Apr 8, 2023
Did you know that FOMO, or Fear of Missing Out, is a powerful motivator for customer behavior? Organizations today should find ways to leverage the power of FOMO with their customers.
I was surprised to learn how much of an addiction social media was for some people and how it linked up with feelings of FOMO. You might be as surprised by these statistics from 2021 as I was:
In this episode, we explore what FOMO is and how it affects what we do and why. We also talk about a couple of practical (and ethical) ways you can leverage its power to increase the profits for your bottom line.
Key Ideas to Improve your Customer Experience
Regret, even the anticipation of regret, is a huge part of FOMO. These feelings are associated with Loss Aversion, which describes how we hate losing things more than we enjoy gaining things. If we feel like we missed out, we are losing out on the chance to be a part of something—and we really don’t like that feeling.
Here are some other key moments in the discussion:
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