How can you create scarcity with customers during the follow-up process?

1 Why scarcity works

Scarcity works because it taps into the psychological principles of loss aversion and social proof. Loss aversion means that people value something more when they perceive that they might lose it. Social proof means that people look to others to validate their decisions and actions. When you create scarcity with customers, you make them feel that they will miss out on a valuable opportunity if they don't act fast, and that others are already taking advantage of it. This creates a sense of urgency and exclusivity that can overcome objections and increase conversions.

4 How to create scarcity with availability

A third way to create scarcity with customers is to use availability-based criteria or conditions. For example, you can offer your product, service, or event only to a select group of customers, such as your loyal, referral, or VIP customers. You can also use qualifiers like "by invitation only", "exclusive access", or "first come, first served" to create a sense of exclusivity and prestige for your offer. However, you need to be genuine and respectful with your availability-based scarcity tactics. Don't use fake or irrelevant criteria or conditions that you can easily ignore or waive. This will also backfire and alienate your customers.

5 How to balance scarcity with value

While scarcity is a powerful technique to create urgency and excitement with customers, you need to balance it with value and relevance. Scarcity alone is not enough to persuade your customers to buy from you. You need to show them how your offer can solve their problems, meet their needs, or fulfill their desires. You need to communicate the benefits, features, and outcomes of your offer clearly and convincingly. You need to address their concerns, questions, and objections effectively. And you need to follow up with them consistently and professionally until they make a decision.

6 How to measure and improve scarcity

To make the most of your scarcity tactics, you need to measure and improve their impact and performance. You need to track and analyze how your customers respond to your scarcity messages and offers. You need to test and optimize different elements of your scarcity tactics, such as the wording, the timing, the frequency, and the format. You need to compare and contrast different types of scarcity tactics, such as time, quantity, and availability. And you need to collect and use feedback from your customers to refine and enhance your scarcity tactics.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?