Every year, Black Friday and Cyber Monday marks the peak of the holiday shopping season, where brands and retailers compete to capture the attention of consumers and their wallets. In this intense buying period, one marketing technique has emerged as one of the most powerful ways of drawing the psychology of the consumer into creating a need for urgency and sales. Selling in a way that makes the product appear few in number or with a time constraint tends to heighten that fear of missing an opportunity, and it is at this point that customers are compelled to act quickly.
But how does scarcity marketing actually work, and what can brands do to take advantage of it during BFCM? Let’s break down scarcity psychology, look at some different types of scarcity tactics, and get actionable strategies to incorporate scarcity marketing into your BFCM campaigns.
Understanding the psychology behind scarcity
The law of scarcity further relies on a basic principle of human psychology: that people are motivated to pursue more strongly when they feel opportunities are running out. Such a sense of urgency influences consumers to make decisions faster in life than normal because they fear losing the value of that opportunity.
When the factor in play is scarcity, two major psychological phenomena come into operation:
- Loss aversion: This is the foundation of this behavioral economics and reveals that it is much more sensitive to the gain of obtaining something when compared with the pain of losing the same value. Whenever the product or offer is scarce or will exist only for a short period, the consumer does not want to “lose” the chance to acquire it.
- FOMO: Fear of Missing Out has increased many fold in the times of social media. Consumers fear that if they do not act promptly, others might snatch it up, and they would be left with nothing. Scarcity marketing exploits this fear by creating an atmosphere of exclusivity.
Types of scarcity tactics for BFCM
Scarcity marketing is not one size fits all. There are so many different ways to create urgency and get people to convert, but what works best depends on the products, the targeted audience, and the campaign goals. Here are some popular and effective scarcity tactics you can use during BFCM:
1. Limited-time offers
In most cases, the most obvious form of scarcity marketing involves setting time limits or deadlines on a particular offer. Because these have a relatively short span over which high-intensity sale activities are to be conducted, deadline-sensitive discounting or promotions have also been perfect for BFCM.
For example:
- “20% off everything for the next 24 hours!”
- “Cyber Monday Flash Sale: 30% off for the next 3 hours only!”
Time-limited deals tap into FOMO, making customers feel like they must act fast or lose out on a great offer.
2. Low stock alerts
Another fantastic scarring tactic is low availability. Whether it is low or supposed to be low, the mere perception of low stock creates urgency. There is a feature in most e-commerce platforms, such as Shopify to display “low stock” warnings or “only X left in stock” messages.
Examples include:
- “Only 5 left in stock, order now!”
- “Hurry! Almost sold out!”
Low stock alerts appeal to the fear of loss. “You’re no longer buying a product but instead catching this nearly certainly temporary chance of having it before it vanishes.”
3. Exclusive offers for early shoppers
BFCM deals are greatly anticipated, so why not reward early shoppers with some exclusive offers? This creates a sense of privilege and will motivate a customer to act quickly to take advantage of a deal that others may miss out on.
For example:
- Exclusive early bird BFCM deal: 30% off for the first 100 customers!
This may lead to a buying frenzy, since customers will rush in to be included in the first set of customers.
4. Flash sales
Flash sales are short sales events that last only for a short time, mostly only hours. The synergy of a great deal together with an extremely short time is enough to push through for shopping.
Example:
- “Flash Sale: 40% off for the next 2 hours only!”
Flash sales would work best during BFCM because customers are in the mindset of searching for the best deals and would jump at any opportunity that appears fleeting.
5. Limited edition products
Another way that you can inject scarcity into your BFCM strategy is with limited edition or exclusive products. Because of their uniqueness and value, limited-edition items are often priced at a higher level and sold out once they are gone.
Examples:
- Holiday package. Once only, during BFCM!
- Launch of Exclusive Product for the first 200 customers!
This type of scarcity works on the levels of FOMO and exclusivity, as customers will feel like they are part of something special when securing a rare item.
6. Bundle deals with limited availability
Bundling products together for a special BFCM discount is an excellent way to increase AOV. Adding scarcity by making those bundles only available for a limited time or quantity may further motivate purchasing from you.
Example:
- Black Friday Exclusive: Bundle and Save 25%! Only 50 bundles available!
Bundling creates an urgency, and the customer gets a reason to buy two or more products at the same time, thus maximizing your sales.
How to implement scarcity marketing during BFCM?
Now that you know all the different types of scarcity tactics, let’s talk about how to use them effectively during your BFCM campaigns.
1. Use clear and urgent copy
Scarcity marketing relies very much on language. Use time-sensitive and action-oriented words that clearly communicate the limited nature of the offer. Your communications should henceforth have such terms as “Act now,” “Limited time, ” and “Only while supplies last” in great frequency.
2. Create visual urgency
Incorporate countdown timers to your product pages or email marketing campaigns to visually communicate the urgency. Countdown timers really drive home a deadline well and can make customers click the buy button before it’s too late.
3. Leverage email marketing
Email is one of the best channels for scarcity marketing, especially at BFCM. Implement segmentation to target different segments of customers: new buyers versus repeat buyers. Send personalized scarcity-driven offers. Use subject lines that create urgency in the minds of recipients, “Hurry! Only a few hours left to shop our BFCM deals!!”
4. Incorporate social proof
By adding scarcity, with social proof like demonstrating how many people have bought recently or how many are now viewing, can add additional pressure. Including messages that read “20 people are viewing this item” just adds social validation to this element of scarcity and triggers even more FOMO.
5. Run retargeting campaigns
You’ll find that not all your visitors will buy something during the first visit to your website. Use retargeting ads that will give the impression of scarcity, for example, remind them of BFCM is available only for a little while or that there are just a few left from those items they viewed.
Why scarcity marketing works so well during BFCM?
Scarcity marketing is even more effective during BFCM because, by now, customers have been primed to do impulse purchases. The scarcity of Black Friday and Cyber Monday is self-sufficient and the further layers of urgency only create more impact.
When done right, scarcity marketing can:
- Increase conversion rates by compelling customers to act quickly.
- Sell at top velocity in that tiny window of BFCM opportunities.
- Increasing average order value through shoppers adding more items to their carts to capture limited offers.
Conclusion
Scarcity marketing is one of the strongest weapons in an e-commerce marketer’s arsenal, especially during BFCM. Brands can create a sense of urgency and a fear of missing out and thus drive conversions, engage customers, and stand out on the busiest shopping days of the year. Whether through limited-time offers, low stock alerts, or exclusive deals, using scarcity can make your BFCM campaigns more effective and profitable.
Adding scarcity marketing to your BFCM preparation this year should make your brand stand out and not get visitors but customers.
