You might not have heard about FOMO marketing to increase your sales just yet, but you surely have become acquainted with FOMO (Fear of Missing Out), before. I’m glad you are now researching about FOMO marketing because it can make an enormous difference in how you communicate your message to your customers and how to encourage them to jump on the opportunity to buy from you.
Now let’s read below about 10 examples of FOMO to increase your sales in this article and hopefully you will begin applying some in your marketing strategy.
But what is FOMO marketing?
Is messaging that triggers your visitor’s and target audience fear of missing out on something, encouraging them to act asap!
Most people will rather buy impulsively than regret passing on an opportunity.
Let’s imagine you’re planning to move out of your apartment into a house with a garden. You have been saving but you plan to execute your moving plans in the near future, but not necessary right now. Suddenly, you view a Facebook ad on a house that is everything you’ve dreamed of and is within your budget, and maybe even cheaper.
Maybe you haven’t completely committed into buying a house for yourself just yet, but you fear you might miss this chance.
Your FOMO is now in high gear.
But first, let’s take a look at some FOMO stats
- 56% of people are afraid of missing out on an event, status update or news, even if they don’t keep up with social media
- There are over 3 million active social media users around the globe
- FOMO is more prevalent amongs millennials
- 60% of them make reactive purchases, based on their FOMO
Now let’s look at some examples of FOMO marketing to increase your sales
- Set a Time Limit
Nothing can be quite as effective to nudge a person into making a purchase than a time limit. People have less time to really consider and argue whether to buy or not to buy, that is why giving your target audience an expiration time will induce them into buying from you.
Tip: don’t keep delaying your expiration time-just stick to it, so people really believe you. If you keep delaying your expiration time, you will lose all trust from your target audience.
A great example of time limit FOMO is Black Friday deals. People know that they get one day to take advantage of the massive discounts and sales on their favorite items. This is why malls around the United States are flooded on that day.
- Showcase People Buying from YOU
Live information on sales are not unusual, now a days.
This is an example of how SeedProd is showing its visitors that live purchases are being made and this will nudge the visitor into trusting your product or service.
Tip: SeedProd is using pop-ups using TrustPulse.
- Quote and Influencer or Celebrity
Using influencers and celebrities to endorse your product or service is huge for FOMO marketing. People follow them and trust them, and they will be more happy to imitate their rituals and lifestyle for a fraction of the real cost.
Using influencers or celebrities means that they will showcase what you offer on their social media platforms, but you can quote them and use their posts on your own social media platforms and on your website, for people that don’t necessarily follow them directly.
Tip: Always review influencer’s social media following and post engagement when thinking about collaborating with one. Also, make sure that your target audience and theirs match.
We talked about Social Proof in a recent post, and we discussed what a powerful marketing strategy it is.
One of the best social proof nudges is adding testimonials and client reviews on your site and social media platforms to increase loyalty within your target audience.
Just think about your own purchasing behavior:
- Do you buy from amazon without reading a product’s review?
- Will you still buy that product if it has less than 4 stars?