How FoMO Sells More Hotel Rooms
We've all experienced the thrill of snagging a great seat at a sold-out event, of finding a rare collectible, or getting a great deal during a clearance.
Savvy hotel marketers know this as scarcity marketing, which motivates people to purchase something by letting them know there are limited items available or a limited time to buy.
The premise is to make people act fast by creating a sense of urgency and make your guests have a fear of missing out (FOMO in millennial speak). And just like coveted antiques, the more rare something is, the more valuable it becomes.
There are several smart hotel and travel websites, most especially OTAs, that have adopted scarcity marketing to drive room bookings and to get people to stop waffling on their purchase decisions.
(Read more at: Hospitality.cvent.com)