Google+ & Nate’s Law of Scarcity
(Picture courtesy Google Inc.)
Ok, it’s not a real law. I really just made the term up, but I’m convinced that it exists. I’m reffering to the trend I’ve been noticing for the past few years that’s popping up in everything from iPhones to Social Media sites. This strange trend seems to make people crazy and will drive them to great lengths to buy products and to jump on a bandwagon. It seems to me that the best companies in the world are using this rule, so I ask “Why aren’t we?”
Nate’s Law of Scarcity
Nate’s Law of Scarcity unofficially refers to the phenomenon that drives people to want things that they can’t have even if they don’t necessarily need or even want them. It’s like a Jedi mind trick that companies like Apple and Google are using on all of us. Specifically, these companies are offering products and services in a much smaller quantity than would commonly make sense. If they think they could sell 100K of something, it seems they’ll offer 60K and run out quickly. Let me give you a good example.
The iPhone Scarcity Case Study
Do you remember when the original iPhone came out? I remember that day so well. I’ll admit (sadly) that I was one of the thousands of folks who decided that it would be a good time to line up in front of the Apple store in 103 degree heat to be first to buy and iPhone. Anyone who was anyone was there, and we were all terrified that they were going to run out of phones. I was 36th in line at the Albuquerque store and after sweating in the sun for a few hours, the doors opened. We spilled into the store while all of the local new stations reported.. it was nerd heaven. Later that night, I went to dinner near the store and popped back into the Apple store to confirm my suspicions that it was all worth it to wait in the sun. Much to my chagrin, there were still HUNDREDS of iPhones for sale. Fail! I lost half my body weight in sweat for nothing.
Fast forward to every Apple launch since that time. The iPhone 3G, the iPhone3GS, the iPad, the iPad2… all sold out before lunch. Your chances of landing one of these devices are pretty small, and compared to any other technology company in the world, Apple’s model is awesome.
Apple gets so much attention because there are never enough of their devices on launch day. For months, there’s never enough devices..
Why do they do that? You guessed it! They want you to want it. A product sells itself when people are fighting to get it, right?
Google Buzz, Google+ and Why Beta is Cool
So, how excatly to do you create the same effect when you’re promoting a product that is completely free? Google+ is a free service which costs millions to develop, yet there’s still a demand for it. Why, you ask?
Because, my fellow consumer, there was limited space. When Google+ was first released, they made sure to offer it by invitation only. Now, you might contend that was for purposes of beta testing, and you might be right, but I would say it’s a better bet that Google learned its lesson from GoogleBuzz. Specifically, that they needed to create a little buzz around their next social media service.
So, the next time you’re releasing something, be it a recipe or a business, create some buzz by only giving a taste to a few folks. If you do this, more will come.
