[Part 2 of FOMO Marketing for Startups]
Inexpensive Promotion Strategies You Shouldn’t Miss Out On
Previously, we have explained what makes FOMO marketing tick. In this article, we will explore some inexpensive techniques to kick off your FOMO campaign.
The FOMO concept can help maximize the benefits of internet and social media marketing. With the right messaging, it can help you efficiently advertise your brand. It can transform your business from tanking to banking fast.
But first, make sure that you have a social media account or webpage devoted to your brand.
Here are some inexpensive ways to use FOMO marketing:
1. Display pictures of people buying from your store or coming to your events.
Images of crowds gathering at your shop or sponsored events are “social proof” that your brand is in demand. They would make non-customers feel that they are missing out if they do not try your products.
Splash them all over your social media or internet page and caption them with envying descriptions. Update your images every few days to show your relevance.
2. Emphasize missed opportunities.
E-merchants may indicate on their pages if a product or service has sold out “due to popularity.” They may even highlight such messages in big, bold letters. You may have experienced this on eBay or Gear Patrol. Such lines create a sense of urgency in buyers who truly need the product or service.
Sometimes, these messages are emailed to you, which is the case in this one from Rich Dad, Poor Dad author and success motivator Robert Kiyosaki.
3. Offer time-limited rewards and set strict deadlines.
If a seller offered you 10 laptops for only $10, but you had to be the first customer in the store, what would you do? We all know that Black Friday early bird deals can get that crazy! And they certainly draw crowds, fueling FOMO even in the most pennywise customers.
If you’re thinking of using such a tactic, be mindful of how much the discount will eat up from your profit. Otherwise, your plan may backfire. Also, be strict about the time limit, or you may lose the customers’ respect for your brand.
Credit: Best Buy
Best Buy recently sold this Dell laptop for $250 cheaper, but potential buyers were pressured to decide in 24 hours. Dell computers are well-designed and reliable, and the company is known for eco-friendliness. Their regular customers may treasure that $250 discount.
4. Quote an important or popular figure.
One of the quickest ways to go viral is to have someone famous endorsing your brand. Even if you could get only a micro-influencer to do it, they can still convince 8 out of 10 consumers to buy what they advertise.
If you do not personally know a celebrity or influencer, there are inexpensive ways you can try to get someone popular to promote your products. First, if you already have social media presence, Social Hire suggests that you approach your most connected followers. You may offer them freebies or discounts in exchange for featuring your products on their pages.
Alternatively, you can reach out to influencers at real-life events or by sending them a private message through their social media accounts. Offer them some free samples in exchange for their endorsement. You may read Social Hire’s blog for more information on finding the right influencer for your business.
5. Show your remaining stock levels.
Awareness of declining supplies can draw out FOMO due to perceived scarcity. If it involves a much-needed item or service, it can trigger an urgency to purchase.
This display on Orbitz is one such example. eBay sellers and other hotel booking sites use similar FOMO marketing tools.
6. Entice them with exclusive offers.
Exclusive deals can take the form of free shipping, special discounts, freebies, etc. You may offer them to everyone, but we suggest ramping up the bonuses for your loyal customers.
Now and then, Costco offers these exclusive auto deals to its loyal customers.
At enKo Products, our loyalty program members can get special shipping discounts and promo packages.
7. Introduce seasonal packaging designs on your page.
We previously wrote about how packaging design can influence people to buy. Visually attractive packages can trigger FOMO, which may intensify if the stocks are few or available only for a limited time.
Credit: Bath and Body Works
Bath and Body Works uses this tactic ingeniously to stimulate impulse purchases. Of course, they also use the power of seasonal scents to further boost FOMO. If your shop does not make seasonal products, you can use colorful time-restricted packaging labels instead.
8. Encourage user-generated content.
When you let your customers upload their own material on your website, it does two things. First, it lets them engage with you, which enhances their loyalty. Second, their uploads become social proof that you can use as a free endorsement for your website and brand.
Photos and videos of real people are the best materials for user-generated content because they allow other website visitors to see identifiable figures. You can motivate your customers to upload media on your site by inviting them to your events and giving freebies as incentives.
Testimonials are also considered as user-generated content. Visit our reviews page and tell us what you think of your favorite enKo Products.
9. Email them about secret rewards.
You can use email marketing to announce exclusive happenings and promos. Emphasize the fact that they are available only to your loyal customers and social media followers. You can also send them cart abandonment emails to remind them to pursue their purchasing plans at your online store.
Success motivator and Chicken Soup for the Soul author Jack Canfield uses such FOMO-inducing messages in his emails.
10. Use time-limited lead magnets.
Customers protect private information and may not give them to you unless you incentivize the act. Where will you send your FOMO ads if you do not have email addresses?
To generate leads, Crazy Egg suggests using limited-issue lead magnets. Invite visitors to give their contact details in exchange for a freebie. It may be something they like but will only get from you, such as an infographic or e-book. Give the offer a quick expiry date so you can get your leads right away.
This lead magnet on Built Lean gives exercise buffs free access to weight loss information written by Marc Perry.
11. Use exit-intent popups.
Some users may visit your site and scan it for only a few seconds before checking somebody else’s page. About 70% of such visitors never come back. An effective way to keep them glued to your site is to use exit-intent popups.
Exit-intent popups can sense when the visitor is about to leave a site. A popup appears on cue to keep the visitor engaged. Exit-intent popups typically flash a one-shot deal that can trigger FOMO and generate leads as well.
Credit: Old Navy
As of this writing, the retail store Old Navy uses this offer in its exit-intent popup.
These are just some inexpensive ways to use FOMO marketing for your growing business. You can customize and make them more elaborate as your brand becomes more popular. Remember that FOMO promotions can provide a cost-effective way of boosting your sales and establishing client loyalty.