A Note From Jim
Make What You Sell A Necessity… NOT An Optional Luxury
What’s going on in the world right now that we can compare to the 1970s?
Inflation and interest rates are going up. People’s credit and ability to borrow money is going down. It’s here, but it doesn’t hurt bad enough – YET.
I got a C in economics in college (hey, C’s get degrees Mom!). But I did learn.
I learned about leading indicators vs lagging indicators.
A leading indicator means the world is telling you “Here’s your sign!” It’s like you are walking (or running) down the roadway. Everything’s great. You then see a sign that says, “There’s something bad up ahead – be careful.” But you are thinking. “I don’t see it, so there’s nothing to worry about.” You keep running and bam, you fall into the hole.
We have a whole lot of leading indicators coming at us right now. What’s in the news a lot right now?
The price of gas.
Why is that important?
It means food is going to get real expensive, which means your ability to buy stuff is getting squished because you’re spending what was previously your “extra” money on gas and food.
Electricity is going to go up too. What does this mean?
Everyone’s ability to spend is going down as we speak.
Do you think this might affect your customers? Hint…. YES!
The people who spend money to keep this wonderful thing we have called a “consumer-based economy” flowing are feeling the pinch.
A consumer-based economy means the economy moves on people buying stuff from each other, as opposed to moving capital around like they used to do when we were all farmers.
This is an issue because guess what? If you and others are low on money, what does everybody spend money on?
It starts with an N and ends with an S. What does everybody keep spending money on? No matter what.
Necessities.
People spend money on necessities.
What is a necessity?
- Toilet paper
- Electricity
- Water
- Beer (I don’t even drink beer. But I know it’s a necessity because my wife does)
- Food
- Housing
- Fun
- People are still going to have fun. They find creative ways to have fun, but they want to have fun. PT Barnum said “People will spend their last nickel to have a good time.” That’s back when a nickel was the equivalent of like five bucks.
- Clothing
- Vehicles
- Gas
- Internet
- Batteries
- Make more money
The point that I want to get across is that everybody has ideas on what rates as a “necessity.”
Bottom line: A necessity is anything your target audience defines as a necessity.
Whatever you’re selling, whatever you’re doing, must be a necessity for your target audience compared to anything else they could spend their money on. Because if it’s not, and they’re making a choice between gas, food, Netflix, the internet, or your product, you might be out of the running.
When we had the economic downturn in 2008 & 2009, we actually did not have that much of a drop in our membership, The Net Reporter. Why? Because I made sure that what we were selling was a necessity for people to get, and remain, successful in their business. I made that membership a necessity.
How did I do that? By tying what I taught to their ability to get all this other stuff they wanted in their life and business:
- Make more money.
- Save money.
- Avoid effort.
- Escape the pain of failure.
You must do whatever it takes to move from the level of convenience to necessity for people.
You do that through better messaging, through perhaps making some changes in your product, upping your game, having a better offer than your competitors, being a category king or queen… whatever it takes!
Now is the time to start positioning yourself in the necessity.
Now’s the time, not six months from now, when somebody’s credit card balance is jacked.
Now is the time, not when they’re making a decision between staying with you or with somebody else; buying your book or buying somebody else’s book.
Remember: Nobody gets paid when your potential customer says “I almost bought your course.”
The best way to become a necessity in the lives of your ideal customers is to create massive value they can’t live without. Become a fixture in their lives with incredibly valuable content they depend on to get the results they want.
Head on over to https://contentmarketingscripts.com. I will train you how to create amazing content, in less than 10 minutes, that makes you a necessity they’ll never let go!
Featured Article
So what about the old axiom that you need to “Give away all your BEST Information” for free because they say, “Well if they give away this much value, what else do they have? and I’ll be a paying customer for that!” Real or BS?
I got this question the other day, and it really made me think. I’m sure you’ve heard sayings like:
“Move the free line.”
“Always lead with your best stuff.”
“You get what you give.”
… and more.
See why my position has changed on this topic
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Are You Strategic with your Consistent Content? – SCCMH [Podcast 160]
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Case Studies and Testimonials for Your Business – SCCMH [Podcast 158]
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