HIGH NET WORTH MARKETING – WHAT AND WHY?
What’s an HNWI? Anyone know for sure? This is the abbreviation used for ‘High Net Worth Individual’. Why is this important to your marketing? Most CMOs will tell you that the best way to blow away a target CPA number is to market to high net worth individuals, i.e. promote your wares in front of an audience who can instantly afford whatever it is your company does, not waiting for next pay check, not waiting for a business partner, just ‘I like it, so I’ll have it’. Not only this, but HNWIs have a habit of purchasing goods and services in multiples. This is usually music to the ears of most Sales Directors, ergo the Board. HNWI definitions vary according to where in the world you happen to be. For example, Investopedia has it as: “The most commonly quoted figure for membership in the high net worth “club” is $1 million in liquid financial assets.” 1 … whereas other countries have lower definitions, and some specialist agencies significantly higher. In particular, on...