In business parlance, FOMO or fear of missing out, is primarily a marketing strategy that takes advantage of a customer’s fear of being outside of the crowd, and that includes not having the latest products/services or not being a part of a popular event.
It is an excellent strategy for marketers to boost their sales by capturing targeted leads and enhancing their relationship with clients. If you are also trying this marketing strategy for your business, here are some of the top tips to help you build FOMO among your customers:
Create a Sense of Urgency
Building a sense of urgency is the most common way to create FOMO. It is also an effective strategy to make your customer explore your business and spend more on your products. Some of the strategies you can use here include a flash sale or highlighting the limited stock of your products.
For instance, if you are in the display business, highlight the limited stock of your top products, including flags, table toppers, floor decals and more. Further, you can add time-bound countdowns and urge your clients to make the purchase as soon as possible, so they do not miss out on great deals.
Use Product Bundles for Marketing
Using product bundles is an excellent upselling strategy used across various industries. It involves offering a complementary product to customers when they buy anything from you while giving them a discount for purchasing a bundle.
Combining this strategy with FOMO marketing by adding a countdown clock can boost your sales. All you need to do is put a deadline on the bundle deal to be able to push your target audience to purchase them.
Improve Your Messaging
Convey your message in such a way that it creates urgency. Using words and phrases, such as “time is running out”, “you’ll miss this offer”, and “only a few spots left” is the best way to make customers feel that they are going to miss out on great offers, which pushes them to buy from you.
The need; therefore, is to create urgent messaging which makes the customer feel the fear of losing out on great offers if they don’t act on time. Using strong words and phrases can be great for your messaging and create FOMO in your prospects as well as existing clients.
Quote Top Influencers and Celebrities
Onboarding top influencers or celebrities is another great way to promote your brand. When these famous personalities promote your products, you can quote them on your social media handles or website and establish an excellent FOMO marketing campaign. It is an effective strategy, and combining these two modes of marketing gives a significant boost to your overall sales efforts.
The most popular social media platform to use this strategy on and establish a powerful FOMO marketing campaign with is Instagram. Apart from being the most important social media channel from a marketing perspective, it is ideal for building a low budget FOMO marketing campaign.
Add Testimonials and Social Proof to Your Landing Page
If implemented the right way, social proof is one of the best marketing tools that you can use. In most cases, marketers try to aim for the bottom of the funnel customers, as this set of people are most likely to make a buying decision quickly. Adding social proof or testimonials to your landing page not only shows what other customers are doing on a website but also suggests scarcity.
Making such context visible helps generate both a sense of scarcity and competition among consumers, especially if you tell them that the item is limited in stock. It is an effective marketing technique and works better than a time limit because prospects will have no idea how long they have to make a purchase.
Make Last Minute Offers
You can also establish FOMO in your customers by making a last-minute offer that they won’t be able to refuse. This will be most effective when you make the offer as the customer is about to leave a product page or remove an item from their shopping cart.
Some of the best ways to do this are to use special pop-ups and give your customers a decent discount (15-25%) on the total purchase amount while telling them that if they don’t make the a decision immediately, they are likely to lose the offer.
Build Exclusive Programs
One of the best ways to establish FOMO is to generate a feeling of exclusivity in your target audience. When you make your audience feel that they’re part of an elite group, you increase the likelihood of them making a purchase. You can also encourage your loyal customers to join an exclusive loyalty program by showing them all the benefits they will receive for joining.
Remember that FOMO is essentially a competition, and the customers who are triggered when you establish FOMO are highly competitive. By highlighting how many people have already purchased from your website, you not only boost your sales, but build trust among customers.
Build FOMO with Images
There is nothing as powerful as images. People across all age groups respond to visuals. This is why creating FOMO marketing campaigns using the right images, online or on custom banners, is a great idea. Apart from targeted “miss out” messaging, let your background images do the talking.
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