Marketing to Affluent Customers

Today we’re really going to dive into marketing to and attracting more affluent customers to your business.  First we need to really understand why we need to work at attracting those clients, and why it’s even more important during these new economic times.

First and most simply stated, affluent customers have security.  These customers are the least and the last affect by the economy.  There is also far less competition and fewer businesses are seeking or reaching the upper crust of spenders.  So not only do they have the money to spend, but there are even less people trying to reach them!  Sounds like a good place to be!

And once you get an affluent client, they are less price sensitive than the average consumer meaning you can simply charge more.  Answer these two questions: To make $1 million, would you rather make 1,000 sales of $1,000 or 100 sales of $10,000?  How about ten sales of $100,000.  Further, is it ten times harder to make a $10,000 sales vs. a $1,000?  Of course not! 

Once you get these big spending clients, you’ll have a built-in advantage over all other competition who try to poach your customers.  Because of you increased margins you’ll be able to invest more to keep those clients. 

Most of your competitors are ruthlessly cheap.  They just won’t spend them amount of money require to woo these high earning customers.  Not only are they unwilling, they probably don’t have the means!  You’ll be able to put and iron-cage around you ideal client and you’ll be in a position to out-spend your competition, a significant advantage to have.