Becoming one of the “acceptable” people the wealthy will do business with
Mark Satterfield
Specialists in the art of marketing to the affluent and high-net-worth clients
My Great Aunt Caroline was a bit of a snob.
While barriers have broken down somewhat over the years, there are still certain brands, certain neighborhoods, certain designers, certain advisors, certain fill-in-the-blanks, that the affluent gravitate toward.?
Thus our goal is to become one of the “certains.”?
It’s important to keep in mind that this tribal herding around certain providers, is driven by insecurity, as much as anything else. The rich, especially those that are suddenly wealthy due to a liquidity event of some sort, have a strong desire to be accepted by their new peer group. They want to make the safe choice.?
It’s our job as marketers to position our products and services in a way that resonates with that desire.
They worry about things such as their children’s education and wellbeing, their own inevitable aging, and being left behind. Also, although you might not guess it, they are often concerned about being perceived as fakes, or about not being recognized for their success.
Flipping this around, one of the most positive traits about the rich is that they are most often intensely curious, particularly about people. Many younger professionals worry that they won’t have anything interesting to say to someone who is significantly older or wealthier than they are. They worry that they have nothing in common, and that may be true, but it misses the point.?
If they find you interesting, they will take you into their group. One of the keys to being interesting is being a good conversationalist, and the secret to being a good conversationalist is simply to ask good questions. I’ve got some great ones I plan on sharing with you.
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More than anything else, the rich love being rich. While they share many similarities with all of us, there are distinctions that make them unique.
So how do we use this in our marketing?
Glad you asked.
I discuss this in great detail beginning on Chapter 4.1 of my 9th and newest book The Affluent Marketing Blueprint.
I’m running a limited time promotion for a free copy of the book (just help me out with S&H) and it’s something that I really think you should take advantage of.
Get your copy HERE
Onward!
Mark