Takeaways - Deepstash

Takeaways

The Contrepreneur Formula uses a set of psychological tricks to sell scams to people who are desperate or disadvantaged.

The point at which marketers and entrepreneurs cross the line into contrepreneur territory is when they start creating false success stories, promising results they cannot deliver, and dramatically inflating their product's price to offer fake discounts.

In the end, contrepreneurs are geting more sophisticated by the day, so look for the signs, that you might be scammed.

STASHED IN:

1

MORE IDEAS FROM The Contrepreneur Formula — What It Is and Why It Works So Well

Success in the contrepreneur world is often demonstrated with expensive sports cars , mansions, private jets, and an entourage of gorgeous models.

This works because of a concept called “wishful identification.

These “success stories” are lies. Fake gurus have been caught renting mansions and sports cars, paying models to be in their videos, and even posing for pictures in fake private jets

This is so they can sell an unrealistic (and fake) dream to their victims.

STASHED IN:

1

When they pitch their product, contrepreneurs will dramatically inflate their product price so that they can offer what appears to be a massive discount.

This is a sales tactic called “price anchoring.”

The idea is to make your prospect believe that the product you are selling is worth a very high price.

People naturally feel compelled to take advantage of discounts out of fear that they may have to pay more to get the same product later.

STASHED IN:

1

The final piece of the Contrepreneur Formula is time and availability limits.

Most people will wait to make a purchasing decision until something forces their hand.

Putting a countdown timer on a special discount, bonus, or claiming that there are only 50 spots available in your program invokes “FOMO” or “fear of missing out.”

These tactics have the power to compel someone to purchase a product they may really not need or even want so that they can avoid feeling like they missed out the "deal".

STASHED IN:

1

Once the contrepreneur has demonstrated that they were once just like you, it’s time for a product pitch that promises extraordinary, unrealistic results.

Want to quit your job and make a million dollars this month instead? Buy my product.

Want to lose 50 pounds in three weeks? Pull out your credit card and the life you’ve always wanted will be yours in a matter of days or weeks.

People are naturally lazy. No one wants to hear that success takes hard work over a prolonged period of time.

STASHED IN:

1

The first tactic that contrepreneurs will often use is to tell you a “rags to riches” backstory.

For example, many people selling “get rich quick schemes” will talk about how they struggled with their own finances in the past.

This is an effective marketing tactic because it builds an instant connection between the seller and their victim, and how they are the best person to help them overcome the challenge.

STASHED IN:

1

If you’ve spent any time online in the last decade, you’ve likely seen an ad that promises to teach you the “shortcut” to getting rich, losing weight, or attracting the mate of your dreams.

These “free” events are nothing more than a sales pitch in disguise.

Mike Winnet , a YouTuber who exposes fraudulent marketers, has coined the phrase “contrepreneur ” to describe a con artist who makes their fortune by fooling desperate, and vulnerable people

STASHED IN:

1

Deepstash helps you become inspired, wiser and productive, through bite-sized ideas from the best articles, books and videos out there.

GET THE APP:

RELATED IDEA

Setting the right prices for your products

This is a balancing act. A low price isn’t always ideal, as the product might see a healthy stream of sales without turning any profit. Similarly, when a product has a high price, a retailer may see fewer sales and “price out” more budget-conscious customers, losing market positioning.

Ultimately, every small business will have to do its homework. Retailers have to consider factors like cost of production, consumer trends, revenue goals, and competitor pricing. Even then, setting a price for a product isn’t just pure math (numbers behave in a logical way; humans, not so much).

3

STASHED IN:

25

Customers are on a journey

What is the product a customer buys immediately before they buy yours? Usually, customers, especially during a process of digital transformation, are on a journey.

Examples: 

  • modernizing the sales infrastructure from simply Salesforce to a broader suite of call recording, marketing attribution, and sales content enablement 
  • migrating to a Kubernetes stack to power a microservices architecture with distributed tracing

The typical mid-market company purchases 137 SaaS products, and the figure grows 30% annually.

2

STASHED IN:

3

What Is Off-Page SEO?

Off-page SEO, covers all SEO tactics that take place outside of your website - i.e. any tactics that you use that don't involve making changes to your own website or publishing content on your own site

These signals help both search engines and users to gain a perception of your site's authority and are also used as key trust and relevance factors.

1

STASHED IN:

9