When I was growing up, I used to collect all of the McDonald’s Monopoly stickers, but secretly hoped to find the two Blue Properties – Boardwalk and Park Place. Cha-ching!
Alas, I have never managed to match those pieces despite my greatest efforts. Otherwise, I wouldn’t be blogging and instead enjoying my millions in Anguilla.
What makes this Monopoly game so exciting is that it’s only available once a year!
Limited Time Offers
Another revered item that’s also available for a short period is the coveted McDonald’s McRib. Mmm that fake looking barbecue rib sandwich that gets people all excited…
In fact, they’re SO SUCCESSFUL that…
…McDonald’s (MCD) ended a banner year in which it outperformed its competitors. Revenue climbed 4% to $6.21 billion.
In its fourth quarter, sales at U.S. stores open at least 13 months increased 4.4% as … customers participated in its perennially popular Monopoly promotion. Worldwide, the figure rose 5% on strength in Asia.
– USA Today 1/24/2011
These campaigns have one thing in common – scarcity. There is a limited time for each and there are limited Monopoly stickers for the game. Go get them while they’re still around!
Scarcity calls for urgency, which makes people act…now.
Getting Clients to Act…Now.
So, we understand the powerful strategy of scarcity, how can we apply it? In fact, scarcity is just another form of barriers to entry.
- Limited number of events (photographed, hosted, etc.) per year, so that you can dedicate ample attention to each client
- Only available to meet clients at a location of your convenience and at x, y, or z times
- Online galleries are only available for 60 days after event
- And so forth…
If McDonald’s could do it to make a bajillion dollars, so could you. Looking at their competitors, if there is no scarcity in time (like a burger that is available 24/7/365), then there is no urgency to buy it now because you could technically get it anytime…like a Big Mac.
Contradictorily, the less you’re available, the more desirable you become. Sounds a bit like the twilight zone…
What I want you to do next…
If you’ve enjoyed this article or simply love the fake rib sandwich, I encourage you to…
- share with your friends with Retweet or Facebook buttons below
- comment other companies that also exercise scarcity
P.S. Sorry for the delayed blogging ritual. I was deathly ill the past weeks and it threw my whole schedule off. I’m back! Hope you didn’t miss me too much 😉
P.P.S. Whenever McDonald’s runs the Monopoly game, I am lucky enough to always win free fries. Score!
P.P.P.S. Some kind words by Gino –
Love the ebook, my booking fees took a big jump after implementing the concepts, how cool is that!
Some kind words by Preston Utley –
I learned so much from your book and have my pricing better than I ever have before, I have more confidence in the packages and in what I charge. Thank you so much!