I’m sure you’ve heard the term FOMO before, but maybe you aren’t sure exactly what it means. FOMO (the Fear of Missing Out) is anxiety over the idea that an exciting or interesting event may currently be happening elsewhere, often aroused by posts seen on a social media platform or website.
The feeling that other people are getting more out of life, or having more fun than you, makes you want to join in on the action. This tactic works in marketing because it’s a feeling a brand can create on their own and it grabs the attention of your customers and prospects. See how FOMO works and why it’s good for your brand and influencer marketing strategy.
FOMO Happens Online
The fact that FOMO is triggered by seeing information online works in the favor of brands everywhere. Millennials are at the center of this concept and they’re also the ones spending all of their time on social media. Some brands have mastered positioning themselves as catalysts that enable consumers to put themselves at the center of what’s happening, implying that you’ll miss out if you aren’t plugged into the brand.
Sharing is at the Center of FOMO
Engagement is measured by comments, interactions and shares. FOMO is based on the idea of letting everyone know you’re doing something cool, in a cool place with cool people. Brands are always striving to create shareable content, so why not use a social influencer marketing strategy involving FOMO to get your brand to stand out from the crowd. Get fans talking about you and soon you’ll have all sort of people wanting in on the action.
FOMO Favors Experiences
According to a study conducted by Eventbrite, 69 percent of millennials experience FOMO when they can’t attend something that their family or friends are going to. “For millennials, FOMO is not just a cultural phenomenon, it’s an epidemic,” the report reads.
At the core of FOMO are experiences. Brands are already all about creating and promoting experiences, so why not stretch the idea a little further and build upon this concept of the fear of missing out? Concerts, festivals and themed parties are all ways to bring your audience together in a fun and playful environment. It’s your job to create plenty of chances for followers to take pictures, post to social media and let everyone know what a great time they’re having. This will also produce plenty of material for your ugc marketing efforts.
FOMO Elevates your Events
FOMO also allows you to take your events to a whole new level. Brands and marketers have been organizing and launching events forever, and it’s no different when you’re trying to generate FOMO. It can be crafted and executed through the use of online and offline exclusive events coupled with the help of a few key social influencers. You’re probably already running some successful events, so why not put in a little more work in to make them something everyone fears they’ll miss out on.
FOMO isn’t just a fad, it’s a part of life for many people. The rise of social media has brought with it a plethora of new challenges and confusion, but also many opportunities. The feeling isn’t going away and we know it works, so brands and marketers might as well work with it and use it to their advantage.