Professional paper
https://doi.org/10.56321/IJMBS.10.16.41
FOMO MARKETING: A SUCCESSFUL SOCIAL MEDIA STRATEGY?
Matea Matić Šošić
; University of Dubrovnik, Department of Economics and Business Economics, Dubrovnik, Croatia
Abstract
As a result of the uncontrolled increase in information and the overload of digital updates, the fear of missing out arises, popularly known as FOMO. FOMO is particularly relevant in the field of marketing and has been successfully used in advertising messages to boost sales and encourage impulsive buying behavior from users. FOMO is a powerful tool to drive engagement and conversion in the digital environment. However, the aforementioned concept can also have negative impact on business and user perception if not managed responsibly. Exploiting FOMO techniques can lead to consumer distrust and negative brand perception, which in turn negatively impacts business in the digital environment. Although FOMO sometimes has a negative impact, the use of FOMO techniques can encourage users to make new purchases, which has a positive effect, for example in the form of increased sales for the company. This paper provides a detailed insight into the comprehensive analysis of FOMO marketing on social networks and the negative effects of FOMO techniques on user engagement and consumption that can develop through excessive engagement on social networking platforms.
Keywords
digital environment; social media; FOMO marketing; consumer behavior
Hrčak ID:
323481
URI
Publication date:
10.12.2024.
Visits: 0 *