Neither rain, sleet nor blazing heat could keep the most dedicated sneakerheads from getting their hands on the newest shoes. It’s a modern love story between one successful industry and their customers, and it’s all thanks to marketing psychology.
Humans are known for wanting what they can’t have. When something is low in supply, its scarcity leads people to believe that it must be an item worth having, and the perceived value of it increases. Brands use this thinking to promote urgency around their products, but scarcity can also be used to drive more mobile app downloads and engagement.
When it comes to your consumers, there’s no end to the things you want to know. What do consumers find valuable? How do consumers make decisions? What causes consumers to love a brand? But the underlying question remains: What makes consumers buy a product?
If you were to ask most business owners what they hoped would happen with their brand when they first started out, you’d probably hear a few things: that it would turn into a household name and that customers would like the product enough to tell their friends.
