I recently read an article on Forbes called Marketing to the Super-Rich that advised brands to be thought leaders in their categories and to target influencers of UHNW consumers like wealth managers or their family office.

This got me to thinking about how a lot of tactics for targeting the ultra-wealthy are similar to those one might employ in a B2B marketing strategy.

• Micro-targeting — whether it’s with niche publications, highly focused direct mail or one-on-one sales, both B2B campaigns and UHNW campaigns require highly specialized and extremely narrow targeting to be effective.
• Content Creation — we often advise our B2B clients to be content creators. It provides a service to potential customers and establishes the brand’s position as a thought leader.  Whether it’s a blog offering industry advice, an email campaign with trade news, or a series of case studies, content is king. When it comes to marketing luxury products, establishing your brand as a thought leader allows you to become like an advisor to the super rich, particularly if your product is complex or unique.
• Exceptional Customer Service — Many non-luxury brands are starting to get up to speed in this game, but in both the B2B world and the UNHW world, customer service must exceed all expectations, and even be anticipatory in nature.
• Influencing the Influencers — when you’re a B2B marketer, your target audience is often not the end user. Usually there are multiple points of contact and barriers to entry along the road to a sale. In the case of the Super-Rich, there are often professionals advising them or even hired purchasers making the final decision. The smartest brands will figure out ways to grab and hold the attention of these influencers.
• The Slow Burn — an architect does not simply select a lighting fixture without heavily researching first. And while an UHNW individual may not hesitate on splurging in the retail setting, many products and services will take some serious research and evaluation before a purchase decision is reached. Yachts, jet exchanges, vacations, and real estate require a great deal of thought and consideration.

Whether you target UHNW consumers or other businesses (or both), you are dealing with a very small world. As the Forbes article points out, there are only 5,625 individuals or families worldwide with $500 Million+ Net Worth and 181, 755 individuals or families with $30 Million to $500 Million Net Worth. B2B audiences are often even smaller pools. That makes getting ahead of your competitors even more crucial. If you’re a luxury marketer, thinking like a B2B brand might give you a new perspective on your marketing approach. It’s obviously not a science, but definitely worth looking into before you plot next year’s marketing budget.