Exactly as it sounds, FOMO marketing draws on customers’ FOMO, or fear of missing out, to drive website traffic and ultimately attract customers. If you’re not tapping into your customers’ FOMO, you’re missing out!
Think about it: FOMO is everywhere — on social media and in real life — and it affects everyone, though young people feel it especially strongly. One study by Eventbrite found that almost 70% of millennials have experienced FOMO at some point in their lives, and a third have purposely tried to make their friends feel like they were missing out on something.
There are three main ways customers experience FOMO: they purchase items out of fear of missing out on a deal; they spend in order to keep up with their friends; and they feel unhappy after missing out on an interesting shared experience.
That’s where you come in and where you can tap into feelings of jealousy and envy that accompany FOMO. For example, you could host an event and limit the number of attendees or live-stream giveaways to show customers what they’re missing.
You could also use FOMO Marketing when building your website. Experiment with a countdown clock on your website to create a sense of urgency. Or, on social media, take a lesson from Snapchat and let your content expire.
Fundera outlined nine unique ways to incorporate FOMO Marketing into your business — at events, on social media, and online.
Please include attribution to fundera.com with this graphic.
