a feeling of exclusivity?
There are a number of ways you can use exclusivity. For instance, you could create a loyalty rewards program similar to Sephora’s. Sephora’s Beauty Insider Program rewards VIP shoppers with points, free gifts, early access to products, and other benefits. You can create a similar VIP program where the more shoppers spend at your business, the more exclusive rewards (like discounts) they can unlock.
You can also create a members-only Facebook group. In this private Facebook group, members can get access to upcoming deals and events first. Using exclusivity in your FOMO marketing will not only help you boost your sales, but it will also help you develop customer loyalty.
FOMO isn’t about making your audience feel sad or jealous; it’s about encouraging them to take action before they miss out. Follow these tips and boost your sales like crazy.
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