Photo Photo by George Bakos on Unsplash

What propels people to open their wallets and part with their hard-earned cash? Whether it’s the allure of exclusivity, a foundation of trust, shared values, or the pursuit of personal growth, if you want to make money in business, you need to provide a product or service people are willing to spend money on. 

Spending patterns might vary person to person, but even in a world fueled by diverse ambitions, people still tend to funnel their resources into five fundamental dimensions of spending: 

• Money
• Health
• Relationships
• Time
• Identity. 

This blog is the playbook that empowers business leaders to put your message where the money is and align your offers with the aspirations behind where and why people spend the way they do.

Wealth Tactics: Mastering Financial Frontiers

The pursuit of financial freedom is one of the predominant driving factors behind spending in this category. In today’s economy, companies that go beyond traditional financial services emerge as pivotal players in the financial field who become treasured allies in income growth and wealth diversification.

The strategic imperative isn’t just about making money; it’s about recognizing the multifaceted nature of financial aspirations and providing comprehensive solutions that go beyond transactions to create measurable results.

Health Investments: Fueling Wellness Economics

In 2022, the cumulative revenue of the fitness, health, and gym club industry in the United States was approximately 30.6 billion U.S. dollars.

Businesses contributing to a healthier lifestyle, whether through fitness solutions, wellness programs, or nutritional guidance, tap into a significant spending stream. Here, the key is aligning with aspirations for better health, offering not just products or services but a lived experience of well-being.

Relational Strategies: Building Bonds Beyond Transactions

From dating apps to family-oriented services, businesses that enrich relationships find resonance – and revenue. Spending here isn’t just monetary; it’s an investment in emotional and social capital that is meeting a deep psychological need for connection.

High-performing business leaders understand the value of fostering meaningful connections. Companies that make a name for themselves in this dimension offer more than just products or a virtual platform—they provide pathways to building authentic, enduring relationships.

Time Optimization: The Currency of Efficiency

Efficiency is a high-value proposition in today’s fast-paced world. Businesses offering time-saving solutions, productivity enhancements, or streamlined processes create demographic-crossing connections with folks who value time as a precious commodity. 

For example, the high-performing business owners who are my Catapult clients work 33% fewer hours by the end of our nine-month engagement. That adds up to almost an extra day each week – and over a thousand hours annually.

What could you do with a thousand more hours a year?

Leveraging this intersection of personal and professional possibilities, the focus is on presenting time as a finite but malleable asset that can be optimized for greater achievement and enjoyment.

Identity Blueprint: Prioritizing Personal Narratives

Personal development, self-expression, and identity-building services constitute a unique category where companies contribute directly and explicitly to shaping individual narratives. 

Spending in this realm isn’t just about products or brand association; it’s about investing in the construction of a narrative that aligns with – and amplifies – your client’s self-perception, ambitions, and values.

Speaking to Aspirations: Putting Your Message Where the Money Is

Crafting a compelling narrative isn’t about a one-size-fits-all approach. 

Marketing should delve deeper. Understanding and strategically aligning your business with the diverse spending aspirations of your audience opens doors to untapped opportunities. Reflect on how your products address financial concerns, enrich health, nurture relationships, value time, and contribute to shaping identity. By applying these lenses, you position yourself to identify and act on existing opportunities, becoming not just a provider, but a partner in your client’s journey.

When you shift your perspective, what opportunities stand out from your new vantage point?

What benefits already exist, but aren’t included in the stories you tell?

How can you align your offers to speak to a diversity of personal aspirations and professional ambitions?