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Does knowing that 1% of people own 99% of the wealth affect your marketing strategies, pricing, etc?
By
Di Ry
August 2, 2018
Just wondering if anyone is targeting that 1% somehow.
You have $10k in wealth, you're in the top 30% of the world. You have $100k, top 8.6%. >$1M, top 1%.
Top 1% has 45.9% of wealth, not 99%. The 7.9% below that has 39.7% of wealth.
That "the 1%" message people keep sharing is stupid, they're completely oblivious to the fact they themselves are either in the top 30% of the world, or the top 8.6%, just because they live in a first world country.
What percentile are you in if you have $0 of wealth (including debt)?
I don't have any source to give you an exact answer right now, but:
Although the last one is the closest to being an answer, I've heard numbers in the past that were higher, but that's anecdotal so feel free to ignore it.
you're right I didn't check these facts but they don't change the core message
if we're talking top 10% instead of 1% it's still a low number and I was wondering if there are examples of ignoring the rest and focusing on 10%
That's what happens if you target a first world country. Or sell online and assume your target client will have:
10% of the world is ~765 million people. For reference, the US has a population of ~325M people.
There are at least ~60 countries in the world (out of ~176 w/ stats on this source, so 34%) where the average wage is below $500 (and the average is a bad statistic because of corruption and income inequality), so paying for a $99/mo SaaS isn't going to happen.
If you market western middle class you easily hit top 5%.