How To Use FOMO To Increase Sales. DON’T MISS OUT!

How To Use FOMO To Increase Sales. DON’T MISS OUT! // What is FOMO in marketing? Also known as the fear of missing out or loss aversion, fomo marketing looks at things like how to create urgency, how to create scarcity, and other emotional triggers that increase sales in online marketing. So if you want to better understand how to create fomo in social media or how to build fomo in sales, then keep watching this video, because I’ll tell you exactly what does fomo mean, how to use fomo, how to use conversion rate optimization for website fomo, fomo marketing strategy, and other fomo marketing tactics. So let your own emotional trigger get to you, come learn these marketing hacks, and let’s get started!

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Resources Mentioned:
Study on groupthink: https://www.psychologytoday.com/us/blog/after-service/201705/the-science-behind-why-people-follow-the-crowd
Sauna Suit: https://www.youtube.com/watch?v=Pij33oHFyT0
Mitch & Cam try to buy concert tickets: https://www.youtube.com/watch?v=TDBnw6jH_Jc
Disney Vault video source: https://www.youtube.com/watch?v=K_uTS3gNOVc&list=PLrowu4TUhyok1CepHZWRr2CLC3E3xhSxK&index=3
Get GFuel here, I guess: https://gfuel.com/
Brian Dean’s Youtube Channel: https://www.youtube.com/user/backlinko
Trustpilot: https://www.trustpilot.com
LinkedIn: https://www.linkedin.com
Peter McKinnon’s Youtube Channel: https://www.youtube.com/user/petermckinnon24

Video Breakdown:

– What is FOMO
— FOMO aka loss aversion is a Neuromarketing technique
— Designed to play on groupthink
— Humans have a herd mentality. Proven that we tend to follow the crowd
— So, if feel like we’re out of step with crowd – instinctively start to worry
— Marketer’s job is to make the prospect feel like they’re the only one without something
— Been around as a technique forever, but recently more important
— social media paying huge role
—- Building aspirational brands.
—- You can’t STAND to miss out on what fave influencer is doing

– How to build FOMO

— Create urgency
— Make the user feel like time is of the essence
— Some types:
—- Personal urgency
—– In copy/imagery – make them feel like they need this ASAP to overcome a hurdle in their life
—- Time-based urgency
—– Make them feel like there’s no time to make the decision

— Instill Scarcity
— The more scarce something is, the more we want it.
— Limited availability
—- You can limit access to anything, but make sure it’s real
—- Not limited to products.
— One Time Offers
—- Making an offer to the prospect and telling them it will never happen again
— Scarcity works well as long as it’s real

— Focus on Pain
— Two avenues for marketing copywriting – “toward pleasure” or “away from pain”
—- to add urgency, better to focus on pain

— Use Influencers
— Influencers are online personalities that talk about your product/service.
— Get your offer in front of them and you’ll see faster growth
— Three types of influencers: Massive, Micro, and Nano
—- Massive = those with greater than100,000 followers on a platform.
—- Micro = those with 10k – 100k followers
—- Nano = those with 1k – 10k followers
—— Ssmaller is better if you understand your target very well.

— Social proof
— If you can show extreme value from others, then you increase the fear in the prospect that s/he won’t be able to get the same result without you.

— Add-Ons
— These take the FOMO prospects are already feeling and adds a bit more by taking away concerns about being duped

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#fomo #fearofmissingout #lossaversion #trentkennelly