Go where the rich people live

39 replies
I'm going to do offline flyer marketing at rich people's houses.

What should I try and sell to the rich people? What kind of stuff do these people buy?

Anyone have any experience in the luxury goods/services niche? Please share your advice.
#live #people #rich
  • Profile picture of the author Aaron Doud
    How rich?

    Corvette?
    911/GTR?
    Ferrari/Lambo?
    Jay Leno?

    I think in cars thus the levels I used.
    {{ DiscussionBoard.errors[7664185].message }}
    • Profile picture of the author Avalonesa
      Originally Posted by Aaron Doud View Post

      How rich?

      Corvette?
      911/GTR?
      Ferrari/Lambo?
      Jay Leno?

      I think in cars thus the levels I used.
      The size of their houses
      Signature

      Read the rules -- no affiliate links allowed in posts or sigs.

      {{ DiscussionBoard.errors[7666664].message }}
  • Profile picture of the author eperkins153
    Originally Posted by Avalonesa View Post

    I'm going to do offline flyer marketing at rich people's houses.

    What should I try and sell to the rich people? What kind of stuff do these people buy?

    Anyone have any experience in the luxury goods/services niche? Please share your advice.
    Offer your service of being a consultant for them, each house has a different person in it, and each person has a different problem, so for you to ask how can I make a flyer that solves every house on the blocks problem, the simple answer is you can't. Unless if you offer lawn care I guess, but even then some of the people like to do there own lawn like myself, I enjoy it. So as I said it is better for your flyer to offer general assistance as a consultant for them. Rather then HEY WANT TO BUY THIS... that could end up costing you much more in the end in terms of the amount of flyers you will need to be successful. as opposed to if your flyer simply offered YOU as a service.

    Hope that helps.

    Many wealthy people hire consultants to get things done for them. You could be one of those people instead of trying to sit and figure out how you can sell 1 item or 2 - 3 items to people you have NEVER met before and have no idea what they want or need in THEIR specific life.
    {{ DiscussionBoard.errors[7664221].message }}
  • Profile picture of the author Jason Kanigan
    Yes, you have figured out one component of Fit.

    Budget.

    Rich people, however, usually did not get there by spending money.

    So you need two other requirements for Fit to be good:

    Need

    and

    Personality.

    Find the need. Steaks? Carpet cleaning? Car detailing? Pool maintenance? I knew a person who built a business selling special feather dusters to rich people. No kidding.

    Think: these folks buy whatever other people buy, only better quality. They may spend the big bucks, but they have to have a good reason.
    {{ DiscussionBoard.errors[7664369].message }}
    • Profile picture of the author Aaron Doud
      Originally Posted by Jason Kanigan View Post

      Think: these folks buy whatever other people buy, only better quality. They may spend the big bucks, but they have to have a good reason.
      This here is a big key. They also buy to flash at times as well. But a lot depends on the target neighborhood. If they are making six figures but have a huge house they might barely be making it. On the otherhand the same house with a family making seven figures would be able to buy most anything they wanted to.

      Also remember when targeting the rich you need higher margins because their are less of them. Most of the "rich" made their money selling to the poor and middle class.
      {{ DiscussionBoard.errors[7664424].message }}
  • Profile picture of the author kellyyarnsbro
    I have onced mingle with these people and they use to talk about business as well, but instead of planning to sell to rich people like them their target are the common people that's why and how they get rich.
    {{ DiscussionBoard.errors[7666718].message }}
  • Profile picture of the author InternetJon
    I don't think you can just classify someone as "rich" and expect them to all buy the same thing.

    There are smarter ways to target people than based on the size of their house.

    Why not be more targeted and send mail to people who own businesses and sell consulting services? They get it all the time but it's better than random untargeted mail.
    {{ DiscussionBoard.errors[7666722].message }}
    • Profile picture of the author Avalonesa
      Well my thinking here is, if you can get just one rich client to purchase stuff from you, then you are set for life. Because you can charge them very high prices for stuff.
      Signature

      Read the rules -- no affiliate links allowed in posts or sigs.

      {{ DiscussionBoard.errors[7677927].message }}
      • Profile picture of the author ewenmack
        Some of the rich have modest homes and cars.

        Some of the rich have top of the range cars and homes.

        A rich woman waits till near closing to get
        her bread cheaper.
        She goes on the most expensive ship cruises multiple
        times of the year.

        The rich seek out recommendations for products and services
        more so than the middle class and poor.

        The older rich stick to brands they have used for years.
        They are the most loyal and almost a waste
        of time and money to get them to change.

        To read more about this group of big spenders and investors,
        buy the book No BS Marketing To The Affluent
        by Dan Kennedy.

        As you can see it's a mistake to think if one rich person spends big money on a car
        other rich people will too.

        Best,
        Ewen
        {{ DiscussionBoard.errors[7678295].message }}
      • Profile picture of the author TyBrown
        Originally Posted by Avalonesa View Post

        Well my thinking here is, if you can get just one rich client to purchase stuff from you, then you are set for life. Because you can charge them very high prices for stuff.
        Is this a joke post? You have no idea what you're going to sell, you have no clue about marketing to the affluent, but you think that you're going to somehow convince one of them to be your sugar daddy because you're going to be the first genius to send them a mailer with the product they've been waiting their whole life for but didn't know it? And by your estimation the rich are so stupid that they are going to pay hugely inflated margins so that you can work less? And to top it off they are going to be so lazy and daft that they'll continue to buy that product/service from you for life so that you are set for life? This has got to be one of the most inane things I've ever read.

        I have some experience selling to the affluent. I've sold high end protection dogs at an average price of about $25,000 per dog with prices going up to $50,000 or more. And then I've seen how these rich guys have been criticized for being so careless and 'stupid' with their money that they buy expensive dogs, cars, cigars, yachts, etc. Every time I hear that the rich are so stupid I always think 'Yup, they're so stupid that they are the ones that have enough money to buy the helicopter, the $40,000 dog, the big house, etc. Boy, I'd like to figure out how to be that stupid some day.'

        Looking at this thread I've got to think that you're trolling because your questions and assertions have been so ridiculous. If you're not trolling and you're being serious, you need to figure out a different line of work. You're not going to find some mailer that is your Jed Clampett oil strike. Forget about trying to strike it rich and start thinking about how to build a lasting business that helps people.
        {{ DiscussionBoard.errors[7678873].message }}
      • Profile picture of the author Claude Whitacre
        Originally Posted by Avalonesa View Post

        Well my thinking here is, if you can get just one rich client to purchase stuff from you, then you are set for life. Because you can charge them very high prices for stuff.
        I'm very sorry. You think there is a thing you can sell to people, and they will pay through the nose...because they were bright enough to amass wealth. Your idea is wrong.

        You also seem to think that after we tell you the "secret item that rich people buy" that you can put flyers on doors..and they will call you with suitcases of money. I would laugh, but you seem to really believe what you are saying.

        You need to read a few books on marketing.

        Rich people tend to be smarter than others. They also buy better than most (there is a reason they are rich).

        Your thinking is all muddled on this. You really need to buy a few books and read them on marketing. There are books on selling to the rich. Just go to Amazon.com to find them.

        I wish you luck.

        TyBrown said it better than I did. I hope your posts are a joke. I'm being as kind as I can.
        {{ DiscussionBoard.errors[7679532].message }}
      • Profile picture of the author SashaLee
        Originally Posted by Avalonesa View Post

        Well my thinking here is, if you can get just one rich client to purchase stuff from you, then you are set for life. Because you can charge them very high prices for stuff.
        Hi there,

        You can' t be serious with this post. You have an awful lot to learn if you are...

        All the best,

        Sasha.
        {{ DiscussionBoard.errors[7807839].message }}
        • Profile picture of the author RRG
          All the best products and services for the affluent are sold through 8.5 x 11 flyers.

          Everyone knows that.
          {{ DiscussionBoard.errors[7808773].message }}
          • Profile picture of the author Claude Whitacre
            Originally Posted by RRG View Post

            All the best products and services for the affluent are sold through 8.5 x 11 flyers.

            Everyone knows that.

            It's cruel to laugh, but that was pretty darn funny.
            {{ DiscussionBoard.errors[7810112].message }}
          • Profile picture of the author bizgrower
            Originally Posted by RRG View Post

            All the best products and services for the affluent are sold through 8.5 x 11 flyers.

            Everyone knows that.
            And because it's flyers, you're not violating any no solicitation or trespassing ordinances
            at all, whatsoever.
            Signature

            "If you think you're the smartest person in the room, then you're probably in the wrong room."

            {{ DiscussionBoard.errors[7812344].message }}
            • Profile picture of the author Biz Max
              I read a post a while back by one of the good copywriters on here, can't remember
              which one. He was saying that there are 2 types of prospects that are resistant to
              flyer type of ads; B2B and the wealthy.

              Have you thought about sending letters instead?
              Signature
              Small Business Marketing & Branding Specialist
              http://BrandWhisperer.net
              {{ DiscussionBoard.errors[7812519].message }}
              • Profile picture of the author Tim Bazley
                I understand many wealthy people are often cash rich, time poor. Therefore any product or service that helps them save time would be good.

                As an example...I once heard of a lady who earnt £200 a day just for properly organising rich women's clothing and shoes in their cupboards!
                {{ DiscussionBoard.errors[7813110].message }}
                • Profile picture of the author Biz Max
                  Originally Posted by Tim Bazley View Post

                  I understand many wealthy people are often cash rich, time poor. Therefore any product or service that helps them save time would be good.
                  That is not quite right. I know many blue collar people who have no time because
                  they work their butt off at sometimes 2 jobs to get by.

                  Wealthy people choose not to do things. If I were a millionaire I would never cook
                  a meal. Has nothing to do with available time.
                  Signature
                  Small Business Marketing & Branding Specialist
                  http://BrandWhisperer.net
                  {{ DiscussionBoard.errors[7813608].message }}
                  • Profile picture of the author Claude Whitacre
                    Have you guys ever read The Millionaire Next Door?

                    It outline how millionaires really act.

                    Did you know that the vast majority of millionaires don't really have a harp in the middle of their living room? they don't really have a piano in the foyer. Most don't even have a foyer.

                    Most live in the same home they had 30 years ago.

                    The single most popular vehicle of millionaires? A Chevy truck (maybe a new brand now, this was a few years ago)

                    Their wives (if it's a married man) still clip coupons. They wear suits that are under $500. They eat cooked meals rather than go out.

                    They generally spend less in nearly every area except for two. Real estate, and education.

                    We keep seeing mansions on TV and we think that's how the wealthy live. A few, not most. They don't listen to clasical music, sip wine all day, and wear an ascot. They don't dress in tuxedos for dinner.

                    Of course, there are exceptions. But as a rule, they are just smarter with their money.

                    And...as was pointed out earlier, they don't normally buy from flyers you place on their door. Unless you are wearing a tuxedo.
                    {{ DiscussionBoard.errors[7813738].message }}
                    • Profile picture of the author John Durham
                      Originally Posted by Claude Whitacre View Post

                      Have you guys ever read The Millionaire Next Door?

                      It outline how millionaires really act.

                      Did you know that the vast majority of millionaires don't really have a harp in the middle of their living room? they don't really have a piano in the foyer. Most don't even have a foyer.

                      Most live in the same home they had 30 years ago.

                      The single most popular vehicle of millionaires? A Chevy truck (maybe a new brand now, this was a few years ago)

                      Their wives (if it's a married man) still clip coupons. They wear suits that are under $500. They eat cooked meals rather than go out.

                      They generally spend less in nearly every area except for two. Real estate, and education.

                      We keep seeing mansions on TV and we think that's how the wealthy live. A few, not most. They don't listen to clasical music, sip wine all day, and wear an ascot. They don't dress in tuxedos for dinner.

                      Of course, there are exceptions. But as a rule, they are just smarter with their money.

                      And...as was pointed out earlier, they don't normally buy from flyers you place on their door. Unless you are wearing a tuxedo.
                      You just described just about every millionaire I have ever met.

                      Actually, the "big brick" people I described above are more "hundredthousandaires", they buy like they have some kind of point to prove to each other or something, mostly on credit.
                      {{ DiscussionBoard.errors[7813756].message }}
                    • Profile picture of the author Arzak
                      Originally Posted by Claude Whitacre View Post

                      Have you guys ever read The Millionaire Next Door?

                      It outline how millionaires really act.

                      Did you know that the vast majority of millionaires don't really have a harp in the middle of their living room? they don't really have a piano in the foyer. Most don't even have a foyer.

                      Most live in the same home they had 30 years ago.

                      The single most popular vehicle of millionaires? A Chevy truck (maybe a new brand now, this was a few years ago)

                      Their wives (if it's a married man) still clip coupons. They wear suits that are under $500. They eat cooked meals rather than go out.

                      They generally spend less in nearly every area except for two. Real estate, and education.

                      We keep seeing mansions on TV and we think that's how the wealthy live. A few, not most. They don't listen to clasical music, sip wine all day, and wear an ascot. They don't dress in tuxedos for dinner.

                      Of course, there are exceptions. But as a rule, they are just smarter with their money.

                      And...as was pointed out earlier, they don't normally buy from flyers you place on their door. Unless you are wearing a tuxedo.
                      Warren Buffett is a good example (except he isn't a millionaire). Very wise spender even when he was as young as 11.

                      His modest house he bought over 50 years ago and still lives in:
                      {{ DiscussionBoard.errors[7814794].message }}
                      • Profile picture of the author misterme
                        Originally Posted by Arzak View Post

                        Nope. No flyers there.
                        Signature
                        "Best book on answering objections I have seen... it's for photographers but it has brilliant techniques you can use in any business." - Claude Whitacre. When They Say That, You Say This (Amazon Kindle)
                        {{ DiscussionBoard.errors[7816757].message }}
                        • Profile picture of the author deu12000
                          A friend of mine got his real estate license a couple of years ago. He said, "I'm only going to sell mansions and houses to rich people. I'm going to make so much money in my first year it's going to be unbelievable."

                          I said to him, "Good luck. You know no rich people, you don't live in a rich area and you don't hang out where the rich people hang. You also have no real estate experience. If I was rich why would I buy from you?"

                          His response, "I'll get you the best price."

                          Mine, "You don't know that, you've never sold a house before. You don't know about features and amenities that rich people would like. You're not familiar with rich neighborhoods and the selling points of each area."

                          I was helping him because he is a friend and of course I had a real estate license longer than him and was closing deals.

                          It's been a couple of years since then. So far he hasn't sold any mansions. Matter of fact he's sold a couple of mobile homes and a couple of low priced homes.

                          What I see working more often is starting with the low end and working your way up to the high end after you have experience and recommendations under your belt. The only ways around it is if you're already immersed in "high society" (ex. friend's wife) or you catch some while general prospecting.

                          Of course there are exceptions but in general to get the big fish you have to catch smaller one's first.
                          {{ DiscussionBoard.errors[7817276].message }}
                      • Profile picture of the author Claude Whitacre
                        Originally Posted by Arzak View Post

                        Warren Buffett is a good example (except he isn't a millionaire). Very wise spender even when he was as young as 11.

                        His modest house he bought over 50 years ago and still lives in:
                        Do you see how his driveway is paved? Elitist swine! And those windows like like they are double pane glass...... Who does he think he is?!!!:rolleyes:
                        {{ DiscussionBoard.errors[7818332].message }}
                        • Profile picture of the author bizgrower
                          Originally Posted by Claude Whitacre View Post

                          Do you see how his driveway is paved? Elitist swine! And those windows like like they are double pane glass...... Who does he think he is?!!!:rolleyes:
                          But, what's his carbon footprint? More or less than Gore's? More or less than Bush 2?
                          Signature

                          "If you think you're the smartest person in the room, then you're probably in the wrong room."

                          {{ DiscussionBoard.errors[7819228].message }}
  • Profile picture of the author John Durham
    When I was in door to door we called this "Big Brick" prospecting. They will pay 60 bucks for a box of "Choice" Omaha Steaks that are no better than what they can get at the grocers for $25., just for the privilege of saying they bought it from Omaha...

    Its all in the presentation. These steaks are from "Limousine" cows, fed only the best grass...or whatever. :rolleyes:

    As a salesman you get the box for $20 -25 bucks and mark it up to whatever you want; $60 is the suggested retail price. I use to make a couple of hundred dollars per day doing that.

    You can make $200 bucks on one sale , by stocking them up and giving them a volume discount. Then make an appointment to check back every 6 weeks and restock them.
    {{ DiscussionBoard.errors[7678300].message }}
    • Profile picture of the author Claude Whitacre
      Originally Posted by John Durham View Post

      When I was in door to door we called this "Big Brick" prospecting. They will pay 60 bucks for a box of "Choice" Omaha Steaks that are no better than what they can get at the grocers for $25., just for the privilege of saying they bought it from Omaha...
      John; Do you know who these people are? The ones making a good, upper middle income salary. But they are spending it as they are making it.

      I had an uncle who made millions loaning private money to put real estate deals together. He also sold real estate...but made more money loaning money, and winning at poker.

      His real estate office was a small house he owned for 50 years. His home was smaller than my basement (It even seemed small when I was 5 years old)
      His cars were always trucks. He never wore a suit. Never. He hunted, owned the land he hunted on, and spent most of his time in barns and walking farms he sold. He married my aunt Edith when he was 18, and it stuck for 60 years.
      The same home...a few cars...lots of rifles....and deer antlers on his wall.

      I knew he made money (when I was a young man) but not exactly how. I was talking to a banker in the town my uncle lived in. He said "Jim Whitacre is your uncle?". Me- "Sure, so?"

      "Son, your uncle is the single biggest depositor in our bank. He owns more homes in this town that we do. Hell of a poker player too".

      I know. I played one night with him and a few of his friends. He kind of had to let me play, because we were related, and I had a keen interest in what he did. I lost $300-$400 (I forget exactly, this may have been in 1978).

      A few days later (after I caught up on my sleep), I went to see him in his office. He looked at me and said "Never play poker with me again. You'll never win. Every night I play, I don't always win big. But someone else always loses big. Don't play anymore". I took it personally at the time, but he was trying to teach me something.

      Anyway, back to the purpose of the post. I asked him once about why he never wore a suit, or spent his money like other people that were good with money. (I would never have dared say he had lots of money)

      He said "See the people with new cars, eating in fine restaurants, and swimming pools in their yards? They are people that sell to people like me. They dress like that because they need me. I dress like I do because I don't need them". He was fairly angry at the question. Nobody in our family ever discussed money. It was private. I'm surprised he put up with me.

      I visited him at his office a few times a week one summer. I toyed with selling real estate. But really, I just wanted to visit with him.

      He looked and sounded like Danial Day Lewis in the movieThere Will Be Blood. Not really a very nice man, I learned a few things from him.
      {{ DiscussionBoard.errors[7814410].message }}
  • Profile picture of the author NewParadigm
    Vanity sites are a nice niche. Use their name as domain name. Give the rich their own slick website so they can publish their gown/tuxedo event photos, newspaper clippings, talk about their fundraisers etc... Many will spend thousands on promoting their own 'brand'. kinda like housewives of XX reality show. Cater to their vanity and they'll pay big.
    Signature

    In a moment of decision the best thing you can do is the right thing. The worst thing you can do is nothing. ~ Theodore Roosevelt

    {{ DiscussionBoard.errors[7680279].message }}
    • Profile picture of the author Avalonesa
      Originally Posted by NewParadigm View Post

      Vanity sites are a nice niche. Use their name as domain name. Give the rich their own slick website so they can publish their gown/tuxedo event photos, newspaper clippings, talk about their fundraisers etc... Many will spend thousands on promoting their own 'brand'. kinda like housewives of XX reality show. Cater to their vanity and they'll pay big.
      Wow this is a great idea. Thanks. Now I just need to find out all their names.
      Signature

      Read the rules -- no affiliate links allowed in posts or sigs.

      {{ DiscussionBoard.errors[7807269].message }}
      • Profile picture of the author DaniMc
        Originally Posted by NewParadigm View Post

        Vanity sites are a nice niche. Use their name as domain name. Give the rich their own slick website so they can publish their gown/tuxedo event photos, newspaper clippings, talk about their fundraisers etc... Many will spend thousands on promoting their own 'brand'. kinda like housewives of XX reality show. Cater to their vanity and they'll pay big.
        Originally Posted by Avalonesa View Post

        Wow this is a great idea. Thanks. Now I just need to find out all their names.
        Wow. Blind leading the blind. You guys watch too many movies and read too many WSO guru sales pages LOL. :rolleyes:

        Lookit, rich folks are rich for one reason. They are smart. Being smart, they buy things that provide more value than the price they paid. All of life is seen through this paradigm.

        It extends to houses, cars, memberships, business deals, food, and products in general. If you think they are so dumb that they are going to pay big bux for a vanity site you are dreaming.

        You want rich customers? Come up with a way to provide more value than the cost of your service. No gimmicks. No tricks. No vanity crap. Offer them value. They will pay you.

        Change your personal mindset to this way of thinking and you can be rich too one day.
        Signature
        Be kind, for everyone you meet is fighting a hard battle.
        {{ DiscussionBoard.errors[7807471].message }}
  • Profile picture of the author gcozzens
    Asset Protection
    Signature

    Focus Your Life! How to Design Your Life the way you want it to be..(A new approach) - Download Here

    {{ DiscussionBoard.errors[7680722].message }}
  • Profile picture of the author gbarrows31
    What would you have to offer someone who live in Beverly Hills.. Who's house is 5.1 mil and they make 500 mil a year .. really.. Bad Idea..
    {{ DiscussionBoard.errors[7807492].message }}
    • Profile picture of the author gbarrows31
      Originally Posted by gbarrows31 View Post

      What would you have to offer someone who live in Beverly Hills.. Who's house is 5.1 mil and they make 500 mil a year .. really.. Bad Idea..
      Your flyer is best suited for the Gardner .. Hand it to them.. lol
      {{ DiscussionBoard.errors[7807495].message }}
  • Profile picture of the author Rearden
    Eat with the classes, sell to the masses!
    Signature
    Final Expense Agent Mentor -- Providing On-Going, Personalized Mentorship And Training From A Real Final Expense Producer To Agents New To The Final Expense Life Insurance Business.
    {{ DiscussionBoard.errors[7807812].message }}
  • Profile picture of the author Eddie Spangler
    Its all in the presentation fellas

    Signature
    Promise Big.
    Deliver Bigger.
    {{ DiscussionBoard.errors[7810257].message }}
  • Profile picture of the author kelvintoro
    If you can go near their houses then good for you. Lots of rich people live in gated villages and you won't get past the guards.

    Anyway, if you can get one rich client, you're really lucky because they could refer you to his/her friends who are also rich.

    Wish you all the best!
    {{ DiscussionBoard.errors[7811545].message }}
  • Profile picture of the author James Foster
    I think you're going to find a message to market MISmatch here.

    Hanging or handing out flyers has a low perception of value which will be an instant turn off to a high income area.
    {{ DiscussionBoard.errors[7812150].message }}
  • Profile picture of the author misterme
    While wealthy people may have the means to pay more, they may not have the willingness to buy what you're selling. But targeting the right neighborhoods could be a good first step if what you're selling is a higher ticker item.

    But you can't expect to sell it from a flyer. You can announce it in a flyer. I could see an art auction being announced, for example. Or an estate liquidation. But selling a $3000 piece of art from a flyer? Hmmm, nah.

    Recently there was a high end car dealership that drove their newest model parking it legally in front of targeted homes of wealthy people, I think they were also previous owners of the brand and/or competing brands (so there was some heavier duty filtering), snapping an image, printing it on site merged into a piece with the suggestion of how great this car looks in your driveway, won't your neighbors be envious kind of thing, slipping it under the home owner's door, quickly rinse and repeat blanketing selected homes in the neighborhood.

    Though the end intent obviously was to sell cars, it only invites the home owner to visit the website, which in turn, tries to sell them on coming in for a test drive. 99% of people who test drive car end up buying it, so the test drive is the goal.

    The piece was succesful in getting visits to the website. Whether or not this translated ultimately into sales, who knows? That would depend on so many other factors.

    But that's the idea: to get the right prospects into the sales funnel in the first place.
    Signature
    "Best book on answering objections I have seen... it's for photographers but it has brilliant techniques you can use in any business." - Claude Whitacre. When They Say That, You Say This (Amazon Kindle)
    {{ DiscussionBoard.errors[7812298].message }}
  • Profile picture of the author tpgrm
    I was going to add my two cents as to why this is a bad idea, but if you haven't figured that out already, I doubt my input would change anything, but here are some quick thoughts.
    • "The rich", typically have their guard up for predatory guys just like you.
    • Let's say you do come up with an idea, do you have the operating capital necessary to hang with these guys? - I doubt it
    • The best you can do is go after the nouveau-riche, they typically spend less wisely than old money.
    Do yourself a favor, go back and re-read TyBrown's post. He's actually trying to help you.
    {{ DiscussionBoard.errors[7816395].message }}

Trending Topics