Unity Marketing and the American Affluence Research Center are teaming together to launch a new study into the mindset and lifestyle of millionaires: high-net-worth and ultra-high-net-worth consumers.
This new study, Millionaire Market Monitor, will deliver new insights to marketers that target the wealthy, according to the research firms. The two firms bring together their specialized expertise as researchers probing the affluent market segment to focus on consumers at the very pinnacle of the income and wealth pyramid. These customers represent the ultimate high-powered, moneyed customers for luxury marketers and bespoke service providers.
The results will include research-based facts and figures of priorities, values, and concerns of the wealthy that will translate into:
• More effective marketing communications and branding messages
• New opportunities to serve the unmet needs of the wealthy with new products and services
• Strategies for targeting the truly wealthy
Unity Marketing's Pam Danziger contributes her expertise in consumer questionnaire design, analysis and communicating research findings and American Affluence Research Center's Ron Kurtz brings more than 10 years of experience surveying the wealthy using a proven survey methodology that combines effective targeting of HNW households using a survey instrument that maximizes response.
"As researchers focused on the affluent consumer segment, Ron and I have crossed paths often over the years. We've competed and challenged each other and ultimately passed clients back and forth," Danziger said. "We decided that the time was right to bring our talents to bear on a special challenge for marketers that target the wealthiest and most affluent consumer segments. These customers are an extremely difficult group to study, yet success in marketing comes by understanding the customer. It's just that understanding the wealthy brings special research challenges."
According to Danziger and Kurtz, information that can be derived from the study includes:
• Millionaire's investment and money management strategies
• Consumer purchases, what they buy, what they spend on their homes (furniture, decorating, art), themselves (fashion, jewelry), and others (gifts and gifting)
• Brand awareness, brand usage, how brands influence them in their purchase decisions
• Shopping behavior, where they shop (online vs. in store), what shopping experiences they like most, their favorite stores and places to shop
• Lifestyles, aspirations and where they invest their time and money (travel, collecting, wine & spirits, country clubs, philanthropy, culture and the arts, health & wellness)
• Attitudes and values (what luxury means to them, financial values and financial well being, attitudes about spending vs. investing)
• Role of internet and social media in their lives, how they stay current and their media habits
• Demographics of millionaires, HNW and UHNW and key distinctions and differences (employment, gender, age, homes)
Sponsors can help define the goals and objectives of the Millionaire Market Monitor study by clicking this link and casting their vote about what information they want to know about millionaires. Potential sponsors can request a prospectus that will describe the Millionaire Market Monitor study and how they can benefit by being one of the study sponsors.
For more information, visit affluenceresearch.org.