How to sell more info-products in a recession
In online marketing, one principle trumps all others:
You must enter the conversation that’s already happening in your prospects’ minds.
In 2020/2021, stocks were soaring, crypto was climbing, and everybody was dreaming about how rich they’d get.
These days, with markets down and a recession looming, people are worried about protecting their income and job security.
If you’re still trying to sell info-products without acknowledging these worries, you’ve surely seen a slowdown in sales.
The conversation in your prospects’ minds has changed. Your messaging must change with it.
It took me a long time to learn this, but once I did, I made a lot more money:
Most people make buying decisions with their emotions.
Then they use logic to justify their decisions.
The two main buying emotions are:
- Fear – the risk of losing something, missing out
- Greed – become more successful, make more money
The word greed might sound negative. But in this context, it’s positive. I’ll define it as the burning desire to improve your life.
Fear and greed drive sales for almost all info-products.
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How to incorporate greed vs. fear into your messaging
Let’s assume you’re selling an online course.
You don’t want to redo your entire course just because the economy shifted and people’s priorities changed.
Instead, you should change your sales & marketing approach by acknowledging what’s on peoples’ minds.
Imagine you’re selling a Twitter course on how to grow and monetize your following.
In the greed years of 2020/2021, you might say: The time is now: Grow and monetize your following to build new income streams
In the fear years of 2022/2023: No job is safe. Grow and monetize a Twitter following to protect your household income
The contents of the course would remain the same, but your message to the market has evolved.
When greed is dominant:
- Agitate their dreams
- Ask them to imagine what life could be like with something they want – like a new stream of income
- Share other people’s successes and make them feel attainable
- Talk about making money, businesses thriving, financial independence
When fear is dominant:
- Agitate their worries (the ones to which you have a solution)
- Ask them to imagine what life could be like if they lose something they have – like money or a stable stream of income.
- Talk about job losses, unemployment rising, and gaining independence from your overbearing boss.
Like it or not, we’re probably headed into a recession. It’ll be tough for the average person. But that doesn’t have to be you.
Many businesses thrive in recessions. Figure out how to be one of them!
Until next time,
– Dan Steinhart, CPA
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