60% of sales are driven by FOMO marketing.
The fear of missing out, or FOMO, directly exploits a flaw in traditional human psychology.
Because of the way our brains are wired, we fear missing out on great opportunities and taking advantage of them to the fullest.
This type of trigger-based marketing, known as FOMO marketing, is used by marketers to promote their brands and products.
On ordinary days or special occasions, you can use FOMO to grow your customer base and increase sales. Before we reveal the best FOMO strategies, let’s take a closer look at what it is.
What is FOMO Marketing?
FOMO marketing is a type of marketing where you take advantage of the consumer’s desire to seize every opportunity.
Its copy is structured to encourage customers to buy on the spot rather than later regretting their inaction.
We are creatures who avoid taking chances, so it works.
Risk avoidance in the context of purchases refers to our apprehension about investing our money in something that might not live up to our expectations.
However, by avoiding risks, one leaves themselves open to regret in the future.
Let’s take the example of wanting to buy a watch and having an idea of what it ought to look like.
Your FOMO will increase if you unexpectedly come across a Facebook advertisement for a comparable watch that offers a discount.
Perhaps you weren’t all that interested in buying it, but just by seeing this advertisement, you’ll be forced to give it some thought.
This exact feeling of panic is what FOMO marketing seeks to elicit.
Here are some strategies for increasing your sales using FOMO marketing now that you are aware of what it is.
10 FOMO Marketing Techniques to Boost Sales
below are ten of the best FOMO marketing techniques you can use to boost sales, whether online or offline.
1. Set an Expiration Date
A deadline must be established for FOMO marketing to work.
Since we are raised to respect deadlines, we are constantly under pressure to do the right thing.
This is valid when we are deciding what to buy as the clock is running out. As a result, we frequently make impulsive purchases.
Do keep in mind, though, that the deadline you set must be unchangeable.
Your customers will become accustomed to the fact that the deal will remain available after expiration if you keep extending it.
Amazon excels at using this strategy for marketing.
They post “Deal of the Day” deals that are valid for 24 hours. You must purchase it during that time in order to take advantage of the offer.
2. Use Social Proof
FOMO can be induced by social proof.
To make the most of it, you must know when to use it.
The best time to use social proof is when customers are about to make a buying decision at the end of the sales funnel.
People occasionally only require social proof before making a purchase.
Posting and sharing customer testimonials on your social media pages is a fantastic way to achieve this.
People are more likely to buy from you when they read about other customers’ positive interactions with your brand.
Similar to this, you can display who is currently making purchases from you using social proof notification tools like TrustPulse.
Visitors to your website who see that you have customers will want to buy from you as well.
3. Use Influencers
Onboarding influencers or famous people can be a great way to promote your company’s name and goods.
You can use their product-related quotes to support your FOMO marketing campaign by posting them on your website.
Combining the two marketing strategies can significantly increase your sales.
Influencers will boost brand recognition, bring in more visitors and leads, and you can use their message to boost sales.
The best platform for influencer marketing is Instagram. 79% of marketers say that it was their most important channel.
Additionally, it has fairly low influencer rates. With a small budget, you can use this to market your product to a huge audience and generate FOMO.
4. Market Product Bundles
Many industries use product bundles to increase upselling.
You also offer customers additional complementary goods when they purchase a product from you. They are cheaper when bought in a package.
When consumers buy bundles from brands, they receive discounts.
Add a countdown clock to this to make it a FOMO marketing combination.
You can encourage customers to buy these deals by placing a deadline on them.
5. Use FOMO on Many Platforms
In order to reach all of its target consumers, every brand must use an omnichannel marketing strategy.
You can take advantage of the fact that different social media platforms are preferred by users when interacting with brands.
You can inform a channel’s audience that you will only be releasing exclusive content on other channels.
They may decide to follow you or sign up for other channels as a result of the FOMO created by this.
By using this technique, you can use FOMO to grow your subscriber and follower bases across multiple channels.
6. Improve Your Copywriting Skills
In FOMO marketing, how you present your message to customers matters greatly. Your words should convince your target audience that they need to buy from you right away.
Therefore, you must create messages that give the impression that time is running out and they may miss out on the offer. Your messages can make your prospects feel FOMO by using powerful verbs.
You can say things like:
- You’ll miss this offer…
- This is your last chance to buy…
- Time’s running out!
- Last few spots left…
The audience needs to be compelled by your message to act right away.
Make them feel as though they will regret their decision to not act if they don’t do so right away.
7. Use Competitive Spirit
While we dislike losing out on great opportunities, we also detest the idea that someone else might take advantage of us.
You can capitalize on this competitive nature to increase your FOMO.
A great way to do this is to demonstrate that other people are also interested in the products you are.
On the one hand, it provides social proof that the product is effective and has a large audience. On the other hand, you experience a sense of competition from a sizable crowd to obtain the product.
This might encourage you to buy on impulse.
8. Highlight Missed Opportunities
You should think about showcasing all the opportunities that your customers missed in order to boost FOMO marketing even more.
They’ll start feeling anxious once they realize how much they’ve lost simply because they were late or didn’t call right away.
They may be pushed to act quickly so they don’t miss out on other opportunities by this anxiety, which is nothing more than FOMO.
This alone can occasionally be enough to push someone over the edge.
9. Design Limited-Issue Lead Magnets
Who said lead magnets had to stay the same throughout time? You can switch them up while utilizing FOMO marketing.
Let’s say you’ve produced a stunning infographic with a ton of useful data for your audience. Promote it as a limited-time lead magnet that your audience can only get if they take action by a specific deadline.
Although we’re using FOMO marketing to generate leads here rather than actual sales, the principle is the same.
By offering them something they can’t afford to miss, you can encourage people to get past the resistance to sharing their contact information.
10. Use User-Generated Content (UGC)
When it comes to FOMO marketing, social proof, endorsements, and influencer quotes are all great but don’t forget about your audience.
You can use it to generate more FOMO than ever before if your followers are willing to create content about your brand.
Even though people pay attention to random strangers who also happen to be consumers, celebrities, and influencers, they tend to listen to their friends and family more.
The recommendation is even more valuable when a member of your audience produces user-generated content and shares it with their friends.
To encourage your audience to generate UGC that you can use for FOMO marketing, think about holding a contest or giveaway.
Conclusion
As we previously discussed, the very foundation of FOMO marketing is instilling a sense of urgency in the minds of consumers.
By offering ongoing promotions or using social proof, your marketing campaigns should create a sense of missing out.
If missed, it should demonstrate everything they would stand to lose and should leave the audience with the impression that they are always in a race against time.
