Unique niche products and services is the number one demand for people, especially in this recession. But who is the most desirable target market for businesses to offer their products to? The rich. Why?
Although the rich can be more demanding than most customers you’ll face, the things that make them the most desirable to offer products and services to is extensive. But the obvious advantages is you know they can afford your product or service. Other powerful advantages to offering your product or service to affluent people are…
– They make great repeat customers!
– People are more influenced by what rich people buy. That can influence them to buy too.
– Rich customers can recommend you to friends and family who are also rich in most cases.
– Once you sell them, rich people are loyal (provided you continue giving them quality products and service).
– They love to shop and buy unique and interesting products and services. Your job is o help them find it.
– Rich people are less influenced by recessions and economic downturns. So will you if you sell to them.
These are the main reasons why you should create or find niche products or services to offer rich people. Even if you’re selling to people on a budget now, you’d be wise to offer premium products or services that would attract a richer client too. Follow the example of many lucrative businesses. For example, the auto, hotel, airline and food industries. Most offer products and services for the budget minded as well as the luxury minded. Ford offers economy cars but they also offer Lincoln Continental, Marriot offers rooms for the budget minded as well as Luxury suites.
Here’s 3 Simple But Powerful Ways To Create Niche Products or Services For Rich People:
Create or Find A Niche Product or Service By…
1. Telling Rich People Where To Go.
No, this suggestion is not what you think at first glance. Although we’ve all wanted to tell an obnoxious rich person where to go, this suggestion can make you money. Rich people are always looking for the latest. For example, the latest hot spots to vacation, to eat, to shop. In fact the list is endless. A quick way to get your feet wet or to place a foot in the door is to create a specific list that tells rich people where they can vacation, travel shop or eat, etc. Rich people love list. Why? Because it saves them time. And one thing rich people hate to do is waste time.
2. Finding Out What Rich People Hate To Do = Dollars.
A rich man once told me, Roy the secret to getting rich is to find out what people hate to do and find a way to do it for them. So find out what rich people in your target market or area don’t like to do, find irritating or disgusting, and charge them to do it. Here’s a bonus tip. If you have a business, find out what your competition doesn’t like to do for their rich customers and you start doing it. You could literally steal rich customers from your competition overnight by following this simple tip, I’ve seen it happen more times than I can count.
3. The Magic of Adding Something Extra.
This is one of the easiest yet most powerful and quickest ways to create a niche product or service for affluent customers. Why? Because all you have to do is add one or two elements to an already existing product or service. For example, if you sell pizza you can add extra service your competition isn’t doing that’s geared to the affluent. Like offering champagne, gourmet pizzas or pizza made with organic ingredients.
The powerful magic behind this idea is in adding an extra service, benefit or convenience rich people in your target market or area of expertise would like. This will often take a keen eye, if you don’t have that do a little research and find out what the rich in your target market have a need for and fill it with an extra convenience or service.
Yes, by offering a simple niche product or service to the affluent market you’ll find yourself making 2 to 3 times more with the same or in many cases less amount of work. You’ll find it a lot easier by following the 3 step formula. Those who find it hard to sell to rich people ignore the 3 step formula mentioned above. Now you know.