5 Ways To Sell To The Wealthy

We recently received an email from one of our readers asking us for help. As always, Career Ramblings tries to help in any way possible. This was Patricia’s email:

I am planning to sell extremely high end merchandise. My marketing materials will be designed to appeal to the “elite affluent market”…These individuals are not strangers to the most expensive hotels, private jet flight, and extremely high end concierge services. There are no “mailing lists for these individuals”. How do I place my marketing materials in the luxury hotels, in the private jets, gated communities, polo clubs, private clubs ? How do i get access to “the premium clients?” Your help in this matter would greatly be appreciated…I would be greatful for any info that your can provide.”

Ask and you shall receive! This isn’t a rare question. There are many advertisers or marketers looking to sell products and services to wealthy people.

But the question that keeps coming up is, “How do I get access to the rich?” Unfortunately, that’s a question that has no direct answer. But creativity leads to sales. Traditional methods of reaching this population will not work. The simple truth is that mass media reaches the masses far better than it targets the rich.

Few advertisers realize the degree to which wealthy people are insulated from the marketing efforts that target them. Who do you suppose is most likely to own a TiVo that allows them to fast-forward through TV commercials? Who is most likely to have a satellite radio and world class GPS in their car, along with state-of-the-art entertainment systems and a vast collection of commercial-free CDs? Who do you think has a secretary to screen their incoming calls and open their mail and throw away all the solicitation letters and invitations?

Having access to the “elite” is a tricky process. It takes thinking “outside the box”. To be able to reach the rich, you must learn to pull instead of push. Here’s how to do it:

1. Find the local hangouts. Familiarity is the product of repetitious proximity. Find out where the stars meet and go there often.

2. Become useful to them. If you can’t be where the rich and famous are, be in a position to do them favors.

3. Make your product or service visible to them. Sponsor local events put on by wealthy business people or better yet, try to speak at the events. If you want to place ads in print, be sure you target local newspapers in wealthy areas such as Beverly Hills or Malibu.

4. Use your web site to get accessability to the rich and famous. The importance of keywords in your product category can not be stressed enough. Find which phrases the rich will likely type into a search engine such as Google. Have you seeded these phrases throughout your web site (some call this process search engine optimization or SEO)? Think of your web site as a half step between the homes of the rich and your front door. How strong is the magnetism of your web site?

5. Pull, but don’t push. Wealthy people are constantly bombarded by advertisers who get anxious and nervous, thinking, “Now’s my big chance to make the sell.” Before you wet your pants trying to make the sell, patience is a virtue with this group. Come off confident, articulate your product or service efficiently and effectively. This only happens with practice. Practice your pitch in front of a mirror, friends or to an empty room. Working with this population isn’t easy, so you have to ask yourself if you are willing to do what it takes to persevere. It is often times just as much effort to sell to a wealthy individual as a middle class person, so why not focus your time on those with a higher spending budget.

Will you sell to the classes and live with the masses? Or will you sell to the masses and live with the classes? Being an entrepreneur requires you to be flexible and creative. If you have your own business and you want to reach the wealthy, keep these steps in mind to come out on top.

Sponsored by: ByWild Web Design

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