The $81 Million Dollar Marketing Tip

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"Sale ends tomorrow"
"Only 2 more at this price!"
"20% off if you book now"
"Deadline is tomorrow"

You've seen these tactics on websites, online ads, TV commercials...but do they really work??

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One of the most powerful marketing tactics outlined in Robert Cialdini's book, Influence is SCARCITY:

"Opportunities seem more valuable to us when their availability is limited"

Recently I found an example of this tactic...that cost the buyer $81 million dollars more than they wanted to pay!

From the recent NY Times article detailing financial problems at FC Barcelona:

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"Executives from FC Barcelona (the richest soccer club in the world) had come to one of Monte Carlo’s most exclusive hotels to strike a deal with the German club Borussia Dortmund for one of the most exciting young prospects in Europe: the French forward Ousmane Dembélé.

Barcelona had decided on its strategy and its price: Dembélé, in their eyes was worth $96 million and not a cent more. No matter how hard Dortmund pressed for a higher fee, they would hold firm.

However, Dortmund’s executives had decided on a strategy, too. The Germans told their guests that they had a plane to catch. They had no time to exchange small talk, and they were not here to negotiate. If Barcelona wanted Dembélé, it would have to pay roughly double the Spaniards’ valuation: $193 million. The price would make the 20-year-old Frenchman the second-most expensive soccer player in history.

Barcelona’s president was stunned. But he did not walk away. He quickly agreed to pay almost the entire amount. For all his intentions of playing hardball, he felt he did not have a choice."

FC Barcelona ended up paying approximately $177 million - the 'deadline' tactic forced them to pay $81 million dollars more than they wanted to!!


You can read the full article here:
https://www.nytimes.com/2021/02/12/sports/soccer/barcelona-messi-contract.html

The next time you’re launching an offer or a sale, you should consider using this amazingly powerful tactic.

Please note: if you use scarcity, you need to follow through and be firm. If you back off your scarcity, it will backfire on you.

Do you have an example of the use of scarcity working? Let me know!