What’s the guaranteed way to make money in a gold rush?
In their wildest fantasies, most folks believe it’s through panning a rich, gold-bearing river or striking an untapped vein of the precious metal—that’s just waiting for the bravest and luckiest prospector to “mint” themselves a fortune.
But objectively speaking, you know what most people find at the end of their journey?
Nothing but sweat, tears, and disappointment.
Because, let’s face it…
While anyone can make money in a gold rush—and many try—there’s never enough supply to meet the overwhelming demand, which, by definition, is what makes a scarce resource valuable.
However, not everyone comes up empty handed.
In fact, during the famed Californian Gold Rush of the 1840s and ’50s, the entire American economy was invigorated by an influx of over 300,000 immigrants, who brought fresh investment capital, infrastructure, and industry to what was previously a difficult to navigate and only sparsely-populated state.
So who benefits in boomtown?You know who really makes money during a gold rush?
It’s not the little guy (or gal) putting their time, money, and life on the line to chance upon undiscovered riches.
It’s not the traveler from a faraway land, who spent their life’s savings on the journey after reading a sensational headline.
And it’s not the people joining the already-abundant labor force.
The ones who strike it rich are the merchants serving the miners.
Because while the prospectors may or may not find what they’re looking for…
They’ll definitely need picks, shovels, clothes, food, and a roof over their heads.
Just ask Levi Strauss, whose rugged jeans made him a multi-millionaire.
And that’s how you really make money in a gold rush.
By serving other people.
Actually, scratch that.
That’s how you make money—period!If you can figure out what people dream about…
What they want, need, and desire…
What their “gold fever” is…
You’ll always have clients to serve.
It’s as simple as that.
The problem is, most of us don’t naturally know what what other people want.
And it doesn’t help that we’re often given bad advice about pushing “ground floor opportunities,” “irresistible compensation plans,” and “products that sell themselves.”
As you might have discovered, those propositions don’t actually make many people want to pack up and stake their claim.
So, to help you dig deeper into how to effectively serve your prospects’ true wants and needs…
Below you’ll find a list of the 5 fundamental human desires we all share, deep-down.
You can leverage these psychological nuggets to understand how to really help your prospects get from “point a” (where they are now) to “point b” (where they want to go).
So let’s dive in!
Humans have a deep need for security.
Here’s just a few ways in which this manifests:
- Humans—and three other primate species—experience the “endowment effect,” where we prefer keeping what we already have to gaining something equivalent, but new.
- Physical comfort and safety are the two primary needs in Abraham Maslow’s “Hierarchy of Needs,” because when we don’t have them, it’s hard to think about anything else.
- Psychologically, we gravitate towards homeostasis, meaning we prefer constancy and security to experiencing new things most of the time.
- The first known written work (The Epic of Gilgamesh) is about the quest for eternal life, which, if you think about it, is really the desire for permanent health security.
In other words, we like our lives to be as stress-free as possible.
Which means showing how product can deliver security—psychological, interpersonal, financial—instantly makes it more appealing to your potential customers.
Conversely, showing how not buying from you results in the absence of security will also make consumers recoil at the thought of turning you down.
Of course, you shouldn’t lie to people or promise benefits you can’t deliver—but there’s certainly no harm in telling a “green” miner that they need a pick, shovel, and fresh pain of jeans before heading into the hills.
In the same way, there’s absolutely no harm in telling people the truth about why your product makes their lives, relationships, or bank accounts safer.
One example of a company that made security its unique selling proposition is Volvo:
A company that claims to make the safest cars in the world.
Sure, the company may be less popular than Europe’s top brands—BMW, Mercedes, and Audi—but it carved a respectable niche for itself by focusing on security…
Arguably the #1 desire all humans have.
Humans care about prestige more than you might think.
We like having nice stuff.
We like it when others know we have nice stuff.
And, irrationally, we’re prepared to pay way above market price to get things that other people want and envy.
This isn’t opinion, by the way.
What I just described is the “Veblen effect,” which makes people purchase more of a product when its price goes up.
Yup, you read that correctly…
Suggesting that an item is prestigious through premium pricing is enough to make people actually buy more of something.
Of course, this isn’t the only way to make people want what you have…
There’s also exclusivity; quality; uniqueness.
The point is, if you can show people that your product will increase their self-image and/or social standing, they will want it.
This is the principle that Apple leverages to sell its products at a significant premium…
And as the most valuable company in the world, they might know a thing or two about consumer desire.
Now, moving on…
Last year, York University researchers finally discovered something we’ve all long suspected:
We like new things more simply because they’re new.
This is why “new and improved” slogans are such a big part of marketing.
Sure…it’s tired, cliche, too obvious to work…
And yet, work it does!
Just ask Apple…
A company whose “new and improved” claims are so outlandish the company went on record saying “only a fool would believe” them.
True story: look up the lawsuit around the launch of the iPhone 4.
They know darn well their new devices aren’t really twice as fast, thin, or battery-efficient as the previous generation.
But they also know that newness—real and perceived—is a powerful way to generate desire.
To put it differently, let me ask you this:
Who hasn’t bought some silly fad product because it seemed “cool” at the time?
…or am I the only one that walks around in Crocs and a Snuggie? ;)
Obviously, the effect is much stronger when you actually have a product that’s new in one way or another.
We’re not saying you should mislead people—even if Apple does.
All I’m saying is that you can make small changes, even just switching out the images you’re using in your marketing campaigns, to make your offer seem fresh.
Make no mistake…
Small changes like these can have a profound effect, especially when they target Desire #4.
When we don’t get enough new sensations and experiences, we get bored.
Which is unpleasant, even painful.
And it leads to bad habits, like overeating and poor recreational choices.
In other words, boredom sucks—and human beings avoid it as a matter of instinct.
We also tend to seek out new sensations and experiences, which partly explains our love for new things (see point 3).
These can be broadly divided into 2 categories:
Physical and psychological.
The first includes the 5 senses—touch, smell, taste, hearing, and sight.
The second is a little more complicated, as the experience is internal.
But you can mix and match both types of sensation to connect with the other 4 human desires.
For example, high-quality materials—brushed aluminum, plush leather, silk—all smack of prestige in addition to being pleasant to the touch.
Heavy-duty padlocks inspire a sense of security, even if they aren’t significantly safer or more robust than lighter ones made of higher quality materials.
The key thing to remember is that helping people feel something guides them away from the pain of boredom and towards pleasure and sensation.
Maya Angelou was spot-on when she said:
I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.
Rational thinking certainly has a place in running a business…
But when it comes to marketing, think experiences first and logic second!
And if you want to give people the best sensation of all, then consider giving them a feeling of…
Abraham Maslow’s top 3 needs—self-esteem, belonging and self-actualization—are all related to how we’re perceived, both by ourselves and by other people.
This is because a desire to bond, connect and feel intimacy is arguably the ultimate human desire—and a powerful marketing tool.
Just look at CrossFit:
A $4 billion brand whose unique selling proposition is a sense of community that’s unique in sports.
Some call it a cult; others a family.
But the point is that people are willing to get behind products that make them feel connected to others.
You might feel that your particular product isn’t a natural fit for this desire.
And you may be right.
However, if you’re in network marketing, then know that the industry is ultimately about connecting other people.
Whether you’re serving your customers or helping your fellow distributors and team members build, connection is always priority number one.
That means you, as a network marketer, are perfectly positioned to tap into this desire by building a connected community around your product.
It doesn’t have to be hard, either.
All it takes is a Facebook Group here, a newsletter there, a few informal events from time to time—and you’ll make your prospects and peers feel connected.
Now, here’s the “million dollar question”:
What do your prospects desire?We’ve covered the hardwired “levers” all humans have in common.
Now it’s time to hone in on your particular industry to uncover how these desires manifest.
After all, “novelty” means one thing in the auto industry, an something else entirely in the dating niche, for instance.
And here’s the thing…
Most marketers flub this part of the process, because they don’t truly understand their prospects as well as they think they do.
Always remember that you are not your prospect.
You need to know how they describe their desires.
…if you want to create the types of marketing campaigns that speak their language, and make them want to learn more about what you have to offer, that is.
Thankfully, that’s exactly what you’ll discover in “The 10-Minute Perfect Prospect,” which is part of our 100% free traffic workshop.
It’s hosted by none other than Tim Erway, our fearless leader and CEO here at Elite Marketing Pro.
Tim will even show you how to narrow-down and identify a lucrative niche, regardless of how competitive your market is.
Most marketers go broke because they don’t get specific enough
Just like in a gold rush, there’s a lot of fellow prospectors out there waiting to eat your lunch.
Fortunately, the foolproof system Tim outlines for harnessing your prospects’ desires will work despite your competition.
You’ll learn how to craft messages that hit home with your audience and set you apart from the pack.
No gimmicks: just actionable advice you can start implementing today.
You’ll discover how you can put together a profitable ad campaign in just 10 minutes a day with as little as $10 in initial ad spend.
We’ve used the exact formula to turn a $10 test campaign into $141,246.30 in sales.
Yep, those are real numbers, and Tim will show exactly how we did it.
So if you haven’t registered yet, what are you waiting for?
Until next time,
Director of Content
Elite Marketing Pro
Latest posts by Andrew T Draughon (see all)
- The 3 Quick Tips to Keep Your Audience Engaged - August 16, 2017
- Eight Provocative Openers that Will Compel Your Audience to Consume Your Content - July 27, 2017
- The Persuasion Equation that Makes Your Message Stick - July 20, 2017