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FOMO is usually associated with advertising, where words like “last chance” or “hurry up” and a countdown timer are always present. But in reality, FOMO is everywhere - and even the price tags in your local grocery shop can make you feel like you've missed an opportunity if you don't buy tuna on special.
In the new Promodo material, we will tell you how to use the FOMO effect in various marketing channels, create good copywriting and motivate consumers to make a purchase thanks to a great offer.
FOMO (Fear of Missing Out) is a feeling that a person gets when it seems that “something is passing by”.
The term FOMO first appeared in 2004, when researcher Patrick McGinnis used it in his material for Harvard Business School. However, it was with the development of social media that FOMO became a real trigger for the mass audience. After all, FOMO causes the fear of being “out of the loop.”
We can feel FOMO while scrolling through social media, when it seems like something interesting is happening around us, and you stay away.
The media, social media, and brands broadcast to us creates a FOMO effect that makes people act emotionally.
In marketing, FOMO works as a missed opportunity syndrome. It triggers an impulsive mechanism of action in the minds of consumers - a person doesn't just want to buy a thing, he or she is afraid of losing the opportunity to get it. Therefore, advertising with limited offers, exclusive discounts, or “only for subscribers” is more likely to attract attention and motivate people to act quickly.
Another reason for the popularity of FOMO is its versatility. It works in all areas: from fashion eCommerce to meal delivery advertising, and travel offers. And with different tools - it's not just retention marketing, but also social media engagement, launching marketing campaigns, or even creating communities and trends that will make consumers want to be involved.
Black Friday is FOMO. After all, businesses create unique offers for a short period of time, and if they don't take advantage of them, consumers risk losing the chance to buy the desired product at a discount. Limited collections are FOMO because they are exclusive products produced in limited quantities. You either buy it now or lose this opportunity forever.
There are many examples of businesses using the missed opportunity syndrome. So let's take a closer look at the techniques that can be found most often in marketing.
Time limits are a classic of FOMO marketing. If a person knows that he or she has a lot of time to think, he or she postpones the decision, but when the chance to buy a product (or make a dream purchase at a discount) is about to disappear, he or she feels a sense of urgency and the desire to act.
Such promotions can be seasonal, timed to coincide with a certain holiday or event, or more “sudden” when a brand announces a sale for a very short time, for example, 24 hours.
A timer is often used to visualize time-limited promotions. You can add it to your website as a pop-up, in your newsletter, or even on social media.
Research shows that the way a timer is used has a different impact on people. For example, it is better to present the time until the end of the promotion in hours instead of days - people realize that there is little time left and do not delay their purchase decision. Also, the timer effect is enhanced for emotional purchases “for yourself” rather than purely practical things.
Large companies constantly use the technique of time-limited offers. But if it's a seasonal sale, a person may not feel motivated enough to make a purchase quickly, because there are many competitors offering other favorable conditions besides your business. Therefore, for FOMO marketing to work successfully, there are two important factors: a strong brand and a personalized approach.
To motivate a purchase, a technique is also used when a customer is informed about a limited number of products - for example, an email about a product that the consumer previously added to the cart or “saved”.
This approach works well when the information is true. If a customer sees that “one product left” and the same phrase appears again a day later, the brand's credibility falls. Therefore, it is important not to play the game of creating an artificial deficit, and to update availability data in real time.
This technique is successfully used by travel companies, because in travel planning, the opportunity to grab accommodation at a low price is a win. Therefore, to prevent the user from thinking too much, they emphasize the limited number of rooms or seats.
People tend to trust the choice of the majority, so if a product or service is in demand, you can highlight it with copywriting and retention tools.
Let's imagine that the promotion is valid for products that are less popular at the regular price and a discount is needed to lead the consumer to purchase. Or vice versa, the product is in high demand. The notification “Someone just ordered this product!” or “5 people are currently viewing this product” will let the customer know that they need to act quickly.
Another factor of human behavior that businesses can use for promotions is the feeling of exclusivity. Being among the first people to buy a product from a limited collection, placing an order quickly and getting a discount “for the first 100 customers”, or joining a loyalty program where offers are valid only for subscribers.
All these are different triggers that also influence consumer behavior and motivate purchases.
The FOMO effect is also the basis for most bonus programs and loyalty systems. They create a sense of additional benefits that can only be obtained under certain conditions: making a second purchase, using bonuses by a specific date, or taking advantage of a special offer. This motivates the customer not only to come back, but also to do it faster so as not to lose the benefit.
For example, Adanola offers several different offers to collect customer emails. And this is a win-win strategy, in which the customer increases brand trust and the business gains a loyal customer base.
Social proof is important.
People tend to trust the choices of others, especially if the recommendation is exactly what they need. Businesses can use this FOMO trick in a variety of ways: customer reviews, ratings, real customer stories. Counters such as “5000 people have already ordered this” or “This service is recommended by 98% of customers” also work effectively.
People also trust real reviews more than advertising. Photos and videos of satisfied customers, comments under posts, or even statistics. Try adding real reviews to product pages and see how they reflect on the conversions.
You may also want to read:
Sensory Marketing: How to Attract Customers Through Sight, Sound, Touch, and More
Mistakes in Email Campaigns: 10 Examples That Cost You Money and Customers
Referral Partner Program: How it Can Bring Sales and Money
Need a Queue of Local Customers? Use Local Service Ads
Audio Advertising: Basics of Digital Audio Ads
Like any marketing tool, FOMO can work both in favor of and against a brand. The key is to find a balance between stimulating demand and maintaining customer trust.
Increased conversion. A limited offer or an exclusive discount motivates customers to make decisions faster.
Increased engagement. Consumers interact more actively with the brand, follow promotions and subscribe to newsletters so as not to miss a profitable opportunity. For this purpose, we at Promodo often use gamification - depending on the methodology, we can give away gifts
Loyalty building. If FOMO campaigns are properly integrated into the brand's strategy, customers feel that they receive special conditions and offers.
Increase virality. Limited collections, bloggers' reviews of new products, or creating trends around products make consumers think: “Maybe I want this for myself?”. If you can reach your target audience with loyalty, people will start spreading your message organically or sharing recommendations. And this will only increase the FOMO effect.
Audience overload. If you use FOMO tactics too often, customers may get tired of the constant urgency and the brand will lose loyalty. FOMO should give the consumer the feeling that the brand really cares about offering favorable conditions, not trying to sell something. Therefore, we advise you to pay special attention to personalization and the previous history of interaction with the client, if any.
Lost trust. No one likes to be deceived. Artificial shortage of goods or overpricing before the promotion. If you create the illusion of shortage or deceive the audience, the brand risks a negative reaction.
Unpredictable reactions. Some users may feel stressed or irritated by the constant pressure, which will backfire.
FOMO marketing is not just about discounts or limited offers. FOMO is based on the human factor, so properly used, the missed opportunity syndrome helps businesses not only increase sales but also strengthen customer relationships. The main thing is to do it honestly, without manipulation, creating real value and emphasizing the uniqueness of the offers.
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