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Marketing to Wealthy Consumers - 3 Marketing Strategies That Work

Written by: Russell Webb

Article Overview: Marketing your products and services to wealthy consumers doesn't have to be a mystery. Do you have a service that attracts these wealthy buyers? Does your product have the built-in quality factor that this demographic desires? Will your service make them look good?

Marketing to Wealthy Consumers - 3 Marketing Strategies That Work

Marketing your products and services to wealthy consumers doesn't have to be a mystery. Do you have a service that attracts these wealthy buyers? Does your product have the built-in quality factor that this demographic desires? Will your service make them look good?

Here's a peek into the top three strategies that will get you in the door to some of the wealthiest homes.

1) Be the Expert on the type of product you are selling. You do this by learning all you can about your products, your competitors products and your market. You write articles, speak at functions, and share WHY your product has the exclusive edge. Give your prospects information that convinces them they are getting the best.

3) Do your research. Get a map of your targeted area. Example: Identify a neighborhood that meets your criteria. Pin a map on your wall and visualize a few sales resulting from your efforts. Acquire a reverse directory from your local phone company. You'll find listings by street, instead of by phone number. Create a marketing campaign using personalized messages via postcard, letter or even FedEx (this will get their attention!) letters. Send a few unique mailers. Stick with it. You're establishing your expertise and it will take some repeat exposures. Don't be afraid to be unique in order to stand out from your competition. Keep pushing, but don't pull!

3 ) Make a commitment to over-deliver on your services. Focus on quality. Mercedes and BMW have established their automobiles as top tier products because of their commitment to quality and outstanding service. Consider stretching your service beyond the normal boundaries. Do you think you might get a few extra referrals if you arrived at your clients property dressed for success, even though you're installing a simple light fixture? You bet you would. What if you asked the client if you can remove your coat before getting started? This respect and courtesy is a simple example of over-delivering on your service.

As you expand your influence as an expert, you will find that you attract more referrals. From my experience, I see several advantages with dealing with this wealthy client base:

-It's easier to close the deal

-Price isn't a big issue

-You get paid in full

-They're intelligent buyers

-Good quality referrals

Yes, there are many other creative strategies to get your foot in the door with this robust market segment. I'm simply sharing a brief introduction that includes the right mindset for dealing with these clients.

Let's do a quick recap: You boost your credibility by becoming the expert in your field. By researching your target areas, you give yourself an opportunity to visualize successful outcomes. You can start small with by leasing a reverse directory and send out highly targeted niche mailers that get noticed. Lastly, try to stretch your service beyond the normal boundaries by over-delivering an excellent quality product.

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Article Tags: automobiles, bmw, boundaries, desires, exposures, fedex, light fixture, local phone company, mailers, marketing campaign, mercedes, neighborhood, outstanding service, peek, phone number, postcard, prospects, quality factor, referrals, reverse directory



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