Starting a Business

Money Talks

Secrets to attracting the rich
Magazine Contributor
Writer and Author, Specializing in Business and Finance
1 min read

This story appears in the October 2000 issue of . Subscribe »

If you're trying to reach affluent customers, stay away from the flash, says Jonathan E. Robbin, president and chairman of Ricercar Inc. (www.ricercar.com), a Bethesda, Maryland, business information systems firm that specializes in targeting the affluent market. "It's important to distinguish between people who are truly affluent and those who [only] appear affluent."

Robbin offers these tips for crafting the right message for this market:

50 percent of millionaires live in middle-class neighborhoods, so geography is not a sure-fire indicator of wealth.

The truly affluent are generally frugal. Emphasize quality and value to them.

Affluent customers like their opinions to be respected-don't try to approach them with the "envy syndrome."

 


Gwen Moran is president of Moran Marketing Associates, a public relations and marketing communications agency in Ocean, New Jersey, and founder of BoostYourBiz.com, an online marketing information resource for businesses. E-mail her at gwen@boostyourbiz.com


Contact Source

More from Entrepreneur

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

Whether you are launching or growing a business, we have all the business tools you need to take your business to the next level, in one place.
Enroll Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

It Started As a Joke and Turned Into a Startup That Raised $1 Million in Funding