Just one small tweak to your website can lead to a 40% increase in new clients.
It’s all about scarcity. And in this video, I’m talking to Dr. Mindy Weinstein, who literally wrote the book on Scarcity.
It’s more than just a marketing hack or random concept. It’s like a cheat code for your business, backed by hard data, making your audience want your services more AND making decisions faster.
Grab your copy of Scarcity here:
Check out Dr. Mindy Weinstein here:
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This marketing agency saw a 40% increase In new clients just because they added One simple sentence to their website it May sound like a cheat but it's Completely backed by science and human Psychology in fact when average Consumers were asked 45% of them said That when they see this principle in Action it makes them more interested in Buying as opposed to only 177% who say That it turns them off so what is this Cheat code to more interest and more Sales Imagine you're casually checking out a Personal trainer's website you're not Ready to commit you're just looking for Now then you notice that the site Mentions they're down to their last Available slot for the month what does That information do to you it triggers Something right you know you suddenly Feel a pressing need to grab that last Spot even though seconds ago you were Just window shopping don't feel targeted Or manipulated it's just your brain Playing by the rules of scarcity now the Principle of scarcity says that we want Now what we think we may not be able to Get in the future it's some Unavailability or a restriction of some Type that's Dr Mindy Weinstein and she Literally wrote the book on scarcity This one in fact the power of scarcity If you can in some way show that you're
Exclusive you're selective you have Certain popular service bundles the part Of our brain that's associated with Value will light up right away and this Has been seen in brain scans so I'm not Talking about scarcity in terms of Telling a participant that they're not Going to get food and water or something That's essential to their survival I Mean these are things like an auction Simulation there's a sale going on but The fact is the brain reacts the same Way and this isn't just some random web Tactic there's actual data behind it a Study conducted by Northwestern University found that products with Limited availability were rated as more Attractive it's almost like the Potential of losing out on a product Elevates its perceived value and Scarcity doesn't just make people want Your services more the other thing that Happens is quicker decisions are made if You can incorporate scarcity in a Truthful fun way authentic way you can Really take advantage of getting people Closer to that decision and also helping Them value what you provide even more And if you thought that scarcity Marketing tactics only apply to products It actually works even better with Service businesses for the simp Le Reason that you can usually only help so Many people and so it already exists so
If you just tell people your potential Customers or clients we take on this Amount of projects at a time or we have A wait list all of that's still scarcity And while we're on the subject of Helping people see that they need your Services sooner than later I do want to Let you know about my free Master Class Where I'm going to show you exactly how To turn your website into an automated Client generating machine for your Business this is is the best possible Time to get in on that to gear up for 2024 so it's going to take all the Guesswork out of what your website needs And what you should be leaving out that Actually hurts your chances of making Sales and Landing clients so just go to West mcd.com trining to sign up for free So what are the different varieties that Scarcity comes in there's four different Types of scarcity there's Supply related Demand related there's time related and Limited edition so let's talk about each Of these one at a time along with with Some good examples of how a service Business like yours might be able to Take advantage of each one starting with Supply related and when we're talking a Shortage in the supply for a service Business what that usually means is time Right you may want to work with Everybody who comes knocking on your Door but the truth is you're limited to
A finite number of people that you can Physically help in a day all you need to Do is make that known so you could say You know what um I only take on five Projects at a time or my team only works With you know five or 10 clients at any Given time we do have an opening coming Up you know we would it we'd love to Talk to you to see if we are a good fit For you that's none of that's Manipulative none of it and it's just The words you're using and it's Completely authentic and what's Interesting if you use that type of Verbage it really does change the Conversation because now they want to Work with you because you've showed Demand for you in your services or your Team but at the same time you've also Really showed that exclusivity so them Working with you it's like they won they Got that spot so there was one Particular company that I consulted and We talked a lot about the verbiage that They were using when they were talking To prospects and once they started doing That they actually increased their close Rate in these meetings by 40% so it does Work I've seen a lot of service Businesses actually take this one step Further and make their prospects apply To work with them you the idea being That you know we're so busy that we need To make sure that you're a good fit for
Us to make it worth it do those work do You think or do you think that goes a Little too far yeah no actually they They do work so there is a fine line to It so yes have a little tiny bit of Friction but don't have it so much where You're giving someone this huge Questionnaire that they have to fill out When something's attainable and we think It can you know we're going to be a Little bit more motivated but if it's Too daunting they're not going to do it Ever notice how that packed restaurant On the corner makes you want to try it That's demand related scarcity in action It's like they're silently telling you This is what's hot right now so then With demand related scarcity that is Showing popularity of some type and this One is actually really easy it with Services because you can do it in a few Different ways you can let's say on your Website if you have different levels of Your service so different levels or Different programs or whatever it might Be You can indicate the most popular or the Best seller and all you need to do is Put a label on it you've seen it on Websites before where businesses Specifically call out this package or That service as the most popular or Bestselling one we've seen through Psychological research that doing that
People actually really like it because It helps them take that shortcut of like Well no I don't have to sit and try to Think about which one I'm going to do When you put your top services in the Spotlight on your website it's not just A flex it's you subtly offering a short Cut to your most popular offer and guess What this tactic comes in handy not just On your website but you could do the Same thing in a proposal so with Services so just like you could do that On your website if you're creating a Proposal and you're giving options you Can indicate which one is the most Popular you know which one do most Clients or customers select and so you Can do it there it doesn't necess have To just be on your website and while You're making it easy for your clients To decide you can actually make it even More of a no-brain trer by adding in a Little something extra with a limited Edition offer limited edition is just Some type of spin on the original so With Services it could be that for the Holiday season you are doing this Special package where someone signs up For this service they also get this Bonus whatever it might be so this could Look like bundling a few Services Together into one package like a plumber Might put together a winterized your Pipes offer every fall that includes
Several services for one all-in price or It could just be a different spin or Emphasis on what you already offer maybe A vet could offer a Golden Paw special You know a special checkup aimed at Senior pets or a tutoring service might Offer a finals Focus package Concentrated study sessions for students In the final weeks leading up to final Exams each of these offers is rooted in The everyday services that these Businesses provide but tailored just Enough to offer something special and Timely amplifying their appeal and Speaking of timely Tim related is a time Restriction of some sort but it could be Countdown timer so counting down to an Event that you're having it could be a Sale so maybe you are offering a Promotion for a certain time so all of That's time related and what happens in That situation is that someone is now Competing with the clock so just come up With and get the word out about a deal Attached to a deadline it's the Black Friday type of deal and it works for any Type of business there is but it does Usually rely on offering some type of Discount which isn't ideal for every Business if you're going to do it just Be careful on that one because if you do Too many promotions or you do the same Promotion all the time I'm sure most People have heard this before you end up
Devaluing your services because now They're like oh well your service is Just worth what that promotion is I'm Just going to wait till you do your next One so use that one a little bit Carefully time related offer offers work Best when you time them to your typical Slow or off peak periods like a moving Company that gives you 20% off during Midweek moves or a buy one room get one Free house painting special in the Slower winter months but how exactly are You going to get more clients using Nothing but your website year round I Got you covered in my free ond demand Masterclass training where I'm going to Show you my complete client generating Website system that's proven to double Or triple the leads you're getting right Now the best part you can implement this Whole thing over a weekend so click Right here to get in on the training and I'm going to show you everything you Need and everything that's probably Holding you back too so click here and I'll save you a seat
Top Tips For Making Internet Marketing Work For You
The internet is one of the newest and most effective tools you can use for marketing a product or a service. Whatever it is that you are trying to market, if you learn a few simple tricks of the trade, soon you will be a master of online marketing.
Anticipate your audience. Think about why people are coming to your site and what products they are searching for and in need of. Don’t put ads that are off topic. If ads are relevant to your site and what your readers are searching for, your ads will be more successful.
Once you have written content that attracts people, keep it and use it again later. People will probably lose interest and unsubscribe from your email list after a while. Target your new subscribers by recycling old content that they have not see yet. You can send recycled content every six months.
A key element of internet marketing is joining a social network. Staying active on a website your customers frequent will help you convince them to come and shop, and it can help draw in their friends to shop too. You can also use these websites to get feedback from your customers and use this to improve the customer’s experience.
Make sure to utilize videos for a product or service demonstration. These days, there is an expectation from consumers that they will be able to see the product in action. Making ‘how it works’ videos contributes to building trust with potential buyers, helping them move one step closer to buying your product.
As was previously mentioned, the internet is an extremely good tool for marketing. It gives you access to a vast, literally worldwide, marketplace. It is full of opportunity. If you take the time to learn a few simple yet effective tips, you will find your pockets filing up twice as fast.