Do you know the FOMO syndrome?

FOMO is the acronym of Fear Of Missing Out, literally the fear of missing something.

FOMO is what explains the addiction to certain social networks like Tik Tok or Instagram.

It is also the FOMO that pushes you to leave your couch to go out on Saturday night 😊 .

What if the FOMO syndrome applied to BtoB business?  Explanations and concrete cases :


Behavioral Economics according to Daniel Kahneman

In the age of full digital and data king, marketing departments are able to track the end-to-end effectiveness of their operations and accurately measure their ROI. And, as a result, to justify their investments.

However, some decisions are still driven by emotions. These thought patterns have been studied by Daniel Kahneman under the name of Behavioral Economics and were awarded the 2002 Nobel Prize. He talks about system 1 and system 2. More details:

System 1 is the system of quick thinking. It is the one that relies on your intuitions and allows you to make decisions quickly. Its main disadvantage is that it leads you into error more often.
System 2 is the analytical system which consists in searching for information and analyzing it with models, matrices… It reduces your margin of error but it is also slower and takes more energy.


Emotions also present in BtoB decision making

FOMO syndrome is part of being human. It is not surprising that it also affects BtoB. Indeed, as soon as the opportunity to do business presents itself, it is difficult to resist. Some decisions are no longer based on tangible facts but are governed by emotions and the fear of missing something.

The example of trade shows

Trade shows are an example of FOMO in BtoB. They are costly, time-consuming, mobilize many company resources and are subject to many uncertainties. From one year to the next, the ROI can be very different. And yet, exhibitors regularly renew their presence…

We don’t say no to the opportunity to meet our market and find new prospects. Especially when the presence of your competitors, a good commercial argument and potential targets among the participants are added.

And if this year, it was better. Hope springs eternal…

Participating in a call for tenders

How do you react to receiving a new call for tenders? Generally, we imagine that we will win it. Obtaining a new reference, a budget and a consequent commission makes you forget the time you will have to spend and the resources you will have to mobilize (sometimes to the detriment of other clients).

What if this year was for us?

However, if you look closely, there are a few clues as to your ability to win. Indeed, it’s been said that the devil is in the details. For example:

  • Have you ever talked to the prospect before receiving the specifications? If the answer is no, it is probably already too late and you are lagging behind your competitors.
  • What are the terms used in the expression of needs by the client? Sometimes the specifications use the words used by your competitors to describe their functionalities. A way to see that the decision is already taken.
  • At what time does your contact answer your emails? How fast does he answer? A contact who answers you at the first hour or very reactive is generally a good omen.
  • What companies have your contacts worked for before? You can also collect precious clues by analyzing the professional background of your contacts. Knowing which companies they have been with can tell you what solutions they have used.

All these elements allow you to avoid acting on emotion and to make the right decision.

Fear is a bad advisor. To limit the impact of FOMO and to limit quick and non-rational decisions, rely on reliable and exhaustive CRM data. It will be invaluable in countering the anxiety of missing out on something.


Partagez l'article à votre réseau