There are tons of acronyms in the marketing space—SEO, CPC, ROI, and so on—but there’s one acronym you may not expect to relate to marketing: FOMO.
FOMO stands for the “fear of missing out,” and it’s a popular term for lots of situations. If you’ve ever felt left out during a Friday night in, a trip you had to decline, or a new product launch you missed out on, you know how upsetting it is to believe that everyone else is enjoying something you’re not.
That last example is the key to FOMO’s connection to marketing. When consumers feel like they might be missing out if they don’t buy your product or service, they’re much more likely to commit to the purchase. That’s why so many businesses offer limited-time offers, surprise drops, or exclusive launches. When you feel pressure to be part of the “in” crowd, you’re more likely to purchase.
When done with care (more on this below), marketers can use FOMO to their advantage. If you’ve never considered how FOMO affects your audience, here’s exactly how to bring FOMO into the equation.
Understanding FOMO
At its core, FOMO capitalizes on our intrinsic need to belong. It goes back to evolution itself—being part of the group improves our chances of survival. Today, though, this fear of missing out on something exciting or valuable has serious implications on consumer behavior and decision-making.
One critical aspect of FOMO is its connection to the concept of social proof, the idea that people tend to follow the actions of others. Imagine walking past two restaurants: one is bustling with customers, while the other is empty. If you don’t know anything else about the restaurants, you’ll probably want to join the crowd at the busy spot. That’s the power of social proof in action.
For customers who are hovering on the brink of a purchase decision, FOMO can be the gentle nudge that gets them to convert. It’s that same subtle reminder that other people are experiencing something great, and they want to be a part of it too.
With that in mind, it makes sense that FOMO is such an effective marketing tool. If you’re struggling with conversion, it may be the perfect framing for your next campaign.
Creating FOMO-Inducing Video Content
Video content is the perfect medium for FOMO-inducing. It forges a deeper connection with your audience than text or image-based content, and it’s more engaging. These benefits work in your favor, but not every video will succeed at introducing FOMO. Here are five tips to get it right.
1. Craft a compelling narrative that evokes curiosity.
Storytelling captivates audiences, leaving them waiting for more. A well-crafted narrative should engage your viewers on an emotional level, giving them a sense of intrigue and curiosity. By the time the video ends, they should be eager to explore further.
2. Showcase limited-time offers, exclusive deals, or promotions.
Highlighting scarcity intensifies the FOMO feeling for consumers. If you go this route, make it clear that the offer presented in your video is only available for a limited time. Use phrases like “act now” or “while supplies last” to create that sense of urgency, compelling viewers to take immediate action before the opportunity slips away.
3. Use storytelling techniques to build anticipation.
A well-told story creates an emotional connection with your audience and keeps viewers engaged. As you unveil the narrative in your video, strategically leave certain details or outcomes for later, creating anticipation. This anticipation drives viewers to want more, motivating them to explore your product or service on their own when the video ends.
4. Incorporate countdown timers in video marketing.
A ticking clock is another way to drive consumers to purchase. Countdown timers remind viewers that time is running out, introducing the potential for FOMO if they’re too late to purchase. The clock itself makes the FOMO more palpable, and it’s a helpful visual aid for viewers to understand how long they have to commit.
5. Tease upcoming releases or product launches.
Finally, giving a sneak peek of what’s on the horizon gives consumers time to build excitement. Teasing your next release creates buzz and a desire to be among the first to experience it. FOMO drives your audience to stay ahead of the curve and prepare to purchase right away.
Employing Call to Action (CTA) Strategies
Once you’ve effectively instilled FOMO in your video content, your next step is to guide viewers towards action. CTAs are pivotal here. They should be persuasive, emphasizing the urgency of acting right away. Make sure your audience knows exactly how to proceed post-viewing, eliminating any barriers that could disrupt their purchasing momentum.
More importantly, your CTA should align with the FOMO-inducing elements within your video. If you’ve highlighted a limited-time offer, make sure the CTA emphasizes the urgency to act now. If you’ve teased an upcoming product launch, direct viewers to a signup page to be among the first to receive updates.
Leveraging User-Generated FOMO
Creating FOMO in your own content is one approach marketers can take, but a lot of businesses forget that FOMO exists in user-generated content (UGC), too.
If you’re tracking and using your UGC effectively, your satisfied customers can be your UGC champions. When they rave about their positive experiences with your products or services, potential customers feel they’re missing out.
By promoting and encouraging user-generated content (UGC) and testimonials, you remind your own audience of the value that others derive from your brand. This authentic feedback serves as compelling evidence that they need to join the crowd.
Using Social Proof and Influencer Endorsements
Similarly, influencers hold incredible power in the digital age. Influencers are great at creating FOMO because they already have a captive audience that wants to live like they do, so their endorsements help bring reach and credibility to your brand.
Another outside source to consider is your customer review platforms, either via third-party sites or your own sales pages. When prospective customers see positive feedback from others, it reinforces the idea that they might be missing out if they don’t commit.
Ethical Considerations in FOMO Marketing
As with many marketing tactics, there’s a fine line between using FOMO as a sales strategy and exploiting your audience. While FOMO is a powerful tool, it’s important to strike a balance between FOMO and customer trust and satisfaction.
Remember that FOMO along won’t help you build a successful brand. Even if it does drive short-term sales, unless you have the trust and results to back it up, you’ll lose those customers down the line—and damage your reputation. Be transparent with customers about what they can and can’t expect from your brand, and don’t make promises you can’t keep. FOMO isn’t a substitute for an effective product or service!
Final Thoughts
If you’ve never considered how FOMO plays into your marketing strategy, this is your cue to help your audience understand where they might be missing out.
Just remember that FOMO-inducing content is one small part of a holistic business strategy. If you haven’t solidified the rest of your approach to marketing, sales, and customer satisfaction, start there first! Need help? We’re experts at producing video content that capture audiences’ emotions.
