Question

Topic: Strategy

Targeting Luxury Consumers With #1 Ranking

Posted by Anonymous on 8/2/2007 at 9:21 AM ET 125 Points
I was recently approached to develop a marketing strategy to utilize our recent accolade as the #1 mover in the country. Seems like an easy task at hand since, as marketers, we strive for this type of award and recognition. However, this is the tenth year in which we have received this rating so our current target list has 'heard it all before' with little or no action on their part. We have narrowed down our target audience to focus on individuals and families selling 'prime' real estate $1m upwards. If anyone has insight as to how to approach this audience and the realtors and brokers linked to these individuals I would appreciate it. My research indicates that this group is extremely wary of providing referrals to their clients with the possibility of disaster move resulting. The assumption of my VP of Sales & Marketing is that with this standing we may be able to persuade this audience and allow them the opportunity to extend their offerings past the tradition sale. I appreciate everyone's thoughts. Thank you.

Christina Pappas
Clark & Reid Company, Inc.
www.clarkreid.com
To continue reading this question and the solution, sign up ... it's free!
SUBSCRIBE
Or, SIGN IN

RESPONSES

  • Posted by mgoodman on 8/2/2007 at 10:00 AM Accepted
    Just based on a phrase in the first sentence of your question, I think you've identified the reason why the task is likely to be futile, if not counterproductive. You wrote that the task is:

    "... to develop a marketing strategy to utilize our recent accolade as the #1 mover in the country."

    What makes anyone think that your #1 mover recognition is important to your target audience? It might be important to you and to those in the industry, but it certainly isn't a benefit for your target audience. McDonald's might be the #1 fast food chain in the country, but the people selling $1-million+ homes are probably not going to flock to McD's when they learn that factoid.

    I think you probably need to do as DebraHelwig suggests and give your target audience some added value that is meaningful to them. If you do that, and do it well, then you will have earned the right to at least ask them for appropriate referrals.

    Getting recognized as #1 on some ill-defined criteria, by an organization that they're not familiar with, is hardly an important benefit. Focus on how you can serve them better. That's how you get referrals.

  • Posted by Tracey on 8/2/2007 at 1:21 PM Accepted
    Here are some ideas that may or may not fit your audience.... How about a rewards program targeted at realtors/brokers who recommend your services to the families that are moving? Developing relationships with other companies/players in the real estate business seems key here.

    Testimonials from satisfied customers.

    Stats on your successful moves. E.g., 90% "excellent rating" from customers, never had furniture damaged in x years, etc.

    A "we do it all so you don't have to worry about a thing" approach -- if you do all the boxing, packing, logisitcs, etc. that seems like an attractive feature for busy people, one that should be advertised.
  • Posted by Jay Hamilton-Roth on 8/3/2007 at 11:17 AM Accepted
    How about teaming up with realtors and offer them a way to take care of the buyer/seller: moving is INCLUDED in the price of the move, and the move is 100% guaranteed.

    If you're as good as you say, then roll in the cost of (a third-party) mover's insurance.

    People are generally wary of people they don't trust. To build trust, you need testimonials, independent testing (do you get data after the move to find their level of satisfaction and measure it against the amount you moved?), and extraordinary stories (very tricky things to move, expensive, fragile, high-profile people, etc.).
BACK TO TOP

Post a Comment

Related Discussions

Community Info

Top 25 Experts
(Strategy)