How To Use Fear Of Missing Out To Your Advantage On Social Media

Fear of missing out, or FOMO, is an unease that exciting opportunities or events are happening without us being there. Social networks move fast, and if you’re not active, you could miss out on important news, promotions or updates.

As marketers, we can use this to our advantage by creating a sense of urgency. This urgency has the potential to generate more traffic or engagement by making users feel like they will miss out by not taking action.

But, you need to offer something that will make your audience feel like they’re missing out in the first place. Here are five different ways you can take advantage of FOMO through social media.

Offer a limited time or supply coupon.

While you might lose some profit by offering a discount, you can make back even more when customers add more to their cart. How do you mix a fear of missing out into this? By making it available for a limited time or only a certain amount of uses. Both of these strategies create a sense of urgency. Users will feel that they will either miss out from not using it soon enough or by others taking it before them. After creating a coupon, you’ll need to advertise it on your social channels.

Create a limited time sales promotion.

Offering sales promotions can help your business generate more revenue, and social media is the perfect place to advertise it. The key is to provide these promotions for a limited time to make users feel compelled to buy.

For example, you can create sales for major holidays and offer major discounts, bundles or similar deals. Christmas, Black Friday and New Years are great times of the year for this. You can use free tools like Canva to design social media graphics for advertising your sales.

Offer a giveaway.

Who doesn’t like free things? Offering a giveaway on social media is an effective way to gain followers, collect leads and increase brand awareness. Giveaways also inherently use FOMO because users are competing against the clock and others that are entering.

What you should give away exactly will depend on your business. If you sell physical products for example, then giving away a popular item is the easiest way to go. But, things like gift cards are universal and good for practically any audience.

To get the most out of the giveaway, make an email opt-in mandatory. This will grow your email list while creating a channel to announce the winner and send updates. Use a tool like MailChimp to create a landing page to collect emails and share the link with your followers on social media. Make sure to add some relevant hashtags like #giveaway or #freebies and announce that the giveaway will only last until a certain date.

Host a user-generated contest.

Hosting contests on social media can go viral, build up your following and develop relationships with users. For years, doing so has been a popular strategy for brands to grow their presence on social media and gain attention for future promotions. Consumers are more savvy and educated than ever, though. They understand when they’re just being marketed to and when they have a genuine engagement, with contests being the latter.

The first step for creating content is understanding your audience. What do they like? What are their demographics? This will play into how you make your contest and what you offer as a reward. For example, a fashion business might offer free clothes or gift cards for the best-submitted outfit.

Take a look at the contest that Taco Bell hosted using Snapchat. They made a filter and hashtag for followers to have fun with and post on their own social media. Since not every business will have the capital to do something like this, here are some other budget-friendly contest ideas:

• Video contests: Have followers post videos of themselves using your product, leaving a testimonial or offering critique.

• Comment contests: Ask your followers a specific question, and the best answer wins.

• Philanthropy contests: Get involved with a charity or nonprofit to team up for a contest. You can have followers post user-generated content of them doing good deeds to win.

Your contest should only run for a limited amount of time. Users will have a window of opportunity to join in and potentially win. This creates a fear of missing out on both winning the prize and being a part of something viral.

This type of social media marketing develops relationships with your followers and has the power to make your brand go viral. Create a reward for the best piece of content or response and a hashtag for it. The key to any FOMO strategy is to make it a limited-time offer with competitive products.

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