What is FOMO in business and its strategies?

What is FOMO in business and what are its strategies?

The simple definition of FOMO (FOMO = fear of missing out) is the fear of losing valuable and enjoyable experiences that you have left behind.

Who can use this fear in all kinds of advertising?

Are you looking for Fomo marketing examples so that you can increase site sales and increase site visits?

Congratulations if you chose Fomo Ads. Because you are going to make a big change in your business.

Fomo in Business is a great way to get your visitors excited about your products and services.

As we mentioned, FOMO means the fear of missing out on experiences that others benefited from and we were the only spectators. No one likes to feel left behind.

Fomo marketing is a message that removes the inherent fear of your audience to force them to take action.

Why should we use FOMO in marketing?

Let's take a look at some FOMO statistics to get a better understanding of the effectiveness of FOMO marketing campaigns.

• 69% of people these days experience this phenomenon.

• 60% make reactive purchases because of FOMO. In other words, they buy something just because they feel that they might lose it.

• 56% of people suffer from virtual network FOMO , while we have 3 billion active users in the virtual space, and this means a potential platform for using this technique in marketing.

Now let's review some effective examples of FOMO marketing together so that we can use this important marketing strategy in the best way.

Types of FOMO marketing methods in business

In the following, we will talk more about FOMO marketing and explain its types to you.

1- Show that people are buying

Some of the most effective examples of FOMO in business are creating the feeling, without the action, of buying. But we don't want that.

These days it is not uncommon to see live sales information when visiting a website.

If your site visitors know that real people are buying or using your services, they will be more likely to buy.

2- Highlight the missed opportunities

A site that has worked very well in using this tactic is (Booking). This site has several examples of FOMO. In the pattern of this site, the focus is on increasing FOMO and it shows that visitors are actually missing out on a lot.

On this site, highlighting the finished products will show you that the beauty is being completed, and if you need it, you should hurry!

3- Display the inventory of the warehouse

Scarcity is one of the main components of FOMO marketing; Because if something is ending, there is a lot of motivation to get it. There are many ways to show deficiency.

For example, Amazon always displays some of the remaining products in the warehouse to encourage the visitor to buy.

4- Show visitors the remaining time

When you think about how to create FOMO in business, put urgency at the top of your agenda. This is a tactic called loss aversion. If your visitors think that they are losing their shopping opportunity by wasting time, they will probably buy much faster and earlier than they think.

Show this by offering a variety of discounts on different days of the week or by creating a countdown like the Instagram countdown.

5- Stimulate their competitive spirit

Not only do we not like to miss an opportunity, but we also hate that others may get a great opportunity before us; For this reason, good Fomo advertising campaigns make the audience act by creating this feeling.

Or, for example, you can show the number of people who bought. The same thing that most online stores do.

6- Limit free shipping

Did you know that about 90% of buyers consider free shipping as their main motivation for buying? This is one of the reasons why Fomo marketing campaigns that limit free shipping can be really effective.

7- Be clear about FOMO

You don't have to hide the fact that you're using FOMO marketing. You can talk about it openly.

Be honest and upfront about how you market so users feel comfortable with you.

8- Warning for product and service expiration

Many content marketing strategies are about creating content that is sustainable around you. So you can use it to build authority, get inbound links, improve your search rankings, and attract customers.

But there is another way to attract visitors' attention using the FOMO marketing tactic: product expiration!

Expiring content combines urgency, scarcity, and exclusivity to increase the FOMO atmosphere in the business.

Software companies usually use this principle when they plan to change their pricing plans and give users the opportunity to order at the old price before it's too late.

9- Show Fomo with pictures

People respond to images that they can visualize. Therefore, when creating Fomo marketing campaigns, using images is essential. Express is a good example of this.

10- Make your offer unique

There is no such thing as a Fomo monopoly. As human beings, we are thinking of getting an opportunity that few people use.

Make all offers unique and attractive to your target audience to attract more customers.

11- Share the experiences of your customers

Another way to use FOMO strategies in business is to share the experiences of others. The use of user-generated content (UGC) allows visitors and potential customers to periodically participate in the use of your products and services; So they also want to do this.

After all, real proof from real people is much more attractive than any advertising model.

Display users' opinions about products so that other users can see them.

12- Consider a gift for quick purchases

Free gifts are a good way to attract customers. However, you can make this even more effective than before by limiting your gifts.

We have seen concrete and offline examples many times. For example, when stores give gifts or special discounts to the first 100 customers, this leads more than hundreds of people to buy.

13- Boost Fomo marketing with email

Email marketing is still a great way to reach customers. The summary of our email marketing statistics shows that email marketing has worked for about 90% of people; So it is a great tool for FOMO marketing activities.

You can use email marketing effectively with any of the FOMO marketing examples discussed in this article. for example:

• Email subscribers about exclusive deals or prizes.

• Email your users that their saved items are about to expire.

• Remind them of the items in the cart with cart abandonment messages.

•        And…

You can even offer a special deal to subscribers who follow a link by sending Fomo messages through a pop-up marketing campaign.

Now you can use these FOMO examples in your business to get more sales from your visitors and customers.