For you readers that have kids, I am told anything Harry Potter, Pomsies or Fingerlings are the rage. Why do I care? Fear of pain or losing out drives actions. Actions as in sales and traffic to local business owners.
Think about the last time you really wanted to purchase a product or had a huge pain point in your business that needed to be solved quickly. Did you take the time to shop 7 different places to find the cheapest solution? You needed the pain to go away. Whoever solved that quickly for a fair price got your business, right?
FOMO is the acronym for “Fear Of Missing Out”. This is a very powerful emotional drive that is the key to successful marketing on many levels. For the toys I mentioned above, a parent or grandparent will do just about anything to get that special must have toy. This goes back decades with various toys that flew off the shelves months before Christmas.
“Fear of Pain” is another powerful motivator to drive action. I am not talking physical pain here, yet that is also a major driver. I am talking about fixing just about any pain point a prospect or customer may raise their hand to fix.
How about some examples?
Think wedding venue dates are going fast, children’s birthday party places are booked (see my previous post about birthday marketing gold) or they need a haircut for the special event and want a coupon NOW. The list is endless for your business. Just kick back and think from your customer’s perspective.
When you use FOMO or Pain relief in your advertising, you will engage that primal urge to avoid pain or miss out everyone has inside their head. It is mostly unconscious and therefore, hard to avoid.
Mix up this marketing with seasonal marketing and you can not lose. For example, prom season needs hair cuts and gowns or tuxedos. Graduation times require the same (so re purpose the ad quickly and easily). Back to school falls into this category. Also, remember the best evergreen strategy of birthday marketing!
My example of fear of missing out (FOMO)?
I remember one of the best books dealing with marketing and advertising online was almost out of print. Fortunately, the author printed more and I was able to move off of the waiting list to get my copy. DotCom Secrets detailed how the modern world of younger online shoppers was changing the dynamic.
I am sure you too have many examples where you wanted or needed a fix or purchase NOT, not later, not next but NOW. Did the money side really make a difference to stop the pain or avoid missing out? I doubt it. Be real here. Right?
In summary, ethically using FOMO or avoiding pain, when done correctly will drive new customers into your business. Fear of pain or losing out drives actions. Use it wisely.