How To Attract Affluent Customers And Make Your Photography Fit Their Lifestyle

Are you a portrait photographer? Wedding photographer? Commercial photographer?

Who are you targeting, the people that are barely squeaking by, trying to pay the mortgage, or trying to cover the next payroll?

Times are tough right now, but not for everyone. 22 percent of American households have more than 55 percent of all earned income. This means that one out of every five households controls more than half of America’s wealth.

And while it’s easy to get sucked into the notion that people aren’t spending, the truth is these one in five are spending – and they are spending a lot! They are just being more cautious about what they buy, making sure they get the best deal possible for their money.

If the sheer numbers of people spending money hasn’t convinced you on why this target market is so important right now, here are 5 more reasons to push you to start marketing your products to this audience.

1. It takes less energy and less sales to meet your goals.

If your goal is to make $100,000 this year, you can do so in a variety of ways. You can sell 100,000 people something for $1, or you can sell 1 person something for $100,000, or somewhere in between.

That sounds basic, yet so many people don’t look at sales this way. They choose price then try to retrofit customers into their packages. Isn’t it easier to get 10 customers to spend $10,000, and target people that can truly afford this, then to hope you can find 100 brides at $1,000?

2. The affluent aren’t affected by the ups and downs.

When people reach a certain level of affluence, they rely less on one income source, and more on multiple sources. If one drops off or goes away, they have others that keep them stable while they replace it with something else. While they still may be cautious about spending, they know they can always afford what they truly want and love. [Read more…]