FOMO strategies

FOMO marketing strategies for ticketed events: The Smeetz experience

When it comes to marketing, scarcity definitely sells. This is particularly true in the leisure space, where no one wants to feel like they're missing out. Marketing professionals have long played with this idea, influencing emotion by focusing on scarcity and community. In the new world of social media, however, an entirely new term has been coined to describe this relationship: fear of missing out (FOMO).

FOMO is an ideal driver for events and leisure management. Dedicated strategies can be used to boost customer engagement and improve conversion rates. In this article, we'll dive deep into FOMO marketing and why it works so well. When you understand the psychology of fear and desire, you can learn to use powerful FOMO strategies to your advantage.

What exactly is FOMO anyway?

The term FOMO was coined in 2004 to describe an emerging social media phenomenon. With large sections of global society connected on a massive scale, people were comparing their lives to friends, acquaintances, and complete strangers. FOMO can have negative implications, with severe cases marked by low self-esteem, anxiety, and depression. It's not all bad news, however, with healthy levels of FOMO able to motivate people and drive ambition.

FOMO includes two main phases — the perception of missing out, followed by compulsive behaviours. For example, when people feel like they're missing the party, they're more likely to make and maintain social connections. 

While FOMO is primarily a social phenomenon, it affects every sphere of modern life. FOMO business techniques are common on the internet, with smart marketing professionals using the power of community for conversion optimisation and relationship building.

FOMO marketing strategies

FOMO marketing taps into the power of emotion to compel specific actions. Consumers act on emotion, as well as being driven by practical necessity, convenience, and comfort. FOMO marketing applies psychology to influence behaviour, including techniques based on social comparison, lifestyle ambition, and scarcity.

FOMO marketing is directly related to scarcity. Marketing professionals have long used this principle to drive sales, and FOMO brings it into the social sphere. The feeling of missing out is emphasised when the thing a person doesn't have is being enjoyed by those around them.

This type of marketing works especially well in tourism, entertainment, hospitality, and other fun-based industry sectors. FOMO is a common strategy used by giants like Expedia and Booking.com, which adopt advertising campaigns reminding people to live their best possible life.

If you're involved in selling tickets and delivering memorable experiences, the Smeetz platform integrates a variety of FOMO strategies to help you get better results.

Why FOMO strategies work

FOMO marketing involves telling people about rewarding experiences, building desire by focusing on community engagement. When people see others enjoying things perceived as being scarce, they're more likely to take swift action.

A study into FOMO marketing supports the effectiveness of this phenomenon. This paper created a FOMO response model to analyse how the fear of missing out influences decision-making. While personal traits did affect responses, FOMO appeals were found to "engender significant commercial, cognitive and emotional responses in recipients". These appeals were linked to human connections, with consumers measuring themselves against others in terms of social approval and self-esteem, among others.

FOMO strategies in the Smeetz booking flow

At Smeetz, we use positive FOMO strategies throughout the customer journey. From unified commerce solutions to updates and revenue management, these techniques are integrated seamlessly into our platform. The following features showcase our unique approach to FOMO marketing:

•           Purchase flow: Customers go through a series of steps with every purchase. We adopt FOMO strategies to streamline this process, energising the transition from product discovery to selection, registration, and order confirmation. 

•           Email communications: FOMO is central to our communications. With our powerful platform, you can engage your visitors at every touchpoint along their journey. We provide advanced email automation to grow sales and build loyalty.

•           Scarcity techniques: We adopt the scarcity principle to enhance booking flow and improve sales. Elements like countdown timers, limited offers, and changing price levels have a positive effect on cart abandonment and conversions.

•           Cross-selling: We use AI-based dynamic pricing and cross-selling strategies powered by FOMO marketing. Dynamic pricing is built into our calendar, and tailored product suggestions are made both over email and during checkout.

•           Bundled solutions: Our team specialise in all aspects of visitor attractions and booking. From memberships to gift cards and birthday parties, we use the FOMO principle to build desire for multiple products through a centralised inventory.

•           Real-time updates: Through our platform, you can communicate with people throughout the customer journey. If you deliver real-time booking updates and offer flexible booking solutions, people are more likely to take action.

Through the Smeetz platform, you can enjoy the seamless integration of these features and many more. With everything you need working together, you can focus on what really counts — delivering unforgettable experiences.

Benefits for organisers

Adopting FOMO strategies for your promotions and communications allows you to unlock many advantages. Along with boosting ticket sales, Smeetz uses FOMO to deliver the following benefits:

•           Better customer relationships

•           Increased conversion rates

•           Reduced cart abandonment

•           More early bookings

•           Better peak time management

Benefits for end customers

When it's integrated with communication and commerce strategies, FOMO can be incredibly beneficial to end customers. Smeetz helps to influence behaviour through FOMO, offering these benefits to event attendees:

•           Transparency around ticket availability

•           Improved access to popular events

•           Opportunities to purchase related products and services

•           Long-term engagement through subscriptions

•           Better social outcomes related to special events

FOMO strategies are beneficial across the commercial landscape, especially in the event management sector. With consumers more connected than ever before, and ticketed events often limited, the fear of missing out is a major driver of success. If you want to work with a platform that integrates the power of FOMO, please check out Smeetz or contact our team.