The Power of Scarcity: Leveraging Urgency and Demand to Influence Customer Decisions

Summary

Scarcity isn't just one of the key principles of influence, it's arguably the most powerful—invoking the kind of primal instincts that were essential to our ancestors' survival. It's also the explanation for why, in the mid-1990's, $29.99 Tickle-Me-Elmo dolls were being scalped for $7,000 apiece.

In The Power of Scarcity, Dr. Mindy Weinstein leverages her deep expertise in both marketing and psychology to reveal how this influence principle can be used to boost sales, win negotiations, spark action, develop community, build customer loyalty, and more. As a digital marketer and doctor of philosophy in psychology, she brings both practical and academic insights to explain the psychology behind scarcity, why it has such an immense impact on decision making, and how, used correctly and ethically, it can influence the people who buy your products or services.

In this book, you'll gain a deeper understanding of why and how scarcity works in business, and specifically how different types of scarcity messages—supply related, demand related, time related or limited edition—affect our brains. You'll see it in action from multiple perspectives, through case studies, research findings, and eye-opening interviews with current and former executives, as well as real-life customers' firsthand experiences.