Learn the Secret of Marketing to the Affluent
You most likely have had this experience.
You go to a store or a trade show with the objective of purchasing something. You present yourself as a ready, willing, and able buyer.
You make it real clear that price was not the key concern yet the sales person was busy selling features and functions of the product and the product’s price. They made no attempt at presenting themselves as the go-to guy or gal.
What you most likely noticed in this type of exchange is that there is no differentiation of their offering; they focus on price.
The thing most marketers and sales people fail to get about affluent clients or customers is that they are, by and large, NOT interested in learning a lot of technical information about WHAT they are going to buy.
Do you know that a very significant percentage of the affluent population pulled themselves up by their bootstraps … they have gone from poor to rich.
Many came from stark or relative poverty, or other difficult circumstances, and are still very much governed by having been poor. They never disconnect emotionally from this past no matter how successful and wealthy they become.
As an example, Walt Disney was once driving from Disneyland to his home when he saw and stopped briefly to admire a particular new car in a showroom window.
While driving home from the showroom, he said aloud to himself “Gee, I wish I could afford one of those.”
It was a half hour later that it occurred to him … “Hey, I can afford that” … so he turned around and drove back to the dealership and bought himself that car.
This reveals a little something about the self-made affluent … while most have unrestricted spending power they are in reality, conflicted about money. They battle guilt, fear, anxiety, and abhor waste.
However, as an Internet Marketing entrepreneur, you may very well find your best customers or clients in the segment of the economy that is comprised of the affluent self-made business owners and entrepreneurs so it is a good idea to learn the secrets of marketing to the affluent.
The personality of the affluent is sharply drawn, with little ambiguity, so they can be the easiest of all to market a wide variety of goods and services to … however you need to understand their profile.
Their profile is comprised of three parts.
First, they are fiercely independent and will not take no for an answer.
Second, they are great admirers of the qualities that got them where they are and if they admire you, they will reward your with their business.
Third, they are searching for value as they define it. They know the value of a dollar and tend to pride themselves on being smart about money and getting good deals.
Examples of this profile include: Donald Trump who bought his oceanfront manor as a bargain during a foreclosure proceedings and recouped his investment by selling all the antiques, antique furniture, and art that came with it and replacing the items with reproductions; the late Sam Walton who drove old pickup trucks; and Warren Buffet who buys his suits off-the-rack, his winter coats in the summer, and brings his lunch to work in a brown paper bag.
What is key to know about selling to the affluent is that their buying behavior is driven by emotions, known as the E-factors and then justified, if necessary, after the fact with logic.
Several of the E-factors include insecurity, fear of being thought of as takers, pride, love, guilt, and greed.
You can profit significantly by giving serious though in how you present your products and services so they are in sync with these E-factors of the affluent.
Many business people have a hard time in terms of selling to affluent clients. They need to learn they only need to provide enough information about how a product works to satisfy a buyer’s curiosity and to reassure them that you are the most knowledgeable resource about the product they are interested in obtaining.
Most affluent buyers are not in the hunt for in-depth technical product knowledge; they are in search of the go-to guy who they can trust to make the best decisions and prescribe the best solutions for them.
It takes a while but many Internet Marketing entrepreneurs learn the secret of Marketing to the Affluent. They learn to identify their target market with keyword research and keyword research tools as they know they can not guess what the market desires; they know their WHO.
To accomplish this, they use various methods, tools, and follow a traffic formula to build relationships with their leads and customers. They build websites that create trust. They collect name and email addresses using an Optin form on a Landing Page. They use email systems with both auto-responders and broadcast capabilities in order to send messages to their leads and customers. These email messages frequently send information, provide knowledge, and occasionally promote an offering. Many Internet Marketing entrepreneurs learn that leads and customers do not like to be sold to however they will browse and shop. Over an extended period of time, skilled Internet Marketers are able to use hypnotic writing skills, in their marketing campaigns, to get leads and customers to take the action they want. This is how they learn to identify a target market, to stay focused, and to add value to their target market. They learn to leverage the equity in their list and be successful in the world that includes Marketing to the Affluent.
It looks easy but marketing is not a game for amateurs. Marketing is not just a battle of products. It is all about the strategy you use to benefit from Marketing to the Affluent.
I trust you enjoyed the article; let me know what you think of it!