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040: Why Scarcity Leads to Competition (And What We Should Do About It)

040: Why Scarcity Leads to Competition (And What We Should Do About It)

FromThe Psychology of Copywriting


040: Why Scarcity Leads to Competition (And What We Should Do About It)

FromThe Psychology of Copywriting

ratings:
Length:
38 minutes
Released:
Jun 29, 2021
Format:
Podcast episode

Description

Is it okay to use scarcity in our marketing and scare our audience in order to increase sales? What if we stopped using tactics that induce stress and instead implemented the principles of trauma-informed care? Today’s study focuses on what happens when consumers perceive scarcity. Researchers conducted FIVE experiments each with 2 groups: a scarcity group and a control group. The experiments revealed that perceived scarcity increases competitive behavior, causes fear, and even promotes selfish or pro-self behaviors at the expense of others.  What To Look For In This Episode: Why you should stop relying on scarcity tactics in your marketing. The 5 principles of trauma-informed care. How to implement trauma-informed marketing. Journal Article: On the Psychology of Scarcity: When Reminders of Resource Scarcity Promote Selfish (and Generous) Behavior https://www.researchgate.net/publication/282593430_On_the_Psychology_of_Scarcity_When_Reminders_of_Resource_Scarcity_Promote_Selfish_and_Generous_Behavior Caroline Roux, Kelly Goldsmith, Andrea Bonezzi, On the Psychology of Scarcity: When Reminders of Resource Scarcity Promote Selfish (and Generous) Behavior, Journal of Consumer Research, Volume 42, Issue 4, December 2015, Pages 615–631, https://doi.org/10.1093/jcr/ucv048 Resources: Grab a free resource on my site to join my email list How To Write Your Own 6-Figure Sales Page Brand Voice Template Got a question you want answered on the podcast? Awesome! Send it to podcast@geoffkullman.com. Connect with Geoff: Instagram: @geoffkullman Twitter: @geoffkullman Inquiries: geoffkullman.com
Released:
Jun 29, 2021
Format:
Podcast episode

Titles in the series (82)

Discover the copywriting concepts and principles hidden inside the latest and best research within the fields of neuroscience, linguistics, and psychology. Join host Geoff Kullman every week to learn more about what’s happening in the brain of your clients and prospects as they read your copy. Yes, copywriting is an art… but it’s also a science!