In the world of SaaS marketing, creating demand and virality is a top priority for startups. To achieve this, companies often use a variety of marketing strategies, including email marketing, social media, content marketing, and paid advertising. However, one of the most effective tactics for creating demand and virality is leveraging the power of FOMO (Fear Of Missing Out).
FOMO is a psychological phenomenon that drives people to take action because they fear missing out on something important or valuable. By creating a sense of scarcity and exclusivity, companies can tap into this powerful emotion to motivate potential customers to sign up for their product or service.
|Limited access||An invite-only sign-up system|
|Scarcity||"Only 3 spots left at this price"|
|Social proof||"Over 1 million happy customers"|
|Exclusivity||"For members only"|
|Urgency||"Limited time offer"|
Using Invite Only Sign-Ups to Create Demand
One of the most effective ways to leverage FOMO in SaaS marketing is by using invite-only sign-ups. This tactic restricts access to a product or service to a select group of people who have been invited by existing users. By doing so, companies create a sense of exclusivity and scarcity, which in turn triggers the FOMO feeling in potential customers.
|Exclusivity||Creates a sense of exclusivity and scarcity around the product or service, which can drive demand and virality.|
|Controlled growth||Allows companies to control the rate of growth and manage resources more effectively.|
|High-quality users||Users who are willing to go through the effort of getting an invite are often more engaged and valuable than users who simply sign up on their own.|
|Referral marketing||Encourages users to invite their network, which can drive viral growth and reduce customer acquisition costs.|
|Testing and optimization||Provides an opportunity to test and optimize referral systems and other marketing strategies.|
This strategy has been used successfully by several SaaS companies, including:
- Pinterest: Pinterest initially launched in 2010 as an invite-only beta version, with a waiting list of over 9,000 users. The company created a sense of exclusivity and scarcity, which helped to drive demand for the product. As a result, Pinterest grew to more than 250 million users within a few years.
- Figma: Figma is a collaborative design tool that launched in 2015 as an invite-only product. The company used a referral system that rewarded existing users with additional invites when they invited new users to join. This created a sense of exclusivity and helped to drive demand for the product.
- Tidal: Tidal is a music streaming service that launched with an invite-only system. Users who received an invite were given a free trial of the premium version of the service. This created a sense of exclusivity and helped to drive demand for the service.
Capitalizing on FOMO to Create Virality
|Dropbox||Cloud storage||Referring friends for extra storage space|
|Robinhood||Commission-free trading app||Inviting friends for a free stock|
|Clubhouse||Social audio app||Inviting friends to join and participate in conversations|
|Superhuman||Email client||Referring friends for early access to the product|
|Gmail||Email service||Inviting friends to join and receive a Gmail account|
In addition to creating demand, leveraging FOMO can also help to create virality for a product or service. Virality occurs when users share a product or service with their network, resulting in a viral loop of new users joining the product or service.
Using invite-only sign-ups can be an effective way to create virality because it encourages existing users to invite their network to join the product or service. When users see that their friends or colleagues are using a product or service, they are more likely to sign up themselves.
In the highly competitive world of SaaS marketing, creating demand and virality is crucial for the success of a product or service. Leveraging the power of FOMO through invite-only sign-ups is a highly effective tactic that can help companies to achieve these goals.
By creating a sense of exclusivity and scarcity, companies can trigger the FOMO feeling in potential customers, which motivates them to sign up for the product or service. Moreover, leveraging FOMO can help to create virality, as existing users invite their network to join the product or service.