What is scarcity marketing? Basically, it’s the tactic of increasing demand for a particular product or service based on the idea that the item is rare or difficult to obtain.
Why does this work? Customers tend to place a higher value on items that feel more exclusive or unique. A customer will probably pay more for an item that is one-of-a-kind than they will for something that everyone else already owns.
Scarcity Marketing Ideas
So how do you make the most of this concept? Here are some of the most powerful scarcity marketing techniques you can use to increase demand and make more sales for your small business.