Marketing and selling to the affluent?

in On Entrepreneurship

One of the groups I’m most often asked about marketing to is the affluent.

Regardless of what you might have been told or seen on the nightly news, this segment of the population still has money to spend, is the last group to be impacted by economic turmoil, and they are still spending money today.

But there is a catch.

The way the affluent are spending money today is different then how things were just a few years ago.

To be perfectly clear — they are still spending, but they are spending differently.

If you are currently marketing to the affluent and want to continue, or want to expand your business to the affluent, paying attention to how things are changing is critical.

Which brings me to perspective.

You see, one of the things I do whenever I develop a new marketing campaign is to search for and understand Perspectives.

Let me explain what I mean…

I grew up in a lower middle class neighborhood outside of Baltimore.

Baltimore is a blue-collar town. And even when my own economic situation moved beyond lower middle class, my perspective on the world is still heavily imprinted by growing up “Rosanne-style.”

It always will be.

That doesn’t mean I can’t understand, market to, or appeal to people who have never known what it is like to stretch a dollar to get something to eat. I can, do, and if I may be so modest … will say I am exceptionally good at it.

It does mean that, as a professional marketer, I have to be aware of my own biases and seek out people and experiences that help me to understand and appeal to people who have had different experiences than my own.

In case you missed that “writer-downer” …

**If you plan to market to more than just yourself, it is critical that you do what it takes to understand your customer in a very deep and profound way.**

In fact, many marketing failures can be traced right back to skipping over that step.

Last November, I met someone whose youth couldn’t have been more different than my own.

She grew up with private planes and vacation homes.

Disposable income was a given.

Financial security always present.

And that has carried right through her adult life.

She “gets” what it is to live like that, and what it takes to appeal to people like her.

And, it turns out, she has dedicated her razor-sharp mind to helping other business owners learn *exactly* what it takes to develop, market and sell products and services to the affluent consumer.

Her name is Kelly O’Neil.

A few weeks ago she interviewed me about using remote presentations — teleseminars, webinars and videos — to market to the affluent. Among other things, we talked about how one of my students generated more than $3 million dollars with a single teleseminar to affluent consumers.

That interview is now part of something she calls, “Marketing to Millionaire’s University.”

For the next few days, Kelly is giving me the chance to pass on a VIP Preview Invitation to look into the program *and* get an amazingly generous 25% discount coupon should you decide to invest in any of the courses.

The catch? It is only good until Midnight, Pacific time, Saturday, October 31st.

So, let me make this simple.

If you are or are considering marketing to the affluent, you need to look into what Kelly has to offer.

Here’s the code for your 25% off discount (good only until the 31st): M2MEJV09

Now, click here to go to Marketing to Millionaire’s University.

If you have been following me for any period of time you know that I rarely if ever recommend someone. That above is an affiliate link, but if you’d rather visit without me getting credit, feel free — here’s the normal url.

Thank me later.

Be well,
Michael Cage

{ 11 comments… read them below or add one }

1 danielle April 24, 2011 at 3:28 am

Hi I was so excited about your article and your expert then I began reading and then disappointed. I’ve been marketing wealth management services solutions for over ten years I was fortunate enough to grow up with access to private jets but while I still had to do chores and work through college to establish a “work ethic”. I learned from both life styles and have worked with thousands of mass affluent and high net worth there’s a world difference marketing to a client /prospect with $2m in liquid investable assett versus $10mm or even $25m the difference is that you sell exclusivity toi the mass affluent (2m) the more money they have the more they want to be just like everyone else approach in a way. they want to feel confident whether buying a home or changing portfolio managers that you understand the complexity of theIr requirements and that a customizable option will be available they want to know you are one of them.

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2 Anonymous June 1, 2010 at 8:02 am

Success of marketing depends on selling, Thanks.

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3 Mohamed February 6, 2010 at 12:06 am

Gooooooooooooooooooood Thank's

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4 billy January 27, 2010 at 8:25 am

nice post… and thanks for the discount code…

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5 Anonymous January 15, 2010 at 10:45 am

Your point on perspective is well taken. I only know one really successful entrepreneur personally. Thinking back, I realize that he was constantly asking others for their perspective based on whatever market segment his current product was geared at.

I hadn’t thought of that behavior for a while, but now that you mention it seems like quite an important step in the product marketing process.

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6 Denver SEO Solutions January 13, 2010 at 4:36 pm

Good insight into marketing to others outside of your zone. Your absolutely correct, proper research can help your marketing campaign tremendously.

Domenick

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7 Anonymous December 29, 2009 at 5:43 pm

Damn man! “$3 million dollars with a single teleseminar to affluent consumers.”

Marketing to any group is fundamentally the same, you just need to do proper market research and find out the best channels to get to your target audience.

Thanks for a very insightful article.

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8 markus777 December 24, 2009 at 4:20 pm

It's too late for me… I could use your discount code

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9 Bobby2 December 18, 2009 at 4:33 pm

Sorry I missed this post.
I haven't been following you, but I surely will now.

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10 Anonymous November 18, 2009 at 6:02 pm

The affluent seem to require a different formula for stating the “value” of the proposition. As opposed to consumable goods marketing, affluent customers seem to be heavily feature and quality oriented and less likely to make a quick decision.

Interesting post!
Thanks!
MAS

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11 steve November 2, 2009 at 9:30 pm

####### advertisement.

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