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It’s Name Your PC Day, Reader... Shout out to 🪐 👍 Deep Thought!

In today’s edition:

• Today's 👉 Tip of the Day is for LinkedIn

• 4 ways to use 🪹 scarcity in your marketing

• 📒 Notes rolls out to Meta’s Messenger users

• TikTok’s mobile effect editor now available on 📱 iOS and Android

Want to position yourself as an industry leader on LinkedIn? Wondering what types of content you can write about?

5 Types of Thought Leadership Content on LinkedIn

• Share your insights on industry trends and emerging issues and tie them to strategic considerations.

• Tap into your experience to discuss valuable leadership, management, and business philosophy lessons.

• Summarize key concepts from the books you're reading and relate them to business leadership.

• Weigh in thoughtfully on provocative topics like AI, remote work, inclusion, etc.

• Open up about challenges you’re facing. Being vulnerable, curious, and honest can elicit engagement, especially when you ask open-ended questions.

Today's tip is inspired by Richard Bliss, a featured speaker at Social Media Marketing World.

Would you like to get more online sales by ethically hacking your customers' psychology? You can use the psychological power of scarcity to get your message across to customers, whatever your business is.

The Psychology of Scarcity

Scarcity is a compelling motivator. It affects how we value commodities, make decisions, and spend our money—all without even realizing it. 

That's because scarcity is a primal part of our psyche. Our brains are designed to overcome scarcity by finding essential resources such as food, water, and shelter. We value these things highly and we make decisions that optimize our chances of getting them.

But the same psychological process happens when something scarce is vital to survival (such as water) as when something scarce isn’t essential (such as a new pair of jeans). Our scarcity response is triggered whenever something is in short supply, hard to obtain, or restricted in any way. It doesn't matter what that "something" is. We want it because it's scarce.

Why Scarcity Makes it Easier to Sell to Consumers

First, scarcity triggers our brains to make decisions faster, according to neurological studies. We skip our normal decision-making processes and go straight to "yes" or "no."

Second, when something is scarce, we judge it to have a higher value. So if you want customers to value your products, use scarcity in your marketing.

Third, creating scarcity can help build community. When only a few people can get access to a scarce resource, they feel connected to each other as part of an exclusive group.

Finally, we feel excited about getting access to scarce resources. You can leverage this to build relationships with existing customers by letting them know when a product is scarce or when scarce products are coming into stock.

4 Ways to Use Scarcity in Your Marketing

There are different types of scarcity and different audiences will respond to them in different ways. You need to figure out which type will connect with your ideal customers. In some cases, you can even combine types of scarcity to create an ultra-powerful campaign with broad appeal. But be careful: the wrong type of scarcity could accidentally turn customers off of your brand.

Time-Related Scarcity Marketing Campaigns

With time-related scarcity, your customers are against the clock. The product or service is only available for a limited time and they don't want to miss out. This tactic also taps into the psychology behind loss aversion. Our fear of losing out is even stronger than the pleasure of getting what we want. For example:

• A countdown timer on your website landing page or eCommerce shop that counts down to the beginning or end of a sale or product release

• A flash sale that only runs for 24 hours

• Coupons with an expiry date to encourage more repeat customers

• Products or content that's only available for a short time such as seasonal specials

Supply-Related Scarcity Marketing Campaigns

Supply-related scarcity is closely linked to the phenomenon of conspicuous consumption. In conspicuous consumption, people buy and use goods to show off their status in society. For example:

• Exclusive product drops

• Beta access to content or services that are still in development (This is a great way to combine word-of-mouth marketing with customer research, too!) 

• Waiting lists for popular products, especially luxury items such as watches or bags

• Caps on the number of community members, course participants, or business clients; for example, some gyms limit their membership

Limited Edition Marketing Campaigns

Limited edition campaigns are a type of supply-related scarcity but they’re powerful and distinctive enough to deserve their own mention. For example:

• Local editions of national or global products such as the different versions of Monopoly adapted for different cities

• Bundling courses or services under a particular theme

• Collaborations with online creators and influencers

• Collaborations with other brands

Demand-Related Scarcity Marketing Campaigns

Demand-related scarcity works best on customers who are conformists. They want to be inside the group. They want to feel included. They're most likely to check reviews, look for social proof, and get word-of-mouth recommendations before they make a purchase. For example:

• Waitlists for popular products, places for a course, or seats at an event

• Pre-orders for products that are expected to be in high demand

• Labeling products or courses to show consumers which ones are most popular

• Sending emails to remind consumers when a product is almost out of stock or comes back into stock

Today's advice is provided with insights from Dr. Mindy Weinstein, a featured speaker at Social Media Marketing World.

ANNOUNCEMENT: Keynote Speakers for Social Media Marketing World

We just announced the names of the four keynote speakers for Social Media Marketing World. (You can probably guess one of them. 😉)

They are all marketing leaders who are prepared to share their newest thoughts on where the world of marketing is heading.

Here's what they all have in common: 

1️⃣ They are experienced marketers.

2️⃣ They are offering very timely messages.

3️⃣ They will inspire you on how to overcome the biggest challenges marketers face right now!

Check out the lineup of speakers!

🗞 Messenger Notes: The Notes feature has officially rolled out to Messenger. Source: Messenger via Twitter

🗞 TikTok Mobile Effect Editor: Last year, TikTok launched Effect House, a desktop platform that enabled anyone to create effects for the app. Now, TikTok has introduced a new mobile effect creation experience directly within the TikTok app. This allows creators globally to make effects without downloading another tool. The updated TikTok app (versions 32.1 on Android and 32.0 on iOS) offers an intuitive interface with advanced features to make effect creation easily accessible. Users can add special effects, work with templates, and utilize a library of over 2,000 assets. They can also set triggers to build interactive effects. By bringing effect creation capabilities natively into the app, TikTok aims to empower more of its community to become effect creators and drive trends on the platform. Source: TikTok

TOGETHER WITH YOUR BRAND

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Contact Emily to learn more about our media sponsorship options.

Did You Know?

You only blink about seven times a minute when working on your computer.