Historically, free standing inserts in daily newspapers tended to advertise discount tax preparation services, furniture sales, K-Mart, Wal-Mart, Payless Shoes, a chiropractor’s office, an auto repair shop.
Recently, in a daily newspaper, I found a slick, full-color, 4-page insert for a ‘private lakefront community’ with a Jack Nicklaus golf course, homesites starting at $200,000.00, boat slips available.
It wasn’t all that long ago, incidentally, that the symbol of affluence was a two car household. Now it’s a two house household. On a flight to Orlando, every person in first class owned both a Cleveland home and a Florida home.
An article in the New York Times (4/21/05) asked the question “Who Pays $600.00 For Jeans?”. Upon reading, I discovered, a lot of people do!
In fact, the Secret Circus Clothing Company have produced a pair of jeans (seen in the picture at the top of this post) which have 15 diamonds attached to the back pockets sold for $1,000,000.
In the clothing business, jeans priced upwards from $75.00 a pair are called “luxury denim” and for the past four years, luxury denim has been the fastest growing category in the apparel business. (I buy mine from Blair for $19.00 a pair.)
The “mass affluent” are the fastest growing demographic. For now, I’d like you to consider a few questions.
For example, are you under-pricing your goods or services while selling to somebody who is going to turn right around and pay $250.00 for a pair of jeans?
How aware, informed are you of your customers price and spending behavior, with businesses, goods and services other than your own?
Could I stump you with questions about where they shop, where they vacation, what they buy, what they pay?
Are you failing to craft offers that appeal to the rising mass affluent? And/or are you failing to target them? (Rob mansions – not convenience stores!)
Author Info: Dan Kennedy is internationally recognized as the 'Millionaire Maker,' helping people in just about every category of business turn their ideas into fortunes. Dan's "No B.S." approach is refreshing amidst a world of small business marketing hype and enriches those who act on his advice. 
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{ 23 comments… read them below or add one }
for the last 15 years I have owned a carpet cleaning biz (I own multiple businesses) – anyway my wife is amazed at how people will spend $500, $1000 or more to have their carpets cleaned…to her this is ridiculous… to me it’s perceived value… people will spend whatever the amount as long as they see its of value to them.
…and although I cringe at my daughters paying more than $30 for a pair of jeans or $25 for a bra… I understand the philosophy behind the purchase.
This reminds me. I need to get my butt over to Planet Hollywood today and buy a $600 pair of jeans to reward my butt at the end of my transformation. I start a 30 day body cleanse/workout/crazy-town wieght loss thing for a challenge somebody gave me–which I internalized to a spectacular degree.
Turning 50 is hot!
Stage Hypnotist Simone
Las Vegas. Click on my HypnoHead to see my daily videos of the physical transformation of my body during the challenge.
Absolutely right. I have people that pay more as much for golf lessons as a months mortgage. You never know what your prospect will buy from you until you make an offer.
Have raised my prices four years in a row while everyone else in MI has lowered their prices four years in a row. Thanks Dan!
Selective Extravagance.
Great contrarian advice, as usual, Dan!
Most small business owners are making the mistake these days of discounting their services, falling for the brainwashing of the mass media that “times are tough for everyone”.
More money than sense?
I wish I had more money than sense.
That’s despite the fact I don’t have much sense, either.
Everyone loves a little luxury in their life and often perceive a higher price as a better product. I just engineered my restaurants menu to sell more items that contribute a higher profit to my business. The No Bs Books have changed my business for ever! Way to go Dan and thank you
Good to see you on here Jim!
…and see you in New Orleans next month!
You got it! Tripled my profits by finally charging what I’m worth and targeting the people who are already spending money…. Funny many broke people spend $400 on jeans, it makes them feel important!! So can your marketing and copy!
I used to be a window cleaner. I made great money at it because I knew that a segment of people with dirty windows really could care less what it cost them to clean their windows. I charged them high rates and they gladly paid. Seems a fair deal all around.
Stage Hypnotist Simone
Las Vegas
Mass Influence, Mass Affluence, Mass Hypnosis. Do you get it–get get paid because you ASK for the $600.00 Kobe Steak instead of the Walmart version. You’ll be in the room with other people buying $600.00 steaks. You happen by their table and you say, “Hey!” Get it?
When they find out you charge crazy high fees—suddenly YOU’RE the go-to guy or gal for what you do! (to a person of affluence).
Stage Hypnotist Simone
Las Vegas
people tend to gravitate towards successful people…
My wife an I like Buffalo burger (about $5 a pound here) – I bought 80 pounds of the stuff last year to fill my freezer… but I ended up giving about 40 pounds away as gifts – I included the buffalo farms address. I never mentioned price. But everyone I gave the burger too – raved about it. Best darn burger around…lean, healthy and grass fed.
I instructed the farm to sell it for $8.50 a pound – he couldn’t keep enough in stock.
Dan Kennedy has a video on YouTube about the $600 slabs of meat that the affluent LOVE to invest in.
The good news is that, while you are searching for the video, you will learn more about marketing (by accident) than most people get in a lifetime.
Stage Hypnotist Simone
Las Vegas.
Everyone please Digg, FB Share and retweet these posts if you can!
Let’s help Dan out.
you got it Brian…
Brian, what’s your experience with Digg and LinkedIn. I still haven’t really dug in here yet.
Retweeting this article now.
I do the whole gamut of time wasting social media…. (ha ha)
plaxo, linked in, myspace, facebook, twitter
but really only use facebook and twitter
Facebook and Twitter are weapons of influence, for sure.
Twitter used to be too chaotic for my ADD – but I figured it out and now consider it just another marketing tool!
Someone ought to start a jeans company, and sell the jeans for just $50 then the currently highest priced jeans…
If that was the only benefit, and they touted it, people would trip over themselves to get those jeans. especially if you put the brand name on the outside in BUG UGLY LETTERS.
The stuff works. But to understand just why it is so… Dan is King!
I use linkedin successfully. it is a great way to gather testimonials form clients, meet people, and remember people you may have forgotten from previous “missed connections.”
Feel free to hook up with me on linkedin… Any follower of GK marketing is someone I want to schmooze with!