Newsmart Word of the Week — FOMO
Newsmart Word of the Week: FOMO
’FOMO’ stands for ‘Fear Of Missing Out’. It’s an anxiety that both people and businesses suffer from.
FOMO is often used by businesses to keep people engaged. Social media companies, such as Facebook and Snapchat, promote FOMO amongst their users. They want users to feel anxious about missing something important in order to keep them coming back to their products.
Businesses can fall victim to FOMO too. Strategists are always looking for ways to stay ahead and sometimes they adopt new ideas simply because they believe ’it’s the next big thing.’ Right now, the things companies have FOMO about include Artificial Intelligence, Virtual Reality and Bitcoin.
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Originally published at www.getnewsmart.com.
