It’s a natural tendency for humans to copy one another, even without realizing it — we like to be a part of tribes and social communities. So when we notice our social circle is doing one thing, we tend to follow suit. One great way to make an offer more valuable is to show that other people are participating in that offer.

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In other words, this bandwagon effect shows trends in consumer behavior. The bandwagon effect goes all the way back to the 19th century where Dan Rice traveled the country while campaigning for President Zachary Taylor. Dan encouraged those to “jump on the bandwagon” and support Presidential Candidate Zachary. Their campaign turned out quite successful as Taylor was elected President! By the 20th century, this was

Proof in Numbers
When possible, an excellent way to indicate how impressive an offer is to mention the number of people who have purchased, downloaded, signed
up, or donated.

Some examples include:

  • Webinars:On this page promoting our webinar with Facebook, we’ve stated that more than 40,000 have signed up.
  • Blog Subscription: Similarly, on our blog under our “subscribe” module, it indicates over 130,000 people have subscribed. This is proof that it’s a highly trustworthy and favorite blog people should follow.
  • Conferences: Events like SXSW and INBOUND are some of the hottest events because tons of people flock to them every year.

Just make sure your claims are not only true but believable. Keep in mind clear content trumps persuasion! Be clear in your message and what you want from someone, as opposed to only using numbers to get someone’s attention and hope they follow.

So how do you use scarcity to obtain new leads? How can scarcity be used to increase leads? If you look at the principle of supply and demand, you’ll notice that when supply is limited, demand goes up. Scarcity has a psychological influence on us, making us want something even more if there isn’t enough to go around. Scarcity is great because it creates a fear of shortage, and thus a sense of urgency.

 

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Limited Time Offers

Limited time offers are among the most popular in the scarcity category. Just think about your average car dealership. Practically every commercial is a limited time deal. “Get 0% financing before it’s gone!”

Limited Quantity Offers

When something is of limited quantity, it suddenly becomes more unique or exclusive. In some studies, limited quantity or supply offers have outperformed limited-time offers. Why? Because it’s hard to tell when an offer of limited quantity will suddenly become unavailable, while a time-based offer has a known end time. Limited quantity offers are great for not only getting people to say “yes” to your offer but to avoid procrastination completely.

Limited Time and Limited Quantity

Groupon is the perfect example of using both tactics. All Groupon deals end within a certain time frame, and they limit the number of people who can buy a Groupon. That’s a powerful combination. The site also packages these scarcity tactics with discounting, which is another great value-add, especially for e-commerce businesses.

Check out How To Turn Facebook Fans Into Paying Customers.