As I write, I think we are still in the beginning stages of a long, large bear market following the largest and longest bull market in history. What sells in a bear market may be different than in a bull market, or the major reasons or emotions for buying the same product or service may differ. What sells relatively well in a bear market promises security, alleviates fear (e.g., the phrase “proven methods”), nourishes fragile trust (through relation building and coaching), rationalizes anger (sadly), reinforces group identity, and masks (alcohol) or diverts from (entertainment) emotional pain. Why are warnings against scams popular? What is the attraction of dating services now in comparison to bull market days? Does sex sell because of associated joy and pleasure or because it proffers security (with a mate) or temporary relief–or for a darker reason?
Of course, there are social trends on which one should not capitalize because it would be wrong or unfair. On the brighter side, there were successful and legitimate businesses during the Depression years of the 1930s. My grandfather got a job in pharmaceutical research in 1929 and kept it through the 1930s, World War II, the Korean Conflict and beyond–in other words, the health industry did well, or parts of it did. (At present, the establishment medical industry is often very expensive. Cheaper, effective alternatives may do well.) Shoe and car repair are safe bets in a downturn. Money (or energy bill) saving devices may do alright. Think of home and business security systems and breeding guard dogs. Businesses that can sell alternative income opportunities for cheaper start up costs have a hungry market–work from home, affiliate marketing, network marketing/MLM, paid surveys, etc. Up for a brainstorming session, anyone?
Those who understand the emotions of the times position themselves to provide what the herd wants.
Tags: affiliate marketing, bear market
