Zig Ziglar came up with the 5 Obstacles to buy:
The next 2 posts will discuss No MONEY & No HURRY – I’ll be covering trust, desire and need in the letter. (which you can sign up for here if you want.)
There’s no deadline or there’s tonnes of stock, there’s no reason why the customer has to make a decision to spend – they can put that off until next week, and the next, and the next and so on and so on… until they’ve never shopped with us, not even once.
Creating scarcity creates urgency, a reason to pay now instead of waiting.
The sale is only on for a weekend, or a weekend or a day or an unbelievable discount that’s only available for 3 hours.
That’s how to create a hurry, create urgency and make the customer throw their money down.
Clearance items, “last season”, one of a kind, artists proofs, limited editions, closed runs… these have
scarcity built right in because there is a limited, finite number available and once they’re gone there won’t be anymore and you’ve lost your chance to purchase.
Limited special editions or bonuses work in the same manner. For a limited time, a limited quantity of special bonuses will be available. The idea that customers will flock as soon as possible to get the “thing”, and the hope that the thing will become more valued because there aren’t as many of them out there.