Engaging with High Net Worth Clients
2-Day On-site Luxury Training for up to 20 employees
It does not matter what you sell, whether it is luxury cars, luxury properties or a luxury service, targeting high net worth individuals (HNWIs) is a completely different game than attracting prospects in general.
This group are highly skilled, digitally savvy and spend a lot of time online, they’re well-read and extremely selective on which brands they share their personal information with, when sharing on social media or online in general. This two-day training will give your team insights and actionable steps they can take to build relationships, engage and generate leads from High Net Worth Individuals.
The key to lead generation for High Net Worth Individuals (HNWIs) is in understanding their behaviour as consumers. A good starting point is to look at the brands they currently buy from e.g. Apple, Aston Martin, Mercedes, Rolls Royce, Mont Blanc, Rolex etc. Studying these brands will give you valuable insights into what these individuals expect from their buying experiences and how your brand should match these experiences.
The buying behaviours of affluent individuals can be confusing to sales and marketing teams and seem contradictory at times. For instance, they enjoy high-end products but also every-day items.
They like traditional values, meeting in person and are very loyal to a brand that has given them a great service. This is where common misconceptions come to play which in turn produce ineffective communications aimed to this high-end client segment.
As a brand, you need to look, speak and fit the HNWIs high expectations, matching what they are used to seeing. Understand your current customer base to ensure that this is your target customer before creating your personas, segmenting your lists, re-designing your client journey and building your culture of luxury.
These individuals might raise the bar for businesses with regard to their high expectations but being very digitally skilled and online daily, they are easier to reach than ever before. Additionally, once onboard, HNWIs are loyal to those who’ve given them a positive experience and they are happy to refer you to their friends and colleagues.
Categories of High Net Worth Individuals
- Understanding the different categories of wealth
- New wealth vs old money
- The millennial high net worth client
Defining a Luxury Customer in Detail
- Defining our current customer profile
- Determine a profile for the correct target segment
- Matching the correct HNW client with the correct product
Developing Relationships with HNW Clients
- How to find HNW clients
- Where to network to meet potential clients
- Defining if traditional methods still work
Engaging Effectively with HNW Clients
- Developing conversations with potential HNW clients
- When to entertain HNW clients
- When is gifting an appropriate relationship building tool
The Luxury Expert Selling Approach
- From sales person to luxury expert
- Understanding consultative selling
- Defining suggestive selling and how to use it
The Rules of Negotiating with HNW Clients
- Understanding why HNW clients negotiate
- Does negotiation always mean price reduction
- The dangerous trap of “free”
Professional Etiquette and Behaviour
- Professional Behaviour
- The use of language
- Using diplomacy
Understanding the Expectations of the HNW Client
- Expectations of current client profile
- Setting new expectation parameters
- Understanding that HNW client expectations are a world apart from the expectations of the general client