Wealth is changing world wide and it is time that marketing caught up.

Wealth is changing world wide and it is time that marketing caught up.

It is very pedestrian to need to make fun, or put someone down to make oneself feel better. That is usually the behavior of the jealous; those that have not had the personal success, to somehow feel superior to those
that have. That can be in the form of an
arrogant sales clerk, or haughty “old money” types that seek satisfaction by
diminishing the self worth of the successful entrepreneurs, or companies that
give information out assuming certain luxury/cultural knowledge base higher
than is accurate. People often ask me to entertain them with
tacky “nouveau-riche” stories making fun of people. My experience in general in working with
these people is a very positive one. To
a large degree they are a smart, fun, generous and interesting group of
individuals who feel gratitude for their good fortune.

“The Luxury Guru’s” work is free from criticism and judgment. I offer the wealthy (often new money) the opportunity to learn about the best in
all luxury categories. My shows/articles
offer a safe and private venue, where those that know nothing on a topic, can learn
free from the need to protect their ego.
My shows do not talk down to people.
I embrace positive intensions where all actions are loving and supportive. These people did not get to their level of
success from being stupid, but because 92% of the world’s Ultra High Net Worth is
“new money” they simple did not have the exposure to be brand aware. Most grew up in the middle class and would be
more aware of mass brands than elite brands.
They may know Nike but not Armani.
Luxuries evoke positive emotion. These
individual want to experience life to the fullest that their means allow, and they
are hungry to understand the art of the different luxuries. The only way for luxury brands to grow in
this environment is to educate these consumers on their brand’s history,
quality and uniqueness. This is true
globally. Every one is targeting this uber-rich group, and so TRUST is a big
issue. To simply send out long videos
with no identification as to the validity of them is just wasted capital. That is why media ventures like “Luxe TV”
were not successful in reaching the UHNW.
They just became one long running ad after another of luxury sales
pitches with no sense of credibility, no person to trust, no connection
made. The power of the personality is
seen when Oprah mentions some obscure book and the next day it is on the best
sellers list. People can connect to
another person, but not to a thing.

A company can go after 50% of the world’s wealth by targeting the top 2% or by targeting the other 98%. Obviously the price of the product
or service may determine witch group will want or need it. Most all magazines in print and web reach the
“aspirational” group ….but very few successful reach the already arrived taste
makers and influencers of the world. Not
because they don’t want to, but because they do not know how. This small group does not respond to traditional
mass marketing strategies. They are the
least influenced by traditional advertising.
They respond best with “peer to peer” approach. They are not swayed by a celebrity names like
the masses are. It takes a specific
approach and most marketers simply do not have the skill; most don’t even know
the difference between a “blue chip” brand and “luxury” brand. The company that
successful obtains the elite group automatically gets the aspirational “want to
bes” that follow them.

In the US where there is a larger group of educated individual there is a relatively low “cultural”‘ knowledge. If you go out to dinner with
12 accomplished C level professionals, you may find it hard to carry on a group
conversation about anything that is not work oriented or involves a ball
(sports). A dozen individuals that could
discuss the symphony, ballet, art and rare wines, etc and involve everyone
would be infrequent. This is why such an
economically established country has only achieved about 36% of their luxury
consumption potential. Thus luxury brands need to explain the art, or culture,
of their luxury. Only through education and
cultural awareness, and thus appreciation, can brands hope to open the doors to
more consumption by these individuals.
It must be presented in a “fun” to learn media venue. Lorre’s Luxury shows educate people on the
distinctions between the brands and “The Luxury Guru’s” extensive luxury
marketing back ground gives the credentials/trust to present it effectively.

Lorre White

"The Luxury Guru"

White Light Consulting

"Those who say it can't be done...need to get out of the way of those who are doing it!"

www.LuxGuru.Typepad.com Luxury Blog

www.WhiteLightConsulting.net

Twitter: “Lorre”