*A Book Review*
No B.S. Marketing to the Affluent
By Dan Kennedy
Review by Michael C. Gray
September 5, 2008
Dan Kennedy believes that a business that is sustainable in difficult economic times must "go where the money is" – to affluent customers who are willing to pay more for service, convenience, luxury goods and their avocations (such as golf).
He has been fascinated with this market for several years, and publishes a regular newsletter on marketing to the affluent.
Kennedy points out that as the middle class has been shrinking, the fastest-growing market has been the mass affluent. Two thirds of the change in demographics has been people moving up in economic class.
In the first part of this book, Kennedy describes the various affluent groups – the mass affluent, the affluent and the ultra-affluent. He also describes various sub-niches, such as late-in-life divorced persons, "cougars" (older women with younger boyfriends – think Demi Moore), men and their toys, gay and lesbian consumers, affluent boomers, and the self-employed.
In the second part, Kennedy tells the reader what affluent consumers spend their money on. Areas of interest include exclusivity, passions (golf, sailing), indulging grandchildren, indulging pets, jewelry, second homes, and seeking experiences.
The third part of the book is devoted to how to sell and market products and services to affluent customers. In particular, Kennedy highlights differences in the language that you use in marketing communications to affluent customers. Many of the strategies that he gives are adaptations of his "magnetic marketing" techniques that he has written about in his other books. They are well worth studying again in this context.
You know I am a great Dan Kennedy fan and endorse reading and implementing all of his books. They include very practical, no-nonsense material.
I have spent thousands of dollars to attend Kennedy's seminars and subscribe to his newsletters. You can get a lot of the same information for only $17.95. Of course, the purpose is to recruit you as a Kennedy student. In these challenging economic times, every business owner should study this book.
Buy it on Amazon: No B.S. Marketing To the Affluent: No Holds Barred Kick Butt Take No Prisoners Guide to Getting Really Rich.
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