What is FOMO?
FOMO – the fear of missing out is that gnawing, anxious feeling we get when it looks like we’ll miss out on something – be that an event, and experience, or a product. It likely comes from our survival and self-preservation instinct, but can now be set off easily by social media and advertising. FOMO can really incentivise action, so it’s no wonder that marketers use it readily.
How Does FOMO Work?
Our fear of missing out gets alerted whenever there’s an attractive opportunity that feel we could miss out on. So flash sales only available for a limited time – sometimes even bolstered with a large, visible countdown timer – sets off our FOMO. Exclusivity and the sensation that we’re not a part of a privileged group also kicks our FOMO into high gear.
So how can you use FOMO? If you only have space for 5 more clients, then lead with that! You can build hype by limiting access by invite only, much like Gmail and Pinterest did when they started out – it adds that desirable dash of scarcity. What ideas can you come up with that use FOMO?