Have you ever experienced FOMO? For instance, maybe there was a cool concert that all of your friends were going to and even though you should have been saving your money or had to work early the next day, you quickly bought a ticket so you wouldn’t miss out on the fun. That’s FOMO, the fear of missing out, in action.
As you can see from the example above, people often make purchases to avoid experiencing FOMO. In fact, according to statistics, 60% of people make purchases because of FOMO, mostly within 24 hours. And experiences like concerts, events, and vacations are not the only types of FOMO. People also experience food FOMO, fashion FOMO, deals and discounts FOMO, and more. That means your business can use FOMO to encourage your target customers to take action and generate more revenue.
Here’s how to use FOMO marketing to drive more sales.
Create Urgency with a Limited-Time Offer
People love getting a good deal. That’s why deals and discounts FOMO is one of the most common types of FOMO; people will race to the checkout in order to nab a great deal before it’s too late. So, if you want to use FOMO marketing to drive more sales, promote a flash sale or limited-time offer. For example, a sale that only lasts 24 hours will have your customers rushing to buy before they miss out.
While a limited-time offer creates urgency in itself, don’t forget to use urgent messaging in your marketing to inspire the feeling of FOMO and boost the sense of urgency even more.
In your email marketing, social media posts, blog posts, and on your website, use phrases like:
- “Limited Time Only”
- “Don’t Miss Out”
- “Only 1 Day Left”
- “Hurry”
- “Last Chance”
- “While Supplies Last”
The urgency of a limited-time offer will trigger FOMO in shoppers and have them scrambling to add items to their cart and get to the checkout.
Add an Exit-Intent Popup to Your Site
Adding an exit-intent popup to your site is another great way to trigger FOMO in your website visitors and encourage them to take action. An exit-intent popup is able to track when a user is about to leave your website and send them a targeted message at exactly the right time.
For instance, if a user is about to leave your site without making a purchase, you can deploy an exit-intent popup with a message reading something like “Wait! Before you leave, sign up for our email list to get 10% off your next purchase. Don’t miss out on your chance to save!” Using a FOMO-inducing exit-intent popup like this on your site will help you turn abandoning website visitors into email subscribers and customers.
Show Off Your Happy Customers
When shoppers see with their own eyes that other people are happy customers of your business, they won’t want to miss out on having that experience for themselves. So, you need to show off your happy customers if you want to generate more sales.
You can show off your happy customers in a number of ways. One way is to display reviews and customer testimonials prominently on your website. 41% of consumers will be tempted to purchase a product with as few as 1 to 4 reviews. When a shopper sees the awesome results someone else got from using your product/service, it gives them the “green light” to buy and potentially have that same experience.
You can also show off your happy customers by simply displaying the number of customers you have. For instance, McDonald’s famously states on their restaurant signs “Over 99 Billion Served.” Or, you can display the number of shoppers who have purchased a particular item. Booking.com does something similar to this by showing how many people are viewing a property. This lets users know that they should act fast or else they’ll miss out.
Share User-Generated Content
Another way to show off your happy customers and trigger FOMO is by sharing user-generated content. User-generated content is any form of content, like images or videos, that is posted by users on online platforms like social media sites. For instance, when someone posts a photo on Instagram of their meal at a local restaurant, that’s user-generated content. The restaurant can then share that user-generated content on their own Instagram page. When people see that photo online, they’ll want to eat at the restaurant too.
So, ask your customers to share their user-generated content with you. It’s a win-win for both your business and your customers. Your customers get some love and exposure by being featured on your social media profiles or website and your business gets free content that generates FOMO and sales.
Use Exclusivity
People love getting something exclusive and feeling special, that’s why VIP tickets, VIP sections, and VIP memberships are so popular with consumers. But exclusivity also triggers FOMO. People who aren’t VIP members will want to become a part of the exclusive club and they’ll do whatever it takes to get access. So, create a feeling of exclusivity in your business by creating offers that are only available to certain people.
For instance, Sephora has a Beauty Insider Loyalty Program where shoppers get points for every dollar they spend. The more money they spend, the better rewards they get like free, full-sized products. You can implement a similar exclusive rewards program at your business to encourage your customers to shop more.
Another great way to create exclusivity is to start a private Facebook group. A private Facebook group where members get access to exclusive deals and content will help you generate more sales and increase customer loyalty.
Over to You
Effective examples of FOMO marketing are all around us, you just may not have noticed them before. But now that you know the true power of FOMO and how to use it in your marketing, your business can skyrocket your sales and conversions. Don’t miss out! Start implementing FOMO into your marketing strategy today and watch the magic happen.