Last week on November 17th…
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 you’re 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 don’t need a VSL or a sales funnel to sell BTC.
The media KNOWS it… which is why they’ve 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:
“Wow, the ride is just getting started… I should be able to get in before BTC hits $80,000 or $100,000.”
“By the time it hits $100,000, I’d have made a fortune.”
This is especially the case when there’s 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).
It’s 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 don’t want to be the last one on the chopping block.
I’d say that FUD is a mix of fear and angst (there’s a bit of anger too)
Based on the two examples, you can probably now see how powerful the emotion FEAR is…
Because it hits the subconscious and it makes people irrational.
As a marketer or a copywriter, there’s so many different ways you can apply fear to convince and persuade your prospects.
… 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, it’s pretty much impossible to retire with the savings they have.
But it doesn’t 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.
“By printing more money, they turn your savings into toilet paper.”
Of course, you want to be super careful of how you use this.
You don’t want to be coming off as manipulative or fear-mongering which may affect your credibility.
That’s 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.