People love buying things that very few other people can have. That’s just human nature, and you can take advantage of it. People also have a tremendous fear of loss. If your prospects feel that they will lose out if they don’t act now, that fear can stimulate an otherwise passive prospect into instant action.
Go to an art auction sometime. The auctioneer will always stress when a particular piece of art is part of a limited, numbered edition. Buyers are more willing to get out their checkbooks for a lithograph that is one of 100 instead of one of an unlimited batch.
Of course, if the piece is a one-of-a-kind original, the scarcity can ramp the value into the millions. If there is a limited number of what you’re offering, the customers feel as if they had better take advantage so that they don’t regret it later. Of course, using this tactic doesn’t work with every product. It would be ridiculous, of course, for Pizzeria to claim they had a limited number of pepperoni pizzas. But jewelers, art dealers, and purveyors of quality photography do it all the time, to great effect. READ MORE >>>>
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