The Secret to Jump Starting Your Revenues in an Economic Recession

I won't waste your time. The big secret to jump starting your small business revenues is using scarcity and urgency in your communications with your customers. What do I mean by scarcity and urgency? Well read my real life example for clarification of this matter.

Grapefruit are Free for the Picking
I used to live in Florida and we had lots of grapefruit trees. They were everywhere. You could pick grapefruits in the park and in just about every backyard. But you know what- no one picked the fruit. You couldn't hardly give it away. It was not scarce and would come back every year. No scarcity or urgency.

I rarely ate a grapefruit in Florida. But since I moved to Atlanta I not only eat grapefruit I buy it for the going retail price. Why? In Florida I could eat them at anytime for nothing. In Atlanta they only sell them for a short period of time which provides urgency and you can only buy so many during that given time period so they are scarce. So I had to purchase them right away or I might miss my chance.

Scarcity and Urgency
Your business products are the same if you don't create urgency and scarcity. People put off that purchase because they can purchase it at anytime. After all it will be there Friday why buy it today. That's the thinking that your customers do when making a purchase, but what if you put in your ad or email copy that the particular item is limited and the price is only good until Wednesday then it goes back up again. This would create urgency by increasing the price on Wednesday and scarcity is created by referring to the limited supply..

Make Your Product Scarce and Urgent if You Can
So how can anything be scarce or urgent? Truth is everything can't, but if you can make something both scarce and urgent do so.

In In In my wife's small business most of her food items stay fresh for 7-10 days. She wanted to sell banana pudding (my personal favorite desert), but the issue is that real banana pudding is only good in the refrigerator for two possibly three days then it gets watery and brown. So she includes in her menu that its only made on Thursdays and she only makes it once so when its gone its gone. Guess what its gone by Friday every week because she has created scarcity and urgency.

Its human nature to put off something till tomorrow rather then complicating your already busy day. But like buying grapefruits in Atlanta they may not be there.