FOMO or LOMO: Which is Worse?
Do you suffer from FOMO?
Let’s back up a bit, do you know what FOMO is? Some research indicates this is a term coined around 1996 and relates to the online phenomenon that anxiety is caused by the idea that others are enjoying fulfilling experiences without you. Therefore, you feel the need to somehow be connected to everyone’s experiences or you fear you will be missing out. “FOMO,” the Fear Of Missing Out.
While this term is not new, FOMO usage became more popular with the meteoric rise of social media. People who experience FOMO are active on social media, and are constantly bombarded by photographs, posts and status updates of friends who are out actively doing something and having some type of experience.
The cure? Get offline and go create your own experience, duh.
Today I want to introduce you to a new phenomenon that is related to this condition, but can be easily corrected, and prove more beneficial for your marketing efforts:
What about LOMO?
In business terms, LOMO is defined as “the Lack Of Mailing Out.” Yes, it’s a real thing. According to the USPS, mail volume has declined by 29.85% since 2006. But just because volume is down, that doesn’t necessarily mean that marketing mail is in decline.
The digital world has reduced quite a bit of the activity in your mail box, but this actually represents a marketing opportunity. With fewer pieces arriving to consumers and businesses daily, this means that your marketing piece has a greater chance of being seen.
And when considering direct mail, it’s critical to note that mail response rates are on the rise. This knowledge is the first step in overcoming LOMO. Repeat after me – direct mail response rates are on the rise.
And remember this, unlike our digital options, direct mail is:
- Tangible – physically holding something makes us feel like it’s ours. And it’s harder to send something we value to the trash.
- Engaging and Memorable
But as part of the LOMO cure, I am not suggesting that you go it alone. Direct mail and digital marketing are a winning combination. Print works well with digital. There is a 28% better conversion rate when direct mail and digital ads are used together.
FOMO may be unavoidable, but the simple solution is to take a few steps away from other’s experiences and enjoy your own.
If you suffer from LOMO, we can help. This could be an even worse condition. Lower sales, sluggish response rates and overall less engagement are side effects of LOMO.