[ad_1]
Countdown clocks, limited seating, only X items left in stock … does scarcity marketing work for you? If so, why?
Scarcity marketing and the Fear of Missing Out (FOMO) is a phenomenon that can be applied to all forms of marketing – especially digital.
Mindy Weinstein, Ph.D., author of The Power of Scarcity, joins me on the SEJShow to talk more about the concept – and how it can help you drive results.
Marketing is so much psychology; it doesn’t matter if you’re doing SEO, paid search, or social. You’re trying to reach a person. I feel like it’s a lot harder than before because it’s a matter of not just reaching them but cutting through the noise and then using the right words. –Mindy Weinstein,1:51
Because of scarcity, there is excitement and there is loyalty. Think of Nike and some of these big companies that people watch for the drops. It goes beyond just creating quick revenue, as I need sales right now, which is what most of us associate with scarcity. –Mindy Weinstein, 29:02
You’re bringing their focus, especially for people all over the place, and you’re giving them the direction to tell them what to do, which many audiences actually crave. They don’t necessarily want to make that decision, and they need you to guide them to make the decision or to make the sale. I think that’s something that can be lost in digital marketing.
–Loren Baker, 19:20
[00:00] – Mindy’s background.
[05:17] – What is scarcity marketing?
[06:00] – Four types of scarcity.
[10:14] – How to take scarcity marketing from the traditional to the digital side.
[16:01] – Examples of using scarcity marketing in websites.
[20:20] – Examples for service-based businesses.
[25:19] – How McDonald’s used scarcity marketing.
[32:27] – Ways search marketers can incorporate scarcity marketing into campaigns.
Resources Mentioned:
The Power Of Scarcity Book – http://powerofscarcity.com
Market MindShift – https://www.marketmindshift.com/
It’s multi-layered….
..
[ad_2]
