Now and Later — use scarcity to encourage action

People have a natural tendency to decide to “do things later” unless there’s a compelling reason to act now.

In business, “later” turns into “never” if the customer forgets about you.

So how can you encourage people to act immediately?

Scarcity.

When people feel like they might miss out on a good deal, they’re more likely to take action.

Create a sense of urgency and excitement around your product or service by adding an element of scarcity to your offer, and you’ll encourage people to buy NOW instead of “later.”

• Limited Quantities – offer a limited number of units for sale.
• Price Increases – the price will go up in the near future.
• Price Decreases – the current discount will end in the near future.
• Deadlines – the offer is only good for a limited period of time.

Caution: Scarcity that appears blatantly artificial or feels manipulative will have the opposite effect — making people want to buy less from you.

PS: Learn more about Scarcity in the Personal MBA: Master the Art of Business by Josh Kaufman