"The likelihood is that your HNWI customers are time-poor people bombarded with hundreds of requests every day. Their time is precious; they don't want it to be wasted. On social media, this means not clogging followers' feeds with off-topic content. I'm sure somebody might want to watch a video from a Premier League footballer making the perfect carbonara. But, possibly, not everyone. And not at any time."
"Paradoxically, one of the best times to be relevant in your customers' lives is during moments of frustration. Our company partnered with FlightAware, a digital aviation company that tracks flights across the world. Using data, the company could identify when customers were stuck at airports due to flight delays. It sent non-intrusive adverts to customers' mobiles during these delays, asking, "How's your flight today?" The campaign performed exceptionally well because it arrived at just the right time, offering a solution when it was needed the most."
Luxury brands must master relevance and respect to build consumer trust. Relevance requires delivering the right message to the right person at the right time and in the right context to drive transactions. High-net-worth individuals are time-poor and will not tolerate wasted attention, so brands should avoid off-topic social content. Website analytics, CRM tracking, segmentation, and clickstream analysis enable brands to gauge sentiment and deliver timely reactive advertising. Engaging customers during moments of frustration, such as flight delays, can be especially effective when messages are non-intrusive and solution-focused. Sports marketing also presents situational relevance opportunities.
Read at Forbes
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