$12.59.
Yes, I was at the movies last weekend. The movie ticket cost $11.00. And the price for a large popcorn and soda was $12.59. More than the movie cost.
How can this be?
We all know the popcorn and soda cost the theater a pittance to produce. The movie costs millions to make, advertise and distribute. Prices seem out of order here.
Scarcity. Urgency. Fear of Missing Out.
Those were the reasons for the pricing difference.
We had many theater choices to see the flick of our preference. Yet, once in the theater, we had only one place to get popcorn and a soda.
We can all learn something about getting people into action from movie theater pricing.
Scarcity, urgency and fear of missing out are proven…by studies…to boost sales.
An item thought to be in short supply becomes more desirable. Scarcity.
An opportunity for only “x number” of people drives more than “x number” of people to want it. Urgency.
Checking Facebook compulsively or rapidly opening an email message entitled “Don’t miss out!” encourages us to act. Fear of Missing Out.
Now hear me loudly and clearly: I am not talking about you using parlor tricks to get people into action.
I’m talking about creating real scarcity, authentic urgency and recognizing that some people really will be afraid of missing out on something you are doing.
And one simple addition to your e-commerce website (or any landing page where you are offering something for sale or seeking action by the visitor) can boost your results.
The countdown ticker.
Timers increase sales. Timers boost sign-ups. Timers are proven to elicit action. They are not annoying gimmicks—if the scarcity is authentic.
Amazon uses it. So do Groupon, E-Bay, and Living Social…to name just a few.
Don’t you think we can learn a little something from these big, successful guys?
Add a timer to your landing page or sales page, and watch how this very simple addition increases sign-up, opt-ins and sales.