Here's the final video in our series on Robert Cialdini's psychology of persuasion.
This part looks at how scarcity - or a fear of missing out - can be used to help push prospects and clients into making a buying decision.
We've all seen offers that use the idea of a shortage to sell. They're usually at marketplaces or in the supermarket on products that are "available for a limited time only" or "while stocks last".
It's a common technique but the principle can be used in marketing across all sectors.
For example, you could cap the number of users or subscribers when launching a new product or service. It creates a group with a sense of exclusivity, which clients (particularly affluent ones) appreciate and are willing to pay extra for.
If you're not convinced, just look at technology behemoths such as Apple, Sony, and Microsoft. It's a trait they've been exploiting for decades when launching their smartphones, TVs, and games consoles.
This is the sixth and last principle from Robert Cialdini's book Influence: The psychology of persuasion. The 1-Minute Content Marketer will return, but in the meantime, you can catch up with the previous parts:
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