Let me ask you a question. Is there any difference between:
Having huge traffic with no sales vs. having none of them?
Probably, the answer is no.
You put so much time and effort into your eCommerce business, worked on SEO, or spent lots of money on your ads. And you successfully gained your audience. But if the conversions are low, you hustled for nothing.
So, how to increase conversion rates that pay off your hard work?
One of the best ways to increase conversion rates is creating urgency.
After you read this article, you will know exactly urgency techniques the help convert visitors into customers and boost sales.
How Urgency and Sense of FOMO Increase Conversion Rates?
We use FOMO (fear of missing out) and a sense of urgency interchangeably. Simply, if there is a sense of urgency or FOMO, consumers are more willing to buy your product.
The longer consumers think about buying a certain product, the more likely they will not purchase it. In other words, if consumers have much time to do a desirable action – purchase, they tend to postpone it to the next time.
It is obvious how a sense of urgency increases conversion rates. However, bear in mind that, don’t make it seem pushy or abusive.
If your customers feel that you want to manipulate them to increase your sales, you will lose them.
Stay with me, in the following section I will talk about urgency techniques.
Urgency & FOMO Techniques
If you pay attention to what salespersons say in the process of land-based shopping, you will see that they use “magic” words.
For instance, “this t-shirt only 2 are left” or salespersons indicate that “this t-shirt is brand new, no one has bought it yet.” When we hear these magic words, they prompt us to buy these products.
When consumers feel that they are in competition, they are more likely to purchase a certain product or service.
In this section, you will know the vital urgency techniques and how to implement them in your eCommerce business and social media to boost conversion rates.
In 1975 Worchel, Lee, and Adewole carried out research about how scarcity changes people’s perception. They found out that if something is left only a few in quantity, it will be more valuable to people.
If you’re running your business online, show stock quantity to your customers.
When a certain product has a limited stock quantity, let your customers know.
The best way is either indicating stock quantity in the description of a product, or informing your customers with email.
Experian research shows that emails that include urgent words, will engage customers more. Plus, it will drive more traffic to your site.
Another way is to show stock quantity in the description of a product.
While doing so, make sure that you highlight the number of left quantity with vivid colours.
Countdown, in other words, setting time for a special offer, will trigger consumers for immediate purchase. The countdown method is one of the urgency methods used to increase conversion rates.
To get the most from the countdown, you need to use a little bit of your creativity.
You can use several kinds of countdown. The most effective ones are setting discount period, stock quantity, and engagement consent.
Discount period. For this tactic, you set time for a discount, i.e., “50% discount ends in 3 hours!”
You can use promo and exit-intent popups to show discount periods on your website. Or, if you don’t have a website, announce a discount period in your social media accounts.
Stock quantity. This method requires a rough estimation.
Let’s say you sell 10 limited designed t-shirts. If you sell one of them per day, you can highlight that in 10 days, the product will be out of stock!
If there is no quantity left, highlight the missed opportunities. By doing so, you encourage customers to check your website frequently.
Engagement consent. This tactic works best on social media.
You can get your customers to purchase your product while earning new subscribers/followers.
For instance, in your posts, you can say, “tag your friend to get a 50% discount expires on XX/XX/XXXX!”
You create a win-win situation: your existing customers get discounts while you get new people to know you.
Besides, you can use the countdown method for lead generation as well. For instance, give discounts to customers who subscribe to your mail, say, in 3 hours.
People want to feel special.
Exclusive offers are usually a good tactic to have loyal customers and increase sales.
Mailing. If you have a brand new product in your store, you can email them to be the one to purchase the item. Start the email with their name, you win!
When you offer a special discount for the customers in the email that indicates exclusivity, it will surely prompt them for immediate purchase.
Here is the example you can write:
Why is Social Proof Vital for Urgency Tactic Work?
To have customers buying your products, build a trust relationship with them.
You have a considerable amount of visitors. Without visitors knowing it, you will not convert them into customers.
No brand trust, no conversion rates.
Your customers want to know how many people have bought your products/services. Or, your customers may be curious about number of people visit your online store.
For that reason, social proof is vital.
Show your data to visitors. This data includes user activities such as product purchase, visitor counts, or location counts.
When you use social proof, your urgency and FOMO techniques will definitely boost conversion rates. In other words, social proof is a complementary factor in increasing conversions.
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We have seen how creating a sense of urgency and FOMO can increase conversion rates.
To value your hard work and see the positive results, using those techniques is highly recommended.
Now, it’s your turn!
Create some sense of urgency and double your sales!