Now what a scarcity.
Well if you ever have experienced a Black Friday or another holiday sale then you might have a clue
what it is.
Scarcity is basically when it's shortage of supply in comparison to the demand.
Let me explain what this means.
Let's say that today was the last day that you and everyone else in the world can buy chocolate.
How many pieces of chocolate would you buy.
One two.
I guess you would buy pretty much chocolate even though you wouldn't eat it for weeks or years.
That is scarcity.
We are telling you that there is a limited amount of product or service out there and the demand is
really high which means that a lot of people want to buy something that doesn't really exist.
Maybe one or two or three of a kind.
Yes exists.
So everybody wants to buy that just like on Black Friday.
People are going crazy.
I mean people are even starting fights in the malls on Black Friday which is insane.
And this is how you use the scarcity not to make people fight over your things but to make people buy
when we're having a product or service to sell.
We would like to sell the feeling of missing out which is also transfer and ask for more fear of missing
out.
Nobody wants to miss out on that deal of the day right.
So if you're looking for a cell phone for example and you see oh it's 20 percent off only today that's
a scarcity sales tactic that the company is using on you.
So when we're marketing and creating ads around the products we do want to create a sense of urgency
like it's now or never.
Don't miss out on this product or this service offer it's only today.
Go and buy it right now.
That is how we would like to sell our products.
One sales tactic that is really working for a lot of companies out there today.
There are countdowns that you can use which means that if you look on the screen right now where the
arrows pointing at at your product page or in your ads you're having some type of Countdown that is
making the potential customer feel like they're missing out on a deal for example order winning five
hours and you will get it by Friday.
Fridays tomorrow.
Today's Thursday so it's Friday tomorrow so if you really would like this product by tomorrow I need
to buy it now.
And the same goes for this.
So if you look on the screen right now order before midnight Thursday 19th of December would stand at
home deliver No I don't understand what it is but I can also see that I only have eight hours on this
deal so I have to click the ad to bag and the shop button to get this deal and then we're having an
ad for example and Facebook gathers again see for our flash sale.
So I only have four hours to get 25 percent off as you can see on this ad and if I were looking for
a group on deal I would definitely click in and I would buy this at a 25 percent off.
So this is how you can use count on scarcity by telling your potential customers in your ads or in your
content or on your Web site that it's a limited time you have to buy this now with a little countdown
clock or in your ad like this four hours left on these flash sales.
So that is one tactic.
You can also do the limited stock scarcity.
Look on the screen right now.
Hurry.
Only one left in stock.
Now if you're selling something and you don't have a lot in stock which means you don't have a large
number of that product you can use this on your website as well like booking dot com is doing on me
right now I'm sitting here I'm looking for accommodation and I can see only one left like this on our
site.
And if I'm looking for an accommodation I see they have good ratings et cetera.
And then I definitely would like to book this but because I don't want to miss out on this deal and
it's the same for every people in the world because we as human beings hate missing out that is the
one thing that we're really scared of.
That is why this tactic is called scarcity.
We're adding some scarcity for people potential customers to miss out on a good deal and then we're
having limited time access.
Now this is perfect if you're selling in chorus or if you're doing a webinar for example if you look
on the screen.
Sign up for the bio hacking your sleep verbena and you can also see where the arrows pointing at now
closes in 19 minutes.
So we are adding in limited time access which means that this offer is going to close within a limited
time so you can use the countdown on your Web site.
If you're running and Shopify story if you're selling on Amazon or if you're creating ads on Facebook
for example you can use to count on tactics.
And then if you're soon to be out of stock with your products you can use to limit that stock offer
and then you're having the limited time access if you're having for example and webinar or something
that is closing very soon maybe an online course but only use the scarcity and urgency tactics like
this.
If you're really having a limited offer because always stay honest with your customers that is the rule
to stay in business for the long run.
Okay guys so good luck with your scarcity techniques and I'll see you in the next video.