Marketing To The Affluent
Today I received Direct magazine for August. The cover article is titled “Mad Money… The wealthy are still spending on luxury goods and services”. Does Dan Kennedy have his finger on the pulse of the economy, or what? (see yesterday’s post for more info on Dan’s take).
Click on the link to Direct magazine, then click on the August issue cover and you’ll be taken straight to the article. In the online issue there’s even a link in a sidebar to a related article: “Luxury Lists, How to Find High-End Buyers.”
According to Dan, the affluent class is expanding rapidly. He predicts that soon we’ll see demographics of the wealthy making up 1/3 of the population. The middle class will start to shift into the two categories. It doesn’t end there. Ultimately, 2/3 of the population will be affluent, there will be no middle class, 1/3 of the population will be poor.
I’m not an economist. Dan’s not an economist either. But, he’s a helluva marketer and when it comes to buying trends I’d put my money on a seasoned marketer any day of the week.
Thanks for taking time to read my blog today. I appreciate you spending some of your valuable time with me.
A consultation to determine if your business has hidden assets that can generate additional profit is available on Tuesday afternoons between noon and 2:00PM Pacific time. These consultations are limited to 15 minutes since only 8 are available each week.
To schedule your consultation write me at georgann at catchphrasemarketing.com with the date and time you would like. Please make your reservation no later than the Friday prior to the date you are requesting. Your appointment will be confirmed by email within 24 hours.
Dan Kennedy - Fix Your Follow-Up, part 4
Dan Kennedy’s most recent book is titled No B.S. Marketing to the Affluent: The No Holds Barred, Kick Butt, Take No Prisoners Guide to Getting Really Rich
1. Buying decisions are rarely made by price. Only 10% of people make buying decisions based on price. In a ‘real’ recession, that increases to 30%. However, at all times 40% of people NEVER buy based on price.
2. The affluent are the least and the last affected by a sluggish economy.
3. The greatest population growth is in the affluent. More people are becoming affluent than are becoming poor.
4. Because the affluent population is the greatest growth sector, their buying capacity is growing exponentially.
When selling to the affluent, Read more
Dan Kennedy – Fix Your Follow Up, part 3
Recession Immunization
Following are areas of your business that need to be scrutinized to optimize profitability.
1. Who you sell to - this matters more than anything else.
2. What you sell
3. How you sell
4. How you follow up
To attract the best-qualified customers, all others must be driven away. This takes courage; courage to stand firm in the belief that not considering everyone as your customer is in your best interest.
Dan’s Recession Prescription #1: Sell to a buyer. This is not as obvious as it may seem. Read more
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Georgann McCrosson
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