Run time: 57 seconds
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Is scarcity the missing element in your marketing toolbox? We’ve all seen offers on limited-availability products that prompt quick purchases out of Fear Of Missing Out. Scarcity can shorten the customer journey and increase perceived value, but how do you use it in a Business to Business context for professional services? While we don’t have stock on the shelves that can sell out, we offer our time and attention, which is finite. So here are some ways you can set boundaries on your availability to increase its value and prompt quicker action from your audience.
Personalised Services: Highlight the bespoke nature of your services, suggesting that only a select few clients receive personalised attention. This boosts perceived value and fosters exclusivity.
Exclusive Partnerships: Partner with other businesses to offer bundled services available only through this collaboration. This exclusivity can make your combined offering more attractive.
Beta Testing Opportunities: Allow select clients to join beta tests of new services. This creates exclusivity, gathers early feedback, and builds anticipation for the launch.
Can you create a hierarchy for your services, limit your availability, or put deadlines on purchases? This will help you sell them, increase perceived value, and manage your time more effectively.
Next week, we will look at the ethics of using Nudge Theory in marketing.
Resources
Register for the webinar in August The Nudge Effect: Psychological Strategies for Effective Marketing.
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