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Tuesday Morning Coffee

Tuesday Morning Coffee

VITAL Questions # 63

Posted on June 3, 2015 at 12:55 AM

Can Yours Be A Luxury Brand?

[Hint: It Should Be]

 

All CI companies live on their ability to grow sales via the network of people with whom they already have a relationship. This includes their past clients, friends and family, and any builders/architects/designers and other strategic partners in their “circle of awareness”. Rare is the CI whose name is well-known beyond the clients and partners with whom they have dealt with in the past.

 

This is why a CI’s customer list is the most important marketing asset they have. Many, if not most of the clients on this list, rank among the “top 1%” of income earners in the US ($380K+ annual income). This helps them afford numerous luxuries beyond their 5-digit $ home theater. They travel, belong to country clubs, frequent fine restaurants, wear high-priced watches and exotic shoes, and drive the best cars. Their expectations are different than those of Middle America. They seek and support brands with a luxury cachet.

 

CI’s should aspire to be one of those brands. Website and communications should be shaped for the desires and tastes of the wealthy. Regardless of whether the business owner(s) enjoy their own “top 1%” lifestyle, the company should be seeking to develop a reputation that its wealthy clients can enthusiastically share with their wealthy friends.

 

This cannot be achieved quickly, or broadly. It requires relevant and regular messaging to the people who will be most receptive to your brand’s story, and most likely to act on it.

 

Most established CI’s have a list of 500-2000 millionaires with whom they’ve already established a degree of trust. Next time, we’ll talk about how you can reach them, and nurture them, with the story of your brand.

 


Categories: VITAL QUESTIONS

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