Have you ever heard of FOMO? It’s the “fear of missing out”, and that fear can easily be utilized in your marketing strategy. The best way to do this is with an Early Bird Bonus, which is an offer or deal that is exclusive to those who register early for an event or launch. Let’s go over the details of why an Early Bird Bonus is so important.
Like I mentioned, FOMO is real. People do not like missing out on good deals. The key is to make it as exclusive as possible. An Early Bird Bonus should only be for a certain period of time, maybe with only limited spots as well. You can also include exclusive content or extras in your Early Bird Bonus to entice your customers even more. Consider rewarding repeat attendees for registering early too. All of these strategies make your Early Bird Bonus feel exclusive, which gets your audience to lock in their registration.
Creates a Sense of Urgency
If you have people on the fence about whether or not they want to register, an Early Bird Bonus will create a sense of urgency. It gives that feeling that they have to decide NOW, that time is running out. This will nudge someone who is indecisive to register, instead of waiting until the last minute, or even worse, not registering at all.
Many people purchase at the last minute, but this is a great way to get your audience committed to your event early. It’s a win-win because they are saving a little money and you are selling more! You’ll also have a better idea of how your event or launch will perform. If you have tons of customers taking advantage of that Early Bird Bonus, you can rest assured knowing that it will be a success.
Makes Your Audience Happy (Literally!)
Studies show that snagging a good deal actually makes you feel good physically! When someone saves money or lands a spot in something, it reduces stress levels and releases high levels of Oxytocin, the happiness chemical, in the brain. This is important because it makes your customer feel good about their purchase, which makes them feel good about you and your business.
Early bird registration is a great way to improve your sales for your next event. By utilizing that “fear of missing out,” you are offering exclusivity, creating urgency, encouraging commitment, and making the customer happy. All of this is important for creating buzz and excitement around your event or launch, which is what marketing is all about!
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