Get to Know More About FOMO’s Marketing Strategy
Ever heard of FOMO marketing strategy? Fear will be left and loss is a common thing that humans have. In other words, you definitely want to be part of the group and find out what’s actually happening. Well, this fear is called fear of missing out or abbreviated as FOMO.
FOMO is one of the many effective ways to increase your sales. Not surprisingly because FOMO’s marketing strategy using the fear of humans is afraid to be left behind.
Therefore, in this article we will provide the best way to implement an effective strategy to apply FOMO strategies to your business. Be sure to read this article until, huh!
Understanding Fomo Marketing Strategy
Fomo Fear of Missing Out is a psychological term that describes someone’s anxiety, anxiety, and fear when losing trends or things that are fun. Simply put, FOMO has the meaning of fear of losing.
To make it easier to understand it, you only need to see your social media. Why? Here’s an example:
Try your mind, how do you feel when you holiday photos of your friends on social media, while you have to be busy overtime every day. Do you feel jealous, anxious and scared at that time? Well, that’s what we call FOMO.
In the world of marketing, FOMO will utilize the feeling of fear of prospective customers so that they can make a faster purchase. Because if it’s not fast, they will lose the product. Whether it’s a product discount, a product that is sold in a limited number or other.
FOMO is actually not a new thing in the marketing world. Since before the internet technology has been a lot of famous brands that are using FOMO’s marketing strategy. But with the advent of the internet, this strategy becomes much easier and more efficient to do.
Effective way to apply FOMO strategy
Although it sounds easy, it doesn’t mean you can apply FOMO strategies freely in the internet world. If the way you do is wrong, your customers become unbelievers and your conversion rate can drop dramatically in a brief wakti. Therefore, the following are various effective ways to implement a good and correct FOMO strategy.
Give a limited discount time
Everyone certainly likes discounts or discounts. In terms of consumers, buying products at a cheaper price than the original price is a golden opportunity that should not be missed.
However, if the discount only takes place in a sync, it is certain that your prospective buyers will be more courageous to buy your product because they don’t want to miss a discount.
This type of FOMO strategy is the most popular in the world of marketing, and has been widely applied in the world of online business. Because this sales strategy has been proven to be able to increase sales in a very short time.
Real-time sales notification
Basically, humans always tend to follow what other people are doing. This condition is commonly called social proof and this condition also applies in the business world. Where customers will be more comfortable if buying products that other people have used.
Well, you can use social proof and Fomo simultaneously on your website site by using a plugin of a plugin called Sales Live Notofication. As the name suggests, this WordPress plungge will make a notification or pop-up message in real time on your site when a purchase occurs. That way, visitors will be more sure and want to make a purchase because they have witnessed their own transactions on your website. In addition, the plug-in also only appears in a few seconds. Even if you can instill a sense of matching your visitors.
Show the number of users or product buyers on your website
Another example of the application of social proof and FOMO is by displaying the number of visitors or buyers on your product on the website. This condition can show that many people already believe in your product. In addition, the prospective visitors will later be more curious.
Show that many others need your product
FOMO’s strategy has two crucial effects for your prospective customers. First, if they don’t buy as soon as possible, then they will lose the opportunity to buy your product. Second, if they don’t buy your product, then they will be more likely to get the same product at a very much higher price.
Both of these effects will encourage your customers to make decisions as soon as possible. Therefore, the more they procrastinate their purchases, then there is a possibility that they will be in the other person.
Limit the availability of your product
This FOMO strategy is almost similar to the previous points. The difference is, instead of displaying popular products, you actually display the remaining stock of the product.
In this way, your prospective customers will know clearly how many rest of the products they want before they really run out. In addition, this condition will lead to a sense of urgency to prospective customers to immediately buy your product.
You can also increase the sensation of the urgency of this strategy by giving a timer countdown. So, the product can only be bought limited in a certain period of time or usually we call flash sale.
Give the order time limit
This one FOMO strategy has been very much applied when you book hotels, travel tickets, concerts and cinemas. Generally, the time limit given to this type of strategy is ranging from 15 minutes to half an hour before the order is automatically canceled by the ordering system.
However, it is also not infrequently there are several online store websites that provide up to 24 hours to complete the customer’s payment. Because, online store products tend to have stocks that tend to be far more and not limited by time (different from transportation tickets that have a departing hour schedule or hotel with duration of time in stay).
So, the length of this time limit can be adjusted according to the type of online business you do. In essence, the time limit can provide a condition of sense of urgency to prospective customers to immediately pay or complete the order as soon as possible.
Offer Free shipping cost Limited
Surveys show that 9 out of 10 people claimed that free postage was their main reason for choosing shopping online. In other words, customers really like free shipping. You can take advantage of this customer’s sense to be applied in Fomo’s strategy by offering free shipping but alone.
When there are free shipping offers limited, many people will tend to immediately make a purchase. Because if not, they will miss the free shipping promo and have to spend more money to pay the shipping fee that should be obtained for free.
You can give a time limit or limit of the number of customers who can enjoy this free shipping promo. For example, free postage up to a certain date or only for some of the first customers.
Try to improve the product recommendation page
Showing pages or product recommendations provided by customers is something that has been used very much in an online store. But, you can change this by applying Fomo to be more impressed. How to?
Instead of writing “related products” or “recommendations of similar products,” You can change it in a way “People also buy this product.” Things that can be fairly simple and small are able to wage social proofs, so they can cause Fomo’s feelings to your customers.
How, are you ready to run FOMO strategy?
How about? Applying the FOMO strategy is not too post, right? Even though it looks easy, the FOMO marketing strategy is an effective strategy to increase your sales because this strategy utilizes the fear of humans.
What’s more, if you can combine Marketing Fomo strategies with other marketing strategies. Of course your sales will increase dramatically.
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