Do you remember the time people were hoarding a bunch of toilet paper at the beginning of a global pandemic? You would see every shelf emptied out in all the convenience stores that you visit. It almost seems as if they’re closing down for business and everything must go. Well, that wasn’t the case. These people bought because of fear and behind it were copy formulas.
They were afraid they wouldn’t have enough supply at home during a lockdown. If they didn’t buy now, the prices would increase soon. And since everyone else around them was afraid, it causes them to panic too.
Fear is what drives people to buy right away without having second thoughts. Because of this, you’ll get customers demanding more of what you have. You might even have to turn them down because you can’t meet their demands fast enough.
Wouldn’t that be a wonderful problem to have?
This is how scarcity marketing works when you use it in your copy formulas.
Once you know how to use it right, you’ll get people to open up their wallets as soon as you send out your online campaigns.
Whether it’s with emails, social media, or e-commerce, people will buy from you if you can give them a reason to act fast.
All you need is a few small tweaks in your copy formulas and you’ll start to see a boost on your conversions.
Why Scarcity in Your Copy Formulas Work
Adding scarcity in your copy formulas will get prospects to want something they can’t have.
When people see less of something, they assume it’s more valuable.
They will see more value in what you sell because there’s either a limited supply or limited time to buy. This works every time if you get it right.
You see, limiting your products or services makes people think it’s exclusive. They think it’s probably worth the quality when it’s that rare.
You can think of it like this: Because certain fruits are seasonal, bakeries are only able to make certain baked goods once a year. Once they’re available, the seasonal baked goods usually sell out faster than the regular ones.
Scarcity also works as FOMO (fear of missing out).
68% of millennials said they’ve made a reactionary purchase as a result of FOMO, often within 24 hours.
Most people hate feeling left out because they don’t want to miss out on opportunities. When you take something away from them, it makes them want it even more.
Wouldn’t you agree you’ve felt this way before?
Your job is to make the scarcity message clear in your copy formulas. It can be as simple as including scarcity in your CTA or towards the end of your website. It has to be clear that if people don’t act now, they might not hear from you again.
Here are the 7 main scarcity tactics to use in your copy formulas:
1. The Competition Tactic
If you’ve been on eBay, you know that there are three main buying options: “accepting offers,” “auction,” and “buy it now.”
Can you guess which option gets people to buy more?
That’s right, it’s the “auction” buying option. Within auctioning on eBay, there are even more buying options with:
- a reserve
- with no reserve
- buy it now
- without a buy it now
This increases the chance of buyers to commit to a decision. They can choose an option that’s right for them. If there aren’t enough buying options, they might consider looking somewhere else.
Auctions attract buyers more because their items start at an all-time low. That gives hope to many people that they’re about to get a great deal.
Once a bid is placed, people are obligated to follow through. If it’s a popular item, you’ll see a lot of competition as time gets closer to the end of the auction.
In your marketing, you can indicate how many people are also looking at your product. It will give it the social proof it needs to increase value.
If you are running a campaign, you can also include this in your copy formulas.
You can mention a sale will be available soon but only the first 100 people will get to buy. This will create competition and get prospects to keep a closer eye out.
2. The Deadline Tactic Copy Formulas
This tactic is also known as the limited-time tactic.
If you’ve opted in for daily deals, holiday specials, or clearance sales, you most likely have seen this in other company’s copy formulas.
Starbucks is a great example since they’re always thinking of ways to make new drinks to sell. Other than their regular brewed coffee, they make limited-time-only ice-blended drinks too.
When it’s the autumn season, their pumpkin spice flavored drinks seem to be the most popular. Same with Christmas time with their peppermint drinks.
This is only something you can get for a short period of time. If their seasonal drinks were sold all year round, nobody would care as much.
What makes it even more special is that people can’t make the same drinks at home.
According to Nation’s Restaurant News, “They expect to pay a premium because the specialty drinks, the iced frozen slushy drinks, are not something they can replicate at home or easily get at retail.”
If you are in e-commerce, having a clearance sale will make people feel they don’t have much time to decide. Someone else might buy your clearance items before the sale ends. That’s why you have to act fast. These items may no longer be available in production.
You can say things like:
- Limited-time offer.
- 24-hour response.
- Lock in this low price while you still can.
- Up to 50% off until Sunday.
- Today’s special deal only.
- There’s still time for Mother’s Day gifts.
- Clearance blowout deals.
- Free for 1 hour.
The perfect way to show deadlines on your online campaigns is to add a countdown timer. You can do this with your emails too. It will show customers how much more time is left on your limited-time offer.
3. The Deal Tactic
This tactic focuses on discounts and their use in copy formulas that sell more.
First of all, keep in mind that you shouldn’t be using too many discounts. Your goal is to prioritize quality for a better brand reputation.Know what you’re worth and stop giving people discounts. Click To Tweet
This is something Dan Lok believes in the most when it comes to selling his high-ticket courses. If he sells his high-ticket items for a low price, wouldn’t that defeat the purpose? No one would take his courses seriously if they were dirt cheap.
You need to find the right balance when it comes to lowering your prices to increase sales. If you keep offering them discounts, it will take away the value of your products or services.
A great way to profit from discounting your prices is by launching a new product. When you have a new product, you can say it’s still a beta test.
It makes people think you’re coming up with an amazing product and you need special customers to try it out before anyone else can. To motivate them to buy, you give them a discount as the incentive.
Since it’s a new product, you won’t have any reviews or testimonials to show. That means most customers won’t be able to trust what you sell. They’ll feel skeptical.
You can promote your new products as an early bird special or pre-sale. In your copy formulas, you can say something like: “In a few hours, this early bird pricing will go away. This is your last chance to get it at this rate. Buy now and save.”
It tells people that this is a one-time offer so that they should act fast.
4. The Expiring Now Tactic
“Expiring now” may sound like the deadline tactic. But what’s different is that there’s more urgency to it. That’s why it’s called the expiring now tactic.
This is a perfect example of what you might see when online shopping: “Want it tomorrow? Order within 20 minutes for one-day shipping.”
When you use this in your copy formulas, it can give you a competitive advantage. Once someone sees that time is running out, they don’t have time to think but to decide and buy now.
You’ll be able to sell faster too because customers like receiving their products right away. That’s why Amazon sellers are able to do so well in the e-commerce space. They offer free and fast shipping options.
In today’s world, shoppers are more impatient than ever. A study from Fetch, Dentsu Aegis Network’s mobile agency, found that 38% of people said technology had made them less patient than they were five years ago.
If you can’t get them to buy now, they might forget about it altogether. That’s why it’s important for you to catch their attention with your copy and get them to stay on your page.
5. The Limited Tactic
We’ve mentioned limited-time offers earlier. Now it’s time to dive into limited-item offers.
Here are a few examples of how these offers may look like on ads:
- Only 3 left!
- 5 spots left for this event.
- We now only have 10 tickets left.
- Limited to 1000 people.
- Invitation only.
The goal is to tell your prospects that what you’re selling is almost sold out – so they better hurry. When there’s less chance of buying, they will feel they lost the freedom to choose.
It’s either a quick “yes” or “no” choice at this point. If they’re stuck on deciding, they might run out of luck by the time it’s sold out. When there’s less freedom, your prospects are more likely to buy.
If you are selling to your email list, you can say that your most popular product is selling out fast. What helps people to take action fast is to add the keyword “now.” You can end it with “buy now” or “now is the time to sign up.”
When you are selling on a website, you should include the number of items that are in stock. It creates urgency when shoppers get to see the number drop right before their eyes.
Let’s say you were looking up for hotel rooms for your next vacation. Imagine you are deciding between several room options. If you see a hotel with only 1 spot left open, wouldn’t you want that more than the other options instead?
You may wonder why there’s only 1 spot open and it’s most likely because of higher demand. This might mean a better choice for you if everyone else favors that hotel too. You wouldn’t want to miss out on that opportunity.
This tactic works quite well for abandoned carts too. People forget about buying and leave their items in the cart. A great reminder would be to send them an email.
In the email, you could mention that the item they have in their cart is selling out fast. If they’re still considering buying, they need to act now before it’s all gone.
6. The One-of-a-Kind Tactic
One-of-a-kind sales include both the limited-time and limited-item tactics. That’s because one-of-a-kind items can be unique or rare.
These items might only be available one time only, they might also be limited in stock.
An example of this would be companies or people collaborating together. Imagine if all your favorite artists were all in the same room together, how much would that be worth to you? That would be a rare experience, wouldn’t it?
What if a popular clothing store collaborated with your favorite restaurant? Wouldn’t that be interesting to have your favorite food on clothes you can wear? It’s something you wouldn’t expect but would like to own.
The purpose of these one-of-a-kind items is to have people think this is a once in a lifetime opportunity to buy. Nobody will know if it will ever happen again. That’s why people would want to do whatever it takes to get their hands on them.
You can get creative with one-of-a-kind sales. Think about what your prospects like and put two of their favorite things together. That’s going to be a hot and easy sell.
Whenever Dan Lok partners up with a well-known name in the industry, it gains more attention. You’ll have two great influences in one room which makes the experience more valuable. Even if none of Dan’s audiences know the other person, he/she will most likely get more recognition after.
7. The Zero Hour Tactic
It’s exactly what it sounds like. The prospect ran out of time to buy.
When it’s too late for them, it’ll show that you don’t mess around when you send out reminders. They will likely buy next time once it’s available again.
Here’s what you can say:
- Check back every hour for more.
- You missed it.
- This is currently unavailable.
- Out of stock.
- Join the wait list.
These phrases will give your products or services instant social proof. It seems like everyone else is keeping their eyes on your page. A lot of people bought it so it must be the best choice.
What you need to do next is give the prospect a chance to buy next time. Have them opt into your email for notifications or register for some sort of reservation.
It’s better to show people that you’re out of your products than to completely remove them off your page. That’s how you add scarcity.
Be sure to announce when you will restock again and to remind prospects how fast it sells out. They’ll need to prepare themselves to act fast as soon as the product is available again.
Winning Copy Formulas That Sell as Soon as You Hit Send
Scarcity is a powerful thing.
Once you include these 7 tactics into your copy formulas, your sales will change for the better.
The key idea here is to make your prospects believe that what you have is high-quality and in-demand. You can show them by limiting the time to buy and the items you sell.
When people can’t have what they want, they’ll want it even more. This is something to keep in mind while crafting your online campaigns.
It helps with social proof if you can show this in your marketing. Something as simple as a countdown timer or a remaining number of products left in stock should work.
If you make your products or services available to anyone all the time, people will buy them whenever. Your goal is to get them to buy now.
So what if you had done-for-you copy scripts that you can craft and use within minutes of your time?
Instant scripts might be the tool you’re looking for. If you are always having a hard time adding scarcity at the end of your online campaigns, use this. With this tool, you’ll know the perfect words and phrases to use in your copy.
These scripts have been tested in the marketplace and they work. They helped Dan Lok’s businesses generate millions in revenue. You too can have these same results.