Stefan Georgi and panelists discuss how to create scarcity without fake deadlines. They suggest signaling future price increases, removing bonuses, or hinting at limited inventory and restock delays. The key: stay honest. Don't fabricate scarcity or you'll lose credibility.
Cool question from the Facebook chat. I'm actually really excited to hear what you all have to say about this. So any tips on how to create scarcity without a timer or a deadline?
Yeah, well, it depends on the type of product, I guess. Are we talking physical or info? I wonder. But I think it was all kinds of things. Like, I mean, it's not to be a deadline, but you can just sort of be ambiguous about it. You can be like, you know, I might just change my mind. Like, I might, you know, my clients might get like, maybe mad at me. And so I decided I'm going to take it down. I might just decide I want to raise the price because I think this is super valuable, you know, I mean, I think that's fair to do. And, you know, as long as there's some kind of intention. Like with RNBC applied, I did that a little bit at the end, but I raised the price from 97 to 197amonth. So. Which I. Cause I just was like, everyone's like, oh, this is too cheap. And I was like, okay, I'll raise the price. You know what I mean? But I didn't set out to do it, but I knew I might. Um, and then for physical products, you know, same thing. I mean, it could be like, look, I can't guarantee, you know, that inventory is going to be in stock. Like out of stocks do happen. You know, you don't have to say, like, we only have 200, like bottles or units left, but you can still be like, out of stocks will happen. And if it happens, it could take like a month or two before I get more. You know, I think you can sort of do all that stuff without being at all dishonest. As somebody who sold a lot of physical products, like, out of stocks do happen, it's a huge pain in the ass. And it can take months before you get more back, especially if something takes off. So, yeah, I think that, you know, I think just sort of being a little bit ambiguous with it, but being like it's a possibility, just sell, like, you know, why risk it? If it's a possibility at all, why risk up that possibility?
Yeah, Matteo, here was. Here's what I would say. I completely agree with Stefan, but your words, your bond, so you better stick to that. If you try to create false scarcity, people can smell that BS from a mile away. And I think the more transparent you are about your supply chain management, like, if you show, here's what we have in stock, here's how long it takes for us to. I've done this before, and it freaking works like a charm. Like, I remember our conversion rate went up like a percent or a percent and a half when we were so transparent. Like, here's where it's made, here's where it's manufactured and showed every single one of those steps. And it was like, I'm not BSing, like, here's. I just want to be as completely transparent as possible. And it just. It really resonates with people because no one does that.
Yeah. I love that stuff Matteo says for an info product. But even then, yeah, I think you could do. You could do some bonuses that you're going to remove. But again, it could just be as simple as, like, look, I don't know, am I going to. Again, I love doing my copy. I'm like, am I going to sell this forever? Maybe? Like, is the price to stay the same forever?
Maybe.
But I also might not. I really don't know. Nobody predicts the future. And so why, you know, wait, why put this off when you take action today and you're getting it such a great value and everything that's in it and all that kind of stuff?
Yep.
That's awesome.
I agree.
Anytime you can play with the packages, like, if you're offering some sort of package bundle or something like that, you can always say, this particular bundle might not be available. Right. But you might end up rolling it out the next day with two less things in the offer. So it's, you know, that's how you imply that it's not going to be available as it is, you know, in the future.
Yeah, 100%.
And Marcus in the chat mentioned expiring bonuses so that if the product itself doesn't have an expiration, then you can invent one more or less.
Right.
And Justin doesn't know if he'll be able to deliver his newsletter to you. All this Covid and all this nonsense. It's been such a fair.
Even. That's fair, right? Cause, I mean, like, he had issues with shipping and, like, the USPS getting backed up. And so, you know, again, you do all that about being B.S. for sure. Yeah. Cool.
What's that?
What's the next question? Next question.
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