Top grossing entrepreneurs are those who are highly effective at integrating all aspects of their business--from customer service and administration to business strategies and marketing activities. Of all the necessary elements of a successful business, marketing may stand heads above the others, because it needs to be consistent. Whether sales are up or sales are down, marketing must go on….especially, if you are marketing to the affluent.
The "P"s of the marketing mix form the core of your marketing strategy. Let's start with the first “P” you must know to effectively market to the affluent, a critical recession-proof target that values your expertise, is willing to pay premium prices and grows your business by referring you to all their friends and contacts.
“P” for People:
Who specifically are you targeting? Are they affluent, mass affluent,
ultra affluent? What are their likes? Dislikes? What is
important to them? Do they have a specific passion for golf? Travel?
Spas? What will they value and be willing to pay premium prices for?
You must be able to write a clear and distinct profile of who this person
is in order for you to be able to effectively market to them.
Marketing is especially challenging in
the service profession where your product is often "intangible."
Therefore it is particularly crucial to establish a relationship with
your customers and communicate clearly and consistently the value your
services offer to them using the "P"s of marketing.
Comments