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MarketingNewz
Scarcity and what it means to online marketing

By Bill Conticchio

March 30, 2016

As marketing people, we are often reminded of the principles of supply and demand. With the advent of digital marketing we’ve become pretty good at applying market timing (right time, place, and offer) to our methodology. Current digital has enabled us to adopt an “everything/anything at our fingertips” mindset. However, it has not escaped my notice, or that of others, that few practice the principle of scarcity as skillfully as they could. That is, when demand can be heightened through the illusion of short supply. Short supply can motivate us to act sooner than we would normally. It causes us to buy for more and maybe even buy more than we want or need. It seems that every year we witness a few skilled practitioners who may be pursuing a new smartphone pre-launch, for example, where hype creates a heightened demand. That demand is because of the notion of limited availability that ultimately spills over to sales of accessory products or other items nearby not even related.

There are risks in the above approach however, potentially [...]

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