This group appears to be scared and opportunistic because they are holding firesales and the offerings are often for outdated or inferior products.
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.
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Instead of low priced sales of outdated products or ideas, these marketers are creating courses, software and other offering that will teach people to use time tested and proven direct response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.
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.
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