Why do people pass over perfectly good items in the clearance rack? Why do people work hard to pay full price for a luxury car? Because people want what other people want. This is called the greed factor.
Whenever people see scarcity or a rising demand for something, it is only human nature to want to stake your claim on that thing. We don’t like missing out.
Things that are easy to get are generally treated with less value.
A good friend and business partner of mine went into a Ferrari dealership and saw that the salesmen weren’t rushing to smother the customers. He asked the salesman why they didn’t engage the customers once they came through the door? He said, “driving a Ferrari is a privilege so they wait on us.”
It sounds like a total departure from what the average car buyer experience but it is true. The more people want a Ferrari, the more people want a Ferrari.
How can you capitalize on the greed factor?
Show the demand for whatever you are offering. Let the potential customer know how other people are treating your product or service. Show them that people are asking even begging for what you’ve got. Show them that the supply is limited and compared to the demand, is already spoken for.
“Well if everything is spoken for, there’s nothing left. Why would they continue to want it?” Because you showed the frenzy in the crowd. You showed the public buzz for your offering.
You can snowball the buzz by starting a buzz!!
Then as the crowd hears about the buzz you will put the spotlight on the crowd, that’s watching the crowd that’s watching the crowd that’s watching the thing.
Document the buzz and it will grow and document it as it grows.