Use of Scarcity Tactics On The Internet May Be A Bad Sign For the Product You Want To Buy
Scarcity is just a tactic to get people to buy something. It is based on a deep seated psychological principle / problem that seems to exist in the minds of human beings. That is: Fear of Loss!
Whenever we fear we might miss out on that ‘opportunity’ ‘ forever’ we get scared. Often times that feeling is enough to make us reach into your wallets and fork over our cash to someone else.
Marketers know about this ‘loophole’ in your brain and psyche and they seek to exploit it for profit frequently. You should be aware of this and be on your guard. You’ll see it everywhere once you start looking for it.
Next Time This Happens To You
Resist the temptation long enough to take a rational look at the situation. Ask yourself: If this product is so great why are they putting a time based limit on its availability? Wouldn’t people want to buy it all of the time if it had such great value?
In fact, when it comes to digital / downloadable products, how could there be a ‘limited time’ in the first place? The whole concept of digital means you can make ‘unlimited’ copies at the click of a button. So, how could there be a legitimate limit? How could there be a ‘limited supply’? “Limited Time Only” for digital stuff means they are using the scarcity tactic.
Physical products, on the other hand, actually could have a ‘limited supply’. But even then, there may be many cases where the marketer or company can get more or have more made. But at least they have currently run out – or at least that is what they say. They could also limit the sale to certain number, etc.
But, with digital products, how can someone say they ‘ran out of stock’?
The use of scarcity in the sale of software is an even bigger warning sign. In order for a piece of software to function in the future it will need constant development. In a few years, if no one is keeping up with its development, that software may be completely worthless. It might not even take years for that to happen.
If the marketing of that software is stopping soon, that means there is no incentive for the ‘maker’ of that software to improve it. Once the ‘sale’ is over, he takes the money and has no reason to update or improve the software. After all, he won’t be adding new customers. Of course, they can ‘reopen’ a popular sale later. However, this lack of incentive on development should make you worry about buying any software in which the marketing involves ‘scarcity’. This is usually called ‘abandonware’ in stead of ‘software’.
I have, unfortunately purchased abandonware in the past. It’s disappointing to realize that software you spent $100 bucks on isn’t working a year later when you finally go to use it!
You should question the real value of any product when scarcity is used. Can’t the product stand on it’s own merits without the use of scarcity? Why not?
What Are Your Thoughts On Marketing and The Scarcity Tactic?
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