So I don't know if it's just me, but I've been hearing everywhere that a recession or Great Depression is looming or maybe even already here, and that can be really scary to hear.

So how do you ensure that the digital product you create will sell well even during hard times?

So it's no secret, at least here in the U.S., that the economy is bad at best.

Inflation is rampant. Groceries are sky high. And there are some reports that some things are coming down.

But at least when I'm scrolling through TikTok, it seems like a lot of people, including myself, have the consensus that everything is really expensive right now. And it seems like people in general are spending more of their money on needs versus wants.

So I really want to talk about what's going to continue to help you make sales with a digital product during hard times.

"Make sure that your digital product is solving a problem coming from need versus want as much as possible."

So for example, when I started as a photographer during that recession, I started out doing things like weddings, family portraits, things that are more needs versus wants.

And I know it sounds silly to think that a wedding or a family portrait is a need.

Obviously, that is still technically a want, I think, but there are other photoshoots like boudoir sessions and glamor sessions and things that are definitely more wants than needs.

I mean, no matter how hard times get, people will still get married. They will still want to document their families. But no, I am not here to talk about photography. I just wanted to use that as an example.

But the same goes for digital products.

So for example, if you are in the fitness and health space, how can you help people during hard times with the knowledge you have?

So for example, something they might need during hard times is:

-they want to lose weight but on a budget

-they want to be healthier but on a budget

-they want to cut back on going to the gym or having a personal trainer

-they want to be able to get in shape from home

So can you create an e-book or a course or some type of digital product that's going to help them to be able to save money, and cut back on their expenses while still hitting their goals?

If you can do that, I feel like that is the perfect situation during hard times to have a successful business and still help your clients reach their goals in a way that they can afford to work with you.

Now, of course, this always really depends on your ideal client, because I have heard this saying a lot, "the rich will always be rich."

So if your ideal client is truly wealthy, maybe a recession or a depression or whatever will not affect them as much as somebody who is more middle class.

And that's something to consider.

However, being a business owner, and as I said, I used to be a boudoir photographer and I used to sell on average $3,000 photo packages.

And even when my clients were very well off, when times were hard, they were still also cutting back on their expenses. Because if you think about it, rich people don't typically get rich by spending all of their money.

So no matter how much money somebody has when they hear times are tough or there is an economic downturn, I happen to think almost everyone is going to be tightening their wallets.

But this isn't something to be scared about. It's just something to be more strategic about so that your business can still thrive.

So some other things that people might need help with during harder times would be making more money, and saving money.

Maybe rent is getting too high, and so they need to learn about housing alternatives like RV living, and van life.

Those things are going to really, really thrive and you don't need to switch niches.

But think about how you can tweak things in your niche to cater more to needs versus wants.

Digital Products that will sell well during hard times are in the following niches:

1. Making money

So the first idea for a digital product that will sell well during hard times is something that will help somebody make more money.

So as we all know, salaries are not keeping up with inflation. So there are a lot of people that need side hustles or they want to make more money.

So if you're somebody who's in that niche and you can cater digital products around that, that's a win.

2. How to get a promotion

The second idea might be about how to get a promotion.

As I said, salaries are not keeping up with inflation, but if you're somebody who has a lot of information and knowledge around how to help people get promotions, maybe it is taking on more job responsibilities so they can pitch the idea of a promotion to their manager.

I'm not really sure what that is because I don't teach in this niche, but I know there are a lot of people out there who know a lot about getting promotions, and I think that's going to be a really good idea during hard times as well.

3. Alternative living ideas

So maybe you can help people purchase a mobile home or do RV living or van life or living out of their car.

I've seen people literally turn their Subarus into full-on like houses and obviously, this isn't for everyone. But if you're someone who's already teaching on traveling and living, maybe this is something that you can teach on as well.

4. Saving money, slash or couponing

The fourth idea is saving money on groceries, or slash, couponing.

So maybe you are in the fitness or health space or you're in the cooking space or you're in the saving money, couponing space, whatever space you're in.

This is a really good topic because there are so many people out there right now talking about how expensive groceries are.

I know we have switched where we grocery shop to cut our grocery bill in half because it was so expensive that it was noticeable to us.

And I know there are a lot of people out there who would be interested in learning more about smart and savvy ways to save money right now.

And maybe there are ways you can teach people to save money without necessarily cutting back on their lifestyle.

5. Fitness at home

If you are in the health or fitness industry, you might be able to help those who wish to save money on things like personal trainers or gym memberships.

Perhaps you could teach them other activities they can do at home and help them lose weight or get in shape at home.

That way, even if they're purchasing your digital product, they're still going to be saving money because they can get rid of the gym or get rid of their personal trainer, get rid of whatever that is, and they're saving on time as well.

6. At-home date nights/things to do for kids

So maybe you are somebody who's good at coming up with creative date nights, you can teach people how to do just that.

And I don't know about you guys, but my husband and I used to go on these lavish date nights. On Friday nights, we would spend like 1 to $200 on dinner. I know that might sound crazy, but we've cut back on that. We've gotten more creative with date nights because everything in general has gotten so expensive and we had to purchase a home in 2023.

We had to purchase a car in 2022. So we've become a lot more conscious about our spending and just being smarter with the ways we're spending our money because we even notice that when we go to dinner and spend $100 to $200 on dinner, it doesn't necessarily make for a better date night than something more creative like, say, going on a picnic in the National Forest.

So if you're somebody who can help people still have fun and not change their lifestyle, maybe even have more fun and more creative ways, but also be saving money at the same time, like things like date night or ideas for things for kids to do. I think that that's something that would do well during hard times.

7. Budget travel ideas

People don't necessarily want to cut back on their lifestyle, but they want to be able to afford the things that they want to be able to afford.

So maybe if you are somebody who is in the travel space, you can teach people how to travel on a budget, get more creative, and maybe go to countries that have a lower exchange rate.

Final Thoughts

There you have it! Digital products that will sell well during hard times!

I am a true believer that you can increase your sales even in challenging economic circumstances. So don’t panic!

Instead, plan, and create a digital product that will help people solve their problems during a recession.