How To Create Scarcity

The Law of Scarcity plays a large role in the persuasion process.  Opportunities are always more valuable and exciting when they are scarce and less available.  We want to be the ones to own the rare items or to get the last widget on the shelf.  The more one increases the scarcity of an item, the more the item increases in value, and the greater the urge to own it.

1.  How can you create scarcity using time, information, price, and knowledge?

2. What areas can you use to increase scarcity and urgency with your product or service?

Deadlines

Limited Space

Restricting Freedom

Hard to Find

Lost Opportunity

More Valuable

3.  How can you create a deadline to help your audience create inner urgency?

4.  What can you say to "take away" your product or service to create instant scarcity?

5.  Which of the following items can you use to create scarcity with your product, service or idea?  How will you implement those techniques?

· Clubs and restaurants that create exclusive membership requirements 

· Collectors of antiques and baseball cards

· Special "by invitation only" sales 

· Going out of business sales

· Offers not available in stores

· Exclusive, one-time offers

· Sale ends soon

· Something they can't have

· Once in a lifetime chance

· Inner circle

 Copyright 2002, Magnetic Persuasion, Inc.