Urgency and Scarcity

From 3.5% to 10% conversion rate by using behavioral economics

Read time:

50 sec

We are more afraid of loss than we are attracted to gain.

The fear can make us act on impulses we’d normally ignore.

Scarcity tells us that the value of something is higher, just because it’s scarce.

Urgency tells us, if we don't act now, we might lose big time.

Let's see how it can be implemented with a real example:

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<span style="color: #e74c3c;">Before</span>

Conversion rate: 3.5%

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<span style="color: #2ecc71;">After</span> (almost <span style="color: #2ecc71;">300% increase</span> in conversions)

Conversion rate: ~10%

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Price remained unchanged, but the conversions 3x just by adding a little urgency.

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How to implement

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Shorten the buy window
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Add countdown timer
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Show and highlight the sell-out risk

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Your next step

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