Scarcity is what happens when there is less supply of something than there is demand. It’s a big part of what makes thing valuable and can be used to improve conversions.
Some classic ways you can create a sense of urgency:
- “Only 2 left in stock!”
- “100 spots will be available, 70% booked”
- “Only 20 tickets left for the grand prize”
This gives people the sense that:
- whatever is on offer must be good (social proof)
- if they don’t act soon, it will all be gone.
You can incorporate this tactic in your advertisements and promotions. Just don’t lie – you could run into legal issues with serious fines/penalties and customers hate being lied to. Simply limit whatever it is that’s on offer and advertise it that way.
- Ease: Easy
- Cost: Free
- Scope: Medium
- Speed: Quick
- Reach: Global