|
The economy in America is in
turmoil and the rest of the world is feeling our pain too. I'm on the
newsletters of many Internet Marketers and they seem to be falling into two
very distinct camps.
Group One
This group appears to be scared
and opportunistic because they are holding firesales and the offerings are
often for outdated or inferior products.
I see these marketers as
profiteers that make their living off resell rights products, private label
rights products and Adsense.
There is nothing wrong with any
of these as part of your business model IF you structured your business
correctly, take the time to build a relationship with your list rather than
seeing them strictly as your personal ATM you created a business plan that
leaves room for economic fluctuations.
Group Two
This group has a sound business
that has room built in to handle an economic downturn. This group is also
taking advantage of it but in a VERY different way.
Instead of low priced sales of
outdated products or ideas, these marketers are creating courses, software and
other offering that will teach people to use time tested and proven direct
response marketing techniques online.
Direct response marketing is the
art of using good copywriting to get the visitor to take a desired action.
Television commercials,
Infomercials and many display ads that have been running in magazines for years
are examples of successful direct response marketing.
My Opinion
Group Two is the group that has
the more established group most of the time. There are a few exceptions BUT the
exceptions that I've seen had mentors that taught them sound business practices
and ethics.
The result is not only survival
during these turbulent times but the delivery of high priced products or
services that are being snapped up by a crowd that's hungry for a solution to
their financial worries.
Some might think this second
group is taking advantage of the situation and they are to a certain extent BUT
the offerings I've seen from them ARE worth the price tag IF the buyer takes
action and uses the products to do what they are designed to do.
It's a sad but true fact that
only a small percentage will use their purchase even when the price is hundreds
or even thousands of dollars.
If you look around hard enough,
you can find real world examples of businesses, including banks that are doing
well right now. Credit Unions and some community banks that stuck with
requiring a 20% down payment for a mortgage have money and are conducting
business as usual.
Your existing or future business
will fall into one of the two groups mentioned above. You'll either plan well
so you are prepared to survive and even profit during troubled times or you'll
be reacting and fearful of the present and future because you failed to build
your business on sound and fundamental business practices.
|
