Harnessing the Fear of Missing Out During Small Business Season Years ago, when Black Friday was one day and not six weeks long, I suffered from fear of missing out (FOMO) when it came to bargains. I felt (which was indeed the marketer’s goal) that I had to buy at that moment or risk being charged more later. Rarely was I ready to purchase but I did so because I didn’t want to miss the deal. FOMO is a powerful sales motivator, and the holiday season is one of the best times to leverage that tactic for extraordinary revenue. Here are some tips on how you can do just that. How to Get More Sales Through Fear of Missing Out Try these five effective tactics to drive more sales: 1. Limited-Time Offers: Create a sense of urgency by offering limited-time discounts or exclusive deals. Ideas include: ● Flash sales: Offer deep discounts for a short period of time, like 24 hours or until supplies last. Post them on social media or share them to just your email list. Make sure people know only your special subscribers or those who sign up for texts or follow you will know of these incredible savings opportunities. ● Early bird specials: Reward customers who purchase early (or on a specific day) with a discount or bonus gift. ● Pre-order promotions: Offer exclusive benefits to customers who pre-order your holiday products or give them the opportunity for exclusive first looks. 2. Limited Inventory: Anyone who remembers the 1983 Cabbage Patch craze will remember these shenanigans and how a limited inventory can inflate prices and drive interest. (They were not cute dolls, but every girl born in the 70s was convinced she needed one.) Highlight the limited availability of your products to create a sense of scarcity. Consider these tactics: ● Product countdowns: Display the number of items remaining in stock on your website and social media. When they’re gone, they’re gone. ● Limited edition products: Create special edition products or bundles that are only available for a limited time. ● Sold-out notifications: Let customers know when a product is sold out and encourage them to sign up for a back-in-stock notification. 3. Social Proof: Nothing powers social media channels quite like seeing other people in your stream enjoying what you want. It’s likely half the people who went to Europe this summer and fall did so only after seeing on Instagram and Facebook how many of their friends and family were enjoying that continent. “Listen” on the internet for mentions of you and your products/services and show potential customers that others are already enjoying your products and deals. “Everybody is doing it” is not only a reason to do something in high school but also a solid marketing strategy. Never has it been easier to convince others of this. ● Customer testimonials: Share positive feedback from satisfied customers on your website and social media. ● Social media buzz: Encourage customers to share their photos and experiences with your products using a branded hashtag. ● Live sales notifications: Show real-time updates of how many people are purchasing your products. This is also a solid way to entice people to buy online. Go to Goldbelly.com to see it in action. 4. Countdown Timers: Add a sense of urgency and excitement (aka “Get it in your cart NOW!) by displaying countdown timers on your website and social media. These timers can count down to: ● The end of a sale ● The launch of a new product ● The deadline for free shipping (that’s the question that will be on everyone’s minds in a few days) 5. Exclusive Email Offers: Build anticipation and encourage repeat purchases by offering exclusive deals and sneak peeks to your email subscribers. They’ll love: ● Early access to sales: Give your email subscribers a chance to shop your holiday deals before anyone else. ● Free gifts or discounts: Offer a gift or bonus item with purchase to incentivize email sign-ups. ● Behind-the-scenes content: Share exclusive content, like holiday gift guides or product sneak peeks, or unboxings with your email list. Remember, when using FOMO marketing, it's important to be genuine and transparent. Don't create false scarcity or pressure customers into buying something they don't need. You want to drive sales but not at the risk of the customer relationship. Instead, focus on creating a positive and exciting experience that encourages them to engage with your brand and become loyal customers. Wait. Don’t go yet. I don’t want you to miss these important final tips! (See what I did there?) Here are three bonus tips for using FOMO marketing during the holidays: ● Use strong visuals and language to create a sense of excitement. Use a friendly, casual tone like you’re talking to your good friend. ● Promote your FOMO campaigns across multiple channels, including your website, social media, and email marketing. Think of it as a total strategy, not a quick post. ● Track your results and adjust your tactics as needed. By leveraging FOMO effectively, you can drive more traffic, boost sales, and make this holiday season your most successful yet while building excitement among your audience.

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The Economic Development Collaborative will work with CMTC’s California’s Manufacturing Network to assist California manufacturers survive, recover, and thrive throughout the ongoing pandemic and beyond. CAMARILLO, Calif. – The Economic Development Collaborative (EDC) is pleased to announce a partnership with CMTC’s California’s Manufacturing Network to provide direct support to manufacturers negatively impacted by COVID-19. With the pandemic dramatically redefining the landscape for California manufacturers, the EDC will work with CMTC and other members of the Network to help businesses survive, recover, and thrive as they navigate through the challenges brought on by the crisis. “We recognize that manufacturers in our community are in need of support and we want to ensure they have access to the services and programs they need to sustain their operations now and in the future,” said EDC President and CEO Bruce Stenslie. The EDC is providing resources and services at no cost to businesses such as: assistance locating sources of capital and local/state incentives; permitting and site selection assistance; information regarding workforce development programs; and technical assistance through California’s Manufacturers Accelerator program. The goal is to meet with manufacturers throughout the region to identify and understand their specific needs, challenges, opportunities, and provide them with assistance for recovery and growth. “This partnership between the EDC and CMTC is enormously important for the region’s economic recovery, as Ventura and Santa Barbara County’s manufacturing, including biotech and related sectors, comprises more than 20 percent of the region’s economy,” stated Assemblymember Jacqui Irwin. “Strengthening the region’s manufacturing supports our highest paying jobs and brings wealth back to the entire community through its sales of high value products across the globe.” Funding from the CARES Act Stimulus Package 2020 is supporting this effort to reach manufacturing companies who are facing challenges in the current economic climate. Ventura and Santa Barbara County businesses interested in learning more about how to access program benefits are encouraged to contact the EDC Small Business Development Center at 805.409.9159. For media inquiries or interview requests, please contact the EDC’s local media liaison, Lexie Smith, at Lexie@theprbarinc.com. ### About the Economic Development Collaborative A private nonprofit, the Economic Development Collaborative was founded in 1996 with funding from the County of Ventura, the 10 cities in the county and key private-sector companies to provide a pathway to business growth, economic prosperity and high quality of life for all. Today, in partnership with the Small Business Development Center, the EDC is a regional asset for economic vitality in Ventura, Santa Barbara and Los Angeles counties, giving businesses, community partners and civic leaders the resources they need to succeed. By leveraging public and private funds, the EDC has become a key player in delivering business consulting, funding and strategic initiatives that support the region. About CMTC and California’s Manufacturing Network (CMN) Established in 1992, California’s Manufacturing Technology Consulting (CMTC) is a private non-profit corporation that provides consulting services to small and medium-sized manufacturers (SMMs) throughout the state of California. CMTC operates as part of a National Network through a cooperative agreement between the Hollings Manufacturing Extension Partnership (MEP) of the National Institute of Standards and Technology (NIST) under the Department of Commerce for the State of California. In 2018, CMTC formed California’s Manufacturing Network (CMN) to expand capabilities and capacity to efficiently serve more manufacturers in California. This Network delivers services that address the regional challenges driven by a diverse manufacturing community. The Network is a collaboration of more than 25 partners focused on serving SMMs in rural and urban areas statewide. CMN has increased the number of SMMs served to more than 1,300 companies annually, which adds significant economic impact for manufacturers and the public good of the State of California. About the Coronavirus Aid, Relief, and Economic Security (CARES) Act Funding COVID-19 recovery and resilience services funding is made possible by the NIST MEP National Emergency Assistance Program through funding under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (Pub.L. 116–136). To learn more about the EDC visit edcollaborative.com.