Marketing to HNW Individuals

[insurance_jon]

I have a good selection of products which suit High Net Worth Individuals, which although are outside our usual core insurance products, are damn good, and could lead to more sales in our core area.

But traditional marketing methods either don't get the results in aquiring these type of clients, and I don't want to waste loads of cash in experimenting. Any pointers? Or if you are a HNW client, what would prompt you to enquire about any of the following:

Yacht Insurance
HNW home/portfolio insurance
Aviation

What are the best HNW magazines?

All help greatly appreciated

[Plotloss]

what we're finding, operating in a similar market is that the proper players have people who arrange this sort of thing for them.

we've been drafted in on some properly big gear recently and every time we've been at least two steps away from the actual end user.

which in itself is a double edged sword.

[guyh]

insurance_jon said:

I have a good selection of products which suit High Net Worth Individuals, which although are outside our usual core insurance products, are damn good, and could lead to more sales in our core area.

But traditional marketing methods either don't get the results in aquiring these type of clients, and I don't want to waste loads of cash in experimenting. Any pointers? Or if you are a HNW client, what would prompt you to enquire about any of the following:

Yacht Insurance
HNW home/portfolio insurance
Aviation

What are the best HNW magazines?

All help greatly appreciated

Seeing the company name on a Lambo race car? :-)

[insurance_jon]

On my latest case we were recommended, but still only dealt with the PA, and only met with the client on the day we were appointed. The plus side is you get the info you need quicker usually as HNW people tend to be too busy to sort it out, the downside is you don't get to sell yourself directly to the client.

I need ways to either contact the PA's, or network in with companies that compliment ours without competing which is also hard.

[insurance_jon]

How much space do you get for 500 quid?

[Mattt]

PHer Elms is/was a contributor to Lusso Luxury magazine, might be a start.

[Plotloss]

insurance_jon said:

On my latest case we were recommended, but still only dealt with the PA, and only met with the client on the day we were appointed. The plus side is you get the info you need quicker usually as HNW people tend to be too busy to sort it out, the downside is you don't get to sell yourself directly to the client.

I need ways to either contact the PA's, or network in with companies that compliment ours without competing which is also hard.

i think thats the crux of the matter, its all about recommendations, there is no amount of advertising as such that will break into it. we've assessed all sorts, lifestyle mags, high end mags, luxury car dealer mags and none of them have had any massive penetration into what, depsite what many would have you believe, is still a very small group of people.

[guyh]

insurance_jon said:

How much space do you get for 500 quid?

PM sent

[insurance_jon]

cheers matt, I'll give dion a bell.

[jeremyc]

How about partnering with wealth management service providers?

Perhaps give them another element to their offering and cut them a share of the business/introductions they bring?

[insurance_jon]

The ones I've spoken to seem to do it already. But it's worth a go, just need to find all the wealth management peeps in my area. any clues?

[ingelow]

Plotloss said:

what we're finding, operating in a similar market is that the proper players have people who arrange this sort of thing for them.

I'd say this is pretty much on the money.

Is yacht insurance something which owners are receptive to marketing wise? Might be worth getting in touch with the various concierge services instead - I'd imagine the guys on the Centurion desks would be a pretty good source of knowledge even if they don't take your service...

[Andrew[MG]]

For yacht owners you could try this chap http://www.pistonheads.co.uk/gassing/topic.asp?h=0... I'm pretty sure there are some other dealers on here too.

[dcw@pr]

Mattt said:

PHer Elms is/was a contributor to Lusso Luxury magazine, might be a start.

Yes he was, unfortunately he's too busy nowadays!

Bebs has written a column or two for us as well, one in the issue that has just come out.

[Justin Miles]

Interesting thread.... I've been having this debate in the TS4F office for weeks now.

I don't have anywhere near the same product/service, but we often have a supply of luxury cars available, which begs the question "how do we market our proposition?"

The answer comes down to recommendations.

The hard part is breaking into that "circle" to start with... once that seemingly impenetrable ring is broken it should be easier.... I hope!

Good luck

Justin

[scotal]

Justin Miles said:

The hard part is breaking into that "circle" to start with... once that seemingly impenetrable ring is broken it should be easier.... I hope!

We've found that if it relates to finance HNW clients tend not to talk about what they are doing with each other.
(BTW jon there are a lot of IFA's who claim to only deal with HNW clients. With a very few exceptions this is bullst, there arent enough clients to go round, so make sure you are separating the wheat from the chaff)

[shadowninja]

Hope this isn't hijacking but how would you market more personal/one-to-one services (eg life coaching) to such people?

[scotal]

shadowninja said:

life coaching

What is life coaching? PM me if you like.

[shadowninja]

scotal said:

shadowninja said:

life coaching

What is life coaching? PM me if you like.

I wasn't really asking about life coaching but any one-to-one personal service of a non-sexual nature.

[skwdenyer]

For both "threadlets", is there mileage in partnering with companies such as TenUK, Quintessentially, and so on? From the outside, they seem to be the sort of businesses whose role it is to "make it so" on a number of fronts.