How To Target Hard to Reach HNW People and Groups
May 28, 2019
Groups & People such as HNW (High Net Worth) Individuals and Very Niche Audience Profiles Can Be Hard to Reach by Normal Targeting and Profiling Methods. But There Are Simple Ways to Reach Them as Explained Below.
No Man Is An Island wrote John Donne. And its true. Whatever audience profile you are seeking someone has already done the hard work and produced a list of them. Of course these days it isn’t possible, due to GDPR, to buy a list in Europe. But there are ways in which you can legitimately tap into the lists that others own. It just needs a little Advanced Thinking.
Marketing Lessons From Photographers
The Wedding Industry is huge and very lucrative. In the UK the average wedding costs an eye watering £30,000 according to the MoneySavingExpert website. That means there is a lot of competition from all sorts of people including venues, florists, photographers and a host of new businesses that supply everything from cakes to chair coverings.
So, how can you tap into this lucrative market when competition is high and lists hard to source? Well, ypu could advertise to recently engaged females on Facebook but that is going to cost you. You could attend the thousands of Wedding Fairs that take place each year. And that is going to cost you as well.
Here’s what a photographer friend does. He runs joint ventures with other people serving the same sector. When he gets an enquiry through his website he offers access to everyone from the venue hire guys and florists to those supplying chair swags. And vice versa. When a venue gets an enquiry he is their recommended photographer.
And when it comes to Wedding Fairs the cost is borne by all the businesses and its possible to get everything on their One Stop Shop stand.
They even have a joint website and joint social media accounts as well as running their own independent marketing.
Hitting The HNW Individuals
It’s nigh on impossible to successfully target HNW people on Facebook (though anything is possible given the will and enough cash!). So how can you use the Photographers Method for HNW people. You’ve probably already profiled them and know where they hang out, what they read, wear, drink and where they shop. Plus a lot more.
And if you want to learn more about Customer Profiling watch the tiger and woodpecker in the following video.
Knowing your audience (like Sun Tzu knew himself and his enemy) its now quite easy to look for joint venture partners in the same way as the wedding photographers do.
Think first about who will already have a list of HNW individuals. If you are searching for niche HNW people, perhaps those that want to improve their golf, its actually a bit easier. Banks often run golfing days for clients. Target the right event and the attendees will be HNW. Go to the more exclusive golf clubs, where the fees are eye watering, and the members will be HNW. Find the right golf pro and they know the HNW group.
None of the above are foolproof but each has merit. Maybe none will work for you so think about who else has a HNW list. Insurers, car salerooms, wine merchants, stockbrokers, FX houses, boat insurers …. the list goes on and on. And the list owners will undoubtedly know which of their clients are into golf. Find a way to work with them. It might be demos, talks, etc there will always be a way to tap into someone list. And once the intro is made the trick is to get them onto your list.
Intent Beats Profiling
Just finding someone that is HNW worth and a golfer isn’t quite enough. Lots of golfers spend considerable sums on equipment but nothing on themselves. So, if you are selling coaching of some sort rather than equipment you need to tap into their mindset and intent. That mean using the right language in your promotions. Look for those that want to improve their game via mindset rather than gear. The words to use are something I’ll cover in a future post.
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