Whether we like to admit it or not, we can all be suckers for a good impulse marketing push. How many times have we heard something along the lines of “Grab this limited edition offer before it’s gone!” and immediately clicked the add to cart button without thinking twice?

It works because it’s preying on your impulsive tendencies and capitalizing on your fear of missing out on something that sounds too good to be true.

FO·MO

/ˈfōmō/ anxiety that an exciting or interesting event may currently be happening elsewhere, often perpetuated thanks to social media.

Unlike traditional marketing strategies, where you spend copious amounts of time and effort to build trust with your customers before they decide to invest in your business, this marketing strategy hopes to influence someone to make a quick decision. But effectively leveraging this type of marketing requires a deeper dive into the psychological factors that trigger the right response in your customers.

What Drives FOMO

Exclusivity

Inviting someone to be a part of something unique and special is enticing — especially if it sounds like others are being excluded from the same offering.

Anchoring

There’s a tendency to rely heavily on the first piece of info you get about something and run with it without needing anything else to go on.

Scarcity

What is it about a limited supply or availability that forces our bodies into immediate action?

Urgency

Must. Do. It. Now. Or. Else.

Regret

That fear of regret is one of the strongest motivating factors within each and every one of us.

So, how do you connect your marketing strategies to inspire urgency in potential customers? With a FOMO Marketing Campaign

Fomo Marketing Strategies

Remember: Timing is Everything

Like all things, you have to get your timing right to effectively leverage FOMO marketing. Otherwise, you’ll miss the mark and potentially lose credibility with potential customers and, even worse, existing customers.

FOMO Marketing Examples Around Timing:

You want to employ these tactics when your audience has a high buying potential. For example, you’re not going to make your customers feel like they need to buy something ASAP if it’s happening after the hectic holiday season. People are burnt out and broke from all their Christmas shopping! Instead, use timing to your advantage and utilize a foundational FOMO strategy – panic-inducing countdown timers. Remind your customers that Black Friday and Cyber Monday are fleeting. Time limits around seasonal marketing campaigns help increase impulse purchases and tap into key consumer behavior.

By pairing this perfect chef’s kiss timing with a savvy FOMO marketing campaign, you can capture new sales in record time. Here are a few unconventional ways to instill a little fear of missing out on your marketing strategies.

Formulate the Illusion of Expiration

So what if you don’t have to end the season for a product at a certain point in time? You get to make the rules — and the more concrete that deadline is, the more you’ll manufacture some intense supply and demand for that product or service.

FOMO Marketing Examples Around the Illusion of Expiration:

Think about those delicious Girl Scout cookies. If they were readily available at your local grocery store, you wouldn’t buy so many boxes all at once, would you? But because you can only get them typically from January to April, you order a bunch of boxes when given the opportunity because there’s no way you’re missing out this year.

Not willing to pull an item off the shelf seasonally? Try the same concept with discounts and flash sales that only extend for a short period of time. It will have your customers rushing to fill their carts before it’s too late!

Amazon has offers a “Deal of the Day”, which showcases a handful of products that only you have the opportunity to buy at a discounted price — but hurry! The deal only lasts 24 hours — and the accompanying countdown timer will remind you of it every second you sit there debating whether to add it to your cart or not.

Now, we did come here to talk about event marketing, not just physical products, so here’s another example of the illusion of expiration to tap into the FOMO effect. Have you ever purchased a ticket for a conference? I know I have watched the countdown timer inch closer and closer to the date when “early bird pricing” ends while I panic about whether or not I want to shell out hundreds of dollars for a ticket.

Tap into deadlines in your marketing efforts by including urgency in your marketing emails and event communication.

Create a Deal Too Good to Pass Up

Here’s the thing — you can’t inspire FOMO in someone if the deal isn’t sweet enough. No one feels like they’re missing out on something if it’s a common occurrence.

Think about how you want to position your proposition. What will make a potential customer decide to make that leap?

FOMO Marketing Examples for Creating Highly Incentivized Offers:

• Free shipping incentives to avoid cart abandonment
• Extra add-ons, gifts, or rewards for the purchase
• Alert for low inventory or limited supply when someone adds the item to their cart
• Bundles and upselling offers that are highly valuable
• Options to be among the first to be alerted when products are back in stock
• A free raffle for VIP Tickets if you buy General Admission tickets before a certain date
• Lower pricing for early bird purchases

Uncover Cart Recovery Tactics

Unfortunately, the odds are against you when it comes to the chances of someone abandoning their cart before they get to checkout when shopping online. Research shows there’s an average of 69% of shoppers who abandon their carts, regardless of the industry.

Fortunately, there are some things you can implement in your marketing strategy to push back against this phenomenon.

Get creative with your email marketing & try some engaging approaches.

Abandon Cart Campaigns

Reminder about their cart still waiting for them — and incentivize them to reach the check-out with a little something extra like free SWAG, a discount code, or early access to the meet and greet.

Shipping Deadlines

If there’s a particular holiday coming up, remind the customer that the last day to ship is quickly approaching.

Almost Out Alerts

Prompt your potential attendees when there is limited availability left for your live events.

Use the Social Proof

Influencer marketing has taken the world by storm in recent years — and for good reason. Who better to tell us about the coolest virtual event than people we trust? 88% of consumers admitted that they trusted recommendations from people they knew above other marketing messages.

Highlight positive reviews, testimonials, and endorsements you’ve previously received from existing customers. Bonus points if you can get any of these positive praises in video form for future video content. Social proof helps tap into the emotional connection and shows your existing customers’ brand loyalty.

Offer incentives for your customers to share their thoughts and experiences with others through affiliate programs, referral codes, and special discounts. Everyone wants what others have, and chances are, your customers know people in your target audience — so why not let your existing customers do the work for you?

In Conclusion

The FOMO effect is a powerful tool that drives us to make impulsive decisions or pushes us to take actions that we otherwise wouldn’t.

Use this wisely when speaking to potential customers in your event marketing strategy. FOMO marketing strategies can be impactful, but make sure you are taking caution and don’t abuse the emotional experiences you are creating.

If you do it right, you will find increased customer engagement, expanded potential customers, and (hopefully) rewarding experiences for your target audience.

Use AddEvent to Drive Your FOMO Marketing Strategy Home

When it comes to creating the strongest FOMO marketing strategy you can, AddEvent is always here to help!

The possibilities are endless, from leveraging events and calendars to reminding your customers of fast-approaching virtual events that they don’t want to miss or sending exclusive offers that are only available to your calendar subscribers. Plus, you can try AddEvent for free. All you have to do is sign up today to take it for a little test drive.