Profitability Point #2 – Affluent Clients Shop on Value, Not Price

Affluent clients will pay the asking price even if it’s 100% more expensive than the competition IF they perceive there’s added value what you are offering whether that is one-of-kind exclusivity, proven results or VIP customer service.  Higher price points create more wiggle room for higher profitability margins.

If you missed the first Profitability point, check it out here!

Listen to Kelly’s Profitability Point #2 here!

Thanks and let us know your thoughts. I encourage you to leave your comments or questions below.

Article by Kelly K. O’Neil, Million Dollar Marketing to the Affluent Coach and Creator of the Marketing to Millionaires™ Programs

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There are a lot of reasons to own your own business.  The freedom it can provide, the ability to do something that you are incredibly passionate about, and the ability to have unlimited income.   Unless you are running a non profit, the most important factor of successfully running a small business is to create profitability.   While many small businesses simply rely on increasing revenue, more important is increasing your profitability.

Target Marketing is a strategy that involves breaking a market into segments and then concentrating your marketing efforts on one or a few key segments.  Target marketing can be the key to a small business’s success. Target marketing provides a focus to all of your marketing activities. The beauty of target marketing is that it makes the promotion, pricing and distribution of your products and/or services easier and more cost-effective. Now you have a choice to make….target people who can easily afford what you are selling….or market to people who can not.

Honestly, it has always made sense for businesses to target affluent clients.  However, with the shift in the economy, if you are not targeting affluent clients who have discretionary income to afford your products and services, it is a business killer.

Here is the first of three reasons (the other two reasons still to come!) why employing the Jesse James Strategy and marketing to the affluent will increase profitability in your business:

Profitability Point #1 – They Actually Have Money to Invest In Your Services

If you would like to achieve financial wealth, you need to figure out where a vast majority of the money is and then go there and get it.  It reminds me of the great quote by infamous bank robber Jesse James.  When asked why he robs banks, he said “because that is where the money is.”   I know that seems like a no brainer, but I come across clients every day who are wasting all of their time and money trying to sell their services to people who simply do not have the money to pay for them which is extremely time consuming and costly.

The affluent have money and plenty of it.  And they are absolutely willing to invest money in services and products they find valuable.  In fact, statistically speaking 22% of U.S. households have over 55% of all earned income. That is more than half of the income is concentrated in one of five households.

Listen to Kelly’s Profitibility Point #1 here!

Thanks and let us know your thoughts. I encourage you to leave your comments or questions below.

Article by Kelly K. O’Neil, Million Dollar Marketing to the Affluent Coach and Creator of the Marketing to Millionaires™ Programs

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Successful Entrepreneurs know how important it is to stand responsible for their own actions. As I teach my kids…you are in charge of your own thoughts, feelings and actions.  No one else.   It is all on you.  And every action has a result.  Some results you like and some results you don’t.

Here is what I know to be true.  We have all created our environments to be perfectly designed to deliver the results we are currently getting.  If we want new results, we need to realign our strategies to create those results.

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The Recession Proof Marketing Strategy: Marketing to Millionaires™
“7 PROVEN Strategies to Attract, Sell, Service and
Retain Affluent Clients”

LIVE Q & A Session
Date: Thursday, April 23, 2009
Time: 1:00 PM Pacific, 2:00 PM Mountain, 3:00 PM Central, 4:00 PM Eastern

Join me for the chance to get ALL your questions answered about this CRITICAL topic. Register NOW and receive the call-in information in addition to a link to last week’s Preview Call recording so you don’t miss a thing!

Sign-up TODAY by clicking here!

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