What is FOMO and how to sell more in your e-Commerce.
Fear of missing out, better known as FOMO, is one of the most effective techniques to increase sales in any online store.
Creating a feeling of scarcity, of being "taken out of your hands" or of not wanting to miss an opportunity can be very beneficial for your e-Commerce as long as it is not abused, and it is done subtly.
There are countless strategies to get your customers to have that feeling, although not all of them are suitable for any sector or product. Today we are going to discuss the ones that, over many years in e-Commerce, have been most useful to us.
1. Countdown Banner
This is probably the most used technique, but it really is one of the best. It is to add a banner with a countdown in the header of your website, which is fixed on all pages.
This way you can promote offers of all kinds and your potential customers will know exactly how much time they have left until the offer expires.
If you are a bit more terroristic and want to get all the juice out of the banner, you can do as they do in PDPaola: the countdown is always 24 hours and is reset every day, so your visitors will always see that day the offer ends and, if they are really interested, they will convert.
You can easily find modules, apps or plugins for your CMS in the official stores for four bucks. A must-have without a doubt. Some examples:
- Shopify: https://apps.shopify.com/event-promotion-bar
- Prestashop: https://addons.prestashop.com/en/promotions-gifts/
- WooCommerce: https://wordpress.org/plugins/finale
2. Low stock warning
Why do auctions or limited editions fly so fast? For a simple reason: low stock.
If your potential customers see that you are low on stock of their favorite product, they will want to buy it as soon as possible so as not to run out. The Low stock warning is a generally small message (please don't make it too big) that appears on each product page indicating the remaining stock available.
You can use any app for this, however, if you always have very little stock in all products... Don't use it! It is possible that customers may perceive it as negative, seeing that there is no stock of almost nothing can mean that the store does not sell enough, so it will generate doubts in those interested.
As a personal recommendation, use it only with star products, or simply display the message if there are 3 or fewer units available. Don't abuse it because it can be very expensive.
- Shopify: https://apps.shopify.com/easy-stock
- Prestashop: https://addons.prestashop.com/en/additional-information
- WooCommerce: https://wordpress.org/plugins/woo-show-stock/
3. Live Sales + add to cart hack
This is one of the techniques I like the most, mainly because it is not intrusive at all and, it works like a charm.
It is to buy a live sales module/app (the typical module where real or fake sales appear while users browse your store) and tune it a little to get more results.
It already works well, because you can see activity on the web, and that's a good sign. But if you want to take full advantage of its potential, I recommend you to do the following.
Configure it so that every time someone enters a specific product, a notification appears that someone has added it to the cart. It is important not to do it 100% of the time, most of the apps that you can install allow you to configure the % of probability that it appears, the delay and even the number of times per user.
A real gem for the most crazy of e-Commerce. You can see an example in Step by Store.
- Shopify: https://apps.shopify.com/live-sale-notifications
- Prestashop: https://addons.prestashop.com/en/pop-up/47255-live-sales-popup
- WooCommerce: https://wordpress.org/plugins/woo-live-sale-notify/
4. Cart warning
I want to comment on a very effective technique, especially in times like Black Friday. The best of all is that it is very subtle and does not require any plugin.
It is to put a message on the cart page that says: "Remember that your cart will be saved for only one hour" or "The products will be reserved for you for only one hour".
Whether the cart expiration is true or not, you are already putting it in your potential customer's head that if they don't buy it in an hour, they may miss the opportunity.
5. Exit pop up
Finally, I would like to explain one of the most used strategies: displaying a pop-up with a flash offer if the user decides to leave the store.
To be effective, the discount must be as personalized as possible and, if possible, the offer must expire in a very short time.
Be careful, designing ugly or overloaded pop-ups can play a dirty trick on you. Always remember to be minimalist and focus on one big and clear message.
- Shopify: https://apps.shopify.com/privY
- Prestashop: https://addons.prestashop.com/en/pop-up/45896-exit-intent-popup.html
- WooCommerce: https://wordpress.org/plugins/popup-maker/
That's all for today, it seems little, but it really is what works best. Try it all, and you will see, from your couch, how your conversion rate increases by itself. Remember not to abuse it and always, always, always take into account the design and user experience.