What is Income Targeting?

Income targeting is a strategic move in marketing where you cater to an audience based on their income levels.

This strategy is best for those products or services that require a certain income threshold to afford. Over time, marketers began to understand that targeting everyone was wasteful. Instead, they found it was more effective to filter the audience by their likelihood to buy the product. This brought about the concept of income targeting.

The main aim of income targeting is to sharpen your focus on the people most likely to become customers. When you factor in income, you ensure that your potential audience has the financial capability to purchase what you're selling. For traffic-based campaigns, it guarantees that the people clicking on your ads and visiting your website are not just curious, but are also financially qualified.

Examples of Income Targeting

  1. Luxury Car Dealerships: Targeting high-income individuals who can afford a premium vehicle.
  2. Real Estate: Promote high-end homes to those in a specific income bracket that can afford these types of properties.
  3. Gourmet Food Businesses: Advertize to foodies with higher disposable income who are known to invest more in unique gastronomic experiences.
  4. High-end Fashion Brands: Directly market to individuals with a certain income, who can afford designer clothes, shoes, and accessories.
  5. Premium Travel Agencies: Focus on high net-worth individuals who have the capacity to spend on luxury vacation packages.

Marketing Tactics Similar to Income Targeting

Demographic Targeting: This involves promoting your product or service to a specific demographic based on factors like age, gender, employment status, or education level.

Behavioral Targeting: It's a strategy where marketers target users based on their past behavior on a website or app, like making a purchase, filling out a form, or visiting a specific page.

Geographic Targeting: This is the practice of delivering different content or advertisements to consumers based on their geographic locations.

Psychographic Targeting: In this method, marketers focus on consumers' personality traits, values, attitudes, interests, or lifestyles to optimize their campaigns.

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