People like products that are exclusive, and when they have them, they feel important. As marketers, we want to strategically trigger that feeling to generate excitement and drive demand. To do this, we need to have a thorough understanding of human behavior and be able to practice the discipline of limiting our product or service. It’s not easy, but it’s worth it.
Why would I want to limit my product or service if I’m trying to increase sales?
That’s a great question. Here’s why:
Scarcity drives demand. We all know that; it’s basic economics. When supplies are limited, more people want them. Their sense of urgency kicks in. But how to market limitation is where things get tricky. While you still want your message to focus on your product or service, its quality, and your company’s culture, You want to develop these messages in a way that arouses curiosity and creates a sense of necessity. That’s how you can adopt exclusivity marketing.
Using words like, “limited,” “only,” “insider,” or “first,” creates a sort of inclusion feeling that people will seek out. Practicing exclusivity marketing says to your audience that, “We don’t want everyone to know about us or this deal, but if you do then you’re part of a special group.” It’s enticing and it allows consumers to make decisions based on their instincts rather than on logic.
Additional ways to practice exclusivity include, waitlists, pre-order lists, memberships, deadlines, and invitations, among others. These strategies speak to consumers’ subconscious minds and create demand for your product or service. Keep in mind that this type of marketing increases consumers’ expectations, so be sure to deliver quality products that do not disappoint.
Sounds great, huh? You may be thinking, “Let’s jump right in!”
Keep in mind that exclusivity marketing doesn’t occur overnight; it takes time and strategic effort. Although it may be a long, step-by-step process, the results can be extremely beneficial if it’s done correctly with the right product or service.
Located in Columbus, Ohio, Creative Spot has helped organizations with strategic marketing for over 20 years. If you would like to learn more about advertising or have questions about Creative Spot’s capabilities, please contact us.