Written ByCompetition in the luxury travel industry is incomparably tough. In this industry, not only do you need to know your audience inside-out, you also need to know where they want to go and how they want to get there.
No detail is spared with ultra-high-net-worth-individuals (UHNWI’s). It is a luxury brand’s job to know who these people are and the standards they expect.
To set expectations, UHNWI’s are defined as having assets valued at more than $50 million.
To succeed in luxury marketing, brands need to understand and cater to their niche audience. UNHWI’s expect high-end, curated experiences. And this expectation means they are willing to pay for the luxury service.
In a survey conducted by Tiger 21, results presented some clear trends within the luxury industry. Over 50% of those interviewed expressed plans for international travel for their next getaway. The means to travel shows the rising popularity of private jets, with over 12% of participants expressing plans to use a private jet.
Incorporating strategy that caters directly to the UNHWI audience will go a long way in making your brand a go-to for luxury travel, boosting bookings in the process. Here are some key elements to consider:
Content marketing is a powerful tool to engage and influence UHNWI’s by showcasing the unique experiences and offerings of luxury travel brands.
It goes beyond mere promotion, instead focusing on providing valuable and relevant content that resonates with the target audience. High-quality blogs, articles, videos, and stunning visuals can be leveraged to highlight exceptional destinations, insider tips, and exclusive experiences.
By offering UHNWIs a glimpse into the extraordinary possibilities that await them, luxury travel brands can position themselves as trusted authorities and go-to resources for their travel aspirations.
To effectively execute content marketing, luxury travel brands should adopt a personalised approach.
Tailoring content to match the preferences and interests of UHNWIs ensures that it resonates deeply with them.
Our work with Porto Montenegro on their stunning new website exudes luxury on every page. Their team have utilised a blog space on their website to establish their authority on luxury events and place themselves at the centre of it.
In the realm of luxury and travel, social media platforms provide a gateway to connect with UHNWIs on a personal level. Rather than resorting to overt advertisements, luxury travel brands should focus on fostering organic engagement and authentic connections through their social media channels.
Platforms like Instagram, LinkedIn, and Facebook allow brands to showcase their unique offerings, visually engage with the audience, and initiate conversations.
Creating visually stunning content, sharing captivating travel stories, and providing behind-the-scenes glimpses can evoke a sense of exclusivity and intrigue.
Nearly 7 in 10 of Northrop & Johnson’s UHNWI clients use social media regularly, with their study finding:
UHNWIs are avid social media users who appreciate authenticity and value curated experiences. By leveraging these platforms effectively, luxury travel brands can cultivate a loyal following and become a part of the UHNWI’s digital journey, ensuring their brand remains top-of-mind when it comes to luxury travel.
Location targeting for UNHWI’s includes researching postcodes and towns which have a high-density of high-value properties. Following this, brands must research brands, activities and behaviours associated with their target market. To further pinpoint your audience, you should also target by demographics such as language and age.
By finessing your targeting, you ensure a highly qualified audience that are more likely to invest in your offers.
Storytelling is an art that has the power to captivate audiences, and UHNWIs are no exception. By weaving compelling narratives around unique travel experiences, luxury travel brands can evoke emotions, spark curiosity, and create lasting impressions.
Stories can be conveyed through various mediums such as blog posts, videos, podcasts, or even immersive virtual reality experiences.
To craft impactful stories, luxury travel brands should focus on authenticity and exclusivity. Sharing personal anecdotes, interviews with renowned personalities, and showcasing the hidden gems of luxurious destinations can transport UHNWIs to another world, fueling their desire for unforgettable experiences.
By establishing an emotional connection, luxury travel brands can inspire UHNWIs to embark on extraordinary journeys and forge lifelong memories.
To effectively target the UHNWI market, luxury travel brands must deploy strategies that resonate with this exclusive demographic. Content marketing enables brands to provide valuable insights and position themselves as trusted advisors. Meanwhile, organic social media engagement builds authentic connections. The art of storytelling evokes emotions and showcases the unique experiences that await this audience. By implementing these strategies, luxury travel brands can establish their presence in the industry and cater to the needs of UHNWIs.