What is scarcity marketing? Scarcity marketing is a marketing strategy that plays on a prospect’s fear of missing out on a purchase. It’s based on the psychological principle that we tend to want what is in demand and hard to attain.
Mindy Weinstein, Ph.D., author of The Power of Scarcity, joins me on the SEJShow to talk more about the concept – and how it can help you drive results.
In the following Search Engine Journal video, Mindy and Loren Baker cover the following:
- What is scarcity marketing?
- Four types of scarcity.
- How to take scarcity marketing from the traditional to the digital side.
- Examples of using scarcity marketing in websites.
- Examples for service-based businesses.
- How McDonald’s used scarcity marketing.
- Ways search marketers can incorporate scarcity marketing into campaigns.