We have all experienced the excitement of narrowly grabbing a seat at a quickly sold-out event or finding a rare antique. Smart hotel marketers and sales people know this as using the scarcity principle, which motivates customers to make a purchase by letting them know there is a looming deadline or a limited supply.
The premise is to make planners act fast by creating a sense of urgency and inciting a ”fear of missing ou” (FOMO in millennial speak). An example of this is to embed urgency reminders (ie: “limited space remains”) on the venue availability calendar on your hotel website or booking engine. Or, offer an irresistible incentive to any planner that books their meeting within a specific period of time, capped by a stringent deadline.