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Tips for Selling to the Affluent

Tips for Selling to the Affluent

Hi everyone,

As part of my regular research and learning time that I spend each week, I've been reading Dan Kennedy's 'No BS guide to marketing to the Affluent' and decided to turn some of my notes from it (and from other research that I've done) into a blog post as I thought many of you may find my notes useful.

It isn't specifically to do with just internet marketing, it's to do with marketing products or services to the affluent in general.

Enjoy...

==== Who are considered as 'The Affluent'? ====

Using the figure of household income of $100,000 usd or above as a sign of affluence, according to Wikipedia 15.7% of the USA is considered as affluent.

Further studies in the USA reveal that 50% of affluent people are self employed, while the other 50% achieve their wealth through inheritance, divorce, and well paid highly specialized professions.


==== What do they buy? ====

Affluent customers see the value in investing back into their business. If you can offer them a product that will increase their businesses leads, conversion rates, average $ per customer, and/or increase the number of repeat customers that a business gets, then they will take your offer very seriously.

Affluent customers also spend large amounts of money on luxuries, indulgences, collectors items, unique experiences, their children, status enhancers, stock, gold, silver, real estate, assets, upgrading their home or holiday home (kitchen's often $100k+ etc). These purchases often give them the "I deserve this" feeling, and the status that comes with their purchase feels like a sense of accomplishment (e.g. owning a Ferrari, a holiday home, or being a member of an elite inner circle membership).


==== Why will they want to buy through YOU? ====

Whether you yourself are affluent or not, you need to present yourself and whatever products or services that you are selling, as elite.

As far as you personally are concerned, make sure that every point of contact that you have with the potential customer is professional, courteous and leaves them feeling confident that you understand them and their desires.

If you can't afford to have a fancy office, then get a nice suit and come out to meet them in person. If you are selling online then there is no reason why you can't have a very professional looking website, particularly one that contains a big promise about your product or service, and multiple elements of proof that you can provide what you say you can.

Proof can come in the form of offering a free report, for instance a real estate agent might offer a report on 17 great ways to increase the price your property sells for. Proof can come in the form of testimonials, particularly from people that your potential customer admires or sees as similar to themselves. It can come in many other forms, such as screenshots of you being featured in a major magazine article, or on the news, a review from a celebrity, or even a product demonstration.

Just remember, product demonstrations often backfire, if you do do a product demonstration, make sure you do it in a way that makes your potential customers say "wow", otherwise you are better off sticking to the other elements of proof that will have this effect.

The best proof of all is if you have been referred to them by a friend of theirs. This will happen if you deliver a high quality product or service, and make it a fantastic experience.

Just another tip for selling services via a website (e.g. website design, salesletter writing, seo services, etc). One thing that works really well if you are looking for affluent clients, make your potential customers fill out an application form on your website in order to apply to be your customer.

This weeds out less serious clients, while also adding to that sense of accomplishment on the part of your client when they do finally secure your services.

When selling to an affluent customer price isn't the major factor, it's the quality and excellence of your product or service.

You need to make sure that owning your product or joining your service means something. Somehow it should give them a sense of status, whereby owning your product feels like an accomplishment in of itself.

A lot of affluent customers purchase through one vendor over another as a way of showing themselves respect. Affluent people love feeling like they deserve this for all their hard work.

Also, just getting back to pricing for a moment, if you price higher, you can afford to invest more in your product or service, meaning a greater experience for your customer.

Often affluent people want a job done properly, not cheaply, so price isn't the factor that sways them, it's their belief in your ability to do the job well and also any positive feelings such as status, or allowing themselves to indulge that comes as a result of being your customer.

I also found it interesting that more people wanted to join Kennedy's Inner Circle Membership, than when it was called a subscription. People want to be members, and in particular, part of an inner circle, a lot more than they want to be a 'subscriber' - I might have to look at that wording, or similar, for some of my membership sites :)

===

I hope you enjoyed this blog post guys, it's basically a tidied up version of a bunch of notes that I took while doing some research yesterday.

As always, comments below are most welcomed.

All the best!

Mark Ling

17 Comments Add your comment
  • Reply Todd Wallace2751 days ago

    Having them apply to be a customer is an interesting concept. I have a situation where I don't want to open up services to everyone and this might be the solution I've been looking for. Thank you Mark.

  • Reply Perry Wong2749 days ago

    Thank you Mark for this particular post. It really refreshes the life experience of all the information out there that could take you in a direction you may or may not be targeting. This summary revisits from a real pro like Kennedy from the many true experiences of what is correct based upon identifying the tastes of a targeted market from a different perspective. This is truly a good find.

    Best,

    Perry

  • Reply Guy Nadeau2748 days ago

    Hi Mark,
    I`m relatively new to all this internet business. Last summer , I didn`nt even know what an Affilliate Program was, let alone that it was even existing. It has been a couple of years that I was kinda hoping to find some ways to make extra money beside my regular job. It was actually at the end of that summer that I was starting to search the internet for that kind of stuff.

    But anyway, I just wanted to say, Thank you for sharing your notes.

    Guy

  • Reply Paul • 2745 days ago

    From your post sounds like with the affluent just as with all customers make them feel special and share with them what is in for them, and you will have broken down a majority of barriers toward having them as a customer. Remember hearing a quote but not who it was from that price is only objectionable in the absence of quality. That would apply to the product, the service rendered by the vendor or having made them feel important by the salesperson.
    Thanks for always sharing good content.

  • Reply 2739 days ago

    Very nice article. With the current economy our client base is dwindling quickly. You gotta go where the fish are. Thanks for the help.

  • Reply Linda Faye Messer2736 days ago

    Some very helpful information. Thanks Mark for all your beneficial tips.

  • Reply Donald Banks2734 days ago

    Thanks for the perspective. I definitely need to raise the bar as far as my perspective client base goes. I sell insurance and I've come to discover that people who would benefit from having insurance the most, are the least likely to buy it. The affluent understand the concept of using other peoples money instead of their own whenever possible. And that's insurance in a nutshell.

  • Reply Barb • 2732 days ago

    Thanks for the look into the mindset of the affluent. I agree with the prestige associated with the Inner Circle membership idea.

  • Reply Brian • 2732 days ago

    Great post and I'm trying to figure out how to implement this in my fund raising for our church planting work. I can seem some ways to incorporate this into fundraising. I especially want to weed out those who have no interest in helping us but pretend to be interested if only for the reason of being polite. Weeding is the basic thing I learned from this post and I'll try to put it into effect next week.

    Thanks for the inspiration.

    Brian
    Zach's House

  • Reply SUSAN GELENG2732 days ago

    Hi Mark, well let's see I have been having a hard time trying on my own to learn about affiliate Marketing
    I know it's not hard to do, it's the marketing that can be a toughy but all and all I found your site I'm very glad that I did now it might not take me too long to get up and running. Mark I also want to tank you for your blog, you gave me some good ideas.

  • Reply Bingo Ventura2732 days ago

    Hmm, I like this post, and it made me remember some of the marketing terms i used to teach before. I used to call this type of marketing 'Prestige Marketing'. I think all of us want a little more prestige in our lives, and being a member of a prestigious club of money makers seems like a good thing. Hmm.

    Thank you for your post, Mark. It made me stop and ponder about some things i forgot.

    Cheers!

    Bingo Ventura

  • Reply augusto elvina2725 days ago

    hello mark I am from the Philippines and I have already spent my entire 5 years into network marketing have so many site and gurus that joined and even paid, and still don't see any result from my clickbank account, but it is only you that make me see the real and proper way to think like an affiliate I hoping to have you as a friend so that I can learn from you personally thank you for the information hoe to see your reply in my email : )

  • Reply stefan solohub jr2723 days ago

    Hi Mark, Just wanted to let you know that I thought the blog was excellent! Thank you for taking the time to post it! I know that your time is very valuable. It made me think and gave me some insite into the afluent mind set. Thanks again! P.S. I just started your course and I think it's excellent. I can't wait to get started by actually putting up my own website to see how all of this works in the real world of affiliate marketing. I am very opptomistic and can't wait to get started! This course is just what I was looking for!

  • Reply wentzel2708 days ago

    Thank you for sharing the notes Mark. I read the book last month and was going to implement some of the things in my business but got side trackted. Your post reminded about that again. Good thing. So I'm off to go and do some implementing :)

  • Reply Prasenjit • 2705 days ago

    Thanks Mark. This post is really inspiring.

  • Reply Jude E. Godwin • 2694 days ago

    Great tips on how to market to the affluent. Keep up the good job.

  • Reply Hakeem • 2682 days ago

    Excellent article!!!. Very useful resource. Just wanted to add on by mentioning how I was able to get personalized guidance on affiliate marketing from an internet marketing millionaire named Jamie Lewis. Check out ImWithJamie.comfor additional tips on how to become a super affiliate. Tons of good and very practical information. You can also ask him questions directly!

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