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  How do you feel when there’s something you really want to buy, and it’ll likely run out of stock soon? You will want to purchase it as soon as you can. And if you have the means to do so, you’ll make that move immediately.
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Now, what if it’s you who’s selling that thing? What if many people get the impression that your product will run out in a few days, and they absolutely want to buy it now? Your sales will rise, perhaps sharply, and you’ll make a lot of money within a short period. In this hypothetical case we’ve just cited, you’ve got people to buy your product by creating a sense of urgency around it. This is actually an approach you can use to increase your sales. Here we’ll talk about how you can deploy this sense of urgency to boost your revenues.

Steps To Creating A Sense of Urgency Around Your Product

What follows are seven things you can do to build up that sense of urgency required to get your sales up.

Sell Products That People Want

Unless you’re selling something that people want, your sales tactics won’t make any difference. Urgency is easier to create around something that’s in demand. There has to be a history of people purchasing the product in question. After all, they aren’t going to be jostling for it unless they know that it solves their problem.

Highlight The Product’s Scarcity

So you have a product that people buy, and you want them to buy even more of it. You’ll need to convince them that there’s a limited number of this product in stock. You may do this by noting the number of these products available (a small number), or just saying that there are only a few left.
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Fix A Deadline

A deadline ramps up the immediacy of the customer’s need for the product. Coupled with scarcity, deadlines can prompt customers to consider buying the item you’re offering at a much earlier date than they previously wanted to.

Zero-In On Your Customer’s Problem   

If you mention your buyer’s problem—the one for which your product exists –you bring it forward to their immediate consciousness and make it a present problem. That adds to the likelihood that they’ll want a solution if they’re offered it at that time.

Emphasize The Value Of Your Solution

When you have brought the problem forward to their present consciousness, you’ll also have to present them with a current solution. Note: you’re not just giving them a product; you’re offering them a solution. When you talk about what you’re selling, emphasize the things that it’ll do for the buyer(s).

Give Them The Incentive To Buy

Your potential buyer knows that there are a few of your products left. They know that it may solve their problem. And they also know that it’ll be available for a limited time. Perhaps they’re already mulling a purchase. Why not offer them an incentive, something that’ll seal the deal for them? This incentive should have an end date so that buyers are even more eager to buy.

Follow Up

As the deadline approaches, you may want to contact people who haven’t made a decision or made the purchase yet. Remind them, courteously, that there’s little time left to get the product. This may remind some who may have forgotten about your offer. It could also be the nudge that gets them to make the purchase.

Final Words

There are many situations in which you’ll want to try this approach out. However, be sure that you only use it once in a while. If you’re announcing scarcity sales all the time, the public will get the impression that your message isn’t genuine. By following the steps described here, you should have a great campaign that brings more buyers in. Featured Image Source: Zaenruption
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This article was first published on 14th June 2021


Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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