Marketing To High End Consumers – Use These 11 Strategies

Understanding the market for your product or service is beneficial to boosting and retaining sales. Marketing to high end consumers is contingent on understanding your customer and the products or services they desire.

In this article you can expect to find quality information and tips regarding how to market to high end consumers and discover:

• Who the luxury consumer is, and how to market to them 
• Resources directly from Mediaboom to help you market to this specific demographic 
• Strategies and tips to help you market to high end consumers 
• The growth of high end consumer marketing 

Eleven Strategies For Marketing To High End Consumers 

1. Build a consumer profile 
2. Meet high end consumers where they are – one platform at a time 
3. Utilize income targeting 
4. Create appealing video content 
5. Position your brand messaging and designs to match your audience
6. Take advantage of influencer marketing campaigns 
7. Apply the exclusivity principle 
8. Measure and track your marketing efforts and KPIs 
9. Reward and recognize your consumers 
10. Start an email list or newsletter 
11. Personal touch

Understanding the Luxury Consumer 

Understanding the luxury consumer can help immensely when marketing to high end consumers. Psychological studies on this demographic suggest that the majority of individuals who are categorized as high end consumers belong to GenZ and Millenials. These generations appreciate luxury items for the power of big spending, and the values that luxury brands promote and stand behind. 

High end luxury consumers are drawn to the appeal of quality and are willing to pay large amounts of money to ensure the quality of the product, good, or service is as promised and worth the hefty price paid.

To get industry insight into understanding the luxury customer, check out this FREE copy of “Who Is The Target Audience For Luxury Brands?” Inside you will find key information about the luxury consumer target audience, including strategies for narrowing in who your audience is and proven marketing strategies in real-life business examples.

1. Build a High End Consumer Profile 

The first tip for marketing to premium buyers is to build a high end consumer profile. Refining your consumer profile will aid in your efforts of marketing to high end consumers by building features that will further impact your reach and relationship with potential customers.

You can build a high end consumer profile by first defining who it is you want to market to, and creating an ideal consumer profile based on demographics, buyer persona, and data to support the established profile. 

2. Meet High End Consumers Where They Are – One Platform at a Time 

Meeting consumers where they are is vital to success in marketing to them. By utilizing social media and taking a look at the different platforms, you might find that some demographics are more apt at one platform over another. 

Studies show that millennials prefer the platform of Facebook, whereas GenZ prefers Instagram. Both of these platforms are a great choice for marketing, but knowing who your consumers are will be highly beneficial to the success of your sales. 

In other words, social media is an invaluable tool in marketing to high end consumers, revolutionizing the way we advertise and cater to the appeal of clientele.

Check out our FREE eBook showcasing digital strategies to reach today’s connected consumers.

3. Utilize Income Targeting 

Finding your consumer audience by income targeting can pay off quickly if you implement it into your marketing strategy. By finding out the average income of your consumer, you can better utilize your advertisements and marketing campaigns to target who and what your product is geared towards. Most digital advertising platforms allow advertisers to target the top-income residents in a demographic location. For example, Google allows advertisers to reach a specific set of potential customers based on household income.

4. Target Your Competitor’s Audience With Facebook and Instagram Ads 

You know that phrase, keep your friends close and your enemies closer? It’s a fantastic strategy you can implement in marketing to high end consumers. Keeping a close eye on your competitor’s audience with Facebook and Instagram ads allows you to quickly find what is – and what is not – working for drawing in your target customers. 

Get started on creating ads for your content, products, and goods for increased sales and maintaining quality marketing. Facebook and Instagram ads allow advertisers to target specific social media users. The users who like, follow, or interact with specific businesses (your competitors) will then see your ads.

To begin, start a list of all your competitors. When creating the target audience for your ad in Facebook Ads Manager, select the interests affinity category. Secondly, search for the competitors on your list. This will then show your ad to those who have interacted or shown interest on social media to your competitors’ pages.

5. Position Your Brand Messaging and Designs To Match Your Audience 

Being mindful of your copywriting and design skills is vital to marketing to high end consumers. Copywriting is essential to your audience as it is a well-thought-out approach to sales, information, and the resources your business has to offer. Design, on the other hand, helps your content and product stand out above your competition. 

In order to better your skills in both copywriting and design, it is always best to hire professionals that can take your high end brand to the next level. 

6. Take Advantage of Influencer Marketing 

In an age where influencers seem to be everywhere, why wouldn’t you want to take advantage of influencer marketing? This tactic simply uses other people with thousands of followers on social media to endorse and sell your product. The key is finding influencers who align with your product or service. 

A great first step in taking advantage of influencer marketing is to offer an ambassador program or sponsor an influencer directly in return for an honest review of your product to their audience. 

Another undeniable resource for influencer marketing is influencers-as-a-service companies, such as ProductWind, that allow brands to launch influencer campaigns. 

Marketers or business owners simply create an account and are then paired with influencers that match their brand and industry. The great thing is that this service generates trackable attribution links and claim codes for each influencer to know which will drive sales for your high end brand. 

7. Apply the Exclusivity Principle 

Applying the exclusivity principle is an abstract tactic in marketing that allows you to influence your consumers through price and demand. This tactic can also help define what needs your customer may have.

Consumers often assume more value in products and services that are offered in fewer quantities. You know the popular term of FOMO, right? Fear of missing out is the slang acronym for consumers feeling “left out” if others have what they do not – whether that be a product, experience, or service.

Show that you are only accepting a certain number of consumers into a new program. Display that your business is only selling a select amount of a new product. Promote you are only showcasing an exclusive offer to the first thirty people to claim it. 

Therefore, showing that your brand is exclusive and only offered in limited quantities creates a fear of missing out, thus causing consumers to decide to make a purchase. 

8. Measure and Track Your Marketing Efforts & KPIs 

Taking the extra step to measure and track your marketing efforts will benefit your brand. This is the best way to determine whether or not your strategies are actually working. Utilizing analytics software is a great way to keep track of how things are going within your marketing efforts. 

By measuring and tracking your marketing efforts, you will be able to find data that is most specific to your needs and the needs of your consumer base, meet established goals, and reveal valuable insights about your website and marketing efforts.

Google Analytics is a fantastic tool for measuring your marketing to high end consumers. 

KPI is your key performance indicator, and it tracks milestones and progress reached in a given amount of time. Examples of KPIs are: 

• Revenue per client 
• Profit margin 
• Client retention

Each of these examples is valuable to reaching high end consumers through marketing, and can present your company with data needed to further engage or better market to your clients. 

9. Reward and Recognize Your Consumers 

Rewarding and recognizing your consumers is a sure way to maintain connections and keep them coming back for more. This strategy establishes relationships with your customers and allows for many benefits, including: 

• Increased engagement 
• Positive reviews 
• Overall satisfaction 

By valuing your consumer, you can be sure that they are recognized for their loyalty and business with them is maintained. 

10. Start an Email List or Newsletter

Starting an email list or newsletter can be key when communicating with consumers. 

Doing so can result in maintained relationships with clients, as well as a well-defined and structured plan in place for getting work done. 

Simply invite your clientele to sign up for your email list or newsletter, and send one out every week, detailing the work you are doing and your future plans. You might even go an extra step and invest in your consumers by offering a reward and recognition for their ongoing support. 

One of the best ways to implement this strategy is by setting up a form on your website so that users can sign up for your newsletter.

11. Personal Touch 

Personal touch can communicate a lot, especially in marketing to high end consumers. When customers feel they have been spoken to personally, they are more likely to return as a customer and spread the word to others. A few ways you might add a personal touch are: 

• Personalized thank you notes 
• Christmas card or company ornament during the holiday season 
• Direct email or phone call to the consumer to ensure their specific needs are being met 

In addition, implementing a personal touch into marketing to high end consumers can help to maintain good relationships with your buyers. 

The Growth of High End Consumers

The growth of high end consumers hinges on public relations and marketing. Appealing to high end consumers requires meeting them where they are, targeting their specific needs, and providing quality goods and services. 

Conclusion 

In final thought, marketing to high end consumers with effective marketing strategies will be sure to grow and retain your high end consumer base. By following the tips listed above, your brand will reach the correct high end consumers. Ensure you are being intentional with your marketing strategies. Follow through with maintaining established relationships. These will ensure your growth skyrockets. 

Mediaboom offers professional marketing services for high end brands. Contact us today to set up a free 30-minute consultation and find out how our digital experts can help take your brand to the next level.