5 eCommerce FOMO Techniques To Drive More Sales
Are you looking for FOMO eCommerce techniques to drive more sales? FOMO marketing is a way to make more visitors buy from you. However, there is a technique to implement it correctly, otherwise, it can even go wrong.
“FOMO” means the fear of missing out. It’s a psychological term that tells about your audience’s innate fear of missing out in order to make them more likely to take action. In this article, we will see some of the eCommerce FOMO techniques that’ll help you to use this strategy the right way.
According to stats, FOMO is the most popular technique among entrepreneurs. Around 60% of businesses make use of this FOMO technique to improve their customer targeting.
Let’s look at some FOMO tactics.
When you showcase your best-selling products to customers, it will give them a positive feeling about your brand. This is a FOMO technique too. After all, when you see a nice product that other people are buying, you’ll want to buy it for yourself. Be sure to display the best-selling products on your website.
The element of scarcity is the main component of FOMO marketing. It shows if something’s about to run out of stock, there’s a scope to get it done now. There are many ways to generate a sense of scarcity among customers. For online store owners, you can show stock levels, similar to Amazon and Flipkart. You can apply the FOMO technique with the right information and messaging, that suggests that your product or service is about to run out or disappear.
When creating a FOMO, you can also look into the tactic that tells about loss aversion. Let’s assume, when your website visitors know they’ll miss out on a deal by running out of time, they’re more likely to reach you to make a purchase. You can do this with appropriate messaging about when deals end or by offering information about different discount levels on different days.
Not only do you have to focus on the factor of missing out, but also focus on the competition factor. This is why FOMO marketing plays an important role to inspire this action. For example, you can display how many people are viewing a product on your website. Or you could show the number of people who’ve already taken an offer or discount from your site.
You can even show the number of users registered for a particular product. The e-commerce companies often use FOMO techniques to maintain a positive competition spirit among customers and make them buy desirable products.
Do you know most shoppers in India offer free shipping to their customers? This is their prime offer for buying online. Free shipping can be really effective to market your products or brand. The concept of FOMO is when buyers feel they’ll miss out on free shipping offers by not making a purchase. But if you display this information, they’ll likely make a purchase, especially if the shipping expenditure is zero or relatively less.
Let your customers know about free shipping offers by placing this information on a banner at the top of your web page. You have to keep your customers well-informed. These are 5 important techniques for inducing FOMO in your online store. They include everything from offering special discounts to displaying product information, fear of missing out on a deal, etc.