How to Use Scarcity to Influence Customer Decisions
Shep Hyken interviews Mindy Weinstein, author of The Power of Scarcity: Leveraging Urgency and Demand to Influence Customer Decisions. She talks about the four types of scarcity and how businesses can use them to create community, loyalty, and excitement around their brand.
“Scarcity creates community. When done right, incorporating scarcity can help brands create loyalty, excitement, and bond with their customers.”
“Using scarcity to build community, strengthen customer relationships, and create fun and excitement around your business can be done without spending a dime depending on how you position your message.”
“Informing people about your product’s scarcity is not just about drawing them in. It’s about letting your customers know that they are important, and you want to keep them in the loop on what’s happening.”
Mindy Weinstein is the author of The Power of Scarcity: Leveraging Urgency and Demand to Influence Customer Decisions. She is a marketing instructor at Grand Canyon University and a program leader for The Wharton School at the University of Pennsylvania and Columbia Business School.
Shep Hyken is a customer service and experience expert, New York Times bestselling author, award-winning keynote speaker, and host of Amazing Business Radio.
This episode of Amazing Business Radio with Shep Hyken answers the following questions and more:
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