Nowadays, YouTube influencers are making their way towards entrepreneurship, such as past boxers Logan Paul and KSI (Olajide Olatunji). They have proved their business acumen by establishing their brand, PRIME. Not only did they use their popularity but they also used scarcity marketing to boost the sales of their product and to create a buzz.
What is scarcity marketing?
It is a psychological trick played on the users to win over their FOMO (fear of missing out). In this marketing, brands increase product demand by issuing limited editions to promote a sense of urgency.
Limited edition drops
Limited edition drops are a fundamental element of KSI and Logan Paul's scarcity marketing strategy for PRIME. Rather than stocking products all the time, they occasionally create limited-edition unique collections. This strategy encourages customers to act swiftly in order to secure a piece of the PRIME brand, in addition to making the products more appealing.
Strategic timing is the key
Timing is very important in scarcity marketing, and Logan Paul and KSI are very well aware of it. They create a buzz of excitement by coordinating important launches and collaborations among their fan followers.
Interactive marketing campaigns of PRIME
Challenges, competitions, and exclusive events linked to product releases are common ways that KSI and Logan Paul involve their audience and add an interactive element to scarcity marketing. This builds a community behind PRIME and enhances the feeling of exclusivity while also motivating fans to engage with the brand.
Elevating brand loyalty
The goal of scarcity marketing is to develop a devoted following rather than only sell goods. The calculated use of limited edition releases by KSI and Logan Paul has improved sales as well as brand loyalty. Possessing unique PRIME stuff gives fans a feeling of pride and community that transcends beyond the items themselves.
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