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Main Content
November 23, 2007
Marketing to the very affluent
Today the Center for Media Research cited a report by The Conference Board with this insight, "73 million US households now have discretionary income, up from about 57 million in 2002. The proportion of the US population with discretionary income has increased to nearly 64%, up from 52% in 2002."
Digger deeper into the report, it's clear that if your product or service is desirable to the very affluent, you have a ready-made market carved out for you since the report goes onto say, "The top end of the affluent group (households with earnings of at least $200,000) accounts for only 3% of total households and 5% of households with discretionary income. This group, however, has 38% of total discretionary income with an average of $173,613 - more than seven times the national average."
The biggest challenge is how do you best communicate with them in a way that's welcomed by them and most effective for you? We've found the best way is with highly targeted one-to-one creative messaging. They appreciate the fact that you've done your homework to determine how your product or service can best fit into their lives, thus they respond favorably – with their wallet – and you realize a higher ROI.
Here's the link to the article.
Posted by Dave Larson, Director of Account Planning, on November 23, 2007 at 11:57 AM.
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