WHAT IS HNWI MARKETING?

Reaching the most exclusive of your customers can be tricky. Their networks are highly inaccessible. Yet the value of reaching them, of knowing what services they demand and how their networks function, can be tremendously high. The reasons why the richest customers of luxury companies are so important might not be immediately apparent. Besides their buying power, consider the following:

OUR NETWORK GIVES YOU ACCESS TO THE MIND OF RICH JAPANESE

Our partner agency Root and Partners has access to a network of 7,000 HNWIs, a network that they have built up over 8 years of close interaction with them. The intimate connection allows the company to execute research with a depth that allows brands a close and accurate look into the mindset of the most exclusive customers.

Japan Access provides the expertise in luxury marketing and a deep knowledge of the inner workings of the Japanese market, as well as the cultural difference in messaging and brand perceptions. Together, we provide luxury brands, exclusive hotel groups, agencies and other parties that deal with HNWIs with exclusive, customized and accurate, qualitative and quantitative insights into the minds of your most exclusive customers.

1 _ HNWI Research With our partner agency, we take requests for qualitative analysis, investigating HNWIs through depth interviews. We specialize in their recruiting, moderation, reporting and so on. Using a qualitative analysis we can build a promotion strategy for new products for HNWIs. We are able to create customized research according to the needs of our client.

2 _ HNWI Monitor We take requests for monitor research on new and existing products with exclusive HNWI monitoring. Our partner agency has a monitor of 300 HNWIs for quantitative investigation. We are able to find objective confirmation from HNWIs concerning our client’s supposed hypothesis.

3 _ HNWI Sampling We take requests for sampling promotions of existing products exclusively with HNWIs. We offer sampling proposals of a maximum of 7,000 HNWIs, giving our client diverse criteria of selecting the sample. We will gather their feedback, from interviews and reports, and submit a report back to our client.

4 _ HNWI mystery shopping Together with our partner agency we undertake a covert investigation where HNWIs will visit various restaurants and spas as mystery shoppers. We will answer various needs such as competitive investigation and service penetrator confirmation.

5 _ Club Marketing With a long term contract, we take on requests for creating club members and cultivating loyal customers through proper marketing tactics and strategies. We focus on creating long-term customer relationships for our client.

6 _ Market reports We apply our expertise in brand images and luxury marketing to create customized and standardized market reports on the consumer behavior and brand images of HNWIs in Japan. We can promote your brand and products directly to HNWIs through Root and Partner’s exclusive High Net Worth Mails.

MARKETING CONCEPTS TO REACH HNWIS IN JAPAN

In recent years, many companies have sprung up that offer luxury companies ways to tap the new affluent class, the ‘new rich’ in Japan. Their methods range from high class, exclusive magazines, over collaboration marketing with exclusive credit card companies such as Diners Club, to more sophisticated approaches that include the creation of marketing environments and exclusive clubs and services for a limited audience. Many companies offer a list of HNWIs and grant their clients access to those individuals, others offer concierge services or high-class personel for the execution of events. The quality level of the different solutions varies tremendously, and most infomaterial was available only in Japanese. This section offers detailed information on the different concepts.

INCREASING MARKETING EXCLUSIVITY TO REACH HNWIs

Acquiring customers for luxury brands must be differentiated by wealth level and the customer's marketing exclusivity, meaning the inclination of a consumer to be not receptive for mass marketing environments and mass media. The theory is that the higher the wealth level, the less receptive the customer is to normal marketing channels. The introduced concept of marketing exclusivity offers a way for luxury companies to assess their own customers and to find channels that will be able to establish a connection. It offesr a way of categorizing environments and situations by the differences in marketing activities that are possible there. Marketing is not only created by companies`marketing department. It is created in interaction with the cutsomer. The most exclusive of all environments is personal communication between high-class indivuduals. This exclusive word of mouth is what luxury companies should aim for.

DIFFERENTIATING CONSUMERS BY THEIR SOCIAL NETWORKS

Consumers shop in different ways and they form their opinions prior to purchase in different ways. The social networks that consumers interact with are a major part in creating role-models and social codes that form the context of consumption. The conceot of consumer levels tries a new approach for categorizing luxury consumers, by not differntiating them by wealth level or income, but by their different social networks. We come up with three levels that show different social patterns and incentive structures. The analysis will differentiate between consumer level 1 people who buy products of a luxury company but do not have the assets or income to qualify them for a rich lifestyle, who use luxury consumption as a way to distinguish themselves within their limited social mobility, consumer level 2 people exhibiting a high salary that enables them luxury consumption in certain categories, but not in all, who use luxury consumption to define their way up the social ladder, often within a corporate environment, and consumer level 3 people encompassing both HNWIs and individuals with an extraordinary income, qualifying them for an active premium consumption lifestyle and with access to extensive social networks and connections.