Mindful Marketing (AKA: Relationship Marketing with a mission)
Our job is to help position you as the expert in your field – to be the first people your target audience calls – AND to help you build long-lasting relationships for ongoing referrals. Traditional marketing methods have less of an impact on the audiences of today, and there are many new ways to reach consumers. When our clients embrace a Mindful Marketing approach to targeting their consumer, they focus on what matters – both for their brand as well as for their consumer – especially when you are targeting a high-net-worth audience.
Today’s high-net-worth consumer wants to:
- Be heard and understood.
- Belong to a “cause” and contribute
- Feel stable and
- Feel significant
- Be successful and reach one’s potential.
Whether you are targeting the “down-home wealthy”, the professional athlete or the GUCCI crowd, traditional advertising methods don’t typically work with this audience. The solution is to cultivate relationships with people that can introduce you to their friends and/or clients that have money to spend. By developing a meaningful relationship with your consumer, you end up creating a stronger, more resilient brand and a more sustainable bond between you and that consumer – ultimately leading to additional referrals.
Reaching a high-net-worth audience is accomplished through:
- Having a succinct, well-crafted brand (Visual, Verbal & Virtual)
- Finding ways to take care of your consumer and “give” to them (or their causes), even before they become a client
- Identifying your niche markets
- Publicity via participation and sponsorships in newsworthy events, causes
- Positioning yourself as the expert in your field
- Concentrating on Referrals (the closing ratio for non-qualified leads is 10% vs 60% for leads via referral)
- Developing multiple streams of income (books, workshops, additional product lines, etc.)
- E-marketing (SEO, mobile media, social media, e-news, blogs, etc.)
- Establishing referral programs/thank-you programs/vendor rewards programs
According to Forrester Research (http://www.forrester.com/rb/research), the use of Relationship Marketing strategies (both B-B & B-C) contribute to a:
- 23% decrease in cost of sales
- 24% shortened sales cycle
- 27% improvement in customer retention
- 41% increase in sales per sales person
- 55% of consumers would pay extra to guarantee a better experience
- 300% improvement in lead conversion
At its core, Mindful Marketing builds mutually-beneficial relationships with your consumer and creates greater loyalty for your brand. It helps you establish a relationship with your consumer that their friends and family will admire, ultimately allowing new relationships to be developed.