Using the FOMO Effect in Marketing and Audience Attitudes Towards It

Annotation Study Purpose The purpose of my work is to investigate the reaction of the audience to ads that contain FOMO. Tasks 1. Description of advertising offers for quantitative psychological research: each of them will contain one or several elements of FoMo marketing, which should evoke a response from respondents in a simulated situation. 2. Creation of a questionnaire for a qualitative assessment of the seen test tests; 3. Conducting quantitative research with respondents using the Likert scale; 4. Data collection and analysis; 5. Conclusions. Results of the study As a result of the study, it was possible to identify trends in the behavior of people in the situation of collision with FOMO in advertising. Initially, FOMO appeared as a product of social networks and became a key accompanying feeling for those who were afraid to miss any opportunity to get involved in social communication and get as many new experiences as possible. Studies have shown that the correlation of anxiety directly depends on the frequency of using social networks and observing the lives of others. This same sense of missed opportunities and elusive benefits has been used by marketers to encourage audiences to engage in more active buying behavior through limited time, product volume, or special phrases that favorably promoted the purchase. The study showed that the audience is slightly susceptible to manipulation by marketers who use the FOMO syndrome as the core around which advertising is formed. However, some of the tools elicit a more significant response and range emotionally from interest to surprise and fear. The decisive factor in accordance with the responses of the respondents in the majority were reviews from friends, acquaintances, as well as visual recommendations from other users who have already tested the product or service. Another determining factor was the exclusivity of the products. The respondents reacted positively to the new product line and their level of interest increased if the new product was presented in a limited edition. The most effective tool was a countdown timer and a clock that site visitors could see right on the first page of the ad. Lack of time, calls to buy, an imaginary sense of prospective benefits more likely pushed the respondents to a spontaneous decision to buy. The competition did not significantly motivate people to make a hasty purchase, but the degree of interest increased when, while viewing the product page, an inscription was displayed that several more people were on the page at the same time and were planning to place an order. The accompanying emotion was often irritation, which bordered on either excitement or fear of missing out on a successful advertising offer. People felt pressure from the seller and would prefer to receive offers on their preliminary request and advertising of those products that are in demand in their lives. Some respondents noted that they are willing to overpay and not feel excessive anxiety or fear of missing out on a profitable purchase. The vast majority of respondents noted that they are clearly aware that the seller in such cases uses his entire arsenal of manipulations and often offers a spontaneous purchase decision instead of a more detailed description and characteristics, because this product is sold for the last hour or its quantity is limited in stock. At first, such advertising methods surprised people, but today it is already a familiar way of advertising an offer that affects the audience, but not with the force that the seller expects. Recommendations My supervisor appreciated my work and advised me to structure it more clearly. In addition, he recommended to build graphs that will display the average value of the respondents ' reactions and compare them with the behavioral reactions of the respondents.