“The Fear Of Missing Out” more commonly known as FOMO is a common fear shared among people, marketers, and entrepreneurs alike about missing out on opportunities that are trendy and worth following right away. In order to develop an effective marketing strategy, it is important that you, as a business, focus on your objectives based on who you are trying to target and not get distracted by the possibility of missing out on capturing everyone's attention – your marketing strategy will not be successful if you do!
FOMO In Digital Marketing
FOMO has made its way into the marketing world thanks to ever-developing and ever-evolving marketing methods. The latest technological developments and most notably the rise of social media marketing methods have played an important role in allowing marketers to fall for FOMO marketing. Have you been told lately that in order to be successful your business needs to be on Instagram, TikTok, or Snapchat? The truth is that you don't need to be! In order to be successful as a business, you only need to focus on where your customers are and optimize your presence and message there.
The following analogy is helpful in understanding this: The main age and gender demographic of Instagram are girls and women between the ages of 15-29. Suppose a farm equipment supplier wants to find a consumer base. This business is less likely to find its audience on Instagram, as opposed to a hairdresser or artist. A farm equipment supplier is more likely to be successful when running google ads for people searching for equipment.
Find Your Focus And Develop Your Strategy
As digital marketers, it is essential to give life to the brand and deliver results without compromising engagement and providing actual impact. Your marketing strategy should not be focused on pleasing everyone and should instead be focused on your audience- it is crucial to know where to find your audience and optimize your strategy for it.
In an era of increased market competition and changing customer expectations, it is more important than ever for businesses to have a keen customer focus. Learning to focus is one of the key parts of entrepreneurial success! If you are a business that fails to define a market and tries to please everyone you will most likely end up pleasing no one and end up failing. A good marketing strategy will leverage data and research to build the backbone of why you need to move in a specific direction.
Prepare Yourself in Advance
It is important to remember that pursuing every new trend because you do not want to miss out isn't the best way to run your business. FOMO occurs when companies don't foresee the future or what trends are going to dominate their relevant industries. If you are a business that has the capability to see into the future, you will most likely be successful at keeping FOMO at bay and won't let it distract your marketing strategy. Just like any other aspect of business, you need to experiment with your marketing methods and guide campaigns to ensure constant growth.
Our experienced team at CAYK Marketing will help you reach your business goals and offer data-driven proof of the success of your company's marketing. Contact us today to learn more about the marketing plan that will boost your business performance and set your company up for long-term success!