How To Offer Scarcity To Generate Leads?

Scarcity generate leads

Scarcity is a powerful technique for persuading people to make purchases. People are more likely to buy something if they believe it will be difficult or impossible to get in the future.

But this could be used to help generate leads as well by creating the same belief in people.

What Is Scarcity?

The real definition of scarcity is the lack of availability of a good or service.

Scarcity is often the result of a shortage, which can be caused by natural disasters, economic downturns, and other events.

Scarcity is a powerful sales tactic. It is used to create an emotional response and make people want something. When people see that something is in short supply, they will often buy it out of fear that they won’t be able to get it later.

Marketers also use tactics like raising the price, adding timers to their sales pages or website to get people to react now.

How To Use Scarcity To Generate Leads?

Just like when it comes to selling, You need to offer something of value to people. But in this case, you’re charging a price or getting them to buy something.

Instead, you turning that person into a lead for you.

An offer is a piece of content that is perceived to be high in value. Offers include e-books, case studies, free consultations, coupons, exclusive demos, etc.

In order for your offer to be attractive, it must have the following elements:

How To Use Scarcity In Your Offer?

We have learned that scarcity means that when the supply is low in a certain timeframe, the demand goes up.

If you still don’t understand, think about Black Friday. People kill each other for outdated items cause they only have that day before the price goes up or there is no supply left.

Humans want things with limited quantities because it means that the perceived value of the product is high.

There are three types of scarcity that can be used:

Limited time offers

You have likely been bombarded by emails which state that you can buy a pair of socks for 99 cents (which “normally” cost $99), if you buy within the vendor-specified timeframe.

In your offers, you should consider the following:

  • Offer expires tonight at midnight
  • Weekend ONLY special
  • Add a timer on your campaigns
  • Limited time bonus
  • Early bird pricing
  • Price increasing soon
  • Holiday, special event offer
  • Registration closing soon

Adding a timer on your offer boosts the conversion because potential customers can actually visualize when the offer will end.

Limited quantity offers

The occurs when a vendor “limits” the quantity of product on the shelf, in order to create higher value. Your wife or girlfriend might not be happy when you tell this to her. However, this is exactly how the value of diamonds is regulated. There are a sufficient number of diamonds for everyone, but they release very small amounts of their stock to create an exclusively high value.

In your offers, consider the following:

  • Limited Seats Available
  • Limited Quantity Available
  • Only accepting 100 new students

Want to give your offer an even larger boost? Try using both elements in the offer. Groupon is an example of this technique. They have a limited number of items in stock, which must sell before Santa Claus leaves for the North Pole. Are you skeptical that people actually believe in this scarcity? Look at the lines at the Apple Store, when a new product is released. The consumer’s brain is wired and triggered to get their credit card out when they see the “Limited Offer.”

Conclusion

Using scarcity is an easy way to drive more conversion, so use it.