How do you escape FOMOโFear Of Missing Out?
The othยญer day, Anne signed up for my mailยญing list.
After leavยญing her email address, she was taken to a landยญing page where I asked her to share her biggest digitยญal marยญketยญing and comยญmuยญnicยญaยญtions chalยญlenge. Anneโs biggest chalยญlenge was to keep up with digitยญal trends in todayโs online landscape.
Anne wrote:
โMust we become fuckยญing experts on โPokรฉmon Marketingโ now?โ
I feel you, Anne. She shares her frusยญtraยญtion with hunยญdreds of othยญer readยญers who have answered that same quesยญtion over the years.
How can one keep up in todayโs wired world?
Here we go:
The Digital Space is Too Big: Keeping Up Is Futile
You could pick a chanยญnel like Youtube and immerse yourยญself only to realยญise that you must choose a more preยญcise focus. Now, you might try getยญting a handle on Letโs Play walkยญthroughs, only to learn that you must dedยญicยญate yourยญself to a parยญticยญuยญlar gamยญing genre.
Every time you scratch a new shiny digitยญal surยญface, an even bigยญger online uniยญverse opens up. Itโs not humanly posยญsible to keep up with all the new digitยญal trends emerยญging all around us.
As a pubยญlic relaยญtions proยญfesยญsionยญal whoโs been into digitยญal PR for decยญades, I would sugยญgest anothยญer approach. As I see it, itโll be enough to keep up with those trends that will affect your business.
The trick, of course, is to spot those digitยญal trends that truly matยญter to you and your brand.
How Artificial Scarcity Works
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The Principle of Scarcity
The prinยญciple of scarcity is well-estabยญlished in sciยญentifยญic litยญerยญatยญure. If someยญthing seems scarce, we antiยญcipยญate our posยญsible regret of failยญing to acquire the resource in time:
โIn 2 experยญiยญments, a total of 200 female underยญgraduยญates rated the value and attractยญiveยญness of cookยญies that were either in abundยญant supยญply or scarce supยญply. [โฆ] Results indicยญate that (a) cookยญies in scarce supยญply were rated as more desirยญable than cookยญies in abundยญant supยญply; (b) cookยญies were rated as more valuยญable when their supยญply changed from abundยญant to scarce than when they were conยญstantly scarce; and ยฉ cookยญies scarce because of high demand were rated highยญer than cookยญies that were scarce because of an acciยญdent.โ
Source: Journal of Personality and Social Psychology 1Worchel, S., Lee, J., & Adewole, A. (1975). Effects of supยญply and demand on ratยญings of object value. Journal of Personality and Social Psychology, 32(5), 906โโโ914.
We are proยญgrammed for surยญvivยญal and will, thereยญfore, a) overยญvalue items and serยญvices that are scarce and b) underยญvalue those plenยญtiยญfully. 2Silfwer, J. (2016, August 4). FOMO & Digital Trends: You Donโt Have To Catch Them All. Doctor Spin | The PR Blog. https://โdocโtorโspinโ.net/โfโoโmo/
Creating artiยญfiยญcial scarcity (by limยญitยญing availยญabยญilยญity) is a powerยญful PR strategy, but to avoid backยญfirยญing, the PR proยญfesยญsionยญal must refrain from framยญing the offer using untrue statements.
Learn more: The Power of Artificial Scarcity
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The Science Behind FOMO
FOMO is typยญicยญally described as a perยญvasยญive appreยญhenยญsion that othยญers might be havยญing rewardยญing experยญiยญences from which one is absent and is charยญacยญterยญized by the desire to stay conยญtinuยญally conยญnecยญted with what othยญers are doing.
FOMO is often assoยญciยญated with feelยญings of anxiยญety and disยญsatยญisยญfacยญtion and has been linked to negยญatยญive outยญcomes such as lower mood and life satยญisยญfacยญtion, poor sleep qualยญity, and probยญlemยญatยญic use of social media.
There is a growยญing body of sciยญentifยญic litยญerยญatยญure explorยญing the concept of FOMO, or Fear of Missing Out.
Here are some key studies:
These studยญies sugยญgest that FOMO is a real psyยญchoยญloยญgicยญal pheยญnomenยญon that can conยญtribยญute to variยญous issues, parยญticยญuยญlarly in relaยญtion to menยญtal health and techยญnoยญlogy use.
As social media plays a sigยญniยญficยญant role in our lives, underยญstandยญing and addressยญing FOMO becomes increasยญingly important.
The Pointless Pokestop
The othยญer day in Stockholm, I walked past a locยญal store for office supยญplies. There was a Pokestop right outยญside their storeยญfront, as cirยญcumยญstance would have it. 3A Pokestop is a virยญtuยญal in-game feaยญture of the popยญuยญlar mobile game Pokรฉmon Go, a game that blends with real-world locยญaยญtions.
In an attempt to grab this marยญketยญing opporยญtunยญity, they got into Pokรฉmon Go and added lures to the Pokestopโโโwhich they advertยญised on a writยญten sign in one of their winยญdow disยญplays. 4Again, for those not up to speed with all things Niantic, a lure is a virยญtuยญal item and part of the game. By plaยญcing your lure at a Pokestop, you attract virยญtuยญal creatures for othยญer playยญers to catch. โฆ Continue readยญing
I got curiยญous and found a cafรฉ across the street. In an hour, two Pokรฉmon Go playยญers, less than 15 years old, stopped by the Pokestop outยญside the storeยญfront, but none cared about enterยญing the office supยญply store.
Boldly, I assumed that Pokรฉmon Go playยญers genยญerยญally arenโt in the marยญket to stock up on printยญer ink.
It got me thinking.
I checked the office supplierโs webยญsite, which wasnโt optimยญised for mobile. The webยญsite couldnโt tell me whethยญer or not they had cerยญtain products in stock or not. Wouldnโt their marยญketยญing efforts have been betยญter spent jackยญing up their site?
Letโs imaยญgine that the webยญsite has 500 unique hits every day. What if the office supยญpliยญer had aimed their โcreยญatยญive ambiยญtionsโ at those 500 daily web visยญitยญorsโโโinstead of tryยญing to conยญvert two young Pokรฉmon Go players?
The FOMO Filter
A part of me celยญebยญrates the office supยญpliยญer for takยญing a chance to try someยญthing new. โFortune favours the bold,โ and so on.
Still, someยญthing must be said about takยญing unneยญcesยญsary gambles when thereโs plenty of othยญer low-hanging fruit. Marketing and comยญmuยญnicยญaยญtions are fiercely comยญpetยญitยญive simply because we comยญpete for one of the worldโs rare and most valuยญable natยญurยญal resources; peopleโs attention.
The quesยญtion we should be askยญing ourselves:
The FOMO filยญter: Before experยญiยญmentยญing with excitยญing online trends, ask yourยญself: have you exhausted all existยญing PR- and marยญketยญing opportunities?
Stay Focused, Stay Sharp
Businesses canโt afford to jump on every online bandยญwagยญon (Clubhouse, anyยญone? Or perยญhapsโโโthe Metaverse?) that seems to be in vogue.
It turns us into FOMO-sufยญferยญing neoยญphiliยญacs. We fall prey to our strategies of manยญuยญfacยญturยญing artiยญfiยญcial scarcity.
The office supยญply storeโs marยญketยญing team should be excited about inbound marยญketยญing, Google AdWords, cusยญtomยญer loyยญalty, marยญket research, online conยญverยญsion, search engine optimยญisaยญtion, and eโcommerceโโโinstead of Pokรฉmon Go.
So, Anne and everyยญone else strugยญgling to keep up, you donโt have to catch them all!
Just. Stay. Business. Relevant.
Thank you. Please supยญport my blog by sharยญing artยญicles with othยญer comยญmuยญnicยญaยญtions- and marยญketยญing proยญfesยญsionยญals. Please also conยญsider my PR serยญvices or speakยญing engageยญments.
Update: Since someone asked:
PR Resource: The Anatomy of Attention
The Anatomy of Attention
Attention is an essenยญtial comยญponยญent of pubยญlic relations:
And itโs not just organยญisaยญtions. We all seem to crave attenยญtion in some form or another:
โPeople want to be loved; failยญing that admired; failยญing that feared; failยญing that hated and desยญpised. They want to evoke some sort of senยญtiยญment. The soul shudยญders before obliยญviยญon and seeks conยญnecยญtion at any price.โ
โ Hjalmar Sรถderberg (1869โ1941), Swedish author
Itโs fear of social isolยญaยญtionโand attenยญtion starยญvaยญtion.
โThereโs only one thing in the world worse than being talked about, and that is not being talked about.โ
โ Oscar Wilde
Types of Attention
But what conยญstiยญtutes โattenยญtionโ?
โAttention is a comยญplex, real neurยญal archiยญtecยญture (โRNAโ) modยญel that integยญrates variยญous cogยญnitยญive modยญels and brain cenยญters to perยญform tasks like visuยญal search.โ
Source: Trends in cogยญnitยญive sciยญences 5Shipp, S. (2004). The brain cirยญcuitry of attenยญtion. Trends in Cognitive Sciences, 8, 223โโโ230. https://โdoiโ.org/โ1โ0โ.โ1โ0โ1โ6โ/โjโ.โtโiโcโsโ.โ2โ0โ0โ4โ.โ0โ3โ.โ004
Each of the below terms refers to a speยญcifยญic aspect or type of attenยญtion (โmenยญtal bandยญwidthโ), a comยญplex cogยญnitยญive proยญcess. 6Schweizer, K., Moosbrugger, H., & Goldhammer, F. (2005). The strucยญture of the relaยญtionยญship between attenยญtion and intelยญliยญgence. Intelligence, 33(6), 589โโโ611. โฆ Continue readยญing
Letโs explore difยญferยญent types of attention:
Each type of attenยญtion is likely to play a role in how we interยญact with and proยญcess informยญaยญtion from our envirยญonยญment, and underยญstandยญing these difยญferยญent aspects is key in fields like psyยญchoยญlogy, neurยญosยญcience, and education.
Learn more: The Anatomy of Attention
Annotations
1 | Worchel, S., Lee, J., & Adewole, A. (1975). Effects of supยญply and demand on ratยญings of object value. Journal of Personality and Social Psychology, 32(5), 906โโโ914. |
---|---|
2 | Silfwer, J. (2016, August 4). FOMO & Digital Trends: You Donโt Have To Catch Them All. Doctor Spin | The PR Blog. https://โdocโtorโspinโ.net/โfโoโmo/ |
3 | A Pokestop is a virยญtuยญal in-game feaยญture of the popยญuยญlar mobile game Pokรฉmon Go, a game that blends with real-world locations. |
4 | Again, for those not up to speed with all things Niantic, a lure is a virยญtuยญal item and part of the game. By plaยญcing your lure at a Pokestop, you attract virยญtuยญal creatures for othยญer playยญers to catch. But I assure you that most busiยญnesses can thrive without this speยญcifยญic knowledge. |
5 | Shipp, S. (2004). The brain cirยญcuitry of attenยญtion. Trends in Cognitive Sciences, 8, 223โโโ230. https://โdoiโ.org/โ1โ0โ.โ1โ0โ1โ6โ/โjโ.โtโiโcโsโ.โ2โ0โ0โ4โ.โ0โ3โ.โ004 |
6 | Schweizer, K., Moosbrugger, H., & Goldhammer, F. (2005). The strucยญture of the relaยญtionยญship between attenยญtion and intelยญliยญgence. Intelligence, 33(6), 589โโโ611. https://โdoiโ.org/โ1โ0โ.โ1โ0โ1โ6โ/โjโ.โiโnโtโeโlโlโ.โ2โ0โ0โ5โ.โ0โ7โ.โ001 |