FOMO means “fear of missing out”. i.e. missing out on an amazing experience or product.
One of the most popular tactics in marketing since, well, the actual inception of marketing, is the utilization of FOMO.
People will actually feel bad and get a sense of losing out on something that will either give them joy and pleasure, or perhaps meaning and a positive experience.
This phenomena is widespread and is an integral part of human nature.
For this reason, FOMO has been shown as a very effective way of getting an individual to buy a product or pay for a service.
There are a couple of tactics that can be at the disposal of any business or marketing company, and you should keep them in mind at all times.
Limited and Time specific offers
A really effective tactic that triggers FOMO is creating a feeling of urgency, evoking scarcity.
It gets the consumer to think and feel that a product or service will be here only for a limited time, in limited amounts. The product may disappear tomorrow, and the consumer will have missed his or her chance.
So, in social media strategies, this would mean posting an image with, let’s say, a dress that is 70% off, and only until the end of the month.
Normally, a consumer would sit down and think about whether she really needs this dress.
FOMO marketing causes her to think (subconsciously, if not outright consciously) that if she doesn’t buy this dress right now, she will never get such a good dress again.
So whats the deal?
For social media strategies, utilizing FOMO means getting people to think that the product that’s being advertised will be gone, forever, if you don’t buy it right away.
This is best done by setting time limits and special offers.
Tactic 2: Poke a Person’s Competitiveness
Another FOMO tactic is influencing an individual’s competitive nature. Some people always want to be ahead, to be on top, to be the very best.
A powerful FOMO tactic here is to find a way to trigger this feeling. For example, you’re using social media to advertise your trendy new restaurant.
By placing a tab presenting how many people have already visited said restaurant, some competitive people will try extra hard to visit this place as soon as possible, just so they can be in the first 10 or 100 visitors.
Another way is to get a good social media video production company that can create a short clip or ad.
This ad would be specifically tailor-made for your business. It can, for example, show a person who can stereotypically be called an “alpha male” enjoying a drink you are marketing.
Proper FOMO usage will get a person to either aspire to be like this man (and so buy the drink) or try to be better than him (so buy a round of the same drink for the whole bar).
Tactic 3: Exclusivity is everything
Exclusivity is quite similar to the first one, with a subtle distinction. The first strategy in this list triggers anxiety and fear about losing out on a type of resource.
This one is all about getting a person to feel like a part of an exclusive and elite “club”. It’s about getting people to think that if they buy a certain product or use a certain service, that they will be part of said club.
Promoting champagne, caviar, or a special line of cologne or swimwear, all of these will get people going.
By using the actual word “exclusive” and creating a feeling of “eliteness” around this product or service, people will certainly at least try this new line. They just need to get the sense that if they just get this product or service, they will be “in”.
These are the 3 most popular and most effective FOMO tactics for any company or business. These may have focused a bit more on Social Media strategy, but trust us, they can be used anywhere.
Proper FOMO usage is all about getting inside the head of the consumer, and figuring out how to get them to buy a product. These are ubiquitous and, with a little patience and hard work, anybody can use them effectively.