Invite People with Money to Spend with You

  • There’s an old saying that the reason bank robbers rob banks is because that’s where the money is. While that may have been true in the last century, it’s not true anymore.

    What is still true and a more honest way to make money is to invite people who have money to spend, to spend it with you and your business.

    Generally speaking, my generation has both the money and the need to spend money.  I’m talking about the grownups that are age 50 plus.

    I was reading another article about this, I see them on a regular basis.  Here’s a quote from Jacobs Media on the subject:

    Logic suggest that advertisers and marketers are smart enough to connect the dots, and realize that today’s 50+ consumers are the most reliable – and have the most money.  And every year, prognosticators (I was once one of them) maintain that as Baby Boomers age, their marketing strengths will become in vogue once again.

    My wife and I have 5 adult kids from previous marriages, and that has led to a crop of 9 grandkids.

    Right now, I have more disposable income than most of our kids.  While they are saddled with college debt, the expenses of a growing family and all the stuff my wife and I went through when we were their age, we are on the other side of those financial burdens.

    We are also making home improvement upgrades to the house we bought a few years ago.  We continue to purchase cars and you know what else?  We are planning on a few trips in the years ahead.

    We are also helping out our kids financially on occasion and that includes the grandkids too.  Recently one of my kids asked for a help to cover some expenses and I was able to ask how much and with the convenience of PayPal  take care of it right away.

    That’s part of my story as a Baby Boomer.  Baby Boomers for a long time were the sought after generation for marketers because of the size of our generation, the biggest in human history.  We were the original Pepsi Generation among other things.

    Baby Boomers with money to spend are also the primary audience of WOWO radio.  WOWO is a news talk radio station that is over 90 years old and as I continue to look at the research and hear the success stories from our advertising partners, I see that my wife and I are not alone in our spending habits.

    I was talking with the marketing person at a dentist’s office the other day and discussed what forms of advertising and marketing they had done in the past and what worked best and heard the same thing that I hear over and over again.

    Two of the highlights are:

    1. When we run specials on Groupon, we get new patients but they don’t stick around.  In other words, they are getting people who are price shoppers and they are very fickle.
    2. We really would like to do full mouth restorations.  We get a lot of satisfaction from changing a persons life and giving both a healthier life physically and emotionally.

    So, apparently they have been inviting people to become one-visit patients based solely on price which is the opposite of their ideal patient in terms of the satisfaction they get as a dentist office.

    Wouldn’t it make more sense to invite the people you really want to help and that will establish a long term relationship with you and even tell others about you and refer their friends and family to you?

    The answer is yes.  Invite People with Money to Spend with You.

    Seems pretty basic, right?

    Sometimes marketing and advertising is not as complicated as it might seem.

    I blame the advertising sales people who either have been taught all wrong or just don’t care to keep it simple.

    My job is to really dig in and help your business grow with the right kinds of customers, the customers that you want more of, the customers that appreciate you and value you.

    Like I said at the beginning of this, I can help you invite WOWO radio listeners who have money to spend to spend it with you.  Want to know more?  Let’s meet.

    Originally published at: https://www.scotthoward.me/invite-people-with-money-to-spend-with-you/

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