Understanding the advantages of marketing to the affluent and leveraging them throughout your promotional efforts is critical to business success. In addition to the huge monetary benefits (typically, ‘the affluent’ are defined as individuals earning income greater than $150,000 and with a combined $1 million in total assets), this market offers other rewards that must not be overlooked. Here’s an important one to be aware of.
The Affluent Are Exceedingly Loyal. Once the affluent consumer makes his choice
and as long as you continue to deliver value and exceptional customer
service, they are your client for the long term. Their time is money and they likely do not
want to spend it researching and trying other competitors who may not meet
expectations even if they come with a lower price tag. For this reason, it is critical to reward
your affluent customer on a regular basis.
And, because of their steadfast brand loyalty and conviction in their
choices, they will tell their friends and contacts over and over again about
you. Don’t miss out on the opportunity
to ask your affluent client for these sought after referrals so that you
may proactively market too them.
Converting a referral is MUCH easier than making a cold call.
Uplevel
your approach by reaching for the affluent today. Their loyalty adds value beyond just their
bank books.
Great post! Glad I have you on my team. Time to get the affluent clients and have them come back for more, and have them tell all their friends.
Posted by: Matthew Arndt | April 06, 2009 at 09:43 PM