The element of scarcity creates a major psychological pull in consumers. It’s often leveraged through the use of flash sales, countdown timers, and exclusive product drops, but it can also be a power player in your text message marketing efforts.
Here’s a list of four scarcity strategies you can use to meet your text message marketing goals.
1. Social Proof
There’s an old saying that goes as follows: “There is strength in numbers.” Scarcity occurs when the availability of resources subceeds demand. In simple terms, there are more consumers than there are products.
In cases like these, consumer demand can be your biggest asset when connecting with SMS subscribers. Psychologists recognize the trusted relationship consumers share amongst themselves as a result of social proof, the psychological idea that humans are more likely to follow the lead of others.
Let’s say a consumer had their eyes on a product on your website, but abandoned their cart before completing their purchase. You could use social proof in your text message marketing to promote renewed interest in your product.
Send a quick text to your subscriber letting them know how many other customers are also eyeing the items they left behind. Knowing that others are interested in your product will not increase your credibility and the perceived value of your item, it will also encourage your subscriber to move quickly before it’s too late.
2. Segmentation
Not all consumers are alike and the same goes for text subscribers. While many of the consumers subscribed to your text message marketing may find value in your products, they might have different interests and be pulled to different campaigns. Keeping all of your subscribers engaged will require you to continuously provide value. You can do this by tailoring your messaging.
Scarcity occurs when there is a limit of something. Implementing scarcity through segmentation occurs when a limited number of text subscribers receive messages regarding a campaign or promotion. Here’s an example: You’re having a dealon best selling products. You want to thank your VIP customers - people who’ve bought X amount of products in the past month - for their patronage. Allowing those customers to access the deal first before opening it up to others, leverages scarcity and encourages other customers to do what’s necessary to join the club in time for the next deal.
3. Limited-time offers
If you’ve spent any effort engaging with SMS subscribers, you know just how critical that time period is. The consumer attention span is short and with such a noisy market vying for that attention, every second counts.
Luckily, you can use time to your advantage. Chances are you’re familiar with limited-time offers; they are a common marketing tactic and use time scarcity to create urgency in consumers. It’s all a matter of consumer psychology. Knowing that time is limited motivates consumers to act quickly, especially if the limited-time offer is something relevant to their interests.
Here’s a quick list of tactics you can combine with limited-time offers in your SMS marketing:
- Gift cards
- Deals
- Exclusive promotions
- Rewards
The less time consumers have, the more urgency they feel to complete an action and gain a pleasant outcome. (Read more on the benefits of time scarcity.)
Whether the scarcity you showcase in your text message marketing is real or perceived, the psychological elements may be just what you need to engage subscribers and encourage conversions. Use one or more of the tactics mentioned to drive responses and offer value to your customers.
