No one likes to feel like they’re missing out on something. FOMO, or the fear of missing out, is a very real psychological phenomenon, and it affects us all.
Feelings of FOMO are especially strong among millennials and young people who use social media constantly. One survey by event management and ticketing website Eventbrite found that 69% of millennials experience FOMO. Additionally, 33% of millennials say they have purposely tried to make others feel FOMO.
If you scroll through Facebook, see that your best friend did something really fun without you, and wish you were there, you’ve experienced FOMO. And the feelings of jealousy, envy, or even sadness that accompany FOMO are not pleasant. But FOMO presents a really good opportunity for your business’s marketing strategy.
The whole idea behind FOMO Marketing is that customers will purchase items out of fear of missing out on a deal, spend more in order to keep up with their friends, or just fear missing out on a shared experience.
You can use FOMO Marketing at events your business hosts, on social media, or even when deciding how to build your website. From hosting exclusive events and live-streaming prize giveaways to letting your content expire and showing stock levels online, there are plenty of creative ways to tap into customers’ FOMO.
Check out this infographic created by Fundera to learn ways to incorporate FOMO Marketing into your marketing strategy.
Please include attribution to fundera.com with this graphic.