Every person wants to find a great deal. We all want to be a part of something. When you use FOMO marketing, you are utilizing a powerful marketing technique that cuts right through the noise even during a very noisy time of year like the holidays.
FOMO means Fear Of Missing Out. You’re fighting for attention more than ever, and FOMO allows you to stand out in the crowd and convert more customers while they’re paying attention.
Here’s the catch… FOMO has to be used strategically. When a customer gets a better deal, it could upset the customer who missed out on the offer. Use FOMO too much, and you’ll drive away buyers. Here are a few of the ways we encourage FOMO at Grace & Lace.
1) Let Your Customers Know When Something Is In Demand
You have something that people love. Use that. Make sure your customers understand that those items are limited, and there is a high possibility that they won’t be coming back. We did this in 2018 with the Snow Day Pullover. We sold out, explained that we could accommodate a few more pre-orders, and capitalized on FOMO to drive more sales.
2) Create Offers With Firm Deadlines
Who doesn’t love a sale? If something is on sale forever, though, your customers will have time to talk themselves out of it. Offers that don’t last very long demand urgency and drive FOMO because if they wait too long, they miss out.
Here’s a next-level marketing tip: Occasionally re-open an offer for 24 hours to capture those who were on the fence. Use positive customer experiences with products featured in the sale to guide customers to take action before their last chance goes away forever. This can be a home run kind of idea during Black Friday and Cyber Monday.
3) Offer Perks For A Purchase
As of right now at GraceandLace.com, shoppers get free shipping on orders over $85. With other offers, we throw a freebie in with their order over a certain amount. Why? FOMO! This holiday is the perfect time to throw in a little something special if your shoppers meet specific spend criterias. It could be a gift card or a freebie, but, if done right, you’ll get them to spend more with you during the holidays and feel good about it too!
4) Tell Stories To Enhance FOMO
An old adage says: Facts Tell, Stories Sell. In this case, we want to leverage both to drive FOMO.
Fact: This denim is on sale for Black Friday Friday!
Story: One of our customers, Jenna, got these jeans with a top, and not only did she feel more confident, she told us that her husband complimented her outfit and told her to come back!
Jenna had to pay full price and still LOVED this product. Your customer now has the opportunity to create the same experience for less!
5) Give Them A One-Time Reward For Their Info
One of the most powerful things you can do in marketing is follow up with a customer. Offer them a one-time discount on the site or at the register for providing you the information and opportunity to do that. New customers are more likely to find you during the holidays because they’re looking for something for their friends, family, neighbors, or (really) themselves.