The fear of missing out aka ‘FOMO’ is a well-known phenomenon in the social media age.
Research has shown that 33% of Millenials have tried to use FOMO to make their peers feel like they are missing out on social events, travel, and more.
Not wanting to miss out on the latest trends, events, and posts is a major driving force that makes social platforms like Facebook, Twitter and Instagram so popular.
It’s not just individuals that invoke FOMO but brands and organizations can too. FOMO can be a powerful way to drive purchase intent, but it’s not always easy to produce.
One example of where a brand can invoke FOMO is by engaging with their existing customers who can present perfect images of their experiences, their holidays, and their purchases, that can in turn influence and inspire others to seek out your products and services.
Here are a few key ideas on how to inspire FOMO with your products and campaigns to boost your marketing efforts.
The 3 main ways people experience FOMO are:
- The fear of missing out on a deal
- Feeling pressure to keep up with trends or their peers
- Feeling discontent when missing out on a shared experience
Here are a few examples of how these can be brought to life online.
Induce FOMO on your e-commerce website by showing stock levels so buyers can see that stock is limited and will run out eventually if they don’t make a purchase sooner rather than later.
Create content that has a time limit and expires. Encourage users to engage with your content before it expires. Time-sensitive content could include sale items or other special offers such as free shipping that encourage quick action.
Events are a great way to create FOMO. By creating a limited guest list and making the event so good people share their experience on social media. People will see what they are missing out on, and you can offer complementary experiences or incentives to join future events and mailing lists.