How to Use FOMO in Your Marketing Campaign
February 9, 2021
FOMO, or the fear of missing out, is a driving force for many consumers across North America. There’s a reason we all want to buy things when they’re brand new, and it’s not just for bragging rights. Missing out on the best new products and services puts consumers at a disadvantage, both in losing the use of the item in question and from a social standpoint.
Using the FOMO concept in your next marketing campaign could improve website traffic, ROI, and brand awareness. But, how do you incorporate it into your advertising without making it obvious? Here are a few tips on FOMO marketing you don’t want to miss.
Create Exclusive Content and Events
As a business the general rule is, the more the merrier. Especially if you’re trying to make money, sell foods, or provide services to the public. The more sales you make, the more money you earn, and so on. However, using the FOMO mind set, you have the potential to increase sales by creating the illusion that you’re limiting them.
When customers receive exclusive invitations, they feel special, noticed and as if they’re part of the brand. It encourages the urge to buy because they may not receive an exclusive invitation the next time around. A great example of this is seen through the Canadian book company, Indigo. Indigo has several chains of bookstores including Chapters, Coles, and Indigo. Every few months, Chapters sends invitations to certain rewards members to attend a special event held before or after hours at their busiest locations. Not every rewards member receives this invitation. Members are offered additional exclusivities, such as the first 100 guests receiving gift bags, guests who remain until the end of the event receiving a chance for a door prize, etc. Those who attend the events receive an additional 20% off their total purchase. These sorts of incentives work for a reason – FOMO.
Use Expiration Dates
Content of all shapes and sizes should have an expiration date. Why? Because it leads the consumer to believe that it’s of a limited availability. That means they may not be able to purchase it later and should act now. A business you see with limited availability items in the media often is David’s Bridal. The inclusive boutique offers women’s sizes from 0-30 in wedding gowns, bridesmaid dresses, special occasion wear and more. Some of the dresses carry pink tags which read, “limited availability”. This tells the customer that if they love that dress today, they should buy it today because it might be sold out next week.
Expiration dates apply pressure on consumers to buy before a sale ends as well. Posting clear beginning and end dates on all sales and promotions will kick start the buying process. This is an especially effective tactic before the holidays when items have an added level of importance and every dollar counts.
Provide Consumers with A Tally of Current Stock
Ecommerce has come a long way since its initial foray. Clothing stores, gardening supplies, food products and more can all be purchased from the comfort of home. With so much to choose from and all the time in the world to do it, many online shopping carts go abandoned. You can discourage abandoned carts by supplying customers with an inventory of current stock. Alongside each photo of the products you sell, supply the number of items available.
Travel websites are notorious for using this tactic. Rather than showing just how many vacation packages are available for a particular flight or cruise line, many of these sites show how many shoppers are currently looking at a particular package. This urges customers to act face or miss out. If there are 5 packages and 3 shoppers already have them in digital carts, there certainly won’t be any left tomorrow.
Make Your Products Famous
Okay, so we can’t all have content go viral, but anyone can make a hashtag. Designing a hashtag makes your products or services appear more hop, chic, and desirable. You can follow analytics tracking to see how many people are using and sharing the hashtag and use those statistics to improve future campaigns.
FOMO isn’t only missing out on opportunities to buy products of limited availability; it’s also missing out on being part of the “latest thing”. Social media makes a huge impact on “buyability”. If celebrities, Instagram influencers, and vloggers are using your hashtag, you can rest assured that your product will move off the shelves without worry. Of course, not every hashtag becomes popular, but it’s an affordable and simple marketing tactic, and it works.
Use FOMO Language in Your Content
Whether you’re updating a blog, posting on social media or editing your landing page, use content which enforces the FOMO mentality. Try phrases like:
- For a limited time
- This week only
- Deal expiring soon
- The next 50 shoppers
All these terms create a visual of something your customers might want, but soon won’t be able to have. The hope is that it drives them to want to get involved; whether this means sharing a contest on Facebook, buying from a Black Friday sale, or signing up for an exclusive event.
When designing your FOMO campaign, be sure to keep things light and positive. Yes, you want to encourage some urgency in buying, but you don’t want to appear desperate or forceful. A great way to keep customers feeling special and appreciated even if they miss a deal is to extend a one-time only additional discount to abandoned carts and the like. Hopefully these tips help improve your sales just in time for the holiday season.