Because the market is so diverse, reaching affluents is tricky. Other traditional rules of marketing are likewise inapplicable, he says. The person who buys a yacht on credit as a tax shelter, for example, isn't necessarily affluent. Resources like the Auricom Active Investors list, which tracks transactions by individuals and corporations in securities and commodities, can be extremely useful, says Robbin, but the trick to reaching the affluent market depends most on matching the product with the appropriate market. Affluence isn't just a matter of who is being approached, he says, but what is being peddled.
Affluence is really dependent on the product.
Hence, reaching the affluent market becomes a matching game with numerous variables. Just because Stanley and Danko's millionaire may prefer a Ford doesn't mean there aren't plenty of affluent buyers for Lexus. Conversely, marketers hoping to entice different types of affluent customers to buy the same product should develop more than one set of messages, says Stanley. It's also important to keep in mind how your audience sees themselves, says Judith Langer, president of Langer Associates Inc., a New York market research firm. Their reasons for buying may also be at odds with the received marketing wisdom, Langer says.