Hey ,
Last week on November 17thβ¦
The US government just announced the infrastructure bill which created a massive selloff for Crypto markets.
This landed a massive punch to my portfolio (…ouch).
In this issue, I want to talk about the concept of FEAR which Kenneth talks a ton about in his DETDA (Dark Emotions That Drives Action) module.
Because I think Crypto provides awesome context to learn about psychology.
In case if youβre completely new, you may not have heard terms such as FOMO or FUD.
FOMO – Fear of Missing Out. This term is most relevant when Bitcoin goes parabolic (like from $41,000 to $60,000 in a month).
People hate missing out on opportunities to get rich like this.
Because in a parabolic bull market, Bitcoin = $$$.
You donβt need a VSL or a sales funnel to sell BTC.
The media KNOWS itβ¦ which is why theyβve been publishing a ton of Bitcoin news lately.
CNBC, Forbes, Bloomberg⦠you name it.
FOMO typically happens during a sudden bull market where you see tonnes of buyers rushing in droves.
Because when BTC goes from $40,000 to $60,000 in a month⦠their brain starts to think:
βWow, the ride is just getting startedβ¦ I should be able to get in before BTC hits $80,000 or $100,000.β
They think:
βBy the time it hits $100,000, Iβd have made a fortune.β
This is especially the case when thereβs a ton of Crypto influencers hyping up for a $100K BTC.
FOMO is a mix of Greed + Envy.
The other big term in Crypto is FUD.
Fear. Uncertainty and Doubt.
This is the most dominant emotion when we go through a sharp selloff (like in December 2017 and May 2021).
Itβs almost like a bunch of people playing a 100-pax Musical Chairs and people are scrambling to find seats as the music slows to a stop.
When the market plunges, people get irrational.
They start selling because they donβt want to be the last one on the chopping block.
Iβd say that FUD is a mix of fear and angst (thereβs a bit of anger too)
Based on the two examples, you can probably now see how powerful the emotion FEAR isβ¦
Because it hits the subconscious and it makes people irrational.
As a marketer or a copywriter, thereβs so many different ways you can apply fear to convince and persuade your prospects.
β¦ so use this ethically.
Fear of missing out on X, Y, Z benefits.
Fear of getting stuck in their Miserable Home for the rest of their life.
Like for financial and investment related offers, one of the biggest fears of people who buy them would be the inability to retire.
Most baby boomers know that with inflation at this current trajectory, itβs pretty much impossible to retire with the savings they have.
But it doesnβt stop there.
You can elicit anger together with fear too.
By explaining the truth behind inflation and why the FED is the exact cause of it.
βBy printing more money, they turn your savings into toilet paper.β
Of course, you want to be super careful of how you use this.
You donβt want to be coming off as manipulative or fear-mongering which may affect your credibility.
Thatβs all I have this week.
I hope you find this useful :D.
By the way, the greatest Holy Grail Launch is getting started next week.
Clickbank is on board and I’m pretty sure this will be our biggest and baddest launch EVER.
Cheers,
Zachary Tan