Thursday, June 18, 2009

Marketing Tip #184

Marketing Tip: Limited Quantities

When something is scarce, it costs more. If you really want that item, product, or service, you need to move quickly before they are all gone! Consider using the element of scarcity in your next marketing campaign. This can be done in a variety of ways.

If you are running a promotion, make sure it has an expiration date. Individuals will want to take advantage of a discount or promotion before the end date. This helps you make the most of your promotion and drive an optimal number of responses.

Advertise the fact that you have a limited supply. If someone really wants what you are offering, they are going to want to move quickly. Offering a VERY limited supply can make people response even more quickly.

Publish that you only have a certain number of products available. Some promotions say that only the first 20 people will be able to receive something or that only 100 dolls are available. That drives action and action drives sales.

Consider placing a limit on your supply or managing your promotions around a specific date. Limiting your availability, creating scarcity is a great marketing tactic!


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