There are two primary ways to use scarcity and urgency in order to increase sales. First, offer a limited time sale. Creating a time restriction triggers a psychological response by consumers who want to avoid missing an opportunity. Flash sales and timed shipping offers are good examples of this. Second, limit the quantity of product being sold. By showing limited quantity it increases the value in customers minds. You can do this by either showing the amount of stock left or by offering only limited quantities.
Don’t forget to use scarcity and urgency wisely because if it seems inauthentic and overly used it can create a negative image for your products and company.
- A review done by DigitalCommons at the University of Nebraska in 2013 observed and studied 14 customers.
- As indicated by a review done by Center De Recherche DMSP, shoppers that were viewed as high slowpokes had a 73% opportunity to not settle on a buy choice quickly.
- Making a feeling of criticalness among your site guests can help make more individuals purchase and less individuals “go home and consider it”.
“A split test done by WhichTestWon showed that when a countdown timer was placed on a product page, it converted nearly 9% better than a variation of the product page without a countdown timer.”