Victoria Cerrone of the Florida council of The Luxury Marketing Council offers: “The top 10% of the demographic pyramid are responsible for 71.5% of total US household net worth and 50% of all spending. But, they don’t all wear Brioni suits, drive a Bentley or carry a Vuitton bag. In fact, 80% of affluent consumers are a product of the middle class. Connecting with this narrow and unique segment has never been more challenging.”
Profiling has politically incorrect connotations. Yet, smart direct marketers profile best guests in order to learn where likely future prospects are found. And, profiling is a natural tendency of each of us. We tend to rely on stereotypes – and if they are found correct initially, we are very comfortable remaining on that track.
As a marketer, it is a goal to attract new converts – ultimately new zealots. Be open to the idea that these new fans may represent a different demographic and a new way of communicating what your brand delivers. Ultimately, the sustainability of any brand depends on attracting new zealots, not just more of the same stereotype.