Creating a sense of urgency is one of the oldest and most powerful marketing strategies. It’s as simple as “Get it now before it’s gone.”
Online B2B auctions, which are fundamentally based on the urgency principle, are a perfect illustration of the role of urgency in B2B transactions.
In this paper, we discuss how creating a sense of urgency is a fundamental tool of auctions and other online B2B marketplaces. We also:
- Expore the psychology of urgency, and why it’s important
- Reveal the factors that play a role in creating urgency in a marketplace
- Cover urgency tactics that don't work and the risks associated with using them