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How to Attract Customers with Money to Spend

By: SmallBizClub


How to Attract Customers with Money to Spend

Attracting affluent customers is the dream of any business. Everybody wants to have rich clients, but not everybody does. You can’t attract wealthy clients with the same communication, offers and approach that you use for an average consumer.

In order to move from an average consumer to a more affluent audience, you need to tweak both your marketing and mindset. Keep in mind that you don’t have to be a big, successful business to be able to do this. Even small companies can attract wealthy clients, it’s all about the 4 tricks mentioned bellow.

Related Article: Effective Market Segmentation

Focus on the Value

No matter if the consumer is rich or not, he or she is still a consumer. What binds all consumers together is that they all have some kind of a need that they want to satisfy and some kind of a pain point that needs a solution. The difference between the average and wealthy consumers is in the value your company brings to them.

Find the value proposition that will truly resonate with wealthy people. Don’t focus on the price and discounts, wealthy people don’t care about those. Rather, focus on stuff that (to some extent) money can’t buy.

Can you help them save time? Can your product change their life for the better? Can your service help them make even more money? Find the right pain point and need to focus on, and provide a solution. If you can do this, even affluent customers will turn to you for help.

Focus on the Quality

The wealthy consumers are attracted to things that are top notch. This means that everything about your business needs to be great: the product/service, website, mobile app, store, design, staff members, customer service, packaging—everything.

It’s important not to confuse quality with luxury: having a high quality website, store and excellent customer service doesn’t mean you need to go over the top and spend millions of dollars on luxury you can’t afford. Make everything perfect, but don’t try to impress with luxury that looks out of place.

Focus on Exclusivity

Wealthy people have the money to buy whatever they want, and most of the times, they want things that others can’t get. Special offers and VIP services are a solid way to attract such people. Your special offers need to be targeted towards their pain points and needs, to further emphasize the value your company and brand can bring to them.

Depending on your target audience, you can do something like:

  • Save their time with exclusive VIP services
  • Create special offers that do not apply to everybody, only to top clients
  • Offer them even more value, often at a higher price (in this case, higher price will help you attract consumers, rather than scare them away)

You should aim to change your general “join our monthly subscription” style to more of a “welcome to our inner circle” type of thing to make wealthy consumers a part of your community

Focus on their Preferences

Wealthy clients are willing to pay more money for a product or service, but they also demand increased attention in return. Keep a close eye on their preferences, purchase behavior and likings and provide individually tailored offers and suggestions.

When communicating with affluent clients, you need to make them feel important. Make them feel like your top priority consumer and look for any clues that will help you deliver the best service possible and attract them to your brand.

Affluent customers demand more attention, caring and quality in return for the high price they pay. Your brand needs to offer them something that they cannot find elsewhere, something that holds value to them and will make them feel different from the vast majority.

Author: Stefan Loewer is a writer with profound experience in marketing and also a blogger. He writes for PatientSites.com and his articles can be found on various marketing and business blogs.

Published: December 4, 2015

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