Creating Irresistible Offers Part 1 |Use the element of scarcity
In my last post I talked about the 4 mechanics to smart lead generation. For the next couple of day we are going to focus on the backbone of every lead generation campaign…the offer.
In order to have an effect lead generation program we must create a valuable offer. Once you create this incredible, irresistible offer there are a few things you can do in order to increase your chances of generating leads. In the coming day’s I will reveal 7 tips that will help you generate more leads for your valuable offer.
Today, we’ll talk about using the element of scarcity. If you look at the simple principles of supply and demand you can see that when supply goes down demand goes up. People generally want something more when there isn’t enough to go around for all. Scarcity can be a great motivator for people to take action. Essentially scarcity creates a fear of shortage which naturally causes everyone to feel a sense of urgency, which you can play right into.
Limited Time Offers
Probably the most used scarcity tactic we see as consumer’s every day. Car dealerships, furniture stores use scarcity the majority of their time on commercials we see.
Limited Quantity offers.
Studies show that this outperforms limited time offers. Why? Well because with time you know when the offer will end, yet with quantity you have no idea therefore you rush to get yours. We’ve all seen the lines during the holiday when stores open early. Stampede.
Limited Time and Limited Quantity
Living Social, Groupon and other coupon sites apply this and it works great. These deals all end at a certain time which is usually counting down, and limited to a certain number of people. Just plays so nicely into our physic that we don’t stand a chance, we just can’t help ourselves.