FOMO is a good way to leverage your eCommerce business’ presence and sales. Customers are anxious about missing out on something great because someone else will get it first. They want what’s best for themselves and their families, so they’ll want it right away.
If an eCommerce site can convince its visitors that they’re missing out on something great if they wait to buy, it can boost both visibility and profits.
Fear of Missing Out examples from marketing and behavioral science:
These are just a few examples of psychological reactions we get that can be used in your eCommerce business model to sell more.
FOMO is a powerful psychological trigger, and it helps to support sales that are built on artificial scarcity. We are programmed to fight for what is scarce because humanity developed by fighting for limited resources. Being included in a social group, having what others have, and being better are imprinted as a form of survival and serve as drivers for action. At the same time, people normally don’t want to accept that FOMO triggers purchases and rationalize their behavior. Marketing wins.
Here are five ways to get started if you want to make the scarcity principle a part of your marketing strategy:
The psychology of eCommerce scarcity is a form of persuasion that uses perceived limitation to encourage customers to buy now or risk missing out. It’s an effective tool in eCommerce because it creates urgency and encourages customers to make decisions immediately.
Yes, it can. If something is in sight for a short time, potential prospects are more likely to buy it because they believe that it will not be available later. This is called the “scarcity heuristic,” and it’s widely used in marketing and advertising to increase revenue.
Fear Of Missing Out is the anxiety experienced from not being able to participate in an event or get something you know about. MOMO — Mystery of Missing Out — means feeling like you are missing something, but without knowing what exactly. The anxiety builds when you think of hundreds, if not thousands of products, services, or events that others are happily using, and you don’t even know about them.
High return rates have plagued the eCommerce sector. How can help product rich content management to deal with this challenge?Read more
When you're working on a mobile application, it's crucial to consider the future integration of PIM solutions.Read more
Curious about the technologies shaping the future of mobile commerce? Interested in upcoming trends in m commerce? Read the article.Read more
In this article, you will find out deep insights about the Gepard product data enrichment tool and why it is necessary for eCommerce businessRead more
In this article, we will explore 15 insightful facts about eCommerce that will leave you astonished and eager to learn more.Read more
Here are some 2023 industry trends on how you can optimize your product feed for increased revenue and sales.Read more
Gepard is delighted to announce its new client Ovia Lighting Ltd. It specializes in supplying a range of light fittings.Read more
Let’s discover the top 10 eCommerce website search trends from experts that would be actual in the nearest 5 years.Read more
These insights will assist you with actionable strategies to enhance your product data and maximize impact on your customers and bottom line.Read more
Need to contact us? Just use this form