“Only 20 left in stock! Limited time only!” You’ve probably heard a version of these advertising tactics in the past. On today’s episode, Tom explains just how effective this tactic is and how to utilize scarcity to increase your sales results. Scarcity is one of the most effective ways to drive your prospects into taking action and can be utilized through time or quantity. During this episode, Tom provides five quick tips to utilizing scarcity effectively and ethically, detailing exactly how scarcity can affect your sales results in the best way.
“Scarcity is one of the most effective tactics we use in our business.”
In This Episode:
- Scarcity drives people to take action. It can be QUANTITY or TIME based.
- You need to know how to handle the AFTERMATH of a scarcity special. No matter what, there will always be that ONE person who is mad they missed the price drop.
- The key to using scarcity effectively is to set FIRM deadlines and stick by them.
- Set timers on your sale pages, and emails. Not every email needs to have a timer because it will lose its effectiveness.
- Leverage holidays to create scarcity sales. Use the holiday as a major, firm deadline.
- Let people know WHY your sale is urgent. Send frequent reminders of the sale.