In recent times, the concept of FOMO marketing has gained significant importance owing to the fact that the quantum of consumer sophistication is leveraging the level of competitiveness in the online market. So, what does actually FOMO marketing mean? If you are yet not familiar with the concept of FOMO Marketing, then relax your back and spend your next few minutes going through the articles.

What is FOMO Marketing?

FOMO is the type of Marketing which helps to increase potential sale by increasing the desire of your customers to grab the opportunity by purchasing your product. Diving deep into the details, FOMO stands for Fear of Missing Out. Being humans, the fear of missing out on exciting opportunities always keeps on haunting us deep-down. That is what marketers recognized as ground-breaking opportunities and incorporated it into their marketing strategies and named it as FOMO Marketing Strategy.

Implementation of the FOMO Strategy is no rocket science but there shall be a change in the way of communication with the audience. An altercation in the way of communication is sure to convert the desires of the customers into instant actions concerning purchases. The communication method of FOMO Marketing is planned in such a way that it aims at pushing the customers to make impetuous purchases rather than expressing their remorse at the aspect of letting go of a thrilling deal. The concept of FOMO works because as a human, we have a tendency to show a risk-avoiding attitude. The risk-averting attitude in that sense that humans find it extremely tough and sheer waste of money to invest money into those products which may not come up to their expectations. The flip side of the Risk-averting attitude opens up the gate of a probability of regret that may come next in the future. All it means is that we being a human do not want to end up regretting just because we didn’t take avail of an opportunity.

Here is an Fomo Marketing example that will throw light on the same:

Say, you have this desire to purchase a house and have a very clear idea o what it would look like. Now the next moment, while scrolling down your FB feed you find an advertisement of the same house and that too with a certain amount of discount on it. And that is the point when the element of FOMO would come into play. There is a strong possibility that you were not that interested in purchasing the house only before coming across the advertisement. As soon as you came across the Facebook advertisement, you felt the urge for more intensified. Now, you will be compelled to strike the deal as soon as you can.

It now seems pretty clear that what actually FOMO strategy is and how it drives the customers to shape their opinions and take favorable actions.

Let us now discuss 5 Effective Fomo Marketing Techniques to Increase Sales.

It is being proven that almost 60% of online buyers purchase items just because of FOMO. Sounds exciting, doesn’t it? To one’s utter surprise, it is being said that approximately half of the world population buys something just because it has the fear of missing out on the best of things.

With the aim of tapping into a considerable market share, there are various FOMO Strategies. We will be discussing five main strategies that can actually start you yielding high returns straight away.

1. Let the potential customers know that others are buying

One of the best and most effective tools that can be used be used in FOMO Marketing is Social Proof. Social Proof does not only help one increase the conversion rate but also portray the company in the right way. All in all, what’s exactly needed is that you need to persuade those customers who are actually interested in your product down-the-line. All that is required is something that can bridge the gap between desire and the final purchase. Social Proof can act as a catalyst in boosting the confidence of the purchasers and hence giving way to a lucrative deal. At each point in time, you will be having myriad users browsing through your page. If you know the appropriate way of adding the element of Social Proof to your marketing structure, you need not worry about your conversion rate anymore. Giving the target customers the assurance of overwhelming demand and sales can actually trigger them to make a deal. And that is the essence of Social Proof.

2. Launch as much Relevant Social Proof Ads as you can

If you think that showing Social Proofs is the only method of boosting your conversion rate then you are highly mistaken. Social Proof is certainly an effective sales booster but it is not the only one. After Social Proofs come Social Proof Ads. From Social Proof Ads we refer to the testimonials of existing customers. When the visitors would come to know about the positive experiences of the customers, then will actually be triggered and hence choosing that particular product over these. Taking it to the next step you can decide to run constant ads that relate to Social Proof. No matter what you are running as an advertisement, it is always better to give way to positivity all around. But it is always best to make a perfect choice of employing the most eye-catching combination of videos and testimonials of the existing customers. An easy way of implementing the same is to update customer reviews in such a way that they occupy the center position of your ad copy. The other option which you have is to run those posts as ads which have got a lot of likes and comments from the customers. Adhering to this form of FOMO Marketing would not only let you achieve your sales goals but will also let you win over the faith of new visitors.

3. Always Add a Time Limit to the Offers you Give

FOMO is one such Marketing Strategy that is driven by the psychology of the human mind. When you are thinking about the ways that can convert your visitors into regular customers, you cannot afford to overlook the Urgency factor forming an inseparable part of FOMO Marketing. If you add a limited offer tag to the sale of a certain product then it is bound of your customers to open up their virtual wallets and grab the opportunity. But hey! The whole process does not simply end at adding a Limited Time Period Ad. You need to constantly work on it by making the customers aware of the deadlines. All you need to do is to simply trigger your audience to stay tuned in for the minutest of details related to the limited offer deals and let them grasp the deal as soon as you. You can always use e-flashcards to make your customers remind of your deals. The other option that comes in handy, is to create countdown banners that can be used on special occasions, for instance, New Year, Christmas, or Black Friday. In order to let the deal, look even tempting, you can surely offer different discounts which you may let vary on the different days of the week. It would not only attract more visitors but would also develop a sense of urgency in customers regarding your products.

4. Try to make the best out of the Expiring Content

When you engage in some business, you need to constantly deal with the fact that whether your content is matching the desired rankings or not, you are being able to get inbound links, or whether your customers are satisfied with your services. But what we fail to realize is how to deal with the expiring content. The significant part about the Expiring Content is that it can give you a FOMO Marketing Advantage as well. Okay, let me give you an example. Have you ever wondered the reason behind the success of Snapchat? Well, this Expiring Content is probably the reason which has made Snapchat soar lofty heights. Snapchat is one such platform that lets the content expire within a certain period of time. And it is that feature which has made established Snapchat as what it is today. So, how exactly can it work as a productive FOMO Marketing? Just like Snapchat, if you also try to inculcate the feature of Content Expiry in your Programming then you easily manage to transform the mindset of a huge customer base. A lot of companies are using the Content Expiry feature to generate a sense of suspense in the audience by means of Snapchat Stories itself. Almost 95% of them revealed a promo code related to their products through snaps. As a result, people get impatient and keep on checking for product updates. And what else you want?

5. Apply the Policy of Early Bird Discount

If you are trying to make the most of FOMO Strategies then one such strategy that you must follow is to serve your audience on the Early Bird Offer. If you cannot keep to it this offer for a good part then try to give it a shot at least occasionally. If you are thinking about freebies, then it is the best thing which you can do if your company is in its initial stages. But taking into consideration the limited resources you have; it is always better to add a limit to your freebie offers. You must have witnessed the same tactic played by some stores which guarantee to offer a considerable discount to its first hundred customers at the time of its opening. If you want a lot of customers to start valuing your brand from its initial stages itself then this strategy is just one.

FOMO is a quite prevalent word in today’s tech-driven world. If we use it in the best interest of our business then it is bound to yield some startling results. Besides the above five mentioned strategies, there are numerous others which that give guaranteed results if executed with utmost proficiency. Another strategy that is implemented by a lot of marketers nowadays is the usage of clever and call-to-action triggering language. Language certain matters the most when it comes to hitting FOMO. Being an entrepreneur, you need to make your customers feel that they are always running out of time and as soon as they strike the deal, they enter the safe zone. This can only be achieved by the usage of the perfect language which propels the customers to buy your products even if they do not need it urgently.

While expecting high returns from FOMO Marketing, it is not satisfactory to judge its ROI by just one side. We usually think that FOMO is just meant for boosting sales which is true but not wholly true. When you try to make out the advantages of FOMO on an advanced level, you will find out the long-term returns of this strategy. If one keeps on adhering to this Marketing Strategy then it is sure that fortunately if the company prospers, then FOMO is going to be one of its major contributors.

Concludingly, it ought to be mentioned that it is a real Marketing Strategy that needs to be worked on quite seriously. It simply suggests the notion that if you want to flourish and grow as a brand then try such an implicit way of marketing which is pretty impressive in nature. The best way which you can strike FOMO is to target your potential market with the right offer and most importantly at the right time itself. The FOMO Strategy is not too sophisticated to be practiced every now and then if your business is already running.

Never miss out on any opportunity, simply know the core which can turn out to be a pandora box if struck at the perfect time and in the perfect way.