#174: Dr. Kelly Goldsmith—Can Scarcity Make Your Marketing More Generous?

Business Made Simple Podcast

StoryBrand.ai

Marketing, Story, Bmsu, Businessmadesimple, Brand, Business, Bms, Storybrand, Entrepreneurship, 474622, Storytelling

4.8 • 2K Ratings

🗓️ 11 November 2019

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

What will your customers lose if they don’t make a timely decision to buy your product or service? That’s the power of scarcity, and it’s one of the oldest tools in the marketer’s box. But how has this seminal marketing principle evolved now that the way people consume has changed so dramatically?

That’s why we’re excited to welcome Dr. Kelly Goldsmith to the podcast. She’s an award-winning Yale-educated behavioral scientist (and former Survivor contestant) who examines scarcity’s seemingly paradoxical effects. You’ll rethink what scarcity looks like in your marketing after this.

Transcript

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0:00.0	Welcome to the Building of Story Brand Podcast, where we believe if you can fuse, you'll lose,
0:13.2	Noise is the enemy and creating a clear message is the best way to grow your business.
0:16.5	I'm your host Donald Miller.
0:17.7	I'm joined by my co-host, Dr. J. J. J. J.
0:20.6	I'm going to ask you a question and because I know what this interview is about and that you conducted the interview, you are going to have the answer.
0:28.0	Okay. A friend of mine has a friend who started a very successful conference business out of nothing.
0:35.6	Okay. And my friend asked his friend how'd you do it? And he said well we had zero
0:41.5	interest and so what we did was we created a lottery system.
0:45.0	You couldn't just sign up for the conference.
0:47.0	You had to enter into a lottery in which you were invited to sign up for the conference.
0:52.8	Yeah.
0:53.3	And the conference blew up because people didn't think they could get in.
0:57.0	JJ.
0:58.0	Yes.
0:59.0	Today's interview is all about that.
1:01.0	It is.
1:02.0	And our guest, your guest,
1:03.2	because you conducted the interview is going to explain why. What is that called?
1:06.4	Scarcity. Create scarcity. Yes. Today's interview is about scarcity.
1:09.3	It is. I had the opportunity to interview Dr. Kelly Goldsmith and...
1:13.7	She's a Vanderbilt, right?
1:14.7	Yeah, she works there and has a fascinating story background in some reality television that
	...

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