This will be my 6th recession since I’ve been in
the direct response business.
Here are five things I’ve learned from previous
recessions, and how you can profit from them:
1. Most of your competitors will operate out of fear
(the strongest emotion) and cut spending on marketing,
If you stay strong and keep these up, you can take your
competitors mindshare, market share, customers, best
employees and profits.
2. Be on the lookout to buy quality businesses and other
income producing assets on the cheap.
3. Don’t listen to the negative media.
4. You may have to add more copy to justify reasons why
spending money to buy your product is worth it. I call this
Talk more about how your product will save the buyer
money and make the buyer money – even for non
financial offers. People need more financial justification
to spend money in a recession.
5. If you don’t have a low ticket offer, test one because you
may need a lower priced front-end offer during the recession.
(Then ascend your customers to higher priced products once
they know and trust you)
My recession predictions for real estate, business, copywriting, crypto, and stock market:
Home prices will hold up pretty well in the boom areas
of the south where people are flocking to. Prices may dip by
10-15% but then will quickly recover. On the other hand,
I see big price declines ahead for home prices in states that
are high tax and/ or in cold weather.
The overall market is down 20% now with many stocks down
60% or more. Now is actually a very good time to buy good
value, high quality stocks if you are going to hold them for
three years or more.
There are smart people on both sides of the crypto debate.
I’ve never had a strong opinion, which is why I only put 5%
of my portfolio in crypto. I still do not have a strong opinion
either way. My theory is not to invest in something you don’t
understand completely, and 99%+ of people don’t understand
Normal recession changes, meaning business will slow down
for most. Very niche specific though. Business opportunity, save money and health will do well. Most investing, dating and high-end coaching will suffer. More price justification and lower priced
front end offers should be tested now.
This will become more of a 95/5 market, with 95% of
copywriters seeing a downturn and the top 5% of
copywriters doing better, the same as in past recessions.
In a recession, business owners want more surety.