Archive for the ‘Direct Mail’ Category

Today’s Millennials; Tomorrow’s Loyalists

Wednesday, June 21st, 2017

alc_wealth_window_millennials-300x198-1-300x198 copySavvy luxury marketers in search of growth are now targeting millennials – for both short-term gains and long-term relationships. While only a small percentage of millennials can be defined as “affluent,” a larger percentage purchase luxury items and experiences on a selective basis. It’s these consumers that luxury marketers want to attract today…and cultivate for tomorrow.

Beyond their transactional activity, it’s interesting to note that millennials exhibit different behavioral tendencies as well. They tend to be more innovative, entrepreneurial, and opportunistic than prior generations. From an investment perspective, millennials are 2.8X more likely to use or try hedge funds… 3.4X more likely to be serial entrepreneurs… and 5.6X more likely to have achieved significant gains by taking big risks.

Plenty has been written about millennials – and much of it suggests that they are a monolith – but the fact is, these aggregated insights are just that: aggregated insights. Luxury marketers interested in attracting millennials need to be even more precise and exacting to understand which millennials are potential prospects… how much they are likely to be worth today and tomorrow… and which ones are interested in more aggressive investment opportunities. At Wealth Window, we’ve built our audience data to do precisely that. We identify new, emerging wealth that others miss – and the millennials who are gravitating to luxury today.

The right millennial with the right circumstance is available right now. Don’t wait; find them with Wealth Window. Let’s connect.

The Future of Luxury

Thursday, May 25th, 2017

Every day, I talk to luxury marketers. Recently, we’ve been talking about luxury retail. Here’s what I’m hearing…

Retail continues to be transformed. Changing shopping patterns, emerging technologies, and evolving consumer tastes are impacting the way the affluent shop — and what they buy.

New technologies at retail are being tested and refined. Many of these technologies are data driven, including digital identification solutions, innovative mobile apps, and wardrobe assistance driven by machine learning.

Which of these technologies will be broadly adopted? We’ll have to wait and see. But it’s clear that HNW consumers have increased expectations about their interactions with luxury brands – and data is often facilitating these enhanced experiences.

At ALC, our luxury clients are now integrating important insights that go beyond basic demographics and transactional activity, to empower more personalized communications, integrated with new techniques.

In this fast-moving world, we can’t wait for tomorrow’s technology to drive our business today. But, we can leverage a wealth of data that’s available right now to deliver more relevant, personalized communications and experiences.

Finally, if you’re having success with a new technology or an innovative data strategy, please let me know. It would be a luxury to know even more about how to succeed in the future.

Luxury Brands Must Control Their Destiny

Wednesday, April 5th, 2017

alc_wealth_window_luxury_brands-300x198A few weeks ago, it was announced that Neiman Marcus may be acquired by Hudson’s Bay. As we all know, evolving consumer shopping behavior and other factors continue to drive change in the luxury retail sector.

While retailers remain critical to many luxury brands’ success, we’re finding that more brands are taking control of their destiny…

Naturally, retail is key in luxury. It always has been. It always will be. But in our changing world, the more you know about your customers and prospects, the better off you are! There’s an old saying, “Trust in God, but tie-up your camels.” I say, trust in your retail partners, but own your own data!

Seriously, if you’re interested in understanding the benefits and options in having a custom-built audience or licensing data – and giving yourself an insurance policy – I’m happy to help!

The Magic of Q1

Tuesday, January 10th, 2017

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:

 

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.

Report from DMA2014: What’s All the Excitement About – Direct Mail?

Monday, November 3rd, 2014

Direct mail targeting affluent consumers continues to be a key driver of sales in the luxury market.

Direct mail continues to be a key driver of sales in the luxury market.

Twenty years of attending the DMA Conference (The Global Event for Data-Driven Marketers) and I’m still learning and bringing actionable new knowledge to my clients. To that end, allow me to impart some words of wisdom fresh from the floor of the show: Direct Mail is all the Rage!

I spoke with a few happy direct mail solutions providers satisfied with the current business climate. Heard that postal service bureaus are humming along. And besides meeting with rising interest in Wealth Window’s mailing addresses, I noticed increased chatter about straight-ahead direct mail overall.

Rising out of the multichannel buzzscape from retargeting to social strategy, stands the towering pillar of success that direct mail represents in direct marketing. It seems that placing your offer, your catalog or your story into the hands of your audience via their coveted mailboxes remains tried and true to this day.

People still like getting their mail and perusing it at the kitchen counter, on their couch and even in their bedrooms. You see it’s the comforting tactile feel of tearing open an envelope or thumbing through pages of a catalog that can evoke emotion. A majority of consumers even “say that receiving mail is a real pleasure.” That could be why standard mail volume is growing at 3% with marketers spending over $45 billion on this channel through the end of 2014.* And back in the early 2000s we thought email would be the death of us. LOL.

Maybe I’m just selectively perceptive, but I keep seeing articles in defense of direct mail like…

 

As Craig Simpson points out, “Direct mail has a long, proven history as a successful advertising medium. Just because there is a new advertising option available, it doesn’t mean that it will work better [than direct mail].”

In fact, nearly two-thirds of all consumers bought something as a result of a direct mail piece in 2013. Perhaps surprising is that young adults are highly responsive to direct mail. How could that be? I say that because they are bombarded by email, spam, texts, digital ads and social media, they just find direct mail to be more personal.

I’ve always known direct mail to be a key driver of sales in the luxury market. Wealth Window has been serving up the postal addresses of high net worth consumers to upscale marketers for over 36 years. Luxury Daily points out that, “Luxury marketers continue to use mail because it works and because it is easier to convey luxury in tactile form. Even Forbes states that, “mail is often the only reliable way to reach reasonably affluent males.”

Direct mail continues to perform for my mailers in every major luxury market including:

 

The digital age has ushered in a lot of big data, marketing metrics and real-time audience intelligence, which is making a huge impact on direct mail marketing as well as digital display, email, social and mobile. I strongly recommend conducting multichannel campaigns and fine-tuning as data streams in. Direct mail has always been data-driven and is designed to benefit from all the useful data it can get from targeting to creative strategy.

Now with information gathered from new media, we have more actionable insights about our customers than ever. But let’s not lose sight of the fact that the most effective direct marketing is very personal, and it does not get more personal than placing your relevant brand message right into your next buyer’s hands.

 

* Source: DM News, “Direct Mail Remains Impactful”

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