Start Date:
Monday 25th October 6pm (UK BST)
Working with
High Net Worth Clients
4 Week Programme. 100% Online Live Classes.
Suitable for Luxury Professionals at all levels.
Learn how to interact and build relationships with High Net Worth Clients. Understand how the language you use impacts both trust and sales.
Learn the formula to make small talk in even the most awkward situations. Explore the different categories of wealth and the expectations that go with each and finally learn how to play the negotiation game with high net worth clients.
A completely different expectation
It does not matter what you sell, whether it is luxury cars, luxury properties or a luxury service, working with high net worth individuals (HNWIs) is a completely different ballgame than working with the mid-market.
HNWI’s are highly skilled, digitally savvy and spend a lot of time online, they’re well-read and extremely selective on which brands they share their personal information with, whether that is sharing on social media or online in general.
This informative training will give you insights and actionable steps you can take to build relationships, engage with and sell to High Net Worth Individuals.
Understanding the behaviour of HNWI's
The key to working with High Net Worth Individuals (HNWIs) is in understanding their behaviour as consumers.
A good starting point is to look at the brands they currently buy from e.g. Apple, Aston Martin, Mercedes, Rolls Royce, Mont Blanc, Rolex etc.
Studying these brands will give you valuable insights into what these individuals expect from their buying experiences and how you should match these experiences.
HNWI's can be contradictory.
The buying behaviours of affluent individuals can be confusing and seem contradictory at times.
For instance, they enjoy high-end products but also every-day items. They will spend thousands on one thing but negotiate over £10.
They like traditional values, meeting in person and are very loyal to a brand that has given them a great service. This is where common misconceptions produce ineffective communications.
Course Outline
History of Luxury & Different Luxury Categories
Understanding the history of luxury going back to ancient Egypt and Ancient Rome and how it has eveolved to the present day.
Taking a look at different categories of luxury. Is affordable luxury really a category or is it mid-market brands trying to elevate their product?
Categories of Wealth & Their Expectations
Every wealthy individual falls into a distinct wealth category and whilst we tend to lump them all together and call them High Net Worth, this is technically correct.
We will look at the different categories of wealth and how expectations change with each one.
The Language of Luxury & Psycholinguistics
Luxury has a language just like any other profession. Speaking it makes you more credible. Imagine going to a lawyer who used surfer language or meeting a surfer who spoke like a lawyer! There would be a disconnect that made you do a double take.
Psycholinguistics is understanding the use of language. Can your choice of words really influence peoples behaviour? Yes, they absolutely can.
Building Relationships & Negotiating with HNWI’s
The wealthy love to negotiate, it’s a game to them. A game they’re very very good at. It’s also a game that every luxury professional needs to learn how to play.
The key to being successful with wealthy clients is building long-term, lasting relationships with them. We’ll discuss how to do that in the final class of the programme.
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