FOMO — the fear of missing out — is a powerful tool used in the digital marketing space. It’s something you need to know and use, so that your conversion rate increases exponentially.
In this article you will find everything you need to know about FOMO and how to use it in marketing.
FOMO: What is it?
FOMO stands for “ Fear Of Missing Out .” It ’s a powerful psychological concept, often used in marketing. If you prefer a more scientific definition, here’s how a 2013 study defines it…
“…a pervasive apprehension that others might be having rewarding afghanistan telemarketing data experiences from which one is absent. FOMO is also characterized by a desire to be continually connected to what others are doing.”
Imagine for a second that all your friends are going to a party that you weren't invited to. Do you feel that queasy feeling? That's FOMO.
FOMO applied to marketing
Marketers and copywriters often use FOMO as a persuasion tactic to get people to…
Whether you buy a product or a service…
You sign up for a mailing list…
You click on an ad or a search result
It serves to increase conversions and is used subtly in all media — be it web pages, emails, and even advertisements.
Types of FOMO
FOMO is a really broad concept and therefore there are many different types. Here are some examples…
FOMO at Events
Everyone has been invited to a party except you… Your favorite band is playing a concert, but you have to work… Events are a huge source of FOMO.
FOMO on Discounts/Promotions
Discounts and promotions often grab everyone's attention — “50% off!”
Generally, discounts and promotions have a limited validity period, which is why they produce a higher level of FOMO.
FOMO when you are hungry
Have you ever had a hard time deciding what to order at a restaurant? You like one dish, but you also want to try another. You can't choose both, you have to make a choice. Either option you choose will seem wrong, since choosing one dish means you'll be missing out on the other.
FOMO in what's trendy
Everyone you know has bought the new iPhone, do you feel left out? You're probably feeling that need to buy it to be part of the group.
Holiday FOMO
It's holiday season, and all your friends and family are planning where to go, except you. You won't be able to enjoy all the fun activities that everyone else will be enjoying.
FOMO Statistics
FOMO mainly affects millennials ( source )
69% of millennials feel FOMO ( source )
60% of millennials make purchases due to FOMO ( source )
56% of social media users are affected by FOMO ( source )
45% of millennials affected by FOMO can't go more than 12 hours without checking social media ( source )
40% of people buy things once a year just to post about it on social media ( source )
Due to FOMO, 60% of people make purchasing decisions in less than 24 hours (
