FOMO – Fear Of Missing Out. This is a powerful psychological trigger that experienced affiliate marketers have learned how to harness and use in their marketing campaigns. If desire is the number one trigger for any buying decision, then FOMO comes in a very close second.
The Fear Of Missing out has always been with us in the world of marketing. Remember the phrase “keeping up with the Joneses?” No the 2016 comedy but the saying. According to Miriam Webster, the phrase “keeping up with the Joneses” means “to show that one is as good as other people by getting what they have and doing what they do people trying to keep up with the Joneses by buying expensive cars and clothes that they can’t afford.” That was the original version of FOMO.
FOMO comes in many shapes and sizes. Let’s go over the four variations of FOMO proven to increase engagement and conversions.
We’ve all seen the headlines “last few left,” “get in now before we raise the price.” Urgency sells, and it sells for a very simple reason. Nobody likes missing out on a great deal. Nobody likes paying a higher price because they are waiting too long or didn’t act quickly enough. This element of urgency is particularly strong in the internet age. Visit practically any website and browse for anything online, and chances are you’ll come across a special deal for acting immediately.
Urgency has been shown time and time again to prompt responses. Urgency and the fear of missing out make consumers act more impulsively. Urgency doesn’t even have to be subtle to work. You don’t need hidden subliminal messages. “Buy Now” works fine, just as “Today Only” works equally well. When it comes to urgency – simple is best.
Every mother thinks her children are beautiful, and everyone thinks they are special in one way or another. We all like the idea of being unique, one-of-a-kind. Nobody likes the idea of not living up to a standard, and we all hate the idea of missing out on the VIP treatment.
This idea of exclusivity is another powerful FOMO trigger. We all want that special price or special deal. This is another one where you don’t need to be too subtle. “Get Your Special Deal,” “Get The VIP Upgrade.” These have been shown to work, providing, of course, there is a special deal to be had. Don’t proclaim your special discount if you don’t actually have one to offer. Keep it real!
Get An Advantage
Getting something for next to nothing or getting some kind of special benefit is another powerful FOMO trigger. Who would say No to getting something that everyone else is paying for, for free? Who doesn’t like free shipping? Who doesn’t like getting an extra something for a nominal fee?
The flip side is losing that particular advantage. We’ve seen equally good results from campaigns that point out the positives of the specific advantage as campaigns that point out the negatives of missing that advantage. FOMO at its best!
Do you really think Apple sells millions of iPhones just because of the quality of their phones? Good as they might be, there are similarly specced smartphones from other manufacturers available at a fraction of the price of a new iPhone. Nobody pays $1,000 for the privilege of waiting outside a shop all night just because the iPhone takes good photos!
Peer pressure. Keeping up with the Joneses. Your favorite reality TV star has an iPhone, and you need one as well.
With peer pressure, you, more often than not, don’t even need a message. Sometimes just an image of that reality TV star with their iPhone is all it takes!
Are you looking for ways to incorporate FOMO in your campaigns? Reach out to us today, and we’ll get you up and running in less time than it takes to say Fear Of Missing Out!