In this new article, we are talking about FOMO Marketing Tips – Fear Of Missing Out marketing tips.
We will be learning about:
- What is FOMO Marketing?
- Common Behaviours that Feed into FOMO
- How Does FOMO Connect With Marketing?
- What is the Science Behind FOMO Marketing?
- Why is FOMO Marketing so Important?
And so much more, including 7 great tips that you will not want to miss out on!
Let’s get started
Want to increase your Shopify store sales with FOMO marketing strategy?
Are you wondering, what are the best FOMO marketing tips or tactics that will boost your eCommerce sales?
You came to the right place as we offer you the best FOMO marketing strategies that will Improve your Shopify e-commerce sales several folds.
Using FOMO as a digital strategy is one of the best marketing techniques for driving more sales.
Because it moves anxious visitors and consumers to make purchases since they do not want to miss out.
Nobody wants to be at the back.
You don’t want to find yourself in a situation where you’re like, “I should have bought that stuff.” It is a regrettable experience no-one enjoys.
That is where FOMO marketing comes in handy.
So if you can tap into the psychological triggers of FOMO marketing, it means that you can seamlessly encourage your marketing personas to take advantage of your offers and buy from you.
However, what is FOMO?
Let us address this unique word before going further down the article.
FOMO is short for “Fear of Missing Out,” It is an anxious feeling of insecurity when you sense that people have a rewarding experience for which you’re missing.
In other words, FOMO is a widespread uneasiness that makes you act on the momentum so that you will not miss a thing.
What is FOMO Marketing?
In business, FOMO marketing is market-based activities that involve the use of messages and other content types to trigger consumers’ fear of missing out (FOMO) on what you are offering.
Put differently, FOMO, the fear of missing out, is content pieces that appeal to users’ cravings to leverage any available opportunity before it goes away.
As humans, we tend to make stimulus decisions and act upon it so that we do not miss out on something of value.
That is where FOMO comes in handy. It is a psychology that prevents us from regrets.
That is why FOMO marketing is so powerful.
So, because you fear missing out on valuable offers, consumers are constantly checking their emails, social media, and other notifications for exclusive offers, discounts, gift cards, and more.What is FOMO Marketing and the common behaviours that feed into FOMO?Click To Tweet
Common Behaviours that Feed into FOMO
Fear of missing out is a typical problem that anyone can experience, both marketers and consumers.
It is especially so for social media users as they can quickly access other users’ live experiences.
It might be a feeling that other users are more popular on social sites and things like that.
This emotion may move some to expect more of themselves.
Thus, it is this high expectation of oneself that breed the following common behaviours of FOMO:
These behaviours are the critical elements that drive FOMO, making it a remarkable marketing tactic that drives sales growth.
How Does FOMO Connect With Marketing?
FOMO and marketing are like peanut butter and banana; they go hand in hand.
Consumers may not notice the FOMO marketing strategy in the content that excites them.
But it is easy to identify if you pay close attention.
For instance, if you send out a brand message that says, “14-days only,”
You have integrated FOMO into your marketing campaign.
Also, you may see words like those in the screenshot below, from an email I received from Jon Morrow of SmartBlogger.
Notice that Jon used FOMO strategy 6x in his email copy:
- The flash sale ends tonight.
- You can still get 85% off the Smart Blogger SEO 101 if you act fast.
- For the rest of the day only.
- Grab your copy before the price goes back up.
- This flash sale ends at midnight today.
- Click here to download it in the flash sale today only.
The FOMO marketing strategy Jon used is to persuade recipients of that email to buy by activating the FOMO effect.
The sales copy shows that in less than 24 hours, the deal will go away.
So, it becomes urgent for recipients to act quickly, or you’re bound to miss out if you don’t act fast.
That is how FOMO connects with marketing.
Therefore, using FOMO in your marketing mix will help you drive more conversions and boost your return on investments (ROIs).
What is the Science Behind FOMO Marketing?
The simple psychology behind the fear of missing out is that it creates pervasive anxiety on consumers that other users of a particular product or platform might be having rewarding experiences without them.
That fear is what drives potential customers to act quickly without taking the time to think it over.
So, FOMO marketing techniques take advantage of visitors’ intense desire not to miss out.
Since they want to be among those having a rewarding time, the FOMO effect makes them buy from you.
That thought processes or behaviourism characterized by FOMO is the driving force that compels consumers to take action because they want to be at par with others.
For example, a report by Everbrite shows that FOMO compels millennials.
That is why almost 70% of millennials experience the fear of missing out.
Think about it; millennials are everywhere on social media and listening to podcasts.
If their peers transmit exciting life experiences across social media sites, FOMO will urge them to join in, interact, and share the experience.What is the science behind FOMO Marketing?Click To Tweet
Why is FOMO Marketing so Important?
FOMO marketing is essential because it has a significant influence on consumers’ purchasing decisions.
For example, research reveals 64% of customers experienced the wonders of FOMO─the fear of losing social media attention.
Also, 60% of consumers admit to making responsive purchases after experiencing FOMO.
Social media updates are the primary factors causing FOMO.
For this, over 70% of Facebook users say they can’t go more than 12 hours without examining their accounts.
As you can see, more people are experiencing the fear of missing out.
For this, they will always buy from you to satisfy the FOMO phenomenon.
Thus, 56% of social media users are afraid of missing out on valuables.
As a result, they are considering walking away from social networks for a while.
So how can your business make the most of FOMO marketing to increase Shopify store sales?How to use FOMO Marketing to increase Shopify sales! Click To Tweet
How to Use FOMO Marketing Strategies to Increase Shopify Sales
While there are several procedures you can apply, we assembled the top seven ways that are proven to work.
If applied correctly, these steps will work for you, as well.
7 FOMO Marketing Tips and Tactics
1. Add Countdown Timer to Your Offers to Boost Sales
Time, as you know, is a valuable resource that you want to utilize properly.
In this context, the countdown timer leverages the principles of insufficiency and stir up the urgency, which triggers web visitors’ fear of missing out on what you’re offering.
That is why this FOMO marketing tip is so effective in getting consumers to make purchases.
When the countdown tool inflames buyers’ sense of want and urgency, they are more likely to take action.
For example, here is a sample countdown by Jorden Makelle of Creative Revolt, in one of the emails she sent to me about her offer:
You can see the same countdown timer on her landing page on the screenshot below.
This marketing technique helps in increasing consumers’ need to buy from you even when they’re not willing.
Also, Melyssa Griffin was selling a product for $397, but I wasn’t interested and was less excited about it.
However, a few weeks later, I received a countdown notification about the product.
Right there, I experienced FOMO, took action, and paid for the product.
So, if she had not added a countdown timer, I would not have opted to buy it at that point because I wasn’t ready.
That is the power of FOMO.
Consequently, use countdown timers to stimulate urgency.
It will move your target market to take action and make purchases.
2. Show Live Action (That People are Buying Your Products or Services)
Showing live-action that consumers are buying from you is a fantastic way to stimulate the fear of missing out (FOMO).
When web visitors see that people are making purchases, it creates a sense of curiosity and triggers their urge to buy.
Have a look at the screenshot in this section to see how SeedProd uses real-time live-action marketing tactics to skyrocket sales.
It influences your decision to buy. So, to boost sales for your Shopify store, apply this strategy, and see your Shopify store sales increase beyond imagination.
So, use live-action marketing tactics to arouse consumer anxiety, move visitors to action, and increase your Shopify store sales.
3. Provide Discount to Early Buyers
Another fantastic FOMO tactic is to give early buyers product or service discounts. It works pretty well, and similarly like countdown timers.
That is because it also ignites the feeling of urgency.
Smart marketers are using this marketing tip to achieve a remarkable return on their investments.
They offer discounts to early buyers to speed up purchasing as it encourages shoppers to make purchases before the discount offer expires.
The concept is, if you want a discount, then hurry up and pay for the product or service.
You can choose to give the first 500 customers who purchase your downloadable 50% off the regular price.
This approach will heighten a pressing need not to miss out on the offer since it is only available to a select number of people. In that way, you will increase your Shopify store sales several-fold.
Let’s face it; if you know that a particular product of interest would be available only to the first 10 buyers, it is obvious you want to be among the early 10 to pay for it. In that case, FOMO is influencing your buying decision.
It encourages shoppers to make quick buying decisions rather than thinking it over.
4. Create Time-sensitive Special Offers
To see a time-sensitive special deal in action, have a look at the sample screenshot by Keap.
They are giving consumers a 30-day special offer for either of their two products.
But to benefit from the deal, you must buy either one now or before the end of May 25th 2020.
That is a limited time offer in the FOMO marketing strategy in action. It means that if you can purchase their product within the next three days at the time of writing this article, you will benefit from the deal.
But if you can’t, the offer goes away after the deadline.
This process is about using deadlines to improve Shopify sales for your eCommerce store.
Moreover, you can use this marketing initiative to provide customers other benefits to urge them to buy from you.
You can, for instance, include a bonus for each purchase made before the deadline. These could be:
- An Amazon gift card
- Free downloadable
The idea is to use the fear of miss out to influence your target market to start making purchases to increase sales.
it or not, humans incline to acquire items for free or at a much lower rate.
For this reason, buyers encounter FOMO when they become aware that they could get needed items at low rates or for free.
5. Use Influencer Credibility to Increase Shopify Store Sale
One of the best digital marketing assets in recent times is Influencer marketing. That is why several businesses, small, mid-sized, and larger brands are investing heavily in influencers to grow their businesses.
Why is Influencer Marketing so Effective?
To answer that question, consider a few statistics:
- 65% of budgets for influencer marketing will increase in 2020
- 89% of marketers say ROI from influencer marketing is some-worth equivalent to or better than other marketing strategies
- 2020 will see almost 70% of marketers spending more money on Instagram influencer marketing.
- Over 90% of marketers trust that influencer marketing is an effective marketing tactic.
These numbers show how essential influencer marketing is to businesses and organizations.
Moreover, according to the “State of Influencer Benchmark Report for 2020,” in 2019, 380 new influencer marketing platforms/agencies were established.
The industry is growing steadily, and the impact influencers have on consumers can’t be disconnected from FOMO experience.
It makes working with the right influence a fantastic way of utilizing the “fear of missing out” to your advantage.
Consumers have already built trust with the influencers they follow and are willing to buy what they recommend.
Take Instagram, for instance.
Each Instagram post by an influencer gets thousands, hundreds of thousands, and millions of likes.
Because 90% of consumers trust the word of mouth marketing─recommendations from others than traditional ads campaigns, the recommendations could be through:
- Online reviews (product reviews, case studies)
- Email campaigns
- Branded content
- Social media posts
So, when an influencer mentions your products or services to his/her followers with a limited time offer, for example, or a limited number of sales, you can imagine what would happen.
FOMO will take effect and light up the fear of miss out.
As a result, customers will make more purchases. But it can be challenging to find the best influencer for your campaign.
6. Disperse Your Content with Short Supply Offers
Dispersing your content is a useful marketing strategy that will help you build brand awareness and grow your business quickly.
This method involves crafting content that people will like to share and use omnichannel marketing techniques to promote your business.
In this context, you will create highly-informative content pieces that can land you a standing ovation.
Ensure that your content is explanatory and persuasive enough to keep readers on the page.
It is a fantastic way to promote your product through blogging.
However, if you are creating video content, it should be captivating enough to keep viewers glued on your screen.
Then use multi-channel sales tactics to distribute and promote your materials.
However, guarantee a stable customer experience across marketing channels.
Improve customer experience 9CX with a variety of content types, including:
- Email newsletters
- Blog posts
With your offers integrated into these materials, tell recipients via newsletters or other avenues that you have a short supply of exclusive discount offers.
Let them know that they can access the offers only on particular marketing platforms.
Knowing that you have a short supply of incredible deals across channels, the FOMO will take effect and move them to act fast to benefit from the deal.
As a result, not only will you boost your e-commerce store sales, but you will also increase publicity for your Shopify store and build your online brand reputation. It is a win-win marketing strategy.
7. Use Shopify Review Apps to Increase Sales
Integrating Shopify review apps into your eCommerce business is one of the best ways to increase sales dramatically.
These apps let you collect customer reviews in visual formats that influence consumers’ buying behaviour.
Moreover, image-based reviews convert more leads than text-only product reviews.
So, using a Shopify photo review software is a fantastic decision you could ever make for your eCommerce business.
Why is that so?
By collecting real-time social proof, it will arouse the potential buyer’s fear of missing out (FOMO) and inspire them to action–make purchases.
When consumers see first-hand visual product reviews from real people in your store, FOMO will take effect.
Consequently, you will drive more web traffic, improve conversions, and increase sales.
The social proof you gathered has a tremendous impact on consumers.
It serves as evidence of your brand’s authenticity and helps in amplifying your brand reputation.
There are several tools you can use for this purpose, including:
These Shopify tools allow you to collect photo reviews from happy customers and display them on your eCommerce store.
Examples of Shopify Visual Review Apps in Action
Here are just a few businesses that are using the Shopify software application to collect photo reviews and drive more sales.
Ele Story is a Shopify fashion store that sells classic handcrafted children clothing made in the USA.
The company is one of those that are using the Shopify reviews app to collect happy customer reviews to drive more traffic and sales.
The last on our list that is leveraging FOMO and image product reviews is Slick Case.
Slick Case is a Shopify accessory store that is powered by Loox.
The hundreds of photo reviews they have assembled so far has helped them to attract new buyers and retain existing customers.
Takeaways – How to Increase Shopify Store Sales Using FOMO Marketing Strategy
FOMO is not new to us, but using it as a powerful online marketing technique may be new to you.
There are many ways to use the fear of missing out to increase eCommerce sales and grow your business.
But the six steps we outlined above are sure-fire ways you can apply today and start seeing positive results from your Shopify store sales.
And while FOMO raises anxiety and curiosity, it makes sense as a powerful marketing tool.
In consequence, use these six FOMO marketing strategies outlined here to generate more leads, increase sales, and grow your business.
What other FOMO marketing techniques can you bring to the table to add value to our readers? We will appreciate your comments!
Now it is over to you.
Have you ever used FOMO Marketing?
Do have any additional FOMO Tips of your own?
Let us know in the comments section below!