No, this isn’t an old email that somehow just got queued up.
Multiple clients have reported booming businesses over the past month.
Obviously, this isn’t true for everybody. Many businesses are suffering, especially local businesses which are shut down and consultants who are serving those local businesses.
There are a lot of hurting, out-of-work people out there.
But it’s a mistake to think everyone has stopped buying. If 25% of people are unemployed, then 75% still have a job and income.
The businesses doing well are those selling ecommerce products or at-home courses.
The cost of advertising has decreased in many markets. Competitors have reduced or stopped advertising.
Since networks like Facebook and Google work off an auction format, with less competition, the price goes down.
A couple of clients have even seen comments on their Facebook ads such as, “I don’t have anything else to do, so I might as well learn this.”
They must have been on the fence, and extra time at home moved them to action.
Several businesses have even rolled out much larger campaigns recently.
They were already doing good, but the numbers now are much better because of lower costs.
And here’s the weird thing…
There are people in those same markets who are talking about how nobody is buying.
Why are they seeing such different results?
I have some suspicions.
It’s easy to sabotage yourself.
When you start thinking and talking like no one has money, you’ll start acting like it as well.
You reduce your advertising.
You back off of selling.
You write emails telling your potential customers they can’t afford to buy now. Not those exact words and not consciously, but I’ve seen the tone of that voice coming through on many emails.
And soon it becomes a reality.
Sure, there has been higher volatility. This means one day might not produce any sales and another one is higher sales than usual. The noise from the news cycle appears to be causing this, but it’s the overall numbers we’re looking at.
Recessions are volatile times. The majority lose out while others build wealth.
And it’s quite possible we’re going to end up in a full-blown, long-term depression.
Each of us has to make a decision of how we’re going to react to it.
Negativity is like quicksand. It gets more and more difficult to escape.
Make modifications to your business model. Change your offers. Start selling more upmarket (the more affluent are less affected). Provide more personalized service.
Do whatever you can to grow your business…while others are in decline.
The May issue of the Monthly Mentor Club is called “Recession-Proof Income.”
I was online during the two past recessions plus all the other changes we’ve seen in the past two decades.
I’ve been helping clients in all different markets navigate the previous month…and create plans for the upcoming ones.
Now is not the time to go into a holding pattern.
You have to be proactive.
Discover how you can grow your online business during tougher times…including how we position a Facebook ad in a suffering market, create a very-personalized follow-up sequence for higher ticket clients, and how we’re using empathy to create an even stronger connection with our buyers.
This issue will be sent for print-and-mail on May 1st.