Scarcity, urgency, and a sense of accomplishment

Here’s how a great bebopper on the subway was selling his CDs.

“We started today with 100 CDs and we’ve sold 48… we’ve got 52 to go.  They’re only $5 each.  If you stand up and buy one you’ll create a cascade of other buyers!”

Nice.

Let’s parse that pitch:

–          “We started today with 100 CDs and we’ve sold 48:” these things are good and they’re selling fast.  Other people have decided that they’re good already.  You’re joining that crowd when you buy one.

–          “, and we have 52 to go….” we’re getting towards the finish line, and you can help us….

–          “If you stand up and buy one you’ll create a cascade of other buyers!” your actions are bigger than just you.  A lot more is going on here than you giving us $5 and us giving you a CD.

Without a doubt, it’s almost always better to create scarcity, a sense of urgency (a deadline) and a feeling of accomplishment on the part of your buyer (donor).

And no, it doesn’t always have to be “act fast time’s running out” (though that’s usually a good thing…but then again it’s not true each and every time).  But there’s a lot more you can do than describe just the thing that you’re selling and how much you’re selling it for.

Help people understand that you have a limited number of seats (scarcity), where the finish line is how they’re helping you get there (urgency), and how their actions can and will influence others for great impact (sense of accomplishment).  And then take the concrete steps that allow you to keep each of these promises that you’re making.

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