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TRANSCRIPT
Speakers
James Dean Senior Vice President &
Head of Luxury Practice
WealthEngine
Ben Collier Senior Director, Brand Marketing
The Leading Hotels of the World, Ltd.
Today’s Discussion
• Luxury Market Landscape
• Concierge Marketing
• The Leading Hotels of the World
• Opportunities
• Q&A
WealthEngine
Trusted By
20+ Years Experience
4,000+ Clients
120MM+ Households
2,000+ Unique Attributes
The Luxury Market Potential
Additional luxury
consumers
yearly 10M
THE BUYERS…
Worldwide by 2020 400M
Estimated by 2030 500M
Affluent
($1M-$5M) 13.4M
THE AUDIENCE…
Super Affluent
($5M-$25M+) 1.1M
Ultra Affluent
($25M+)
Spending in luxury
market $1.8T
THE SPENDING…
Spending in
experiential (travel) $715B
Spending in luxury
goods $440B
Source: WealthEngine, CapGemini
87K *Investable Assets
But Increasingly Complex Challenges
Increasingly heterogeneous
affluent customers
Competition amongst
‘luxury brands’
Multi-channel marketing
opportunities
Too much or too little data
Embrace ‘Mass Affluent’
and/or retrench to ‘True
Luxury’?
Limited budgets and the
need for ROI
The Pressure to Be Data-Driven
Report being mistargeted by marketing.“Outreach
clearly shows the brand does not know who I am”
Prefer that marketers use personal info to
improve their experience
96%
75%
Feel pressure to become more
data-driven 78% Plan to implement a big data analytics
solutions in next 2 years 71%
AFFLUENT
CONSUMER
MARKETER
Leaves Marketers With a Choice:
Volume or Insight?
Continue to play the
game of large numbers
and probabilities
Use data and
personalization to
change the odds?
OR
Approach: Analyze, Segment, Engage
Your customers hold the key to
your next prospect
Develop a rich
understanding of their
wealth, behavior and
lifestyle
Engage them in
unique and personal
ways
Target ‘look-alike’ prospects that meet your
detailed ‘Ideal Customer Profile
Increase ‘top-of-funnel’
ROI through micro-
segmentation and
personalization
Test campaigns and
refine
1
2
3
6
5
4
Not all wealth
data is created
equal
Systematic
approach
needed
The Right Data and Approach is Key
Focus only on top tier of wealth
Can’t uncover ‘hidden wealth’
Don’t go beyond wealth data
Actionable data
A lifecycle/agile approach
Measurable ROI
S
Rules of Engagement
INFLUENCE
Use effective channels
to reach highest
potential customers
and prospects
FIND
Use data analytics to
analyze & segment
your customers and
prospects
ENGAGE
Leverage insights to
personalize and
engage your audience
Challenge
• The travel landscape is changing;
consumers are shifting behaviors
• Need to understand current profiles,
to define target audience segments
• Leverage individual and collective
data/insights for strategy and actions
Solution – Concierge Marketing
Customer Analytics
Profiles and segmentation based on
LHW Loyalty Club/consumer data
Engagement:
Email campaign being executed
based on new insights and target
audiences
ROI Analytics
Email results vs. actual
booking/sales
Highlights
Reservations spiked significantly in the $1-$5MM net worth range
Strong opportunity to stimulate this group to spend more
3-4x more likely to be business owners than the general population
More likely to book their travel independently of corporate travel
brokers & represents considerable opportunity for niche marketing
Top 3 popular sports are boating/sailing, hunting/shooting, and golf
Making the venues and media frequented by these enthusiasts some of
the best places for acquiring new prospects and customers
Results
Customer Intelligence Demographic, wealth, lifestyle, business, behavioral
Customer Centric Strategy Personalized luxury experiences & concierge servicing
Strategic Opportunity Groundwork for new branding strategy & planning
Opportunities
DATA SERVICES
WEALTH SCREENING
LIFESTYLE APPENDS
PROSPECTING
Solutions to Support Your Strategy & Budget
ANALYTICS SERVICES
CUSTOM MODELS
SEGMENTATION
ANALYSIS
CIRCLE OF FRIENDS
MARKETING SERVICES
DIRECT MAIL
EMAIL CAMPAIGNS
DIGITAL
We Engage℠
Advanced Data & Analytics Better serve customers with the most advanced wealth
intelligence in the market
New Customer Acquisition Use look-alike models to develop a custom target
audience
Email Marketing Campaign Reach the right audience in the right channel
A strategic solution that is
affordable, easy to execute, and
empowers marketers to achieve ROI.
NEW Solution for Marketers
Today marketing success
lies in having a great
marketing-mix merging
traditional, digital and
social marketing
techniques.
WE EngageSM and
Facebook Marketing