Fomo

"People don’t trust what brands say about their own products, but they do trust each other. That’s why social proof is so powerful. Here are some creative ways social proof can help you win over your biggest skeptics.

Creative Ways to Use Social Proof in Ecommerce Marketing Strategy - Fomo Blog Let's face it - trust is hard to earn in the world of online shopping. Despite your good intentions, customers will always question the validity of your claims. Don't let their skepticism hold you back. Learn how to build trust with your audience by creatively using Social Proof in Ecommerce Marketi...

“Fomo has exciting news to share: we’ve been acquired by Relay Commerce. After 6 years as a bootstrapped startup, we’re excited to partner with Relay to accelerate our growth and better serve our customers!”

Click the link in the comment for more details.

🕐 How to run *actual* limited time offers 🕐

If you're reading this, you probably work in technology.

Which means the product you sell -- a web app, widget, computer chip -- scales by definition.

Yet limited time offers, or the indulgence of scarcity, are often leveraged by tech companies to increase sales.

In this post, we'll discuss how scarcity in an infinitely scalable paradigm contends with honest marketing.

➡️ How scarcity works

Loss aversion is a psychological principle that states we are more akin to avoid "losing" something than we are to endeavor gaining something.

Cue the "50% off until Friday" sales technique. Nobody wants to consciously pay 2x next week when they could pay less today. So the prospect bites.

This is well and good, until the marketer does another deal after promising the first one "wouldn't come back anytime soon."

➡️. It's simple

Don't run limited time offers or leverage scarcity to boost sales, unless you actually have limited availability and won't re-run the offer in the near future.

➡️. Limited time offers, the honest way

We get it. You want to experiment, try different pricing schemes, and modify your business model on the fly until you find what works.

Luckily, this is not incongruent with ethical behavior.
On the rare occasion you give Prospect A a great deal, and Prospect B complains, simply honor the deal.

Companies who offer one-time daily deals are faced with this often.

You can play coy and pretend it never happened. You can flood your unhappy customer with a litany of legal terminology from your T&S. Or you can simply apologize and honor the belated deal for them, too.

This may leave a dent on trust, but that can be rebuilt later, with more honesty next time.

via honestmarketer.com (Fomo's partner)

The beginning of Don Draper's fall...

This is what any Mad Men fan will tell you about this scene.

After pretending to be someone else for such a long time, he finally gives in and starts telling the truth about who he is.

There is something more profound here about marketing; the entire TV Show has a message that seemed to escape most marketers:

THE INDUSTRY IS FULL OF PRETENDERS.

Most marketers don't go as far as assuming another person's identity. Still, if we pay attention closely, we can see the game that people are playing... and the sad part is, many marketers don't like it, but their salaries depend on it.

We B.S numbers, make things sound better than they are, omit some fragilities about the product, and boost features that are not that special -- we need to sell or we are fired.

Don Draper only took it as far as most of us are willing to go, but if we keep pushing in the direction Marketing is going, we will ALL become Don Drapers.

Honesty is the best marketing.

We hope marketers don't wait until a breakdown when the past catches up with them to realize that the statement above is true.

“Just use it. It is motivating for both customers and members, as well as employees.”

CycleMasters has been using Fomo for five months now, and to them, Fomo is a no-brainer.

And when asked what prompted them to install Fomo on their website, this was the answer:

“It is a nice way to create reliability and give a feeling and emphasis that you are joining a community when you sign up.”

So what about sales? You may ask. The community is a crucial side of the business, but an online business needs to sell.

This is what CycleMasters had to say about the results they are getting by using Fomo:

“Sales of our spin bike have gone up within the last month.”

Click the link in the comment section to read the case study, and learn more about CycleMasters, an indoor cycling app with a growing range of live and on-demand workouts.