Money Talks
This story appears in the October 2000 issue of Entrepreneur. 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
- Ricercar Inc., jrobbin@ricercar.com
