FOMO

Using FOMO to Drive Sales

Objective: Leveraging exclusivity and urgency to prompt quick action and boost profits.

You’re probably familiar with the idea of FOMO, or “Fear Of Missing Out.” It’s a proven method for persuading potential customers to respond in a timely fashion. Introducing a sense of urgency in your subject line or text message can be all it takes to make the next sale. But leveraging this trend is tricky. As much as buyers don’t want to miss out, they also don’t want to feel coerced or think they’ve been pressured into making a snap decision. Want to learn how to use this trend without turning customers away? Here are two tips to guide your digital strategy.

Tip #1: Reward Early Commitments. A common FOMO approach is to use phrases such as “don’t miss,” “almost gone,” and “only three spots left….” Used sparingly, this technique can prompt customers riding the fence to go ahead and join your workshop or buy that product they’ve been considering.

But what if you went in the opposite direction and rewarded people who signed up for an event or made the purchase first? Consider offering a Flash Sale for the first 20 customers to register for an upcoming workshop or purchase a product, for example. Doing so can generate a sense of exclusivity at the beginning of your promotion, not the end.

Tip #2: Set a Limit—and Live By It. When you offer a

limited reward, stick by your deadline. If you’re giving 25% off to the first 25 people to register for an event, don’t let the 26th person get the discount, too. If you’re offering a special promotion for 48 hours only, don’t extend the sale past that moment. Sticking to your limit increases the sense of urgency, and those who miss out will remember to act more quickly next time.
Remember, thinking an offer might slip through their fingers generates an even greater desire for that product or event. Used sparingly, FOMO is an excellent tool that can prompt customers to act, resulting in boosted sales.