Luxury goods, fashion, fast cars, and status – are all great examples.
People want something others can't have:
- You value your family members because they are the only ones you've got.
- You value your 6-pack abs because they're not easy to get.
- You value a Rolex watch because not everybody can have it.
- We value gold because it's rare.
Scarcity – it means only a few of us can have it.
If your products and services are always available, then there is no value. Smart marketers create scarcity. The harder it is to get a product or offer – the more valuable it becomes.
If people can easily buy your product, and everyone can have it – it's probably time to create scarcity.
But the opposite is also true. People also want something others have.
- Lines at the Apple Store.
- The latest ice-bath craze.
- An electric vehicle.
Merry Christmas! In the spirit of giving, I'd like to share an insightful video lesson from Underdog Con on how Jobbie (the peanut butter brand) grew through partnerships. That's right. Their biggest growth was through partnerships & collaboration, and not their ads – contrary to popular assumptions.