There are thousands of games you can play at any online casino. How do you decide which one to choose? For example, if you’ve found out that you have three days left to play a mobile casino game, wouldn’t you feel like missing out on an opportunity? Just this simple sentence can make you decide to play it among thousands of games. This tactic is called FOMO marketing, and it can be much more effective than you think. Below, we provide information on FOMO marketing tactics and talk about how you can increase your sales by using them.
What Is FOMO Marketing?
FOMO is short for “fear of missing out”. It is a marketing technique created by Dan Herman in 1996. However, the widespread use of the internet and faster access to information enabled the FOMO techniques to reach their real potential in the 2000s. Social media is particularly effective and important for FOMO marketing because this technique is based on giving the message to consumers that they are about to miss an opportunity.
If there’s an opportunity that can make your life better, more fun or more enjoyable, you don’t want to miss it. This opportunity can be anything: a TV show, a product, a concert, etc. FOMO techniques can be easily applied in any industry. It was implemented in video games in the early 2000s in the form of prizes that can be won for a limited time and has been very successful among young consumers. Nowadays, it can be used to make any product or service viral with the help of social media.
FOMO Marketing Techniques
We can better explain FOMO marketing techniques by giving some examples. Once again, these techniques can be used for almost any product or service, but they will be most effective in online stores.
Limited time product sales
Offering certain products or services for sale only for a short period of time will increase interest in them. Users tend to be more interested in products that are only available for a short time. This gives the impression that they might be the “only” owner of a specific product, which makes the consumer feel special.
Limited time offers
Promotions, such as price reductions, should only be valid for a certain period of time and this should be emphasized. In other words, for example, if you are going to make a 25% discount on the price of a product, you should specify that this is valid for only 24 hours. Campaigns without a time limit attract almost no attention. However, when a time limit is used, the consumers think that they are about to miss an opportunity and want to take advantage of it.
Show stock count
It’s always a good idea to display the stock count next to items for sale. The fact that the number of stocks is low and continues to decrease with each sale increases the consumers’ interest and their tendency to purchase the product. If stock is running out, the consumer feels compelled to make quicker decisions, and the sale is much easier to complete.
Use countdown tools
Using a countdown tool will have the same effect. If you have a campaign, you can use a countdown to highlight when it will end. Likewise, you can use it to show the remaining number of products. A countdown tool better highlights limited-time offers and grabs more consumers’ attention.
List out-of-stock products first
At first glance, this may seem a strange technique because it requires placing products that are out of stock on the main page. For example, you can add phrases such as “out of stock” or “sold out ” next to two of the five products on your homepage. Doing so makes the consumer think they missed an opportunity and encourages them to take advantage of the available campaigns. The consumer will take action not to miss other opportunities, and this will increase your sales.
Highlighting popular products
This is a classic yet effective technique. Consumers respect the preferences of other consumers. The popularity of a product indicates that it is preferred by a large number of people, and even this alone can increase the sales of that product. The consumer will not want to miss out on a product that everyone else has. If you have a large number of products in a particular category and you want to draw attention to some of them, listing them as “popular” will increase sales figures.
Using user comments
The reason why shopping sites publish user reviews is that consumers care about the thoughts and opinions of other consumers. They want more to have products that others like and prefer. Adding user reviews on the product page allows visitors to see what other consumers think and why they prefer them. This makes it easier for new consumers to make decisions. If ninety out of a hundred people who bought a product made positive comments, that product would be preferred more.