Targeting the rich

Fairfax Media

FOCUSED EFFORTS: Credit provider Veda Advantage is promoting a product, called WealthBase, for marketers wanting to target the country's wealthiest investors.

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Avoiding the attention of the marketing profession looks to have just become more difficult for this country's wealthiest citizens.

Credit information provider Veda Advantage and database specialist Baton are today promoting a product, called WealthBase, for marketers wanting to target the country's wealthiest investors.

"WealthBase's segmentation approach gives marketers previously unavailable access to invaluable information about the country's wealthiest investors and consumers," Nick Foster of Veda Advantage Solutions Group said.

The country's most affluent households are defined in three tiers -- first and foremost by behaviours, then land and other asset holdings and finally "geodemographic" composition. Geodemography is the attribution of demographic characteristics to a group of individuals living in the same area.

The three WealthBase segment descriptions are:

Affluent Investors -- the wealthiest individuals living in the country's most prestigious areas.

Aspiring Investors -- a broader range of individuals at different wealth stages that coincide with life stage.

Safe Haven Investors -- who have a range of investments, with a high likelihood of investing in shares and more likely to invest in property.

WealthBase was modelled on the investment behaviours and asset holdings, including equities, land and vehicles, of the country's top 15,000 investors, Veda said. It encompassed the wealthiest 10 percent of households.

NZPA