As we slowly recover from this wonderful fun recession we all might want to look at selling more to the “rich”.

They are out there.

But who are they?

66% are women
20% are minorities
68% are married couples
56% of those households earn over $250,000
21% purchased from a catalog 12 or more times a year
10.5% growth in households of $250,000 in income and above

Top 4 wealthiest areas in the United States
$118,509 – Los Alamos NM
$107,499 – San Jose / Santa Clara CA
$100,141 – Bridgeport / Stamford / Norwalk, Conn
$ 94,599 – Washington DC / Arlington VA
$ 92,020 – Bolder CO

Selling to the affluent is changing as is and has the economy. As a marketer you will find a fierce fight for those dollars. Not only is there more competition for their purchasing but the affluent households are looking for value over status. Of that the very top 2% of all this group of people has actually increased their spending 40% from the 3rd quarter of 2009. And studies show that these wealthy Americans do consistently respond to mail and catalogs.

Do you have a product or service that the wealthy need or want?

Larson Notes & Satire: Selling to the rich. Be it the 5 areas targeted above or areas where you live that have enclaves of wealthy people. You know where they are. If not get the census report and it will help you find them.

So ask yourself do you really have a product to sell to them? If so

1. Target the right price point for your product. These people, at least most of them are not rich because they go out on buying binges. They are smart and they are thrifty.

2. Target consumer attributes that are relevant to the product. Yes that’s right; again it falls on you to target the right product into the right demographic profile. Yes you can profile here. This is marketing not airport surveillance and that is what we do. Lol.

3. Have a good website where those prospects can go to get more information or actually buy your product or service. Is your site easy to navigate? Does the shopping cart work easily? Help them to buy.

4. Have multiple ways for the prospect to contact you off your mailer. As stated above, web site, but also phone number, email address and maybe even a return card or envelope.

Don’t think that people are going to buy from you because you’re such a nice person. You will starve if you sit and wait. Grasp your future! Be the driver of your life

Howard Larson
Larson & Associates
Target Marketing & Telesales Professionals for new account acquisition
Making good businesses great and great businesses even better

P.S. We make telesales for small business affordable by offering programs down to only 15 hours a week. Maybe you could add telesales into your marketing mix call today and find out.

P.P.S. An American Company, marketing American Companies! Call or email to get an appointment to pick my brain (a $125.00 value) for 30 minutes.

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Comment by Howard Larson on October 28, 2010 at 10:50am
Thank you Vincent.
Comment by Vincent Wright on October 27, 2010 at 9:32pm
While it's not firmly fixed at the moment, I was talking with someone earlier today whom I think I want you to meet. I should know more definitively within the next week...

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