Jewelry ECOMM Tech
3 Mindset Shifts to Connect with Affluent Collectors September 09, 2021 (0 comments)
From the solopreneur jewelers to those working with a sales staff, we’ve all been conditioned to see luxury through a very particular lens -- but affluence is truly relative.
The very fact that you are reading this on a device powered by electricity and connected to the internet places you in a more affluent category than many in this world.
We all have experiences buying goods or services from people who are less affluent than us where their income bracket is of no importance to our satisfaction.
And the same is true for our affluent collectors.
With these 3 essential mindset shifts, you can begin to elevate your service and connect with affluent collectors easily and effectively!
- There are affluent collectors in your contacts list right now.
While billionaires make up less than one-tenth of one percent of the world's population, millionaires make up more than 8% of those in the U.S. and nearly 6% of Canadians.
Jewelers often don’t realize how many affluent people they’re already in touch with on a regular basis because of our society’s perception of wealth.
Some likely millionaires within your community could be:
- Board members of your favorite charity
- The owner of that chic salon downtown
- Administrators at your children’s school
- Your neighbor who’s into stocks & crypto
- Doctors, lawyers, accountants, and more
- You have more in common with affluent collectors than you think.
Your average millionaire isn’t nearly as flashy as a Kardashian…
While they certainly enjoy the finer things in life, they are more likely to own a pool than a yacht and more likely to fly first class than hop on a private jet.
They don't make thousands of dollars every hour off of their investments and are often busy.
Wealthy buyers are more interested in the problem you’re solving than the product you're selling and value your business based on the hours you’re saving them and the capital that represents.
What might be common knowledge or a few minutes of research for you could equate to hours of Googling for them, which is why white-glove concierge-style service is so important.
They have more money than time but fewer people who can truly meet their service needs -- and with the right approach to relationship-building, that’s where you come in.
- You can learn to think like the affluent (even if you yourself are not).
When that little voice in the back of your mind asks “who would pay $10K, $20K, $50K for a piece of jewelry?” it’s not just self-deprecating, it judges the affluent who would pay that (and easily more!) for a piece of jewelry.
Examining the money stories that you were raised with is an important step in coming to understand that different people have different relationships with different zeros.
Flip through a luxury lifestyle magazine such as Town and Country, and you’ll see that most millionaires have a money mindset that differs in small but significant ways.
While connecting with affluent collectors may not seem natural at first, it’s a skill that can be nurtured like any other in your business.
At the end of the day, your affluent collectors don’t care if you can’t afford the same designer clothes and luxury cars as they can…
But they will care if your own insecurities about not being “high-end” enough are sending you into hiding and affecting your reliability.
Knowing how to navigate those moments with the winning mindset is the key to authentically connecting with the affluent collectors in your contacts list.
Want to know more about how I help elite jewelers and their sales teams add 6 and 7 figures to their revenue by strengthening their relationships with affluent collectors?