Income level is an important signal in developing your Ideal Customer Avatar because money equals ability to buy things.
Middle Class household income looks very different in New York City than Dallas, TX. If you’re targeting audiences across the USA because your product or service doesn’t have geographic constraints, you still need to understand income power where the customer lives.
Want to get nerdy with me?
The median HHI in the US is currently around $53,000 per year. Let’s round that up to $60,000 per year for a family of 4 and see what middle class household income looks like across 5 metro areas: Washington DC, Chicago, Dallas, Los Angeles and Honolulu.
$60k Per Year In Household Income = Lower Income
$60k Per Year In Household Income = Middle Income
It’s Your Turn: Try The Income Tool
Want to try out this data tool for yourself? Visit the modeling tool from Pew Research Center page and enter your state and metro area along with the income and household size you’re targeting and see if the buying power you have in your head is the same as the customer’s reality.
If data crunching isn’t your thing, why not phone a friend and grab one of our free brainstorming calls? We have a handy self-scheduler right here, so you can choose a time that works for you!