Applying Scarcity Marketing In Your Advertising Strategy
Scarcity Marketing & How You Can Apply To Drive Sales On Your Website For Your Advertising Strategy In my last article called Engaging Digital Marketing & Social Media Tactics That Influence, Building Social Proof Can Benefit Your Online Business, I talk about how social proof can benefit your online marketing goals. Now I will talk about how your website can benefit from use of the scarcity principle which on in my first article The 6 Weapons Of Influence For Website Engagement & Marketing. What Is Scarcity & How Can It Be Applied To Your Advertising Goals. The psychology of scarcity in business is a potent factor, which can be used to increase sales significantly if used right. You may have encountered scarcity to some effect, perhaps, you’ve sensed a feeling of such in on some website or probably tried it in your own business. It is essential to understand how it works in the minds of the consumers or clients to have a better picture of how it can be optimized to get a better result. However, scarcity is simply defined as the limited availability of a product or service. When a product is in short supply, it has a unique effect on the human mind, and once this unique effect is found, it can be used as a significant advantage in getting people to buy into your ideas and into your business. The fear of missing out on an offer is an advertising strategy businessman and marketer create to affect the mind of the consumers to make more sales or close more deals. How Is Scarcity Effective For Your Digital Marketing Strategy? Scarcity motivates customers to buy products because they see that everyone else is buying it which makes them feel it’s a good one to buy. They will react by taking advantage when they see messages such as, “Limited Edition,” “Almost Gone,” “Exclusive Product” and the likes. As a result, the more scarce or rare a product is, the more a person is compelled to buy it. While setting up Ads or launching products, Below are a few ways to implement the scarcity strategy to increase sales right: Create a feeling of scarcity The first thing you need to do when using a scarcity strategy is to create a scarcity of your products. Even though you have a store full of products, you need to make it scarce by keeping some out of the store. You can also encourage instant purchases to limit the number of products that are up for sale. Use Countdowns & Timers To Get More Sales For A Website Marketing Strategy Making use of countdown and timer is one of the best ways to communicate to the market your products is scarce. They can either subscribe to a service or purchase a particular product at a sales price before the countdown ends. As the numbers tick down towards zero, the timer reinforces the sense of urgency. With a limited amount of time to buy, many shoppers feel the urge to buy. You can make use of sales countdown, purchase countdown, shipping countdown. Limited Stock/Production: Often, limited stock is not always from the high demand for a service or products. It can be a sales strategy to seek urgency. Use Numbers To Indicate Demand: Sharing facts and stats in numbers is another indicator of social proof and gives your products more attention. It adds transparency as well. Use Emails For Your Digital Marketing Campaign Emails are the best shot to communicate to your customers most especially those that don’t visit your website daily. You need emails to reach out to your customers and prospects – directly. To back up the offer, you’re making on your website and social media, create an email campaign to notify them of the limited-time promotions that are going on. “We always want more of the things we can have less of.” —Robert Cialdini Whenever you’re running a campaign, if you’re not using scarcity, not giving people a reason to buy right now, You will be losing out on a lot of potential sales because you have to factor other things your customer might be when they’re on your products or your campaign, maybe there are in a cinema or running pieces of stuff while shopping online. You need to realize there are so many distractions, so when you are marketing, you have to really understand that. You need to get them to want to buy your products and give them a reason to buy right now. You can only do this by creating a sense of urgency, and in the process creating a fear of missing out and want to purchase or take action at that moment. Increase Sales For Your Business Using Scarcity You may think the smartest and most conventional thing to do as a sales manager is to show customers how much they save. Everybody does it, right? But how effective is it? It’s tough to determine. Take for a test, and be honest with yourself. Which of the following are you more compelled to move toward? • Shop and save up to $20 – $35 every time you shop at Budget Meats. We have the best meat specials • You’re losing $20 – $35 every time you shop anyplace else other than Budget Meats. We have the best meat specials People respond in your favor by telling them what they’re missing out on rather than telling them what benefits they stand to gain because loss looms larger than gains. What’s more powerful is a combination of both to enhance the value. Once you got their attention, be specific! They might see value in the offer but there is no rush. Make it urgent. There is no point in making an offer if you don’t want almost instant compliance. Do you think people would love your offer so much that they go home and sleep on it? Out of sight, out of mind. You need to
Social Proof & Digital Marketing Strategy
[embedyt] https://www.youtube.com/watch?v=IR8Gm-p7MhU[/embedyt] Engaging Digital Marketing & Social Media Tactics That Influence, Building Social Proof Can Benefit Your Online Business In my article “The Psychology On Influence & How It Helps With Your Website & Digital Marketing , I talk about 6 weapons of influence and how they can apply to your website engagement and digital marketing strategy . They are scarcity, reciprocity, linking, commitment and consistency, social proof , & authority. I will break down each of these tools of influence to go into more detail as to how you can. Apply them to your digital markting strategy so you can make conver sales foe your business. In this article I will talk about social proof. What is social proof? How Can it benefit your digital marketing strategy ? Social Proof is the idea that people tend to follow the actions of others to undertake the behavior in a particular situation. In other words we tend to assume that other people have better knowledge then us about about something . This is very powerful, because when were trying to deciede to use a particular product or services, we will tend to listen what other people are saying when making a buying decision. If this principle is applied properly to your website and digital marketing strategy, you can make make more sales for your business. There are 7 Elemenets of Social Proof that your apply to your digital marketing and website design . There are: Word Of Mouth Reviews Testimoinals Featured Client Logos Endorsements Media Turning the site visitors into permanent loyal customers is always a top priority for most of the brand websites. Social Proof is a powerful tool that can help you achieve the dream of turning visitors into customers. Social proof implementation will help visitors understand why other people like the product you are willing to sell. There are a number of well-tested methodologies that have made social proof an important factor when it comes to converting the visitors landing on your web page into the business. Word Of Mouth Digital Marketing Strategy Word-of-Mouth Campaign: Referral programs are among the most effective way of improving your brand popularity. Word-of-mouth advertising is considered to be more effective since your friends and relatives are getting feedback on the hands-on experience on the product they intend to buy from you. Most of the businesses offer various incentives and discounts to visitors who refer their friends and colleagues to buy the company product and services. By rewarding the visitors with gifts or discounts for each referral, there is no loss that the company will have to incur since the gifts are rewarded only after the referrals become their customers. Reviews From Your Customers On Google & Other Citations Can Help Influence your Audience Reviews: Customer reviews are the most-watched segment by visitors especially before making any online purchases. It is the only way one could get a feel of how worth the product would be once they buy it. Customer reviews are real-insights about the product the visitors would wish to purchase. Good customer reviews or average customer reviews about the product or services offered by a company are likely to encourage visitors more in to opting for the service or purchasing the product. The credibility is high for customer reviews since a user will have to create a profile of their own before writing a review. Testimonials Can Help Your Customers Make Buying Decision Testimonials: Testimonials have an important role as a social proof tool. Testimonials on your website cannot be taken lightly. Most of the studies suggest the presence of testimonials to increase the chances of business almost by 50% rather than without one. It has always shown better conversion rates whenever testimonials are included within your website. It gives a clear picture of how users have felt using the products and services offered by the company. If the product is really good, good reviews will be posted. Adding a photo of the person who has posted the testimonials will further increase the chances of lead conversions. Logos Of Your Clients On Your Website Or Websites Where You Have Done Guest Post, Are Another Form Of Social Proof Feature Client Logos: It is good to include the client details within the website. However, including the name merely within the content can go unrecognized since there is no guarantee that visitors would read the copy. Logos of the client company is the most suitable way to make visitors recognize your reputed clients. The key benefits of placing a logo are its instant recognition. Get Other People Like Experts Or Celebrities To Endorse Your Website Endorsements: Endorsement of your product or services by a popular celebrity can have a greater impact on the lead conversion rates. Choose a celebrity who is related to the field of business you are dealing with. Send a sample of your product and request for a recommendation. If it works, then you have a popular celebrity endorsing your product and taking your product’s popularity towards a larger community of audiences. Content Marketing Such AS Videos & Blogging Is Another Way To Promote Your Brand Media: High-quality content can enhance your brand popularity and lead to better conversions. If you think your product is unique and is much useful compared to others, then write a few articles and submit it with some of the popular publications. If the readers feel it as genuine and not too promotional, they are likely to use the product or service offered by you and thereby improving the lead conversion rates of your business. Another form of content you can use to promote your brand is video, using services such as Youtube and Vimeo you can create creative content that promotes your brand or service in a creative way. Conclusion Social proof helps those who are still unclear or confused about whether to buy your product do so without a second thought. Social proof is a confirmation required for the visitors to
Psychology of Influence and How it Helps Your Website
Psychology of Influence and How it Helps Your Website Engagement & Online Marketing An effective website design pulls the reader in and uses influential design principles to guide visitors into following a course of action. This professional Arizona web design company knows how to build influential website designs. Every website they create makes good use of the following psychological principles to close more sales or pull in more leads. [embedyt] https://www.youtube.com/watch?v=gtgQd0raXb4[/embedyt] 1.Social Proof 2. Liking 3. Establish Authority 4. Create Scarcity 5. Inspire Reciprocity 6. Commitment and Consistency 1. Developing Social Proof Social proof is all about getting people comfortable with your offer by showing that other people use your product or service and get benefits and value from it. Good examples of social proof include a Facebook page with an engaged community or testimonials from an industry expert. When people see an industry expert talking about your product – who they may already know and trust – the credibility of your company goes up. Reviews by real customers are also a powerful form of social proof and are an easy addition for your Arizona web design company to include on your page. Prospects will often seek out reviews on Google reviews and research them on the various trade directories where your company may have a listing. Examples include: Verified customer reviews Endorsements from industry experts Visible engagement metrics on social media Adding review widgets, video testimonials, or “featured on” logos helps communicate credibility—something your Phoenix AZ web design team can easily integrate into your landing pages. 2. Getting People to Like You When we talk about getting people to like you, we are referring to establishing a connection with your audience. For instance, you could create a landing page featuring a video testimonial about how and why you developed your product or service. In the video, you can relate to the viewer by telling them how you were once in their position and decided to do something about it. You solved your problem and realized other people would be in the same situation and desperately seeking a solution. So, you created your product to help more people. Tell a story so your prospects can get to know and like you better. You can tell a story through text, but a video will have a more significant impact. Don’t spend too long explaining yourself, or take a long-winded route getting to the point. Your goal is to get your prospects to like you, which won’t happen if you bore them so much they leave your site. Essentially, you want to show your viewer that you were once in their shoes, and you know what it will take to pull them out of their current predicament. Tactics to build likeability: Add authentic founder or customer journey videos Share origin stories that relate to user pain points Use storytelling techniques in your content 3. Establish Authority People trust authority figures more, but how do you use your website to establish this highly sought-after online commodity? One way to build authority is to post great content that is actionable and solves a problem. When you give value-adding information away for free, people will see that you know how to solve problems and get things done. If your free content is high-quality, then you will build confidence that your paid stuff must be even better. How to build authority: Publish high-quality, problem-solving blog content Feature media appearances, certifications, or partnerships Create content hubs showcasing in-depth expertise 4. Create Scarcity Creating scarcity as a sales tactic is often overused, and it can damage your brand if you don’t get it right. When you generate scarcity for your product or service, you want to make sure you are genuine. For instance, reducing the price of a product for a limited time is a form of scarcity. It’s a common strategy to attract buyers and generate some buzz about a new product. However, you will need to raise the prices when you say you are going to raise them. Another way you could generate a sense of scarcity is to sell an old model at a heavily discounted price to make way for a new model. You only have a few of the earlier models left. If you have an informational product (eBook, PDF, etc.), you could advertise that it will soon be updated, but you will be raising the price when the new revision comes out. Anybody who buys now at the lower price will be guaranteed access to the latest book when it’s published, but they have a limited time to act. If you teach a skill online, scarcity is created when you re-open your course for new students. Your time and availability are limited, and you can only serve so many at a time. The above are just a few of the ways you can generate scarcity on your landing page. Your Arizona web design company will have many more ideas, so be sure to ask when you check in with them. Effective scarcity strategies: Limited-time discounts Low stock alerts Seasonal or phased service offerings 5. Inspire Reciprocity People love to return a favor, and you can take advantage of this trait of humanity on your website. Let’s say your competitors are selling a similar product, but all they have is a sales page. The prospect continues researching and lands on your site to see that you have taken the trouble to create a blog full of information, tips, and tricks. If the reader uses your content to solve at least part of their problem, then they will be more inclined to order from you through the power of reciprocity. They have already received value from you without spending anything. You can also use reciprocity to influence sales through free demos or repeated contact through an email campaign after a lead enters your sales funnel. Make the visitor feel they have already received lots of value from you, and you will move them