A View from the Top: Learnings from the Luxury Insights Summit

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Regardless of wealth, we all buckled down during the recent recession. But the economy has rebounded and there is endless opportunity for luxury marketers. There’s one caveat. Luxury marketers must be strategic in their approach and most of all, truly focus on the consumer. The era of the aspirational consumer is gone. Now, luxury consumers demand your full attention and welcome personalization and customization.

At yesterday’s Luxury Daily Luxury Insights Summit, we all walked away with a wealth of knowledge (no pun intended).  Cara David, managing partner of YouGov, presented some key findings from the Survey of Affluence & Wealth (YouGov/TimeInc). The key themes included:

  • A Global Affluent World: Global wealth was $263 Trillion in 2014 and is estimated to be $281 Trillion in 2015. And, more than 3/4 of that wealth is help by the top 10%.
  • Fear of Edges: Qualitative concerns dominate the world of affluence, including unquantified risk, social justice, economy, and political corruption.
  • The Time Has Come: There’s an estimated 6.6% increase in luxury spending in 2015. In fact, 42% of global luxury consumers are looking forward to buying luxury goods and services more than they did a year ago.
  • Enlightened Choice: There has been a journey from blind consumption to enlightened choice. Now seeking craftsmanship, value, service, and true uniqueness.

So, what’s the next big thing in luxury marketing? Reciprocity. By reciprocating with consumers, marketers are personalizing their experience and empowering the consumer to customize as well. Nearly 60% will consider a brand when messaging, websites, and apps are tailored to them.

Quoting Cara, “Luxury is a necessity but brands are not.”  Whether in denial or not, brand loyalty is dropping, as luxury consumers have become brand immune. That’s why targeting your audience, using insights to best understand them, and tailoring your outreach is critical. Make it your business to get personal.

Are you finding that personalized messaging is helping you to gain a larger share of the market?

Cool Vendors in Data-Driven Marketing 2015

Hello, marketers! It’s that time of year again — you know what I mean, when the birds are a-chirp, the pollen is high, and the coolest of the cool emerge from their cabanas and give the world a full-throated hiya.

We here at Gartner for Marketing Leaders Data-Driven HQ were hard at work in 2014 and early 2015, culling through nominees, isolating claims, evaluating startups and some more established players on that ineffable spectrum of Coolness that can only be summed up in the satisfying phrase: We know it when we see it.

You Can Be Smarter Immediately: WealthEngine API for Real Time Intelligence

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Customer intelligence can be the #1 differentiator – what sets you apart from competitors, what drives long-term brand loyalty. Now, consider it with real-time access. Bam!

Take this scenario: A customer purchases an item at your high-end retail store. You have their client record but you now use the WE API and immediately know their net worth, income, and real estate value. In a matter of seconds, you can start thinking about how to tailor your customer’s experience, deliver upgraded concierge services, and promote a premium line.

There are millions of transactions every day where the prospects ability to pay, donate, or invest can have a big impact on the marketing or customer management approach. Pretty much any big-ticket consumer purchase would fall into this bucket: car purchases, house purchases, vacations, luxury items, on and on. Broadly speaking, the WE API can play a valuable role by providing financial capacity insight into any of these transactions.

Developer implementation is easy. It’s a self-service process at launch.

  1. Go to dev.wealthengine.com
  2. Review our dynamic documentation
  3. See sample applications
  4. Sign up, test the API using dummy data via the sandbox
  5. Implement an application using the sandbox

At Launch

API delivers customer insights when any combination of Name and Address, Name and Email address or Name and Phone Number are provided in the API call.

What’s Coming

Enhanced insights will continually become available to develop more robust profiles and capabilities. A customer doesn’t need to reach out to a sales representative until they are ready to upgrade to a production API plan that will provide real WE data.

Start Now 

Anyone may register for the WE API, by clicking on “Register”

Questions?

There will be a customer care or tech engineer on call for ongoing support.

Tony Glowacki is new Co-Executive Chairman, Mark Logan announced as new WealthEngine CEO

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This week, a few exciting changes were announced at WealthEngine headquarters. Tony Glowacki, WealthEngine’s CEO for the last fifteen years is now Co-Executive Chairman.

Mark Logan, WealthEngine’s COO & President will now be CEO for the wealth intelligence and predictive analytics solutions provider.

Here is Tony Glowacki’s letter sent to clients and partners this week…

Continue reading “Tony Glowacki is new Co-Executive Chairman, Mark Logan announced as new WealthEngine CEO”

How Customer Modeling Helps Buccellati

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There comes a point in time when every business decides to expand outside of its current geographic boundaries. Local banks becoming regional banks. A retailer opening new boutiques. A real estate agent targeting buyers and sellers in new neighborhoods.

Expansion comes after initial success

It comes from knowing that what you supply – product or service – is in demand. So instead of starting from scratch and employing the tactics you used when you first launched your business, invest in analytics and data modeling so you can laser focus on finding those prospective customers within the boundaries of your expansion who look like your current customers.

Continue reading “How Customer Modeling Helps Buccellati”

Opposites Attract: Hot Topic, Cool Vendor

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There’s a lot of hype around data driven marketing – and there’s certainly a lot of companies that claim they have the services you need to drive a data driven marketing strategy. But what does that really mean?

We know it’s about using unique data to remove the guesswork so you, as marketers and fundraisers, only engage with people most likely to buy, invest or donate.

Bottom line – it’s not just about data either. It’s about powerful insights that allow you to deliver value by engaging customers and prospects more effectively. Whether fundraising, marketing a luxury brand, or targeting affluent investors, you should be able to answer these core questions…

  • Do they have the money to buy, donate, or invest?
  • Do they have the affinity & lifestyle to align to the product or cause?
  • Is now the right time to engage them?

Technology and solutions are moving at a warped speed, so it’s critical that you don’t look in the rear view window, but focus on the signals of what’s coming in the future. What type of analytics should you use? How can I integrate new data it into my current platform? How do I leverage the insights to develop a strategy that drives ROI?  

Well, we have news for you.  WealthEngine has some pretty cool solutions and we’re not the only ones who think so. According to a recent report published by Gartner, the world’s leading information technology research and advisory company, WealthEngine is among five vendors named a “Cool Vendor in Data-Driven Marketing”.  We know we were recognized for approaching the data-driven marketing landscape with innovative technologies and unique data analytics warranting attention from prospective customers like you.

*Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Gartner Recognizes WealthEngine as Cool Vendor in Data-Driven Marketing

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WealthEngine Named Alongside Five Emerging Companies Providing Innovative Data Analytics Solutions for Data-Driven Marketing

WealthEngine (WE), the leading provider of predictive marketing analytics and audience development services, has been named a Cool Vendor in Data-Driven Marketing by Gartner, Inc.  This year’s Gartner Cool Vendors report highlights five emerging companies including WealthEngine that approach the data-driven marketing landscape with innovative technologies and unique data analytics warranting attention from prospective customers.

This year’s report uncovers a new generation of marketing analytics applications that provide nimble solutions to persistent problems, such as how to find and rank prospects or measure the impact of social marketing. Gartner develops these annual Cool Vendor reports to help digital marketers and organizations filter out hype; hone in on worthwhile innovations, and identify those vendors that are inflection points in market evolution. Many of the more than 400 Cool Vendors that Gartner profiles are developing innovative solutions at the nexus of the latest trends in digital, social, mobile, and analytics to challenge long-held assumptions and affect IT investment.

“It’s an honor to be recognized by Gartner” said WealthEngine president and chief operating officer Mark Logan. “The Cool Vendor report is a distinguished and well researched publication. We consider this recognition as a testament to our exceptional SaaS solutions, wealth intelligence, and happy customer base, and are proud to be listed among other companies such as 6Sense, CivicScience, Lytics, and Quantifind,  that are transforming the ways organizations operate and engage with today’s technology.”

WealthEngine aims to increase the revenue of its clients by connecting them with the customers most likely to donate, buy or invest. WealthEngine combines proprietary, public and third-party sources of data to build detailed profiles of affluent individuals who are likely prospects to contribute to nonprofits, purchase luxury products or invest in financial services. Ultra-segmented audiences can be identified and targeted using wealth, demographic, lifestyle and personal attributes across a database of more than 210 million people in the U.S.

About WealthEngine
WealthEngine™, Inc. is the leading provider of predictive marketing analytics, audience development and wealth intelligence services to nonprofit organizations, financial services, and luxury brands. Approximately four thousand clients use WealthEngine’s products and solutions for comprehensive consumer insights. Headquartered in Bethesda, MD, WealthEngine serves both the United States and the United Kingdom. For more information, please visit http://www.wealthengine.com

Press Contacts
Michael Lock, Allison+Partners | 202.756.7246 | wealthengine@allisonpr.com
Jackie S. Graziano, WealthEngine | 240.483.4912 | jgraziano@wealthengine.com