Understand Why People Spend Money - Work from Home Jobs, Online Jobs & Side Hustles (2024)

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If you can understand why your audience opens their wallet to buy, you can trigger them to do so whenever you want them to.

If are serious about marketing, you have to understand how to evoke emotions in your audience that encourages customer loyalty and purchasing.

In fact, emotions are often more important than other factors when consumers make decisions.

When creating marketing messages — especially those that trigger emotions — it helps to understand the reasons why people spend money in the first place. Here are some of the emotions that motivate people to buy.

1. People Spend Money to Portray an Image

People want others to perceive them in a certain way. That need often drives them to buy things to help them keep that image, not only for others to see them that way but also to see themselves that way.

2. People Spend Money to Avoid a Bad Feeling

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Whether they think that they’ll miss out on something awesome, or have some other bad feeling, avoiding a bad feeling is a powerful motivator to buy something. If you can show how your product or service helps your audiences avoid a bad feeling, they’ll be more likely to buy.

Levitin explains whyspas, revitalizing creams, supplements, and you-deserve-it type products and services sell well: “Revitalization products promise exhausted consumers a mental, physical, and emotional uplift they’ll happily pay big bucks for.”

3. People Spend Money to Gain or Earn Freedom

A good example is a housekeeper or virtual assistant. Is a housekeeper selling a clean home, or more time? Is a virtual assistant selling document processing or more time? If you can be clear about what it is you’re really selling, you can entice your audience to buy from you more often.

4. People Spend Money to Fit in With the Community

Everyone likes being part of a community and part of the “in” crowd. If making a specific purchase will make them more of a part of the community, they will make it happen.

5. People Spend Money to Get Instant Gratification

Understand Why People Spend Money - Work from Home Jobs, Online Jobs & Side Hustles (2)

People like getting what they want when they want it. If you can offer them an instantaneous way to give them what they want, they will most certainly take the bait. The important thing is to deliver on your promises.

An example of instant gratification is an ebook they can download right away or a course they can access immediately.

6. People Spend Money to Gain a Sense of Power

When people buy something they view as potentially life changing, they feel powerful and in charge of their lives. If you can offer something super special that solves a very specific problem and evokes feelings of power in your audience, you’ll have a winner on your hands.

7. People Spend Money to Prove or Gain Self-Worth

Some people, maybe people in your audience, lack self-worth and need a way to get it. If you can offer them that feeling when they buy your products or use your services, you’ll sell a lot.

8. People Spend Money to Solve a Problem

One of the most obvious reasons people spend money is to solve a problem. Show them how your product or service solves their problems, and they’ll buy from you when the price is right.

9. The #1 Emotion You Want to Trigger

Trust is the one emotion that makes your audience want to give you money. Money is very personal and your audience must trust you to give you some of it. Here's how to earn that trust.
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Getting your audience to trust you is the most important emotional marketing trick that you want to exploit and get right. If you can get this one thing right you can explode your business.

Developing trust is a process; it’s a long-term marketing strategy that will pay off again and again. When you get just one person to trust you, they will tell ten others, and those ten others will each tell ten more people. The trust will spread far and wide until the very mention of your business name will mean trust. Ok, maybe it won’t go that far, but you never know.

It’s important to study your audience so that you know how to trigger these feelings within them, and know which ones they use when they choose to buy.

If you can find the trigger that keeps your audience from saying no, you’ll explode your business beyond your wildest dreams.

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Understand Why People Spend Money - Work from Home Jobs, Online Jobs & Side Hustles (2024)

FAQs

Do people really make money from side hustles? ›

Nearly everyone could benefit from a bit more cash, especially when a full-time salary falls short. A well-chosen side hustle can provide the additional income you need, supplementing your day job. Side hustlers come from all walks of life.

Why is it important to have a side hustle? ›

Why is a side hustle important? Having a side hustle can generate more income and help people pursue something they're passionate about on the side. It also can build skills and open up new networks and opportunities.

How do people work from home and make money? ›

How to make money at home
  • Become a virtual assistant. ...
  • Pet sitting. ...
  • Sell your possessions online. ...
  • Tutor students online. ...
  • Start a blog. ...
  • Sell services online. ...
  • Create sales funnels. ...
  • Sell consulting services.
Jun 30, 2024

What of people have a side hustle? ›

Nearly half of Gen Zers and millennials have a side hustle

The percentage of Americans with a side hustle decreased slightly year-over-year, but it's still a common way for people to bring in extra cash. Around one-third (36 percent) of U.S. adults have a side hustle in 2024, only down slightly from 39 percent in 2023.

What is the #1 side hustle? ›

1. Freelancing. Freelancing is a tried-and-true way to earn extra money and deserves a top spot on any list of easy side hustle ideas. Freelancers deliver work on a per-project basis for one or more clients and you can schedule it in your spare time.

Which side hustle makes the most money? ›

These side hustles include:
  1. Marketing Strategy. This side hustle stands as the highest-paid side hustle of 2024, commanding rates of $178 on average. ...
  2. Mobile App Development. ...
  3. Presentation Design. ...
  4. Web Design. ...
  5. 3D Industrial Design. ...
  6. Brand Style Design. ...
  7. Packaging and Label Design.
Feb 28, 2024

Why is everyone doing side hustles? ›

1. Financial Need: Side hustles can provide extra income, which may be necessary to cover expenses, save, or pay off debt. 2. Flexibility: Side hustles often offer more flexibility in terms of hours and location, making it easier to balance with a full-time job.

Why do people hustle for money? ›

Even if it's only an extra $100 a month, a side hustle can add to your financial security by increasing your income. You also have the potential to make a lot more per month, making it easier to pay off debts, save money, and just generally breathe a little easier when you make your budget.

How to get money asap? ›

How to get cash fast
  1. Sell something. If you have anything sitting around your house collecting dust, then you could turn it into cash. ...
  2. Pawn something. ...
  3. Sell unused gift cards. ...
  4. Access your paycheck earlier. ...
  5. Take on a freelance gig. ...
  6. Pet sit. ...
  7. Babysit. ...
  8. Ask for a loan from a family member or friend.
Jun 27, 2024

What is the highest paying online job? ›

Highest-paying work-from-home jobs
  • Director of business development. ...
  • Senior project manager. ...
  • Audit manager. ...
  • Front-end developer. ...
  • Information technology (IT) security specialist. ...
  • Architect. ...
  • Psychologist. ...
  • Software engineer.
Jul 15, 2024

How can I make $200 a day working from home? ›

Make $200 Per Day From Home jobs
  1. Licensed Mental Health Therapist (No Associates) ...
  2. Licensed Medicare Sales Agent. ...
  3. Insurance Agent - Work From Home. ...
  4. Resource Planning Analyst - Work From Home. ...
  5. Work From Home - Insurance Broker. ...
  6. Strengthen your profile. ...
  7. $2,500 Per Property - Find Ugly Houses / Motivated Sellers.

What is the best side hustle to start with no money? ›

The majority of side hustles that require zero upfront investment typically tend to be brain-related work; for example, they could involve coaching, consulting, design, and other virtual work.

Does everyone need a side hustle? ›

Having a side hustle can keep you afloat while you look for more work. You're less likely to rely on credit cards or dip into your retirement savings if you have extra money coming in. You can also build up your emergency savings so you're prepared for a potential layoff.

What is a small side hustle? ›

noun. , Slang. a job or occupation that brings in extra money beyond one's regular job and main source of income: My book launch was the catalyst to finally take my side hustle seriously by turning it into a full-time gig.

How much does the average side hustle make? ›

The average monthly income of a side hustle is $483. 1 in 5 Americans report making over $15,000 a year from their side hustles. Side hustlers said they would need to make an average of $4,500 a month to consider leaving their full-time job. 44% of Americans have a side hustle to help cover their bills.

Why do most side hustles fail? ›

It might be obvious, but many businesses fail because they don't make money. That could be because they have mispriced their products, didn't sell enough or had other costs that outweighed the money the business made.

How can I make an extra $2000 a month? ›

How To Make $2,000 A Month
  1. Online Freelancing.
  2. Use Get-Paid-To Websites.
  3. Deliver Food For Money.
  4. Virtual Assistant.
  5. Start A Blog.
  6. Start A Service-Based Business.
  7. Deliver Packages For Money.
  8. Do Odd Jobs For Cash.
Jul 23, 2024

How can I make an extra $1000 a month? ›

Passive Income: 7 Ways To Make an Extra $1,000 a Month
  1. Buy US Treasuries. U.S. Treasuries are still paying attractive yields on short-term investments. ...
  2. Rent Out Your Yard. ...
  3. Rent Out Your Car. ...
  4. Rental Real Estate. ...
  5. Publish an E-Book. ...
  6. Become an Affiliate. ...
  7. Sell an Online Course. ...
  8. Bottom Line.
Apr 18, 2024

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