Digital Marketing

Snow covered trees in Steamboat

Harnessing the Power of FOMO to Increase Sales

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Last weekend I was in Steamboat, Colorado, celebrating my brother-in-law’s birthday with family. On one of the first runs of the day, he was flying down the slopes, just generally showing off.

 

Hitting jumps, skiing backward, deliberately doing sketchy stuff. 

 

Until he flew off one particularly sketchy mogul and managed to “yard sale” – skiing terminology for a crash in which you lose everything – your poles, your skis, your dignity. 

 

It’s a little bit like this: 

 

When his gear and self-respect went flying in a tumble of snow, he also tweaked his calf muscle and was all bent out of shape about how he might have ruined his whole weekend with that one dumb move. 

 

We skied down to the lift, hopped on, and when we arrived back at the top of the mountain, there was talk about where to go next. My husband and some of the other guys wanted to go try a few “extreme terrain” runs that the rest of us weren’t game for. 

 

And then there was my brother-in-law, who should’ve been taking it easy after the fall, but who was so caught in the grip of FOMO (fear of missing out) that he could not make the better, safer choice of skipping those runs.

 

He went and did them anyway. 

 

The thought of not going with his friends to find some powder stashes in the chutes was just too awful. 

 

FOMO is a powerful thing. It can make you take risks. People make all kinds of decisions based on FOMO.

 

Individual decisions, like buying expensive concert tickets, going to a grand opening of a brewery, or entering a race. Or corporate decisions, like attending a trade show or conference, or even springing for a Super Bowl ad. 

 

To harness FOMO and use it to drive your customers or prospects to do something you want them to do, you have to understand FOMO.

Yoda knows the power of FOMO in marketing

“For my ally is the FOMO, and a powerful ally it is.” – Yoda

 

Like the Force, FOMO has always been there. Unlike the Force, FOMO is universal. It’s inside of all of us.

 

We may not have had an acronym for the feeling until recently, and certainly, it’s exacerbated by social media, but it’s always been there in some form.

 

As marketers, we need to make the FOMO our ally. And to do that, you must truly understand your customers.

 

Who are they?

What drives them?

What are they afraid of missing out on?

What would motivate them to act? 

 

Ski resorts understand this well. As an Ikon pass holder, I have somehow opted in for emails from all the resorts that are affiliated with the pass, and I get powder updates and notifications from them. 

 

They send me emails with embedded videos of people skiing through feet of snow, the beautiful white fluffy stuff flying everywhere. 

 

Steamboat "Snow Alert" to their customers

 

And does this ever ignite my FOMO. I know I am missing out as the snow comes down. Maybe I should call in sick…

 

This is what you need to figure out. Get to the heart of what drives your customers, wait until the time is right, and then start raising the stakes. Here’s my advice for harnessing the power of FOMO:

  1. Start with customer research. You need to understand what drives them. What do they want more than anything? Does it match with what you’re offering?
  2. Master the message. What are you actually saying? What language are you speaking in – literally and figuratively – and does it match the way your customer speaks? Then there’s the question of the type of content they engage the most with: photos, video, or text. 
  3. Pick your platform. Where do your customers live? In their inbox? Or Instagram, Twitter, or Facebook? The platform goes hand-in-hand with the message. When done well together, they win.
  4. Get the timing right. As I mentioned before, I get an email from my favorite ski resorts when it is snowing. They are notifying me of current conditions so that I can take action based on this new information. When do your customers need to hear from you in order to get the most out of what you’re offering? 

Activating FOMO in order to get your customers or prospects to take action doesn’t have to be disingenuous. I love skiing. As much as it tortures me to know about how many inches my local resorts are getting when I can’t go, I want to be notified. 

 

If the stakes are high enough – foot upon foot of fresh snow – I might be motivated to take a risk in order not to miss out. I might be willing to leap over obstacles (traffic, transportation, work) in order to get there. 

 

“Don’t Underestimate the FOMO.” – Darth Vader 

 

If I convince you of one thing today, I hope it’s this one.

 

Don’t underestimate the power of FOMO. A lack of faith could cause YOU to miss out on the thing you desire most…

 

More sales. More conversions. More engagement from your customers. 

 

If you truly get at the heart of what motivates your customers, they will do almost anything not to miss out. 

 

Not only that, they will spread the FOMO for you. 

 

That’s right. They will post photos on social media of them having the absolute best experience doing whatever it is you encouraged them to do. They will want their friends to be envious. They will ignite the FOMO in their followers. 

 

And then it will snowball. And another coveted thing could even occur – viral content (more on that next time). 

 

But you have to put the work into understanding them.

science-in-hd-b_HIKRj7EcY-unsplash

5 Takeaways From Old & New Companies Who Have “Gone Green”

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Make no mistake about it, corporations want clean power. They want it because their customers are demanding that they take responsibility for their impact on the environment, and they want it because it’s better for their bottom line.

 

Last year alone, contracts for 13.4 gigawatts of clean power were signed by corporates and government agencies, with the U.S. accounting for 63% of those deals – 8.5 gigawatts total. 

 

Bloomberg New Energy Finance credits the tech industry with “driving the green energy shift.” The tech industry has contracted for more renewable energy — 2,581 megawatts this year alone — than any other sector of the global economy. They’ve signed long term deals for 10.4 gigawatts to date, and many of them have goals to be 100 percent powered by clean energy. 

 

But while the tech industry may be powering the green revolution in many ways, their reasons for being good stewards to the environment aren’t purely altruistic. Compared to other industries, they are massive consumers – their data centers are hungry for large amounts of energy – and their consumption continues to grow exponentially. In order to manage their reputations and attract investors, it’s imperative for the tech industry to invest in clean energy. 

 

So what does that mean for the business sectors that make up the rest of the global economy? Perhaps surprisingly, manufacturing is a runner-up when it comes to going green, having procured 1,658 megawatts of clean power this year. 

 

Let’s take a little peek behind the curtain of two companies – one in manufacturing and one in tech – to get a sense of how their green energy initiatives compare. 

Photo by Roman Synkevych on Unsplash
Photo by Roman Synkevych on Unsplash

Manufacturing: Hasbro

 

According to Newsweek’s Green Ranking, Hasbro (founded in 1923) is currently number 3 for green business practices in the U.S. As a company, they are deeply committed to building a truly sustainable business. As evidence of this, in 2017 Hasbro achieved 100 percent renewable energy usage and carbon neutrality in all of it’s U.S. operations. Now they are taking it one step further and trying to make this true for their global business as well. 

 

To make this a reality, they “purchased 24,681 megawatt-hours (MWh) of renewable energy certificates (RECs) to address 98.8 percent of their 2017 global electricity consumption. Additionally, the company purchased carbon offsets in 2017 to address its global carbon footprint. Cumulatively, this reduction in Hasbro’s carbon footprint is similar to growing 736,051 trees per year for 10 years or not using 66,759 barrels of oil,” according to their 2018 Renewable Energy and Greenhouse Gas Emissions Statement. 

 

Big tech: Apple

 

According to Newsweek, Apple ranks number 8 in the U.S. and number 17 globally. That’s pretty impressive for a tech behemoth that employees more than 304,000 people. So, how do they do it?

 

Apple’s Energy Efficiency Program narrows in on suppliers’ facilities that have the highest energy use. After a thorough energy analysis, they work with them to eliminate waste and upgrade to energy-saving technology and infrastructure. The results? The reduction of 466,000 annualized metric tons of greenhouse gas emissions in 2018. 

 

But it’s not all sunshine, roses and sustainability wins for big tech. Apple has come under scrutiny for other environmental issues in its supply chain such as waste management and water contamination. For all of their efforts to fight climate change, there’s the looming truth that every year, electronics generate over 40 million tons of waste. 

Modern, Energy Efficient Office - Photo by Dan Gold on Unsplash
Modern, Energy Efficient Office – Photo by Dan Gold on Unsplash

Have sustainable aspirations? Here are 5 takeaways. 

 

  1. Sourcing enough renewable energy can be difficult. If you find this to be the case, reach out to other businesses in your state with similar initiatives. There’s strength in numbers, as was recently proven when 10 big tech companies banded together in Virginia to oppose a local energy company whose IRP was heavy on plans for natural gas. 
  2. Be shameless about stealing great ideas. Apple’s Clean Energy Program puts the onus on their suppliers to generate and procure more than 4 gigawatts of renewable energy worldwide by 2020. Since they began the program 4 years ago, 30 suppliers have pledged to provide 100 percent renewable energy, which, alongside Apple’s own investments, have already secured 3.9 of the 4 gigawatts that was their goal.
  3. Take a page out of Cisco’s book and investigate green tech for the office, like smart thermostats that turn the heat or cooling down when employees aren’t in the office. The “small things” can add up to a lot: lighting upgrades and motion sensors, as well as a more advanced HVAC ventilation system,  can save your business money right away and go a long way towards making the office more green. 
  4. Be willing to put in the hard work to reap the rewards, but also be willing to delegate. If you find that the time required to do the job right is too great, then consider calling in an experienced advisor. Here are some great tips from Level 10 Energy on what you should consider if you decide to go down this path. Energy advisors help manage the process and provide support in doing due diligence on providers, as well as negotiating the best possible deal for your company.
  5. Create a content marketing campaign to launch and promote your sustainable initiatives. As soon as your program is planned and executed on and you are seeing results, it’s time to put together a launch strategy.  This includes both internal and external marketing efforts – you need your own people on board and excited about your initiatives in addition to your customers. Your strategy should be comprehensive, covering your entire digital presence – website, ads, emails – be thorough! 

And remember, if you get to #5 and feel overwhelmed, I can help!

Has your company already successfully gone green? Tell me about it below 🙂 

Photo by ev on Unsplash

Dear Brands: It’s Time to Stand For Something

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When my husband and I grocery shop, we’re always on the lookout for new, interesting brands making interesting products. With so many similar products in each category, we both pay close attention to packaging and labeling, looking for signals that the brand cares about more than just making money.

 

For example, we prefer non-dairy butter in our household, and there are many plant-based options out there.

 

Unfortunately, most have palm oil in them. Palm oil has become almost ubiquitous in food products recently, and its demand motivates the destruction of the rain forests in places like Indonesia. Burning the rain forest to create a palm plantation creates havoc for all the animals living there, and it’s driving the orangutans to the brink of extinction. 

 

Knowing this, we are always looking for brands that mark themselves as part of the Rain Forest Alliance, and choose to use ethical and sustainably sourced palm oil. We found our brand – Melt – and they have our loyalty because of their commitment to doing the right thing for the planet. 

 

Melt Organic Plant-based Butter
Melt is a plant-based butter made from non-GMO, organic and sustainably sourced ingredients.

 

And we are not alone in this decision-making process. Unilever, the parent company for some 400 brands including Ben & Jerrys, Hellman’s, Dove and Seventh Generation (and purchased in more than 190 countries) has done a ton of research on which brands perform the best for them, and why. 

 

According to Unilever’s CEO, Alan Jope: “Two-thirds of consumers around the world say they choose brands because of their stand on social issues, and over 90% of millennials say they would switch brands for one which champions a cause.”

 

7 of Unilever’s top 10 brands have a sustainable mission, leading Jope to elaborate:

 

“We believe the evidence is clear and compelling that brands with purpose grow. Purpose creates relevance for a brand, it drives talkability, builds penetration and reduces price elasticity. In fact, we believe this so strongly that we are prepared to commit that in the future, every Unilever brand will be a brand with purpose.”

 

Unilever's Sustainable Brands Out-perform
Unilever’s Sustainable Brands Out-perform

 

Suffice it to say, there’s been a seismic shift in the way that today’s consumers make decisions about the brands they support. Riddled with choices, and living in a world more and more impacted by climate change, shoppers of all ages are making decisions based on which brands openly support environmental and social causes. 

 

So how can you take advantage of this opportunity, if you’re not already? 

Investigate: Examine The Landscape For Sustainable Opportunities

 

The sustainable business landscape is diverse, with many different options for how and where to implement a program. Check out brands you admire, that do good work in sustainability, and examine their structure. How do they integrate it into their business and their marketing? What makes it authentic? 

 

Here are a few options that could be good for you, depending on your business model: 

 

  • Becoming a B Corp: 3,132 companies across 71 countries are currently B Corporations. That is, they are legally required to balance business and profit, and to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment. 
  • Committing to becoming Carbon Neutral: Measure your emissions and, based on your sector and business size, reduce them to zero by combining internal energy-saving initiatives with external emissions reductions. 
  • Renewable energy initiatives: Changing to renewable energy is good for the planet and good for your bottom line. Whether it’s solar power inside your buildings, solar storage for your data, or changing over to more energy-efficient lighting, heating, and cooling – options abound. 
  • Re-imagining your product packaging: If you sell physical products, then you may want to re-evaluate your packaging to avoid plastic and/or unnecessary waste. Companies like Loop can help you do this. 
  • Becoming a member of 1% For the Planet: A community of companies that donate 1% of their sales back to the environment. 
  • Create an ethical and sustainable product from start to finish: From Fair Trade agreements with farmers and craftspeople to ethically sourced ingredients, make sure that the way you manufacture your product is good for the humans involved, and good for the environment. 
  • Employee incentives: Create an incentive for employees to bike, use public transit, or rideshare to work. For example, I used to work for a company that provided parking. If you didn’t claim your parking spot, you pocketed the parking money every month instead. 

 

Decide: What Makes Sense For You, Your Customers, and Your Product

 

Make sure that whatever you decide to do fits with your brand personality and ethos. 

 

What’s your business model? Does it make more sense to ditch plastic and use banana leaves as product packaging, or to make all your buildings green? 

 

Photo by Good Soul Shop on Unsplash
Photo by Good Soul Shop on Unsplash

 

The direction you take depends on your team, your customers and your mission. Which sustainable pathway fits within your brand? What’s the sentiment for the various options internally? 

 

Look at your customer archetypes and decide: what matters most to them? What would they rally behind? 

 

When you find one answer that checks all these boxes, you know you’ve got your solution. 

 

Clearly State Your Position 

 

You don’t want this new initiative to be a secret. Whatever you choose, it should be obvious to consumers what you’re up to and why they should choose you above other brands.

 

This may mean getting certifications from organizations like the Rainforest Alliance, so that your customers know you are legitimately doing what you say you’re doing, and so that you can use a well-recognized, credible logo on your packaging and website. 

 

Watch the Cash Flow In…

 

Just kidding! This isn’t Field of Dreams. If you mow down a part of your proverbial cornfield and build a sustainable crop circle, you’re going to have some explaining to do. And, unfortunately, Kevin Costner can’t do it for you (but I can!). 

 

In all seriousness, there is a huge market opportunity for brands that take a stand on sustainability. Unilever’s study revealed a one trillion dollar market opportunity for brands that are credible and clear about their commitment to sustainable practices. 

 

So once you’ve done all the groundwork, you’ll want to create a strategic campaign to launch your new sustainable initiative. Your new sustainable messaging needs to cross-permeate every aspect of your brand presence: your website, blog, events, newsletters, packaging, digital ads, etc. To be believable, you need to be consistent, authentic, and thorough.

 

Charles Etoroma on Unsplash




If you are willing to play the long-game with your customers, to fully understand what matters to them, deliver on it, and build trust – then you’ll have a long-lasting relationship that will be hard for other brands to compete with. 

 

I know that in our household, once we do our research and commit to a brand, we consider it a done deal. Unless there’s some terrible revelation about that company, they pretty much have our business for life. As a consumer, it takes slightly more time on the frontend of the process, but it simplifies shopping from there on out. 

 

As the Neilson report “What’s Sustainability Got To Do With It?” concludes:

 

“No doubt for most consumers and companies, sustainability has evolved from a buzzword or passing trend into a necessary business opportunity. Companies are making strides to take a more holistic approach by looking up and down the value chain to meet consumers’ evolving needs in innovative ways. And in our digital and social media age, transparency

and authenticity are key. Sustainability claims on packaging must also reflect how a company operates inside and out. Winning requires making sustainability a key part of your business strategy from beginning to end.”