6 FOMO Marketing Strategy Ideas You Can Try!

6 FOMO Marketing Strategy Ideas You Can Try!
6 FOMO Marketing Strategy Ideas You Can Try!

Have you ever hurried to buy something because reason afraid the item is out of date or out of date? You are FOMO! The definition of FOMO is not actually a new term let alone in marketing psychology strategy. FOMO itself is an abbreviation of Fear Of Missing Out meaning that it is more or less afraid or uneasy to miss a certain activity. The current term FOMO is often likened to fear of being outdated. One form of fear of missing out is also often assumed with social media addiction. Where the source of that fear lies. See a friend having a new, restless car. See friends using the jumpy lipsync app. All restless!

There is actually nothing wrong with FOMO behavior. It all goes back to how people treated it. Because being FOMO it still has the benefits of e.g. anti-stuttering technology, know the social development of culture etc. Even this behavior can be an advantage for business people in drawing up marketing strategies. The application of FOMO behavior to marketing strategies is usually associated with specific conditions. What impact would consumers have had if they didn’t buy those products. Why should consumers buy such products as soon as possible.

FOMO Marketing Strategy Ideas

According to Strategy Online, FOMO is closely related to millennials. As many as 60% of millennials decide to buy, use, or rent something because of FOMO. Eventbrite also confirmed that 69% of current adolescent activity is actually affected by FOMO behavior. Fear of Missing out is very closely related to psychology. Therefore you also need to understand psychology and its implications for social culture. The bottom line in implementing this marketing strategy, you also need considerable research. According to Dr. Chris Hodkinsons, University of Queensland’s business professor, FOMO’s marketing strategy is not just looking at trends, but how you can provide consumers with experience and advocacy.

FOMO is also very close to time, value, and uniqueness. As described on Eventbrite, the fear of missing out relates to a particular phenomenon, moment, or event at a given time. For example if you’re a goat restaurant businessman. Make a special menu at the feast of Eid Al fitr; kick the goat. Experience, precise timing, uniqueness as well as value provided are in a single package. That is the glimpse of FOMO. Next, we have some ideas for you in implementing the FOMO strategy. Anything, huh?

Show People Who Buy Your Products!

Constitute a basic strategy on marketing strategy. Similar to an endorsement, you could show anyone who has purchased your product. Either on social media by posting influencer testimonies that purchase your product or on your website. On the website, you could use social proof plugins or enter the logos of well-known companies that successfully purchase your products if your business is business-to-business models like HRIS Talenta do.

Indicate Item Stock Amount

FOMO is deeply related to the desire to own by quickly. Therefore, you could indicate the amount of stock of the item on your product categories. For example, “Product A is left with only 1 more product!”, or “just red color!” Small things like this will affect the psychology of consumers who will lure them to buy your product quickly.

Love the Time Limit!

Ever buy a product through a flash sale program? Yeah, More or less the same concept. You can sell certain products based on the most selling or rarest by limiting the time of purchase. You could include the purchase period and the remaining purchase time. This method is quite effective let alone if you want to spend stock of certain items.

Build a Sense of Competitiveness Between Consumers

That FOMO talks about competition. make a consumes your compete with each other to get the products you sell. For example, listing how many people have already pressed the likes button on product A, how many people have seen product A, or how many people have purchased product A. In addition to being able to build competition between consumers, this method could also build your business’ confidence in consumers.

Create an Exclusive Product

Ever you want to buy something because of the product those exclusively sold at certain times. It can be said it is FOMO’s marketing strategy. You could sell special items that you’ve never previously sold even your competitors sell and yet have a high consumer interest rate or trend. For example selling A brand output products that are trending nowadays yet sold in limited time. The other way is you could collaborate with certain influencers or products. For example, a designed bag product results from collaboration from designer A. Usually products with “collaboration” labels will sell hard on the market. The tips are that we should follow the trending developments among the public as well as select rising influencers. With this cooperation it is no wonder that a product can be sold out in minutes or even seconds and will become a public conversation so that your product will become better known to the public and become a product that will be waiting for, interesting, won’t it?

Deliver Specialized Services for First Buyers!

Classic, but quite effective. This way is very effective to leverage this FOMO behavior. For example, give free shipping, vouchers, or even additional items. The first buyer referred to here is not really the first buyer. However you could limit it by quota. For example the first 10 buyers up to the first 100 buyers. This way in addition to improving competition between consumers, you could also generate a lot of interaction even conversion on certain products. Offerings for other first-time buyers could be made by giving shopping cuts without minimal purchase. Set a range of felt shopping pieces that attract customers enough, create pamphlets or brochures to spread promos in your store.

Closure

Broadly speaking, FOMO’s marketing strategy is very requires deep research as well as human resource management capable of predicting and reading consumer trends and behaviors. Ideas do not remain ideas if not executed. Any marketing strategy if it’s just an idea like a wheelless plane.

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