How to increase sales by adding scarcity - Learn Online

How to increase sales by adding scarcity

Lesson Details:
April 30, 2020

Video Transcription: In this video, I wanna introduce the concept of scarcity which is a very common sales tactic that is used to boost sales a lot this video is brought to you by Appy Pie Academy and the premise of it is that you create often a false sense of scarcity in a sense a feeling in the customer that time is running out or there's like a limited supply and they need to hurry up and buy what they are shopping for otherwise something will happen and some people think it's a dishonest sales method because of course there's a tiny bit of dishonesty in there I agree for example if you have only like for example when a car dealerships say we only have like one car in the stock hurry up soon and if we sell it we'll run out of course they have more cars in stock most likely but they tell you that they have one left or like one of this price or something like that so that you would come in quickly and it's not just car salesmen who do this it's actually almost entirely everywhere you see big companies do this all the time they say things while supplies last say lambs tomorrow this pride the price goes up after first after a certain date after the sale ends only certain the number left in stock only two seats left on a plane you might have seen a lot of these everywhere you shop you get these messages you may have ignored it but it's everywhere and all the companies do it if this tactic is not for you you don't have to do it because being honest in sales is a value of itself and me totally commend that actually but at the same time if you are doing sales this is one of the tools in your tool belt so at least you have to learn it usually it is time based or supply based time is running out typically say I was running out or like when you have like a weekend sale or how they sale well people know they need to get it at that time or its supply based a lot of times like only two left and stock only you know or only a certain amount of left or I see a lot of business coaches say I only have room for one more client and then I'm booked so of course, people want to jump on that to unity but probably they have more room for clients you know and then after that, you want to follow that up with a call to action coming to the store now or order soon or buy now or take advantage of the slow price now and this is something you can apply to your business starting today and it does boost sales whatever you think of the morality and ethics of this it does boost sales and here I am on an Amazon page and what I see is sometimes labels like this you see on the right side limited-time deal where they want to get you to hurry up there's a limited sale right and sometimes I see things like if there is a low inventory or something I see limited inventory so companies use this all the time and so it's not bad if you use it too at the end of the day and if you have honestly natural scarcity situations like you can only serve a certain number of people then, of course, you should use that because then it's honest and it's fully ethical.

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