One of the major elements of the Luxury market is the desire. Simple putting a price tag on a product and shouting it around loudly is not enough. Altough the golden rule is:
Anything can be sold to someone if he wants it even though he does not need it, but nothing can be sold that he does not want even if he needs it.
The Principality of Monaco is a niche market with the most millionaires per capita in the World, a unique field of accomplished HNWI. Just to ensure a number the average household has over 3 million Euro (and not to mention the wealth of the ultra-rich).
Why you should Care?
- The Principality is a small & concentrated place
- Even if it is like a “Club”, you will feel the Competition
- Word of Mouth has its own limitation
- It is better to Prosper instead of aiming to Survive
Getting new Clients
- it is not about spending more money
- if you can not close leads you will never prosper in the Principlaity
- it is also about an efficient utlisation of the local, Monaco market specialities
So how can you catch the desire of the people in Monaco? How the Monaco market differes from the other luxury markets? Which are the top mistakes that brands make and how to avoid them?
First of all we need to understand the basics of luxury.
Fact: 99% of opportunities are lost by wrong and bad implementation, these are the cases when the excuse becomes the idea. The truth is that you can capitalize your potential by creating integrated marketing channels. And these does not need big investments. Just think about it, if result cannot be gained from a small budget then what kind of result can be expected from an increased budget?
Discover more about the basics of the luxury market: Luxury 101.
Top 5 mistakes in Monaco & How to avoid them
To ensure you some role examples we have collected the Top 5 mistakes we repeatedly see from foreign brands coming to Monaco. We have also asked some of the Top experts from Monaco as well as from the UHNWI fields to share their personal views, experiences and to offer their advices in order to fulfil your goals.
Discover more about the Top 5 mistakes in Monaco.
If you are looking for more information please feel free to reach us out at firstname.lastname@example.org.
We also invite you to discover our media offer. Thanks to our exclusive members database and the effective use of our sales intelligence, you can easily reduce your sales cycles while you can increase your revenue productivity. No matter whether you target private individuals or corporations in the Principality of Monaco.
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