Business Transformation

5 Tips On How To Address Wealthy Clients

Wealthy clients are traditionally a part of the market that only concerns a few of the marketers. Today, we will talk about how to connect with them through a physical store.

  1. You provide particular products and services
    The worst thing for a consumer to realize is that they are just a number on your sales. Helping them realize that they are unique and that their uniqueness is appreciated is crucial. The store does not attempt to sell a million products that are not related to each other in any reasonable way. On the contrary, it has a unique character just like the client and is oriented regarding the products and the customers they address.
    This way clients can identify themselves through the store. What the store represents for them is what they represent for themselves. They know they can share a few good words about this business with a friend or a relative because they have a high opinion of the business they represent. The products, the atmosphere, the service, and the employees are close to their philosophy and therefore they have a good match with the whole concept.
  2. You are there to help them, not the sales of the store
    As we pointed out previously, customers need to be taken seriously or at least feel like they do. While in regular stores you will expect a salesman to praise the product and point out the product’s good match with the customers’ characteristics and desires in high-priced stores this is not the case.
    The salesperson has to be honest and make it clear that they want to help this specific person. A vivid way to prove your intentions is to listen carefully to their needs and provide them solutions that have a real connection to their expectations. If you believe the department can not fulfill these expectations it is better to let them know. You may not manage to make a sale at the moment but you will build a door of communication for the future. Remember we are talking about customers who will leave a considerable amount of cash in the store, so thinking about your relationship with them long term will prove beneficial.
  3. Your reputation counts more
    Rather than chasing a single customer, you can consider the pool of customers you can have through this initial client. Assuming that you are selling clothes. The higher the price the fancier it is. Usually, people will spend more money on something they intend to wear on a special occasion where thousands of people will see them and talk about them, therefore, they may have probably come to your store because they are looking for a dress to wear in a big event or something like that.
    The dress you will sell to them will be your living advertisement. Whenever they wear it people will ask them where they bought it from and perhaps how much it cost. Let the customers know of this mindset and they will feel safer that you probably believe in this purchase more than they do and you have every interest in helping them find the perfect piece.
  4. High pricing
    While for most people the lower the price the more attractive it is, rich people think the opposite way. For them, money is not an issue, however, buying the best of the products that are out there on the market is an issue indeed. Money works as an indication of how high the quality of the product is. A high price will reassure them they are in the right place and they have not made a mistake to step their foot in.
  5. You provide the best of quality and service
    To support the pricing in which we referred above you have to make sure you have the whole package. If you can’t tick all the boxes do not go into the trouble of addressing these clients. They have a lot of experience and you cannot full them. At this point, it is either everything or nothing. Brands have an important role to play at this point.
    No matter what the identity and style of the store are, it is always a wise idea to have some of the big brands in it. Combining all of the above with accuracy will give you everything you need to not be worried about how any financial crisis will affect your sales.

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Anna Siampani
Anna Siampani, Lifestyle Editorial Director at the CEOWORLD magazine, working with reporters covering the luxury travel, high-end fashion, hospitality, and lifestyle industries. As lifestyle editorial director, Anna oversees CEOWORLD magazine's daily digital editorial operations, editing and writing features, essays, news, and other content, in addition to editing the magazine's cover stories, astrology pages, and more. You can reach Anna by mail at anna@ceoworld.biz