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Scarcity marketing, what it is and how to generate more sales with exclusivity
What is scarcity marketing?
Scarcity marketing is a marketing strategy based on the principle that people want things that are difficult to obtain. Therefore, the brand creates a kind of "artificial scarcity" to encourage nicaragua email address for a product or service.
Common examples of scarcity marketing include invitation-only events or products that are only distributed to specific people. For example, a clothing brand might organize an exclusive launch for influencers only before making the item available to the general public. Or generate an exclusive code for brand followers for a specific period.
Scarcity marketing example
Scarcity marketing is also widely used in the technology sector. Apple is a great example, as it gets people to queue up all night to be among the first to get their hands on the latest iPhone. Luxury goods and collectibles are also good examples of this type of strategy.
7 scarcity marketing techniques to boost your sales
Countdowns . If the user knows that they have a limited amount of time to make a purchase decision, they will be more likely to take action. For example, you can set a countdown such as "This offer ends in 2 hours and 55 minutes."
Products with limited stocks. From Pepsi Crystal to Heinz purple ketchup (yes, really), marketing history is full of examples of products whose greatest virtue is being limited edition.
Display stock inventory. If a product is low on stock, make sure to display that information prominently on the checkout page. Fear of running out of something is one of the scarcity marketing techniques that never fails.
Seasonal offers. Black Friday specials or Starbucks holiday drinks are another great example of scarcity marketing. By being available only on specific dates, users have an extra incentive to buy.
