The Magic of Q1

Tuesday, January 10th, 2017
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First, I hope you had a Merry BIG Christmas. I am overjoyed that so many of our Wealth Window clients reported a strong season!

As you begin 2017, I suggest you take advantage of what I call, “The Magic of Q1.”

Our experience shows that Q1 is a terrific time to test: a new strategy, a new audience, and a new channel. In fact, January and February are two of the best performing months for marketing. Additionally, if your new strategies prove successful in Q1, you can benefit all year. Conversely, if they underperform, you can cut your losses quickly.

When it comes to testing, we suggest a “Structured Spending” approach for many luxury brands: 70% of your dollars go to what has proven to work; 20% is invested behind strategies that show real promise; and 10% is allocated to dramatically different approaches that have the potential to deliver vast improvements.

Here are a couple of exciting ideas we’ve seen work for our clients:

  • Leverage an omnichannel approach. Studies consistently show that reaching the same luxury prospects via multiple channels can deliver a 25% lift and significantly higher spending. Wealth Window offers custom-curated audiences you can reach via direct mail, email, social, mobile and display.
  • Tap into the power of influencer marketing. Marketing to those who influence your current customers and prospects – their family, friends, business colleagues, and neighbors – can be an extremely effective way to build scale. ALC Wealth Connections helps you do exactly that!

 

Thankfully, as we enter 2017 things are looking bright. The market remains strong. Consumer optimism is high. And government policy should be advantageous for luxury brands.

Yet since markets and consumers can be fickle, you won’t want to lose any time testing innovative strategies in Q1. I’m happy to help in any way I can to ensure you experience a magical first quarter.

 

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