Summary
- I learned that Amazon made $12.7 billion in just 48 hours by using simple psychology tricks.
- Scarcity is key; saying "only two left in stock" makes people feel they might miss out.
- Urgency works; a message like "deal ends in X number of hours" pushes people to act quickly.
- Social proof is powerful; if "thousands of people just bought this in the last few hours," others will want to join in.
- It's not just about offering discounts; focus on creating a fear of missing out (FOMO) to boost sales.
- Remember that everyone feels FOMO, but not everyone uses it to their advantage in marketing.
Video
How To Take Action
I would suggest implementing scarcity in your business by highlighting limited stock levels. For example, if you have only a few items left, inform your customers by saying something like, "Hurry, only two left!" This can make them feel like they might miss out, prompting quicker purchases.
A good way of using urgency is by creating time-sensitive offers. You can set a deadline, such as "Offer ends in 24 hours," to encourage immediate action. This can apply to both online and in-store promotions.
Integrating social proof into your strategy can boost your sales significantly. Mention how many people recently purchased a product, like "Join the thousands who bought this today". This affirmation acts as a powerful motivator for others to buy, making them feel part of a trend.
To create a strong FOMO effect, focus less on discounts and more on the experience or exclusivity of buying now. Share testimonials or success stories to emphasize the benefits others have already experienced with your product or service.
Lastly, always look at your marketing through a FOMO lens. Consider how you can make your offerings appear unique and unavailable elsewhere. By consistently leveraging these psychology triggers, you can aim for faster sales and growth without spending a lot of money or time.
Full Transcript
Amazon just revealed how they made 12.7 billion in 48 hours using basic psychology most people believe that hey if you throw up sales people are going to buy from you but every day you see sales and how often do you purchase those products what Amazon did was leveraging these three psychology triggers number one scarcity only two left in stock number two urgency deal ends in X number of hours number three social proof thousands of people just bought this in the last few hours it's not about discounts it's about foom up how can you create the fear of missing out with your marketing that's how you'll generate sales faster sales everyone has that fomo not too many people leverage that
