Here’s what my network is saying…
And here’s what to do about it!
Hello fellow marketers, media buyers, copywriters, and ‘others’...
It’s been nearly three years since this American has set foot on American soil, but just because I might not see many Americans face to face, the internet shrinks the world, and I’m getting the same questions about our industry and what’s the next move to stay ahead!
So what’s going on?
15 years of marketing experience tells me it’s cyclical.
Every few years the market changes from physical courses, to dvd’s, to something else.
Every few years good sources for traffic change.
And every few years the FTC wakes up and rocks the market a bit.
But this feels different. It’s lasting a bit longer. Renewals aren’t quite as strong. Ad dollars aren’t going quite as far.
So what’s the deal and what’s the ‘coming next’?
First, I think this is just a very severe cycle change in our space. Generally speaking, the world has experienced a severe cycle change over the last 2 years and the financial industry has seen the same.
Customers have experienced some of the wildest market (and life) they’ll ever deal with. They’re spending more time online, and it’s always going to be a battle for attention online against whatever crazy is happening in the world.
Offers are still converting, but things have changed.
Metrics of scale have changed.
MEDIA COSTS have changed.
And selling has become different in a space that was unregulated for a BIT too long.
Surviving and thriving during these times really comes back to basic business and marketing skills…and experience haha!
I wish there were a few awesome bullet points I could lay out for you to tell you exactly how to deal with each of the above issues…but won’t lie to you. Everyone’s business and needs are different. Everyone has different assets that can be used differently in today’s market. The key is being flexible and plugged into what’s working and what’s not so you can stay ahead of the curve.
“They Took Our Customers!!”
New traders are needed at the bottom and top of the ‘money’ stream for our industry.
There’s always an interesting ‘on ramp’ for new traders and crypto has been the biggest diverter of customers into the ‘normal’ trading space.
There are a lot of reasons why Crypto customers are staying out of the trading space, and reasons why they land back IN our space.
This is cyclical…that won’t fully ‘recover’...but cyclical.
See I’m old enough to remember the Forex Robot Run of the mid 2000’s.
Anyway, in my opinion this isn’t much different than those times.
The difference lies in Crypto tying harder to ‘life’ and constantly in our face, and VERY well funded. So I think there will be crypto traders for life who never convert to the dark side, but I think most will return and dabble.
Now for the ‘top stream’...I believe crypto blew out a good number of potential retiring dabblers who are working instead of trading.
And generally speaking, most EVERYONE is dealing with inflation tightening their spending in some aspect. If my gas for my Mustang costs more, then I can’t spend it on the latest shiny trading course.
But what’s clear is that this downtrend has continued longer than people I’ve spoken to expected (or can tolerate).
Although the market is in a VERY weird place, there’s hope.
Frankly, there’s always hope.
Hope lies in your willingness to change/risk/pivot to keep your business and message moving forward.
What changes should you make??
I’m not sure specifically what your goals are, what your funnels look like, how many people your business is supporting, or how many products you have. Maybe we should chat and see if I can help get you on the right path?
But there ARE changes that you can/should make to improve conversions on the front end (lead gen or low price offer). I suggested in a previous post (HERE) about testing new variants of pages/offers.
If you want to have a brainstorming session to see how you can keep growing, let me know, I always enjoy them!