I’m going to tell you a story that never happened. A man and a woman didn’t stand and watch a sunset and exclaim, “That’s the ugliest sunset I’ve ever seen!”
Think about it. Have you ever heard someone complain about how unattractive a particular sunset is? The fact of the matter, though, is that some sunsets have to be better than others, right? They’re not all created equal, but there’s something about their nature that only makes us remark on them when they’re beautiful.
Wow. Think about that. If you could infuse some of that positive power into the products or services that you sell, you’d have a much easier time marketing your business. So what is it about sunsets that makes them so powerful, something that we typically only comment on in order to praise it?
Not sure? Here’s the answer: it’s scarcity. Scarcity? You may be thinking that sunsets happen nearly every day. They can’t possibly be considered scarce. But scarcity is the reason we prize these daily, ever-shifting light displays. We know they’ll only last for a few moments, and then they’re gone. We know that we have to savor them while they last because there will never be another exactly the same.
That’s the kind of scarcity you want to cultivate for your business. Here’s how you do it:
- Limit Access. Reserve certain products – or unique bundles of products – only for your best clients. If you create a special club of sorts, whose members get access to products other clients don’t, then they’ll see more value in those products. They’ll feel special and will be predisposed to find their exclusive offers to be valuable.
- Create Beauty in your Business. If you display your special offering for a limited time only, then consumers will be more apt to snap it up right away. Limited time offers give customers a sense of urgency for the purchase, and a sense of relief when they receive their exclusive product. Showing the special benefits that your customers with exclusive access receive makes other customers want that privilege as well. Whether it’s a section of your website, or a special area of a retail store, find a way to showcase your special offers.
- Raise your Prices. We value that for which we spend more money. If you create an exclusive, limited time offer for your customers, then they’ll be willing to part with more money in order to secure your special deal. Pack in tons of added value, and it’s a win for everyone. They key here isn’t just to slap a higher price tag on the same old product. You must create an authentically more valuable offer, and your customers won’t be able to resist it.
The ultimate marketing win is when you can get consumers so excited about your product or service that they start to market it for you. We see this happen all the time on Facebook. People “share” books they’ve bought on Amazon or “share” the outrageously expensive eyeshadow palette they just bought from Sephora. Why do websites prompt shoppers to “share” their purchases? Because we see value in the things our friends buy. Use the sunset effect in your marketing, and you’ll start to see excited customers sharing the news about your brand.Tags: Marketing, Mondays with Mike, Price, Sales, Social Media