Whether you are a builder, architect, interior designer, kitchen and bath designer or other shelter professional, you share a common interest in understanding those wealthy buyers who purchase your products and services. Affluent buyers are different and embracing how they think and buy will help you reach this select group of consumers more effectively.
How Do You Define Ultra-Affluent Homeowners?
Most researchers define the Ultra Affluent as households with a minimum income of $250,000 annually. This elite group, with an average income of $326,000, comprises less than 1% of the U.S. households. Needless to say, this hard to reach group of consumers is a fertile audience for your message - if you can offer a message that is appealing and persuasive.
How Are the Affluent Different?
Research shows that the elite affluent, defined as the top 1% of earners in the US, seek products and services that are unique, rare and timeless. They want to be surprised and seduced by the experience of their purchases. Indeed, what they buy reflects their self-perception as Trendsetters, Winners and Connoisseurs. Take a peek at the brief video below and see if you can recognize some of your clients in these examples.
Trendsetters, Winners and Connoisseurs
Trendsetters care about staying ahead of the curve on what's hot and new in the luxury market. They buy the latest fashions, gravitate towards the cutting edge and thrive on being outside the norm. Winners make purchases to reward career achievement and to be sure that others recognize their success. These Ultra-Affluents will only buy widely recognized brands. Connoisseurs are discriminating personalities who research thoroughly and covet professional or like-minded advice when making a purchase. Their satisfaction is driven by products and services that are authentic, superior and timeless.
Where do your clients fit into these groups?
