The Weapons of Influence: Scarcity
The Weapons of Influence have been a psychological lever marketers use to affect the decision-making of consumers around the world. One of which includes scarcity: those limited time offers to limited edition products that seem to draw us in because of their exclusivity.
A great example of a big company that has used this weapon of influence is Nintendo with their recent release of the Nintendo Switch Console. It became so exclusive that lotteries were held in Japan where consumers only had a 1 in 10 chance of purchasing the item. With this, the company saw an increase of 175% in their sales all through the strategic use of scarcity.
So how can marketers make it big and increase the demand of products and services?
Exclusive Deals
Consumers find products or services to be more attractive when their availability is exclusive. Offer some "member-only" deals that will give your product a heightened sense of value.
Publicize Your Supply
Let it be known that your supply is low, demand is high, and things are selling out fast. Customers will feel more inclined to purchase if they fell the might miss the opportunity.
Sale Deadlines
Give your consumers a deadline to when they can purchase a product or a service. A sense of urgency plays a great deal in their desire to avoid any potential losses.
How else would you use this weapon of influence as a marketer?
A great example of a big company that has used this weapon of influence is Nintendo with their recent release of the Nintendo Switch Console. It became so exclusive that lotteries were held in Japan where consumers only had a 1 in 10 chance of purchasing the item. With this, the company saw an increase of 175% in their sales all through the strategic use of scarcity.
So how can marketers make it big and increase the demand of products and services?
Exclusive Deals
Consumers find products or services to be more attractive when their availability is exclusive. Offer some "member-only" deals that will give your product a heightened sense of value.
Publicize Your Supply
Let it be known that your supply is low, demand is high, and things are selling out fast. Customers will feel more inclined to purchase if they fell the might miss the opportunity.
Sale Deadlines
Give your consumers a deadline to when they can purchase a product or a service. A sense of urgency plays a great deal in their desire to avoid any potential losses.
How else would you use this weapon of influence as a marketer?
-
affmarketer101 -
Thanks - Reply
{{ DiscussionBoard.errors[11338572].message }} -