New Marketing Trend Alert: FOMO
Have you found yourself unable to relax on vacation because you just had to check Facebook to see what was going on back home? Are you often afraid you’re going to miss out on something good that your friends are doing? Find that you can’t stop checking Twitter every 5 minutes to see what’s going on? If you answered yes to any of these questions, you (and 56% of social media users) might have a case of FOMO. FOMO? What is FOMO, and how can you use it to your advantage in your marketing and advertising?
As described by JWTIntelligence, the phenomenon of FOMO (Fear of Missing Out) is “the uneasy and sometimes all-consuming feeling that you’re missing out-that your peers are doing, in the know about or in possession of more or something better than you.”
With all of the technology available to us, it is easier than ever to be connected no matter where you are or what you’re doing. And this is fueling the FOMO phenomenon. While FOMO may seem like a negative phenomenon, there are ways it can be used to our advantage, especially in marketing. For marketers in the Washington D.C. area, it is opening doors and allowing brands to tap into the FOMO mindset. Many companies are embracing FOMO and using it to their advantage to position products and increase sales.
I recently received the above promotional email from an online retailer that used the term FOMO as a marketing tactic. They acknowledged this trend and encouraged me to click on a button in order to keep receiving valuable emails from them. The email was simple, but it played on my FOMO. If I didn’t click the button, I would knowingly miss out on potentially compelling offers. And by clicking, I just reinforced my relationship with the retailer, which has customer engagement benefits for them. While you can directly instill FOMO in your target audience (like in my example above), there are many more ways to instill FOMO in less obvious ways.
To give you a better idea of how FOMO can be used as a marketing strategy, here are 3 ways to use FOMO as a marketing tool:
1.) Use FOMO to make an emotional connection
Making an emotional connection with your target audience has a powerful effect. Every day, the consumers you want to reach are bombarded by messages. To really make an impression and get their attention, make an emotional connection through FOMO.
2.) Use FOMO to build excitement around your products and services
FOMO can motivate consumers to do something and take action, when used in small doses. Use it to your advantage by teasing an event, a big sale, a giveaway, or the launch of a new product. Only give little bits of information that will create mystery and you’ll keep people coming back for more because they won’t want to miss out on the excellent event, product, or whatever is it you are marketing.
3.) Use FOMO to engage customers through social media
Share a special deal or offer an exclusive experience that your social media followers can’t refuse. Make it something they will feel the need to participate in or take advantage because it they don’t, they will miss out!
While FOMO may not be an appropriate tactic for every business, it is a marketing trend that every marketer should know about and could be part of an effective marketing strategy when properly utilized. As social media marketing continues to explode, the number of cases of FOMO will grow with it, and the more opportunities there will be to engage with consumers.
Since every Washington D.C. area business’s marketing strategy will be different and needs to be tailored to your business’s needs and goals, we’ve created a free eBook, The Marketing Strategy Model, to help you create the best marketing strategy for your business. Download The Marketing Strategy Model today and you’ll be able to determine if FOMO is a marketing trend you can utilize. Whether it is or not, you’ll be on your way to marketing success with The Marketing Strategy Model.