FOMO meaning is the fear of missing out and advertisers take the advantage of human psychology to wire in the minds that if not grab the deals, then they would be missing the lightning deal. These types of triggers to boost sales are called FOMO Marketing.
“60% of sales are driven by FOMO marketing“
Important FOMO Marketing Techniques to Leverage Sales
- Set a Time Limit
It’s a fact that whenever we see the deadlines it creates immense pressure. Setting the absolute timing that means which is not available after closure often leads to impulsive purchases. Amazon uses this marketing strategy by promoting it as ‘Lightning Deal of the day’ which lasts for 24 hours and to claim you have to buy it within a specified duration.
2. Use Social Proof
If using social proof in a vigilant manner then it can have maximum impact on sales. Ideally, social proof should be used at the end of the sales funnel when customers are all set to buy. A great marketing strategy is promoting reviews and testimonials in social media posts. When people read about positive experiences then they are more likely to purchase. Another FOMO technique is to let people know who are currently purchasing from you as this persuades them to buy too.
3. Add Celebrities or Influencers
When celebrities speak about your brand then that is an effective FOMO technique to promote in your marketing campaigns. You can also add Influencers to your marketing strategy as they will create reliability on the brand and can drive traffic leads and more sales. Instagram is an effective platform to get Influencers for your brand to promote your FOMO marketing campaign.
4. Promote Product Bundles
A marketing product bundle is again a great strategy and a good way of upselling products by offering complementary products. It wired the minds of customers that they will be getting huge benefits and discounts. FOMO marketing technique can be combined in the product bundle promotion by offering a limited period deal and driving impulsive sales. You can promote this campaign by sending push-notifications to potential customers and get the maximum advantage of sales during its promotion. Some brands offer this FOMO technique by conveying an advertising message that if you don’t purchase the item within a specific period of time you will be losing the deal with huge discounts.
5. Enhance your Message Delivery
The way message is presented in FOMO marketing marks a huge impact on the minds of consumers. The words should be convincing enough to create a sense of urgency and purchase them the time they see the campaign message at first sight. You need to craft the message that people feel fear of missing out and purchase instantly. There are certain phrases that can be used such as ‘last chance to buy’, ‘offer running out’, ‘last few minutes left’, and so on. These phrases will persuade the buyers to take the action instantaneously and failing can lead to regrets of not buying.
So, you can utilize these five powerful FOMO techniques to reach a larger audience and thus boost sales.