I recently discovered a mobile app called Libby.
If you don’t know, it’s basically a digital library where you can borrow ebooks and audiobooks.
Just like a real library, you need a library card.
And despite the fact that these are ebooks and audiobooks, there are also limited copies available to borrow.
So they’re really trying to make it like a real library.
For example, I just placed my hold to borrow Frank Herbert’s Dune. After watching the movie, it made me want to read the book series.
And do you know how long I have to wait ‘til I can borrow it?
11 weeks. That’s almost three whole months.
At first, you’d think this is a dumb concept because they’re loaning ebooks and audiobooks. Why not just produce unlimited copies and let people borrow them instantaneously?
Well…
1. Because the app is designed to be a digital library, having unlimited copies available would just defeat the purpose of it.
2. There are advantages to making people wait. It builds anticipation, plus some users said being forced to wait has prevented them from being overwhelmed by the amount of choices.
So this is one of those rare examples of pulling off scarcity with digital products.
Would I recommend trying it for your own business?
I say, if you really want to, go for it.
Applying scarcity is always a great way to drive sales, and there are many ways to make it work with digital products.
Then all you need to do is use good ol’ email marketing to sell.
To learn about that, click the link below.