Discover MarTech (Virtual): Available On-Demand. Decide exactly who you want as a customer—notably, deciding on the level of income, net worth, overall affluence… ANY SALES-MINDED entrepreneur may notice that your company’s gross revenue tends to equate to the average gross revenue of the companies or individuals with which you do business. PR and product placement, advertorials are all effective ways of reaching the wealthy. December 29, 2018. If affluent prospects are incentivized through a suitable quid pro quo to give you their information online, you can give them the same treatment as when they roll up in a nice sports car “dressed to the nines.”. Finding this niche client on AdWords may seem daunting. Create a healthy referral program and promote that. One thing that PPC management firm Webrageous does is provide their prospective clients with a free PPC audit after filling in a detailed submission form. While this has worked for a long time, and will obviously continue to work, many high-net-worth consumers (who most likely also own or run businesses) must be treated differently when it comes to marketing with social media. Spreading your marketing efforts out too broadly will dilute the results. Guttulus teaches digital marketing to businesses In order to find out how businesses can best target their online marketing efforts to the rich, the Luxury Institute went directly to wealthy consumers and asked them about their internet habits and what turns them on -- and turns them off -- when they browse the web. Normal targeting won’t work. Wealthy individuals remain the most highly sought after clients for financial advisers. Big clients. Instead of targeting a home buyer, you should target real estate agents who deal with wealthy individuals. Not only do we want to do this to help a client feel comfortable choosing us we almost insist on it and would be uncomfortable taking on a client if we didn’t know we could improve their results.”. © 2020 Third Door Media, Inc. All rights reserved. We expect the rich to spend money differently than the rest of us, and yet although they have greater potential spending power, many High-Net-Worth Individuals… You know, under the table money. Videos explaining why your client’s product is different and therefore more expensive are perfect. Wealthy people can be easier to convert to sales than people with an average income because they have less budgetary constraints and can simply purchase anything they like the look of without having to count their pennies. *As a side note, lower quality videos won’t work at all. These steps can lead to customer loyalty and lucrative repeat sales. Wealthy people want to know that you have good business values and will be around for some time. Attract influencers and not end clients. And use video to explain why your Tibetan Rug is better than Walmart’s. Twitter and Facebook are good for this sort of thing, since you can make very specific calls-to-action that entice the high-net-worth individuals to respond. Feel free to jump in and share as well. The same with homes. Have something to say about this article? However, rich people also demand the very best, and will usually be quite discerning about where they spend their money. These range from cars to rugs to homes and everything in between. Tell them what to do next on every page of … Schroders opens Miami office to target wealthy clients. According to the previous Google study, 45% of luxury buyers prefer to watch videos of products and how they are used or worn. And video. Think about it: Getting mentioned in the local paper in the Hamptons will probably do you far more good than a blurb in The New York Times. 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