Scarcity marketing: Does it still work?

SEM

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These days, everything seems to be about ease, convenience and availability. With a few clicks, you can get almost anything (groceries, clothes, transportation…you name it!) sent to your home.

If people can’t get what from one business, another option is just a few more clicks away – so why wait?

In this climate, it seems like scarcity marketing should be a thing of the past. However, this couldn’t be further from the truth. As it turns out, having so much surplus makes people much more competitive over limited resources. So, if you do it right, scarcity marketing can actually be an incredibly powerful way to sell your products or services.

With all that in mind, let’s talk about scarcity marketing and how to use it effectively with today’s “I want it now” consumers.

How scarcity marketing works

Scarcity marketing is based on one very simple, primal principle: fear motivates people to act. This can be fear of almost anything: fear of missing out, fear of social embarrassment, fear of inadequacy…you get the idea.

Take the Disney Vault, for example. For decades, Disney has locked away its classic movies for years at a time. Then, every so often, they open the vault and re-release certain titles —

Read from Channel: SEM – Marketing Land

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