After generating over $14 million for clients this year I've noticed a trend that's become popular among online businesses.
And that's that scarcity isn't as effective as it once was.
"Limited time" discounts aren't selling as much.
"Time is running out" messages are leading to unsubscribes.
And "Limited stock available" is less effective than ever.
Why exactly is this happening?
It's because of the way modern audiences have been programmed.
In a fast-paced world of social media and cheap dopamine audiences know that it's easier to get discounts than ever.
Most eCom stores are running multiple offers a month and scarcity just isn't as effective anymore
And in all honestly, I think this is the start of a larger trend that brands can capitalize on.
Brands have two options.
They can jump on board the quick wins train and offer discounts.
They'll make more short term sales and numbers will look better for the year.
But here's the thing...
They'll also attract and retain cheap customers.
These people are buying based on price alone.
Which means fewer sales when the brand doesn't run offers and low brand loyalty.
Alternatively, brands can run just a few offers a year.
One of my clients runs 4 discounts a year.
And yet we still send at least 3 emails a week.
Instead of purely selling, these emails educate the reader about product benefits, future effects and customer stories.
Over time, this builds trust with the reader which translates to consistent revenue and greater loyalty.
As the market becomes ever more competitive brands that choose the first option will see two things.
Number 1: Their income will have peaks and dips.
People will buy when offers are run and avoid any other time of year.
Number 2: They'll face a race to the bottom.
While discounts are great, they also reduce overall revenue.
Do that enough times and your brand is barely making revenue on each sale.
Companies that choose option two will see the opposite.
Number 1: Their income will become more stable
A loyal audience leads to a consistent revenue stream with huge profits when rare offers are run.
Number 2: The brand will stand out for what it offers
In short, the brand will be praised for the quality of its product and audience instead of being another cheap brand.
So how can this help you with your clients?
First, cut down on the offers.
Yes, they're an easy win. But if you keep running them you'll do more harm than good.
Second, start building a loyal audience with other copywriting tricks.
Stories. Testimonials. Benefits. Future pacing.
You have so much to work with that you don't need to send regular discounts.
While your initial results might not seem as impressive, you'll have happy clients after 6 months while your competitors continue to chase cheap wins.
Have a great week,
Copy "don't overuse scarcity" Maverick
