Ultra-high-net-worth individuals (UHNWIs) have more choices. On the other hand, they are also bombarded by requests and sought after by more merchants and service providers than most other people. Also, to protect their privacy and time, they often wrap themselves in layers of supporting teams, advisors, and assistants – they are surrounded by a complex series of spheres of influence.
Most importantly, they tend to be highly educated and highly successful. Their understanding of the business world and its dynamics are dramatically higher than for most. As they can access the best information sources about anything they are passionate about, they tend to know a lot more about everything they are really interested in.
HOW SHOULD BRANDS APPROACH UHNWIs?
Brands need to stand out from the crowd, to appeal to a customer of this calibre. Therefore, different tools should be used. Successful marketers wish for their brands to have immediate stand out to secure brand awareness. Logos and packaging are typical tools – design something recognisable by the eye in a fraction of a second and build recognition time after time.
While there are thousands of private jets in the market, the Vista Members’ fleet are a distinctive silver with a red stripe – a unique recognition of the value and a key component of the brand’s equity. Then, they wish for their brand to hit high on familiarity.
To achieve this, you must stand for something. In our case, the problem is that while all private jets are synonymous with luxury and efficiency, charting a plane is often an unpredictable experience until the flight is done.
PREFERENCE
To hit conversion, brands need to win preference. This is when trust and rationality become key. Providing regular updates on the company’s successes and trajectory is critical –a fine-tuned corporate communications strategy must provide continuity and a sense of transparency. Careful communication also means not talking too much. Respecting clients’ privacy is an absolute priority when providing services to UHNWIs.
Beyond the reassurance of the brand and its carefully considered value proposition, VistaJet sees the brand as a holistic experience. Extending beyond the aircraft and the crew, it includes sensorial detail, which includes the smell of the cabin across its 360 global fleet. Likewise, the cabin colors and furnishings, even the wine choices and amenities, are consistent no matter where in the world you might depart from. Cabin design is carefully considered, so that the moment customers come on board, they already know exactly where to sit or where to leave their items. The brand is not just built through design, but with feelings in mind.
And after purchase, brands focus on retention and referral. To remain a partner in excellence, a brand cannot risk for its products to only be lived as a commodity. So, to ensure memories are created on every flight, the VistaJet brand evolves constantly.
STAY CLOSE TO YOUR CLIENTS
To establish an iconic brand for UHNWIs it is critical to avoid the hype. While the narrative of disruptive technology has been captivating marketers’ imagination for a few decades, VistaJet has embraced digitalisation to support its expert human team in creating an even better personal service. Faster booking systems delivered via an app; a Private Dining solution to reduce food waste; critical technology to manage the complex logistics of the second largest private aviation fleet in the world, reducing repositioning flights and time in the air; all of this means improved service and cost reductions for clients.
But is scale enough to make your brand a leader in the eyes of a UHNWI? No. A leading brand constantly ups its game to keep offering the best in class. A leading brand must also celebrate its people. Starting from its inspiring founder’s history, it recognizes individual contributions across genders, nationalities and expertise. To show the real face of the company – beyond the brand.
By Matteo Atti, Chief Marketing Officer at VistaJet, the global business aviation brand
