The FOMO marketing strategy is a form of marketing in which you leverage the customer’s time-sensitive desire and market to them in order to make a sale. The marketing message and advertising is structured in a very specific way. Such that, it triggers impulsive customers to make a purchase.
One recent example in Singapore, Malaysia and other cities was the launch of the Swatch-Omega collaboration – the Moonwatch. Hours before the stores opened, customers queued up for hours to wait in line at the chance to buy the watch, even though it was not a limited edition. The crowds got rowdy and the police had to be called in.
So why were so many people scrambling to get in line for the chance to get a Moonwatch at wee hours of the morning?
Join certified marketing management consultant J C Sum, as he discusses how brands and marketers use FOMO marketing to psychologically pressure customers into wanting a product or service. He also shares his experiences with FOMO marketing at a Xiao Long Bao restaurant in Shanghai, and offers his thoughts on the recent Moonwatch launch.
00:43 J C’s encounter with long queues for grabbing Xiao Long Bao
02:39 The Moonwatch madness
04:11 What does FOMO means
06:55 Devious ways to take advantage of FOMO marketing
About One Eye Deer:
The One Eye Deer podcast is produced by Evolve & Adapt, an award-winning strategy & digital consulting firm based in Singapore and Malaysia.
If you are looking to build your brand and generate massive leads and sales, book a marketing consulting call at EvolveAdapt.com
The name of the podcast was inspired by the riddle:
What do you call a blind deer?
No eye deer.
Since the podcast explores one marketing idea each episode, it features “one idea” (one eye deer).
The podcast is more than 2 years in the making. The idea of a podcast was first conceived in early 2020. It took shape as “One Eye Deer” in Feb 2021 and finally launched 13 months later.
The “One Eye Deer” mascot was designed by Eugina Lee (IG : lee.eugina) based on the concept developed by J C Sum.
One Eye Deer theme performed and produced by Darren Teh, An Honest Mistake.
Adapted from “Do-Re-Mi”, “The Sound of Music”. 1959 Rodgers and Hammerstein.