There’s a Reason Why These People Are in Debt

True or false: Marketers should focus on selling their wares to people who have lots of money. And the answer is: They’ll have better luck selling to those who owe lots of money. A Yankelovich Partners survey finds 52 percent of respondents agreeing with the statement, ‘I strongly feel the need to reduce my debt level.’ But further polling finds these Debtors (as Yankelovich terms them in a Monitor Minute fax about the survey) are more apt than non-Debtors to say they’re ‘willing to spend more to get ‘the best’ even if ‘the best’ is not widely recognized by most people.’ Debtors are also keen on good service, with that cohort more likely than non-Debtors in all age groups to say they’d pay as much as 10 percent more for some of the things they buy ‘if I were guaranteed better service.’

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