A lot of people are missing out.
But you’re one of the smart ones who isn’t.
Here’s a clue to this weeks weapon of mass influence.
It’s scarcity. Or was we know it now FOMO. Fear of missing out.
Humans do more to avoid potential loss than they do to get a potential gain. Funny thing but if you remember we are wired primarily to survive it makes a lot of sense.
If something is scarce we see it as more valuable and feel we ‘have to’ have it.
Remember the great toilet paper ‘crisis’ of 2020/2021.
Smart businesses have been using this for years. Quantity or time deadlines trigger FOMO and can make us buy even when we’re not fully sure we want something.
This has been a massive driver of interest in the cryptocurrency market.
Fashion brands like Supreme do limited drops of lines.
Even concert tickets are often limited and no fan wants to miss out.
But there is one rule you must apply if you’re going to use scarcity. It’s this. It must be true.
If it’s fake scarcity you will fool some people once BUT your fraud will be discovered and longer term destroy your business.