You’re probably familiar with video marketing, email marketing, and influencer marketing. But if you haven’t heard of “Fear of Missing Out” Marketing – or better put, FOMO Marketing, you’re definitely missing out!
Just as it sounds, FOMO Marketing uses customers’ FOMO, or fear of missing out, to attract brand attention, drive website traffic, and ultimately increase sales. It’s effective because all of us have felt FOMO before.
Young people feel FOMO particularly strongly. Eventbrite estimates that 69% of millennials have experienced FOMO, and an additional 33% have tried to make others feel FOMO. Businesses can use these feelings of jealousy, sadness, or even anger to achieve some pretty favorable outcomes.
For example, your business can host an event and capitalize on FOMO Marketing. If you limit the number of people who can attend the event and create highly shareable experiences for those who do attend, you can elicit strong feelings of FOMO among those who are at home. Additionally, you can livestream gift giveaways at the event to show people at home what they’re missing out on. Often, this FOMO can lead to increased sales for your business.
You can also use FOMO Marketing when developing your social media strategy and building your website. Experiment with letting your content expire after a given amount of time or try showing products’ stock levels to create a sense of urgency among online customers.
Check out this infographic from Fundera that explains 9 ways you can use FOMO Marketing in your business.
