Classify Households by Income and Spending

The desired outcome of any direct marketing program is to get the consumer to take a specific action… visit your website, purchase a product, join your rewards program.  In order to drive that action, marketers require an intimate knowledge of the consumer.  While there are many tools available to gain consumer insight, many of today’s marketers are missing a clear understanding of their customers’ and prospects’ actual income and spending levels.

Economic Spectrum offers a classification framework for marketers to differentiate customers and prospects based on how much actual income they have and how much they spend relative to their income group.

What Makes Economic Spectrum Different?

Most segmentation systems identify households based on standardized cuts of demographics. They generally create a high-end segment or set of segments with a $125K+ income range and tell you nothing valuable at all about spending. For example, they assume that households with more than $125K in income spend a lot and those with $75K and less don’t. Using income as a proxy for spending in this way is an inaccurate and insufficient approach that leaves too much to assumptions and guesswork.

Economic Spectrum gives you the most detailed, comprehensive, accurate and predictive economic yardstick available in the marketplace today. Economic Spectrum ranks and scores every U.S. household based on Echelon Marketing's proprietary measure of total income (both income from wages and income generated from invested assets) and discretionary spending. The resulting framework features 17 distinct classes that empower marketers to create highly differentiated, economically-based customer and prospect treatment groups.

How it’s Built—A Simple Formula that Yields Powerful Results

Economic Spectrum household-based classification is truly unique:

• Start with Echelon’s unmatched wealth information derived from multiple sources including summary factors produced from IXI™ Corporation's proprietary database of consumer investable assets. Add Income360—the first and only household income model that is virtually uncapped up to $2.0 million.
• Complete with Discretionary Spending Dollars, our modeled household dollar amount of discretionary spending that provides estimates up to $1.2 million per household.

We’ve combined this powerful proprietary data and best-in-class solutions with our world-class modeling and analytics capabilities to deliver a wealth-based household classification system that can help you understand with unprecedented accuracy the incomes of your customers and prospects and how much they spend relative to their peers.

Get Started Today

Economic Spectrum works effectively alongside other Echelon products and is easy to implement and begin using right away. Contact us today to get started.