It’s known as FOMO, a millennial term which stands for “fear of missing out.” It represents the fear of not being included in something, such as an interesting or enjoyable activity that others are experiencing. Or in your instance, missing out on a good deal or big event. The truth is that in today’s society, FOMO is very real, very powerful and something you should be evoking in your marketing strategy.
Simply stated….create urgency in your marketing strategy to get your online audience to take action!
Let’s talk about FOMO and how it applies to your business and the opportunity that you may be missing out on. Whether you like to admit it or not, social media has changed our culture. It’s society’s go-to for interacting, sharing and consuming content. Internet users don’t want to miss anything! And staying up to date is key, which is why your social media newsfeed is constantly updating and news stories are going viral. We have so many ways to communicate whether it’s Facebook, Twitter or the social media platform of your preference. And the best part? It’s right in the palm of our hands almost 24/7.
Now, let’s get to the opportunity part! As business owners, it’s no secret that marketing trends are shifting to the digital spectrum and it’s time to take notice. How can you best utilize FOMO? One way is to limit the amount of time an offer is available. Limited time deals have been around for ages, but social media completely revolutionizes the value of those offers. Getting users to interact with your content is very important. Find the right way to motivate your customers to share your content. Think about FOMO and how this can affect the content that you are sharing. It’s very similar to peer pressure. When people see that their friends are purchasing something, they may decide to purchase the same item (thanks to FOMO).
Are you placing emphasis on your FOMO marketing? If not, you could be missing out on an incredible opportunity to captivate and better yet, motivate your social media audience, particularly millennials. FOMO can drive sales, engagement and increase brand awareness. With 2017 rapidly approaching, think of ways that you can capitalize on the “fear of missing out” and go for it!