The idea of leveraging data to tailor customer experiences is not a new one, but in the wake of recent high-profile data usage scandals, it is certainly understandable that both consumers and businesses are wary of the practice. However, though four out of five consumers are concerned about data privacy, recent studies have found that the majority of consumers are willing to share personal data in order to be provided with marketing communications more uniquely suited to them. In fact, 72% of consumers will only engage with personalized marketing messages!
Scarcity is a powerful driver in purchasing behavior. Consumers tend to place additional value on items they believe are in limited supply or difficult to acquire, making them more inclined to purchase. If you’re not leveraging the principle of scarcity to sell tickets and promote events at your venue, you are missing out on a great opportunity! (See what we did there?). Read on to discover new ideas for using scarcity in your marketing promotions so you can sell more tickets, increase revenue and reach new audiences.