Alan Rosenspan's "Improve Your Response"
INSIDE THIS ISSUE:
By now, I hope youve received our new seminar mailing, with a baby picture of me on the cover.
So did you burst out laughing?
Sending it out was a risk. How many business people have you seen with drool on their chins? But I hope it cuts through the clutter.
um .I didnt embarrass myself, did I?
Of course, if you are interested in a corporate seminar, please call me or Jodi Maffioli at 617-559-0999. Jodi is our Conference Director and in her spare time, teaches Public Speaking at Emerson College in Massachusetts.
You can also ask Jodi about any of these upcoming public seminars:
"Improve your Direct Mail in One Day" at the NEDMA Conference in Boston on April 10th.
"The DMA Creative Strategy Course" in New Orleans on April 17th and 18th, and also in New York on May 7th and 8th.
We are also doing a series of seminars in Europe in May in Slovenia, and possibly Budapest and Vienna.
We have been doing a number of programs with some of the leading credit card companies in the U.S. and there are three trends that seem to be working well in direct mail.
1. Stickers in unusual places
2. Lose the brochure
We just completed an article called, "Who Wants to Market to a Millionaire" and Id like to share some of the highlights with you:
How do wealthy people treat advertising and direct mail? Do they respond to different approaches? And what should you consider when marketing to the super-affluent?
The opportunity is huge, because today, there are more affluent people than ever before. There are an estimated 5 million millionaires in the U.S., and 267 billionaires.
Before I continue, let me confess that Im not one of them. This is only because I have carefully invested in buying books, watching movies, visiting good restaurants, and going on great vacations.
But I have worked for several companies that market to the affluent, including Steinway Pianos, The Private Bank and J.P. Morgan (before the merger) and Ive learned a great deal.
For a deeper understanding of the affluent market, I recommend reading the best seller, "The Millionaire Next Door" by Thomas Stanley and William Danko.
The authors were commissioned by an international trust company to do a focus group of people worth at least $10 million.
Now they couldnt offer to pay these multi-millionaires it might even be considered an insult. So they hired two gourmet food "designers" to create a buffet that included four different pates and three kinds of caviar.
The first multi-millionaire to arrive was offered a glass of wine -- very expensive 1970 Bordeaux. He replied, "I drink Scotch and two kinds of beer Budweiser and Free!"
By the end of the two-hour focus group, not a single person had touched the pate or the vintage wines.
The book continues with, "Today, we are much wiser about the lifestyles of the affluent. When we interview millionaires these days, we provide them with coffee, tea, soft drinks, beer, scotch and club sandwiches. Of course, we also pay them between $100. and $200 apiece."
Another source of information about the affluent consumer is the Robb Report, a glossy 250-page magazine with about 10 times as many ads as articles. It sells for only $7.99 an issue, but it can be hard to find. I got my copy the 25th anniversary issue in the lobby of the most expensive hotel in Boston. What do rich people buy? Here are some examples of the things that have been advertised:
A sterling silver tennis ball can for $1,750.
A brick from Al Capones St. Valentines Day Massacre Wall which has "seized the interest and imagination of collectors and crime buffs from around the world."
The "worlds most expensive bow tie" in 24-karat gold with 22 karats of inlaid diamonds for $140,000.
Noble Titles "Acquire with confidence an authentic Scottish title of Baron or French Title of Marquis, Count or Baron."
An 18-karat gold Space Travelers Watch which displays mean time, star time, the age and phase of the moon, for $350,000.
But rather tellingly, there are also ads for:
Earn $10,000+ monthly within 6 weeks, and:
Make $4,000 per day playing baccarat.
My favorite ad is "TP for the VIP" customized toilet paper imprinted with the name of your boat, your airplane or business or any photograph you choose -- 8 rolls for $49.95.
Who do you want to get even with?
What Techniques Seem to Work?
Here are some ideas you may want to consider when developing a program towards the affluent market.
1. Affluent people love to save money thats probably how they became affluent.
2. Affluent people like to be acknowledged as affluent.
3. Affluent people also like to be acknowledged as something more than just affluent.
4. Affluent people respond to exclusivity.
5. Affluent people want the things that money cant buy.
Alan Rosenspan is incredibly wealthy he has a loving wife, two beautiful children, and two highly affectionate, if not obedient, dogs.
When I was 12 years old, I first kissed a girl.
I was an absolute gentleman about it. I approached the object of my affections (She was a stunning 11 year old) and asked meekly,
"May I kiss you?"
She nodded her head, extended her cheek, and I awkwardly complied.
Thats Permission Marketing.
Several years later, I kissed another girl. But this was different. She didnt just give me permission, she kissed back. And without revealing all the juicy details, it was a far more involving and rewarding experience.
And thats Participation Marketing.
Permission Advertising is like shaking hands with a stranger. Participation Marketing is the marketing equivalent of playing "Twister." Youre not quite sure which part of your program belongs to the company or to the customer.
Were doing a Free web seminar called "Beyond Permission Marketing" on June 6th at 2:00 that explains the principles of Participation Marketing.
Just e-mail me at Arosenspan@aol.com if youd like to attend.
Theres an ad for Fortune magazine that Ive always loved and tried to live up to.
It has a gorgeous photograph of a baby, with the following headline that I wish I wrote:
"Were all created equal. After that, baby, youre on your own!"
Have a wonderful Spring.
Please feel free to forward me your comments and suggestions on the newsletter or any of the topics I've touched on here.
You can reach me at:
Alan Rosenspan & Associates
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