We’re officially in a recession, but we’ve known that for a while, haven’t we? The economy has been floundering for months now and is showing no signs of an upturn. In fact, it seems to be crawling further into the doldrums.

While retailers slash prices just to get a sale and car dealers wait every day for someone, anyone, to darken their doors, Internet marketers continue to look for innovative and creative ways to keep selling and make money online.

But even Internet marketing isn’t completely immune to the ravages of a lousy economy. Marketers have to be on top of their game and make adjustments to keep the flow of cash from slowing to a trickle or simply drying up.

The savvy online marketer won’t wait until the going gets tough; he or she will be searching for ways and niches to bolster business right now. So, in this economy, what still sells, and what motivates a buyer to cough up a hard-earned dollar?

One thing that will always sell in a good or bad economy is hope. Hope to work from home online. Hope in the form of MLM programs with attractive compensation plans never goes out of style. Building a good, strong multi-level marketing business with a strong downline is especially popular during times of economic downturn.

Don’t be afraid to offer an MLM opportunity  to your marketing audience. When presented right, this economic climate can be one of the best times to build a downline. When the economy is good, it’s even better!

Another excellent product that sells well in slow economic times is a cheap form of entertainment. People go for DVDs instead of a trip to the theater, and they enjoy their own popcorn, a fancy popcorn bowl, and a new TV and DVD player to play the movie.

People will often justify the new electronic equipment because they are saving money by not going out to the movies. Even if they don’t get the TV, the DVDs will still be hot. Other cheap forms of entertainment that people will go for include bikes for the family, exercise equipment, games, books, skis, and camping equipment.

These can all be sold as durable goods that people will get lots of use and benefit from, and save money with in the long run. You can promote good health and exercise and family with these types of items.

Information products on how to save more money and get out of debt are always good sellers, but they do even better when the economy is poor. People are looking for good, solid information to protect themselves and to keep their situation from worsening.

 In the same vein, information about credit repair, credit scores, and how to build better credit usually rake in big sales numbers during recessions. How to make money is a popular topic for information products, too, whether it’s an eBook about part-time jobs anyone can do or how to start your own Internet business or how to make and sell your own homemade products.

A really good, comprehensive product on how to avoid foreclosure or bankruptcy would work well for people who aren’t being foreclosed on yet but are worried that they might not make it through the recession.

When people are stressed over the economy or their own finances, they often look for ways to escape, even for just a little while. Escapism can involve many forms of entertainment. As mentioned earlier, the home theater system and new library of DVDs will be an option that many people turn to. Programs like Netflix  will probably see a spike in new business.

Whether you’re comfortable with it or not, sex sells well during slow economic times. It’s a major way to escape for lots of people. Adult movies and paraphernalia sell well, as do books and magazines.

For women, cosmetics are one of the last things to stop selling when the economy is bad. The economy has to be really, really bad in fact for cosmetics to take a nose-dive. The more moderately priced items will sell better than the super expensive ones, but skincare and make up will remain very popular.

Health will always be a good seller too, and when the economy is kaput people are even more interested in stress reduction and those types of health solutions. Vitamin supplements that help to keep stress at bay and boost energy will be good for people who are trying to work extra hours to bring in more money.

An info product about good nutrition on a budget might work well, as would a quality product related to the use of natural remedies and supplements to stay healthy and lower medical costs.

Going along with stress reduction, try marketing info products that teach stress reduction techniques or yoga and tai chi DVDs and instructional books and reports. Along with health products, you can always turn to weight loss products. These sell well regardless of the economy. If you can combine health and weight loss, you’ll probably have a winning combination.

Dating seems to pick up when the economy slows down, too. This is probably a product of people wanting to escape a little. Someone to snuggle up with on the sofa can make you feel a whole lot better about life than if you’re sitting alone with a cup of tea and your cat. Dating how-to books and products that help you find the perfect date or partner usually do quite well.

At-home spa treatments are also a safe bet. People really want to pamper themselves, but either don’t have the money or won’t spend the money to go to the spa for a facial or manicure.

Special do-it-yourself spa treatments will be right up there with cosmetics. They are relaxing and pleasant and they make you feel like you’re doing something special and indulgent. Sometimes that’s a big deal when there’s not a lot of cash for non­necessities.

One important area to focus one will be the DIY repair and maintenance area. People will be trying to make everything last longer – washers, cars, garbage disposals, computers – everything.If you can give them a way to do basic repairs and maintenance on costly items, people will buy it. Do-it-yourself home decorating kits, tips, and information should also sell well. This is another area like cosmetics. If you can give your home a little face-lift on a budget, you’ll do it because it will make you feel better.

Information on frugal living will be popular, too. Not necessarily survival living, but just ways to cut back and stretch each dollar – how to reuse and repurpose items in the home, frugal recipes, frugal holidays and entertaining reports, even things like how to make your own frugal household cleaners and such.

You might get good sales from offering some survival guides. Things like how to grow all your own food or how to modify your home to be less dependent on conventional forms of energy will be attractive to a certain (and growing) audience. Certainly “going green” is a hot topic, and combining that with any of these suggestions should make a very successful information product.

Spiritual and religious items will also sell well. When times are tough, people tend to turn to religion or look for a meaningful spiritual source where they can find some inner strength. Even though this is a sensitive subject, and you certainly wouldn’t want to exploit it, people will be looking for information and products that offer something to hold on to, helpful guidance, and some hope from spiritually.

Remember that there will always be people out there with money to burn. Having some high-end products to market won’t hurt because there will be buyers for them; it’s just that the field has narrowed a bit.

Now that you have a good idea of what still sells, even in this terrible economy, you need to have a good understanding of what motivates your buyer when there’s not as much money to go around. Well, as we’ve already touched on, some motivators are the desire to escape and the need to find ways to make oneself feel good (like spa treatments, or using nice cosmetics). The need for hope is a huge motivator, too. That’s why you’ll see people looking for a good MLM business opportunity or a spiritual path to follow.

Right now, people are not as motivated by the idea of opulence and spending for the sake of spending as they are by what will help and what will work. Buyers are mostly feeling very cautious with their money, but will still spend on something they feel offers some real substance of one sort or another. You can still market to the rich, but be very aware of the need to market to the person who is looking for a down to earth value and who wants to spend smart – very smart.

Now, more than ever, buyers are looking for safety, security, and long-term guarantees. They are looking for both lasting solutions and ways to answer their need to make themselves feel better now.

Your Internet niche marketing plan can mix both elements of wanting some sort of instant gratification and wanting more security for the future too. Market products on how to live more frugally, save money, and make extra money. But market the spa-quality cosmetic line as well, for example, because there will always be buyers for the higher end.

Give people access to new camping equipment that will make family camping trips fun and comfortable – don’t forget to remind them about how much money they will save by camping close to home, and enjoying all the things that nature has to offer. Let them know how fun camping is as a way to have a less expensive, but still fantastic vacation.

Offer your customers access to DIY projects that will spruce up the house and make them feel like they’ve really accomplished something. And help them learn to entertain on a budget.

During this time of recession, give your niche audiences something of substance to spend their money on. Make sure it’s the good stuff at a good price. They won’t forget you for it and they will come back for more.

 The recession isn’t going to last forever. Right now is a great opportunity for you to bolster your business by adding a few more products to your list. The customers you gain during this time will likely be willing to visit you again when times are better, hopefully to make a bigger purchase.

 

No related posts.

4 Responses to “Knowing What Still Sells in a Recession”