What is scarcity marketing? And why does it work? simply said we use scarcity to get people to take the action we want. This might be a purchase on opt in to an email list, webinar, registration and soul. And the reason people take action is that they don't want to miss out the opportunity, the opportunity is limited. It might be a time limit offer expires in 24 hours for example, it might be a quantity limit, only two pair of shoes left in psychology, there is a cognitive bias called loss aversion.

This bias basically states that people prefer to avoid losses than to acquire equivalent gains. Of course, there are always exceptions, but in general, we prefer not to lose $20 than to find $20. So scarcity is a marketing concept works because when we create a strong sense of urgency See, people experience the fear of loss as a result. Of course, this is not magical. There shouldn't be a strong interest in an irresistible offer. Because no amount of urgency will compensate for a weak offer.

We'll have a chance to talk about offers later in this section. scarcity marketing is one of the best ways to increase your conversions without needing more traffic. Because what happens is, you increase the value per visitor or lead. And once again, this is the main goal and focus of my course to help increase your sales to increase the number of people who take action. Another important point to understand is that scarcity marketing is not about creating fake urgency. It's not about misleading or lying to others.

If not used correctly, fake urgency might ruin your reputation and you will lose credibility. I will show you the best urgency tools, and I'm going to teach you how to create scarcity marketing campaigns, but they want you to have the right mindset from the get go. We will be using the concepts in this course in a budget and honest manner. Additionally, scarcity marketing is not just a one off campaign. It's a way of marketing thinking, how and where to apply for maximum results. Let's face it, running a business is challenging.

It has many moving parts, there are many things we need to think about. But at the end of the day, conversions in sales are the lifeblood of any business. scarcity. Marketing is a tool to help with that. So I'm super excited and grateful that we will be working together throughout this course. Let's do a quick recap.

We use scarcity to get people to take the action we want. People prefer to avoid losses Then to acquire equivalent gains. People take action because they don't want to miss out on the opportunity. No amount of urgency will compensate for a weak offer. Thank you for watching and stay purposeful