FOMO what is it and why is it important
I am not a great fan of acronyms as I feel they are overused and can alienate people who don’t know what they mean. One that has been around a little while is FOMO or Fear Of Missing Out. This is something I suffered from as a kid as I am sure a lot of you did, that guy down the road who had a brand new chopper bicycle and the like.
Well for adults this still applies and it certainly does in a business where we are continually striving to stay ahead of the opposition. When someone makes you aware of a new shiny thing, a service or perhaps an event then it pricks our interest and we want to know more, we don’t want to miss out.
With this human response in force, it would be a good idea to use it in your marketing, to make your audience engage. An event that only has a limited number of seats, a deal that only has days to run, a service that can only be offered to limited numbers.
There is a seminal book by an acquaintance of mine Daniel Priestley, called Oversubscribed, which is a must-read. This will explain this principle in great detail with a great example, and he has used it to grow his phenomenally successful company.
So have a think how you could use this to fill up those spaces on your course, or event, workshop or VIP program, but do make it real, if you get found out to misuse this then your reputation could be in tatters
So, think of how you could use FOMO to improve your business but also your client’s experience.
For me, I am looking at running a special VIP event at the world-famous Ascot Racecourse, and have an agreement in principle from 4 international speakers, and maybe, just maybe Daniel might make an appearance