Scarcity, Urgency, and Dynamic Vouchers
Scarcity and urgency are two important elements of a successful campaign. They're often used together, but knowing when to use each can help you craft more engaging campaigns that prompt customers to make a decision quickly.
Scarcity is a measurement of quantity (supply), while urgency is a measurement of time (a deadline). Today, we’ll be sharing how the Dynamic Vouchers feature allows you to use each of these elements to ethically drive customer behavior with full transparency.
A Dynamic Voucher provides prospects with maximum value up-front while decrementing the offer’s value as the expiration time approaches. With each minute, hour, or day that passes, the customer misses an opportunity.
All recipients of the campaign can see the value decrementing on their device in real-time, without having to refresh or reload a page. Unlike other forms of discounts, this interactive nature of the campaign keeps prospects engaged since it’s not so easily dismissed.
This encourages customers to take action quickly for maximum value while motivating any subscribers on the fence to make their first purchase with your company. It might be just the encouragement they need.
Dynamic Voucher campaigns can also have a constraint on the maximum number of redemptions. This provides prospects with transparency for the supply (scarcity). Recipients can see there are only X remaining, as each claimed voucher is subtracted from the sum in real time.
This uses both scarcity and urgency to drive customer behavior while keeping the playing field level for all recipients, and providing full transparency as you promote your products and services to them.
For more great tips on crafting engaging offers, including the use of scarcity and urgency, we strongly recommend “$100M Offers” by Alex Hormozi. It’s an incredible resource that every business should have.
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