Reaching a high net worth audience has been a challenge for marketers, however mobile is increasingly proving to be a valuable tool in a marketer’s armoury when trying to reach and engage with this audience. So how exactly can brands effectively reach this valuable audience using the mobile channel?

Reaching high net worth individuals is challenging through any channel due to the time poor, on-the-move nature of this audience who are typified by having gatekeepers tasked with filtering out anything that can eat into their valuable time. However mobile is providing unique access as it’s one of the only channels that bypasses the gatekeepers such as PA’s, voicemails, fast forward and web filters and gets directly in front of the high net worth consumer. But getting in front of this audience is only the beginning of the journey. Creating a successful mobile campaign to this audience needs to take into account a number of factors.

Understanding your mobile targeting options

Traditionally the most accurate targeting on a mobile has been through direct SMS or push messaging. Advances over recent years have meant that Rich Media Text can facilitate the use of video, increasing opportunities to use engaging content.

Increasingly advertisers are being given the tools to accurately target individuals through in App display. This is a less personal approach to mobile marketing but it can help soften the message if applied in a native environment. Once you truly know your target market profile you can strategically place advertising within complimentary apps at a specific time in order to maximise impact.

Choosing your approach is wholly dependent on what data is available and how accurate it is. The consequences of getting your targeting wrong with an SMS message for instance could fail to show the respect you have for an audience who are used to high service levels. Getting it right however can reap some very profitable rewards as many luxury automotive manufacturers are finding.

The alternative of in-app advertising is a great way to capitalise on brand associations. The ability to carefully pick which apps display and which audiences can see your ad coupled with ever more engaging ad formats make this approach a great way to achieve scale without too much intrusion.

Of course it doesn’t have to be an either/or scenario. Some of the best campaigns combine the two for maximum exposure. Intelligent mobile campaigns use text based communications to target specific individuals and then use the insight gained from that communication to identify the profile of responders. This information is then used to select who to serve in app ads to. Alternatively brands can use in app advertising to create awareness and start engagement, then communicate a more direct message to these individuals by text.

So, you have chosen your channel but what are the ingredients for a successful mobile campaign to this audience?

Get to the point - fast

This audience is time poor so long copy and long sign up procedures really isn’t going to cut it. As a mobile marketer, you have no more than 10 seconds to grab the attention of the consumer and then a further 30 to 60 seconds to positively engage. In order for a campaign to be successful, copy needs to be concise and engaging with strong benefits and a call to action. Importantly, any call to action shouldn’t require a huge time investment for the recipient so opt for pre-populated forms and intelligent data capture to prevent abandonment high abandonment rates.

Quality (and consistency) are king

There is no doubt that the high net worth audience place quality high on their list of requirements, so not only does the product being sold need to reflect quality, the execution of the campaign needs to support this. If any part of the mobile experience fails to deliver quality for the user it’s unlikely to get a positive response, not to mention produce negative brand associations that can long outlast the lifetime of your mobile campaign. Of course, there are many elements to a campaign, so having a sleek video and fabulous mobile execution is all well and good but if this isn’t supported by a professional customer service team, the effort and investment is wasted.

Design for mobile

Mobile brings its clear advantages in terms of achieving cut through with this hard to reach audience but it also comes with limitations. In keeping with the elements of customer service, care must be taken to understand how the brand experience converts from the marketers mind into the consumer’s hand. Is the screen big enough to show that content? Is the consumer likely to complete that amount of information with one finger typing? Is the content anything different from what they have seen in print, TV or outdoor? In my experience, the biggest failure of luxury brand communications on mobile is not remembering they are on a mobile and not adequately adapting campaigns delivered through other channels.

Value Exchange

So you understand your audience, you understand the requirements of the channel, the main challenge now is engaging with the consumer. Having a value exchange for this audience is not only a good idea, it’s a prerequisite. In most cases high net worth individuals want to feel as though they get a better service. Anything that can make the high net worth customer feel like they are receiving special treatment will increase your chances of engagement. In the mobile media world, that means exclusive content such as private invitations to exclusive events, previously unseen content, mobile first content or bespoke offers.

It’s clear that mobile can be a highly effective way to target this traditionally difficult to reach high net worth audience, but only if planned and executed correctly. As a channel that has unrestricted access to this audience and the ability to engage and importantly, drive a response, there is no better way to reach the high net worth audience.

 

By Jeremy Saul, Head of Mobile at DLG – PDV. 

 

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