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Fear is one of the greatest motivators for people. People don't want to miss out on a good deal, business opportunity or social event. This encourages them to act faster. FOMO (Fear Of Missing Out), or fear of missing out, is an acronym in English for the psychological worry that is ingrained in the human psyche.
What is FOMO?
FOMO is a term used to describe the stress that people experience when they realize that there is a possibility of missing out on a good opportunity.
Basically, FOMO simply means "fear of missing out." Of course, we human beings have a tendency to worry about "missing out."
Appearance social networks has really contributed to this rise in the fear of missing out. This is because so many people post the "glamorous" part of their lives on social media. This can lead to other people feeling like they're missing out when they can't meet the standards that are being set. We can often wonder how much of what is being posted is real, but the fact is that it depresses a lot of people. FOMO is experienced by 56% of users social networks.
FOMO in marketing
Although FOMO literally has to do with the fear of missing out, it is actually a form of marketing that can be used very successfully for business purposes. FOMO marketing is when businesses use advertising creative to induce fear of missing out in consumers. And this often has a big impact. Encouraging customers to make a purchase decision as quickly as possible can often help dramatically increase conversion rates and revenue. Start from personal experience. People will often hesitate before making a purchase unless they feel compelled to act immediately. And during that wait, they may change their mind.
Companies are increasingly using this FOMO "tool" in marketing as one of their marketing and advertising initiatives. Indeed, this type of marketing leads to attracting the attention of customers, making them buy the product as soon as possible. In the age when attracting the attention of users increasingly difficult, this tool can be of great help in making an ad stand out.
Don't miss a unique opportunity
Fear of missing out does not necessarily mean that a potential client will miss out on a good deal. It can also be done by purchasing the product before it becomes unavailable. This is used by stores that affect this feeling by indicating that there is limited stock or that the time to buy the product is running out, especially when they are selling a physical product. This adds a sense of urgency and panic, pushing potential customers to buy the product if they feel it won't be available for much longer.
Another way companies will instill this sense of FOMO in their target market is by using numbers to demonstrate the popularity of their product. Proving that others are using your product or service is a great way to show that there is something a potential customer is missing out on if they don't buy it.
All you need to do when using the FOMO strategy is to ensure that your audience understands that they will be missing out if they don't buy your product. People don't like to miss opportunities. Some studies have shown that consumers who experience FOMO spend more on average than others. It may just be because the fear of missing out makes them act quickly.
These techniques work because they allow customers to feel like they're getting some deals they wouldn't otherwise have access to. Also, these techniques give a sense of urgency that forces the consumer to react immediately. The goal is to ensure that your audience buys on impulse, rather than regretting not buying later
Made by Nebojsa Radovanovic - SEO Expert @Digitizer