Marketing to different economic audience classes – All you need to know

Are you a marketer? Do you struggle to identify what your target audience needs and how to advertise to them effectively? Well, look no further! In this blog, we cover it all – from how to market successfully to who to market to, we got you! So, keep on reading to learn all about how you can make it big in the marketing world. 

As a marketer, one of the most important parts of your job is to identify the target audience, figure out their needs, identify the gaps between their needs, how to cover them, and how your product will not only fulfill their needs but also benefit them efficiently. 

Now, all of this might sound like meticulous work, but half of your job is done once you figure out who your target audience group is. To do this, you first need to identify your product and which social class or audience class it sells to. There are three main audience classes: low-income, middle class, and wealthy. These audience classes are distinguished because the products marketed to them are different. For example, a person from the poor audience class probably won’t buy a luxury handbag but an individual from the rich audience class might. It all comes down to your target audience’s needs, their financial status, your product, and how it might improve their quality of life. 

Marketing to lower-income audience class 

Marketing to lower-income households and individuals is no child’s play; however, it is a trick you can master. The first thing you need to remember is to avoid lower-income stereotypes at all costs since they can come off as dehumanizing, condescending, or even offensive. Instead of the cost of the product or service, lower income audiences tend to focus on the longevity and stability of the product. Similarly, when it comes to price, they like to look at the whole package deal instead of individual items. So, make sure that you have packaged deals available for lower-income households. 

Additionally, you need to be aware of where your consumers are. To explain, low-income individuals spend a lot of their time online. So, it is a no-brainer that you need to advertise online and also have your service/product available to order online. Moreover, focus on the benefits of your product before you focus on the price. Explain to the consumers WHY your product is just as good as the high-quality one at a better price. 

Marketing to a middle-class audience 

When it comes to the middle or working class, what you need to know as a marketer is that they make up a significant portion of the population. As a result, the products that are marketed to this group can make them feel like just a statistic or just another customer. So, when you market to this group, it is super beneficial to add a personal touch. Moreover, it is important to remember that this group will pay extra if they think that there is more value to the product or service. Apart from this, good customer service plays a vital role in this group. Customer service plays a huge part in their shopping experience so if you are trying to build a recurring consumer base or regular customers, make sure that the consumers feel cared for, and NEVER forget to promote yourself and your products/services on social media. 

Marketing to a rich audience 

The key to marketing to a rich audience class is not to focus on the needs but the wants of the individual or the group. The wealthy respect tradition and things that have been around for awhile. As a marketer who markets to this audience, you need to be the best at what you do and have a solidified brand. You should also use language carefully and have a graceful yet easy-to-understand dialect in your marketing campaigns. 

Since you’ll be marketing to a wealthy audience, it is a good option to go global. Wealth is spread all over the world. So, make sure that your product/service does the same. Your product/service also needs to focus on what they stand for and needs to be of the highest quality. Wealthy people go above and beyond to make sure you have the credentials for what you do. So, make sure that you work hard and make it clear that you do. 

It is also a great idea to keep networking as a marketer since that is how the wealthy audience makes connections. You can use these opportunities to not only promote your product but also get a chance to identify the wants of your client base up close and personal.

And these are just some of the things you need to keep in mind when you market to different audience economic classes! Whether you market to lower-income, middle-class, or rich audiences, at MyMarketingPass, we help you with it ALL! Our team of expert writers, designers, and more will help your product reach new horizons. 

So, are you ready to receive the marketing service of a lifetime? Let’s talk at: https://mymarketingpass.com/