Scarcity is a powerful psychological tool and usually has a very noticeable impact on sales processes, when supply is shown as limited. Limiting the availability of our product or service increases its attractiveness and motivates customer action.
We can use this technique of supply scarcity precisely to create demand through a large number of associated techniques, such as setting limited terms or quantities for our products, services, offers or promotions.
By creating demand by activating scarcity, we will increase the perceived value of our offer, generate urgency or even a kind of ancestral fear of shortage, which tends to motivate the customer and induce him to act quickly.
If we are going to communicate the scarcity of our offer, we must do it in a clear and convincing way, to give security and seriousness. However, we must avoid permanent scarcity, because it is perceived as a deception. We cannot sell something for years with the label “limited units” because time plays against us, and either it gives the feeling that those remaining units are not wanted by anyone, or that in reality they are not as limited as we said, so that our target audience will feel deceived.
Let’s be honest in communicating scarcity and use it to highlight the value of our offer, without becoming the typical store that is always on clearance but remains open with the same sign for decades.
By using the intrinsic value of the scarcity of something in a serious way, we can differentiate ourselves from the competition and strengthen our position in the market, maximizing the return on our marketing investment.