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EXCELLENCE & EXPERTISE IN DIGITAL MARKETING

The South Florida Interactive Marketing Association is dedicated to educational excellence and expertise in digital marketing. The organization serves as the primary interactive voice in South Florida offering lifelong learning, top-notch networking and professional growth opportunities to marketers in Broward, Miami-Dade and Palm Beach counties.

Few marketers would question the value of engaging with high net worth individuals. But until the past few years, many marketers thought that using digital strategies to target high net worth individuals was a futile effort. Conventional wisdom held that digital approaches cheapened the perception of luxury goods and travel, and that the high net worth were generally either less engaged with the digital world or more skeptical of it than the average consumer. More recently, as a result of a greater understanding of high net worth digital immersion, as well as new approaches to digital marketing, those perceptions have changed dramatically. Still, reaching the high net worth is a distinctive challenge. This session will look at how Worth magazine has used digital outreach to connect with the high net worth, and provide examples of efforts by others that have both failed and succeeded.

We’ll start by providing a brief overview of the history of digital marketing—or lack thereof—to the high net worth. Why was it widely believed that digital marketing to the high net worth was either largely pointless or, worse, even damaging to the marketer? How much truth was there to those perceptions?

Then we’ll look at why the landscape started to change and when. How much did the development of new approaches open the gates to digital strategies to reaching the high net worth, and how much did a greater understanding of who the affluent are and what their digital habits are drive marketers toward greater experimentation? I’ll provide some early examples of campaigns and techniques specifically targeted at high net worth individuals.

Of course, I’ll talk about the experience of Worth magazine in the digital world. In print, we have a readership with a minimum liquid net worth of $5 million, with 60 percent of our readers possessing a liquid net worth over $10 million—a fantastic audience for brands trying to reach those consumers. But there were challenges to replicating that audience in the digital world. I’ll go over what they were, and how we’ve addressed them. And I’ll also discuss the techniques that some of our partners have used—and draw conclusions about what seems to be working.

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Chris Salerno

Digital Strategist at Microfile
Chris Salerno is a digital strategist providing marketing solutions for your business at Microfile and is the blogger behind The Micro File Blog where marketing strategies and tips are discussed. Feel free to send Chris a message here.
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