How To Use Scarcity Marketing To Increase Business Sales
Smart business manages and marketers understand the fact that creating scarcity can so easily increase sales because of the associated sense of urgency. Scarcity marketing is highly effective but the big problem is that you cannot simply expect for scarcity to appear in a natural way. In order o drastically improve results, you will want to focus on creating that scarcity that helps you increase conversions and sales.
Contrary to what many believe, scarcity is something that you completely control. It does not matter what you do, ranging from offering SaaS services to selling WordPress widgets. You are the entity that controls customer acceptance and/or product/service production.
Perception is what dictates scarcity. You should never try to deceive people like pretend that you will run out of something when this is not actually the case. However, a perception shift can help you a lot more than you may believe. You can easily achieve this with the use of limits.
Setting Scarcity Limits
This is the easiest possible way to create scarcity with anything that you do. Remember that limits can easily be put on absolutely everything. When you are the decision maker, you have the right to add some sort of limit. In the event that you desire for a service or a product to be limited, it is your choice and you can do that.
Even as a consultant you can create some sort of scarcity through a limit that you set. For instance, you can easily add a limitation to the number of consultancy hours that are available at a discount during a month. When you sell SaaS or services, scarcity sense can be created by highlighting a limit for how many customers are accepted.
Scarcity limits can so easily be announced and highlighted. Just say that you accept 300 customers for a single month. It does not really matter that in reality you only have around 100 customers every month. Adding this limit visible will create the scarcity sense that you want to see so that potential clients can feel the scarcity.
Always Display Limitations
Any site or business that sells products has a stock. We thus have the most legitimate scarcity source that appears. You can easily see Amazon using a scarcity technique when product sales are promoted. They clearly highlight how many items remain in stock, creating this scarcity and the wish to buy as fast as possible from the clients.
If you have physical stocks, create some regulations about scarcity and how it will be highlighted for interested buyers. We see Groupon that is built around the system of scarcity and deals have limited time and quantity, with an extra limit of just one item for a customer. All this works great and you can end up with increased sales.
One of the easiest and most effective ways to create scarcity is to play with limits. The secret is to remain focused on actually creating a real scarcity. You should never use gimmicks. You want to be legitimate with everything that you do.