Are you offering incentives or leveraging FOMO?

Offering incentives on first purchases for a limited duration can help you leverage the fear of missing out. It acts on visitors’ psychology that they are going to miss out on a discount offer and compel them to purchase immediately. Ultimately, it results in boosting your conversion rate.

Most visitors will choose between you and your competitors based on who offers the best discounts. They will definitely pick you if your introductory offer is better.

These incentives act as a magnet for visitors’ first purchases. The value in your offers makes a strong first impression on visitors. It helps them memorize your brand and increases the chances that they’ll become returning customers.

First-time-purchase incentives create goodwill between you and the customer that you can extend into long-term incentives with reward points and redemption options at the checkout.

Putting a time limit on introductory offers provokes a Fear of Missing Out (FOMO) reaction from visitors, creating a sense of urgency and prompting them to buy immediately rather than procrastinating. Marketers who don’t utilize FOMO are missing out on a significant source of income.

Example of FOMO in e-commerce

If you have a SaaS or other service as a product, you can put a time-limited discount on it or any other purchase incentive.

You can also send free samples to build trust within long-term customer relationships. It’s a good idea to add free samples of your other products to each purchase. After testing them, the buyer may be interested in these other products as well. As a SaaS website owner, offering a short free trial is another effective option.