Jay Leno on Happiness
This is purported to be written by Jay Leno in 2008.

Imagine if you could shift your focus to positive from negative, on what you have vs. what you perceive you lack, on releasing your inner strength to get what you want by being a high performer.  As Eleanor Roosevelt wrote, “In the long run, we shape our lives, and we shape ourselves. The process never ends until we die. And the choices we make are ultimately our responsibility.”

Jay Leno wrote”

‘The other day I was reading Newsweek magazine and came across some Poll data I found rather hard to believe. It must be true given the source, right?  The Newsweek poll alleges that 67 percent of Americans are unhappy with the direction the country is headed and 69 percent of the country is unhappy with the performance of the President. In essence 2/3 of the citizenry just ain’t happy and wants a change. So being the knuckle dragger I am, I started thinking, ‘what are we so unhappy about?”

A.. Is it that we have electricity and running water 24 hours a day, 7 days a week?

B… Is our unhappiness the result of having air conditioning in the summer and heating in the winter?

C… Could it be that 95.4 percent of these unhappy folks have a job?

D.. Maybe it is the ability to walk into a grocery store at any time and see more food in moments than Darfur has seen in the last year?

E… Maybe it is the ability to drive our cars and trucks from the Pacific Ocean to the Atlantic Ocean without having to present identification papers as we move through each state?

F… Or possibly the hundreds of clean and safe motels we would find along the way that can provide temporary shelter?

G… I guess having thousands of restaurants with varying cuisine from around the world is just not good enough either.

H. Or could it be that when we wreck our car, emergency workers show up and provide services to help all and even send a helicopter to take you to the hospital.

I… Perhaps you are one of the 70 percent of Americans who own a home. You may be upset with knowing that in the unfortunate case of a fire, a group of trained firefighters will appear in moments and use top notch equipment to extinguish the flames, thus saving you, your family, and your belongings.

K.. Or if, while at home watching one of your many flat screen TVs, a burglar or prowler intrudes, an officer equipped with a gun and a bullet-proof vest will come to defend you and your family against attack or loss.

L. This is all in the backdrop of a neighborhood free of bombs or militias raping and pillaging the residents.  This is in neighborhoods where 90% of teenagers own cell phones and computers.

M.  How about the complete religious, social and political freedoms we enjoy that are the envy of everyone in the world?  Maybe that is what has 67% of you folks unhappy.

Fact is we are the largest group of ungrateful, spoiled brats the world has ever seen. No wonder the world loves the U.S., yet has a great disdain for its citizens. They see us for what we are. The most blessed people in the world who do nothing but complain about what we don’t have, and what we hate about the country instead of thanking the good Lord we live here.  I know, I know. What about the president who took us into war and has no plan to get us out? The president who has a measly 31 percent approval rating?  Is this the same president who guided the nation in the dark days after 9/11?  The same president that cut taxes to bring an economy out of recession?  Could this be the same guy who has been called every name in the book for succeeding in keeping all the spoiled ungrateful brats safe from terrorist attacks? The same commander in chief of an all-volunteer army that is out there defending you and me?

Did you hear how bad the President is on the news or talk show?  Did this news affect you so much, make you so unhappy you couldn’t take a look around for yourself and see all the good things and be glad? Think about it……are you upset at the President because he actually caused you personal pain OR is it because the ‘Media’ told you he was failing to kiss your sorry ungrateful behind every day. Make no mistake about it.  The troops in Iraq and Afghanistan have volunteered to serve, and in many cases may have died for your freedom. There is currently no draft in this country. They didn’t have to go. They are able to refuse to go and end up with either a ”general” discharge, an ‘other than honorable” discharge or, worst case scenario, a ”dishonorable” discharge after a few
days in the brig.

So why the flat-out discontentment in the minds of 69 percent of Americans?  Say what you want but I blame it on the media.  If it bleeds it leads and they specialize in bad news. Everybody will watch a car crash with blood and guts. How many will watch kids selling lemonade at the corner? The media knows this and media outlets are for-profit corporations.  They offer what sells, and when criticized, try to defend their actions by ‘justifying’ them in one way or another. Just ask why they tried to allow a murderer like O.J. Simpson to write a book about how he didn’t kill his wife, but if he did he would have done it this way……Insane!

Turn off the TV, burn Newsweek, and use the New York Times for the bottom of your bird cage. Then start being grateful for all we have as country. There is exponentially more good than bad. We are among the most blessed people on Earth and should thank God several times a day or at least be thankful and appreciative.  With hurricanes, tornado’s, fires out of control, mudslides, flooding, severe thunderstorms tearing up the country from one end to another, and with the threat of bird flu and terrorist attacks, are we sure this is a good time to take God out of the Pledge of Allegiance?”
The above has been provided by Scott Messer, President, Sales Evolution scott@salesevolution.com

While i am a proponent of recycling & re-purposing, i suggest the NY Times get read prior to its function at the bottom of your bird cage.

Diane Lemonides, Chairwoman of the Luxury Marketing Council of Philadelphia shared statistics on how the shift in the economy affects shopping. Many consumers are either purchasing online or researching online before shopping in a retail location, as they may be spending more time at home. So if the buying patterns of consumers are changing with the economy, isn’t it important to look for new and cutting-edge ways to target them? Perhaps, but don’t forget the business basics: differentiate yourself from your competition and focus on the real life customer experience.

Martin Weinberg, Senior Account Manager at E-City Interactive, gave a shining example of a business that has the basics perfected. Zappos.com, the online shoe giant, differentiates itself from competitors by offering a commitment to excellent customer service with two-way free shipping and a 365-day return policy. Integrating the Zappos brand into social media outlets is just the icing on the cake. Even their CEO, Tony Hsieh, isn’t so Atwitter about Twitter! Weinberg reminds retailers that it’s not only the items that the luxury consumer’s want, it’s the end experience.

Take for instance the King of Prussia Mall, the East Coast’s premier shopping destination, which has a Facebook fan page with over 15,600 fans. Consumers love the experience of shopping at this behemoth mall with luxury retail locations, so they connect to the mall via a social medium to stay on top of trends and sales in order to feel like they are part of the experience, even if it’s only in front of their computer. Panelist Patrick Champalou, store manager of Cartier at King of Prussia Mall shared that their store attracts guests from Ohio who visit the location just to purchase an engagement ring – that’s approximately an 8-hour drive, one way! In the case of engagement rings and unique jewelry pieces, consumers may not purchase online because they want to experience the in-store purchase. That’s where customers are perusing online but making their purchases at the store in order to engage in the experience; to see, touch and insert themselves into the brand intimacy.

Yes, it’s confusing and conflicting. You need to decide whether social media is right for your brand and in reaching your target audience. The stats can’t be ignored, though: there are 350 million active Facebook users and of those, 10 million are fanning pages each day. It’s best to understand the nuances of these newfangled media outlets and the investment of time before diving head first into the social cyber ether.

Olivia Haist-Rabe, Founder of Bespoke Media Group, gives examples of the benefits of social media in tracking ROI. Facebook and Twitter can provide direct ROI by using applications (or apps) as a utility. Think of these mediums as tools in your marketing toolbox. By offering clients promotions and contests, it’s a great way to engage your online fan base and track responsiveness. Also, make your client base feel special and promote brand loyalty by offering exclusivity; e.g. hold an exclusive event for VIPs or provide a service which your clients can’t buy like tickets to fashion shows or sporting events that are by invitation only. Luxury is about indulgence, so offer your clients a product, service or experience that is unique. One successful example of a promotion is Burberry’s ‘Art of the Trench,’ a living celebration of the trench coat and the people who wear it. Burberry encourages clients to photograph themselves outside, wearing their Burberry trench coat and even categorize the submissions by gender, coat color, popularity and weather conditions. You can also connect to the site via Facebook – a cross-platform marketing endeavor. Another example is the offer for free ice cream Starbucks promoted in the summer of 2009 via Facebook. The app allowed users to send coupons for free ice cream to friends or themselves via Facebook. Both of these companies can easily track how effective their brand promoting campaigns are by the number of customers who participate in their promotions. So if you are ready to try social media for your business, think about integrating a promotion or invitation, this will allow you can track the number of hits and RSVPs you receive to determine whether the time invested in social media marketing is worthwhile.

A fun way to understand social media and online networking is to think of it as a party. The social aspect is about connecting with your customers and trust is built over a period of time via small, fruitful encounters online. So, if you decide to integrate social media and e-retailing into your marketing plan, it’s important not to lose sight of your brand identity. If you were socializing at a real, in-person party, you would always put your best foot forward and communicate your company’s mission and services in a cohesive manner. It’s the same concept for online networking. Whether you have a website with video and a blog or an online community via Facebook or Twitter, it’s important to show a seamless transition from one to the other in regards to your brand. The best way to accomplish this is to get all parties involved in brand marketing on board early in the process. As the saying goes, “it takes a village,” so encourage collaboration between your in-house marketing team, your agency, your video production company, your web developer and any other hands responsible for promoting brand awareness. Consistency and cohesion are key to communicating your brand identity to the cyber universe.

Have we got you thinking, “We’ve got to do something on Facebook;” but what? Don’t just shoot from the hip. Rally your marketing team and partners to develop a social media plan that can be tracked. Decide what your corporate voice sounds like so that all blogging, Tweeting and posting are cohesive. Don’t chatter; it devalues your brand. Share insightful information, industry news, trends and tips with your client base instead of letting them know that you just finished your third cup of coffee today. Treat your customers and fans to private events – parties, invitation only sales, etc. Remember, it’s the exclusive experience that attracts the luxury consumer. This will also facilitate tracking for ROI. And if you are a business owner, decide whether you want to separate your personal and professional social networks – it’s a decision that only you can make! So, after weighing the pros and cons of social networking, e-retailing and integrated media, will your business exist in cyber space?

Fearful of Facebook? Terrified of Tweeting? Contact Diane Lemonides, President of Verve Marketing & Design for tips on dipping your toe in the virtual pool of social networking, e-retailing and integrated media at dlemonides@vervemarketinganddesign.com or 610.358.2304.

In a panel discussion at Rescue Rittenhouse Spa hosted by the Luxury Marketing Council of Philadelphia, three women entrepreneurs discussed niche marketing to womankind. From the industries of wine making, financial planning and luxury marketing, Deborah Brenner of Women of the Vine, Christy Barilotti of Barilotti Wealth Strategies and Diane Lemonides of Verve Marketing & Design discussed the spending habits of women and how to reach and capture this powerful market segment.

Deborah Brenner, author of Women of the Vine, communicated how women in the wine industry broke the glass ceiling in a male-dominated field. Her business is the first wine company to unite women winemakers under one brand. The wine industry had been sitting on an untapped market for years: women (who purchase 71% of all retail wine, by the way). Feeble attempts had been made in the past to market to women – low carbohydrate and lower alcohol content in wine made “specifically” for women left a bitter taste. There’s a fine line when marketing to women; a woman can be your greatest ally or your most negative review if you insult her intelligence and lifestyle. Luckily for Deborah, marketing to women was instinctual. It became an outreach to women based on wine made by women, in women-owned businesses who are educated in wine making and masters of the vine. This type of marketing tells a story to women, about women and is fodder for great word-of-mouth advertising – what better story to tell while sharing a bottle of wine with your girlfriends?

So how are women saving for wine and spending on Prada? Christy Barilotti, certified financial planner, specializes in consulting with women and their money. She focuses on marketing to women by combining something they love (shopping, spa services, champagne) with something they need (financial advice). With 80% of household decisions being made by women, they should certainly understand the connection to their finances. Christy believes that building relationships with women is the key to retaining clients. It’s about educating women and giving them the power to make informed decisions about their futures. It’s also embracing women as a part of a community; female clients often bring their mothers, friends or sisters to financial planning events. What’s good for one woman may very well be good for other women in her circle. It’s also about hitting individual pain points for women and helping them to make informed decisions now that will impact their futures; for example, some women are afraid to be burdens on their children or change their lifestyles as they age. Understanding their concerns will help to resolve their fears. And know your audience; women in their 30s are now asking their husbands for advice more than ever before, women in their 50s are making decisions minus their husband’s input and single women absorb the information and promptly decide. Even within one gender market segment, there are many sub-categories based on age, ethnicity and individuality. Know your target before you market.

Diane Lemonides, President & Brand Strategist of Verve Marketing & Design, understands the importance of niche marketing, especially in a recessed economy. With many businesses decreasing marketing budgets, it’s important now so more than ever to identify and target a narrow market segment; the key is to qualify your prospects before you communicate to them by understanding their world. Businesses can no longer afford to cast a wide net and spend excessive marketing dollars in hopes of attracting a few qualified clients. When marketing to women specifically, make sure you appeal to their individual interests and passions, as they are diverse across their socio-economic divides and values. Even un-sexy hard goods like refrigerators are emotionally driven purchases for most women; remember, the aesthetic matters. If your business targets a niche segment of women, you will see a greater return on investment than if you cast a wide net. It’s also time to think outside of the box regarding communication. Talk to the type of woman you are looking to attract to your brand – engage her and she will be yours – it’s dating 101! Some of the best marketing dollars you won’t spend will be the word-of-mouth advertising you receive from satisfied female customers.

It’s important, especially in this economy, for consumers to know what a company stands for, its mission, expertise and philanthropic interests. Specifically when marketing to women, let them know if you are a woman-owned or run business – many women tend to support other women, strengthened by organizations like the National Association of Women Business Owners. If you specialize in a product or service for women, make sure you know your audience and communicate to them clearly. If sharing your message with various generations of women, know which medium is the best communication forum; i.e. email, LinkedIn, Facebook, blogspot, USPS snail mail, Twitter, or the volumes of paid advertising vehicles available. Female consumers want to feel that they are being listened to and understood. If your business wants to be a part of the $100 billion spent by women each year, think niche marketing and focus on women.

This white paper was written by a female marketing executive and is compliments of Verve Marketing & Design; a woman owned and operated company. For more information on capturing the eye of the female consumer (and getting her to open her purse), contact Diane Lemonides, President & Brand Strategist, at 610.358.2304 or dlemonides@vervemarketinganddesign.com.

Imagine waking up every morning to a breathtaking view of Center City Philadelphia and walking across your sleek, exotic hardwood floors with a freshly roasted, steaming cup of Columbian coffee as you scan the tops of skyscrapers in the City of Brotherly Love. This experience is a privilege that all inhabitants of The Residences at Two Liberty Place enjoy daily. This unique venue was the perfect setting for a niche marketing discussion on the home space, as these residences are anything but ordinary. The view aside, these residences offer a concierge approach to high class living; some amenities include a personal salon, spa treatments, dry cleaning, tickets for theatre and sporting events, travel arrangements, owner events, housekeeping services, grocery delivery, pet grooming and more. And with neighbors that include two prominent Philadelphia Phillies players, what more can city living offer?

With these hotel-like amenities in mind, an eager audience of members and guests welcomed the informative and engaging dialogue provided by the Luxury Marketing Council of Philadelphia’s panelists who live and breathe the home industry.

In a shaken economy with longer sales cycles, panelists and audience members discussed how to capture the 5% of consumers with a $250,000+ household income. These consumers typically live in homes with massive square footage – the more space there is to fill, the more style, personality and attitude it takes to complete. This sector of the market adorns their spaces with personality and style in mind, whether they are primary or secondary homes, condos or vacation getaways. These consumers are also looking for finely crafted, beautiful, classic, iconic and hand made products and brands to help communicate their status.

A major status symbol might be a good night’s sleep. Maya Ben from Hollandia was a panelist who reminded us that their sleep systems are upwards of $20,000. “If we’re making [our product] cheaper, then we’re not making it as good,” said Ben. These higher standards are the European barometer for quality in a bed, but are they the standard in U.S. hotels and homes? Not quite. Compared to Japan and Russia, the U.S.A. is behind the eight ball when it comes to getting eight hours of luxurious slumber. If developing customized solutions for your client that are both functional and stylish (and if money is no object), consider tailor-made products – your clients’ certainly will thank you.

In these uncertain times, it’s taking longer and longer to thank someone for doing business with your company. Panelists Lloyd Princeton of Design Management Company and Matthew Izzo of matthewizzo.com communicated that consumers are still spending on quality and higher end products, but sales are taking longer to close. And that’s not just on the East Coast; Princeton has a successful design business in California and Izzo’s website has a worldwide reach. It’s not that consumers won’t spend in the end; it’s just that the light at the end of the tunnel is farther away. Hitting a pain point with the audience members, Princeton stated, “It’s easy to undercut with goods and services. It presents a problem and a challenge. Every company has a breaking point.” The more companies compromise the quality of their products, the more diluted brands become. It’s a reality in our economy, but one that some businesses may need to steer clear of in order to remain true to their mission, image, brand and stay at the top of their game.

And what about the ecologically conscious decisions that affect the home space? Worrying about one’s carbon footprint may be more talk than walk. Lauren McCutcheon, Editor of Philadelphia Home magazine ponders how some affluent suburban moms remind each other to utilize reusable grocery bags at the market, but drive there in oversized vehicles like Escalades and Hummers. More and more consumers are eco-conscious, but when push comes to shove, the green alternative might not be the deciding factor in closing a sale.

So as marketers, when does it become our responsibility to educate and enlighten the consumer? It’s a 24-7 job. We need to talk about cost versus quality, give eco-friendly options and push for a close, we also need to tout our uniqueness in relation to our brands and products and focus on the most likely candidates for our services remembering that time is money. Regardless of whether your niche is the home space, it’s imperative for you to understand how you can make an impact on the consumers within your market. How were we so enlightened in just a few hours? With our 360-degree view of the city from a luxury living space, we couldn’t help but see the entire picture.

Interested in more niche marketing wisdom? Verve Marketing & Design is happy to discuss niche marketing tactics or consult on any other marketing trend. Visit www.vervemarketinganddesign.com for a list of our capabilities or contact Diane Lemonides, President & Brand Strategist at 610.358.2304 or dlemonides@vervemarketinganddesign.com.

Co-author of The Middle-Class Millionaire, Lewis Schiff, gave an example of how an industry developed in response to the desires of this population. One of the most important values to the middle-class millionaire is their health, which precipitated the example Lewis Schiff relayed on the concept of “concierge medicine”. A concierge practice is “one that accepts only a limited number of patients, all of whom enjoy direct cell phone access to their doctors, same-day or next-day appointments, extended office visits, and a personalized preventative health care program to follow” (Prince, Schiff 94). Of course there is a cost for this private care, which ranges based on the level of personalized service needed; however, the cost, when broken down, just might put you ahead of the game. Since time is such an important entity to the middle-class millionaire, the value of saving time by cutting out time spent in a doctor’s office waiting room while establishing a personalized relationship with the physician is a service worth monetary investment.

It’s fascinating to dissect the mind of the middle-class millionaire and how they came to be so successful and wealthy. This segment has achieved financial success but can’t afford to stop working. They want to maintain their lifestyles and are changing America because of it. It’s no coincidence that there is a formula to achieving this level of success. “They are uniquely achievement-oriented. They tend to be high-earning and big-spending. Through their lifestyle choices and spending decisions, they wield influence in the overall economy in support of the same middle-class values and concerns they were raised with: security, health, self-betterment, family and community. They have achieved the American dream the American way.” (Prince, Schiff 9).

The middle-class millionaire’s values certainly differ from those of old money (based on Prince’s and Schiff’s extensive research) and therefore, they have to be marketed to and treated differently based on their core beliefs. You never know what another person is thinking, but after reading The Middle-Class Millionaire, you have a pretty good (and substantiated) look into the mind of this new breed of rich.

Interested in delving deeper into the mind of the middle-class millionaire? Pick up Russ Alan Prince and Lewis Schiff’s book The Middle-Class Millionaire in hardcover or the Influence of Affluence in paperback.

Interested in learning more about marketing to the middle-class millionaire? Contact Diane Lemonides, President & Brand Strategist of Verve Marketing & Design at 610.358.2304 or dlemonides@vervemarketingandesign.com.

Works Cited

Prince, Russ Alan and Lewis Schiff. The Middle-Class Millionaire. New York: The Doubleday Broadway Publishing Group, a division of Random House, Inc., 2008.

Every aspect of every industry is shifting due to our scattered economy. A value proposition your company can offer to the consumer is the Full Experience – it’s handholding from start to finish, paying attention to details and customizing factors often as simple as hand-written thank you notes. Although the amenities offered for each experience are important, it’s the way the customer is treated prior to, during and after the experience that truly makes the mark.

In our ever-changing world, both from an economic and technological standpoint, the key is determining the best way to reach consumers in today’s market. Mediums such as television, radio, magazines and newspapers have taken a hit over the past year as many marketing budgets reallocate funds into online strategies – SEM, viral campaigns, blogs and the ever-growing popularity of social networking online. This is where your brand and message needs to be buttoned up – today’s consumers are reading reviews, relaying experiences via blogs, chatting to friends, colleagues and family via Facebook and Twitter and accessible 24/7 on iPhones and Blackberries. Whether your company’s experience lives up to its potential or not, hundreds of people will know with the tap of a keyboard and click of a ‘post’ button.

It’s also necessary to stay in touch with what luxury is today. It’s still the bespoke, the finely crafted and the couture. The changing factor is the luxury consumer. It’s a new elite class that expects a crafted experience, value-added compensation for loyalty and the opportunity to share experiences with friends and colleagues. It’s the companies that cater to these needs, anticipating every detail and providing take-away products and services once the experience ends that will stand out in today’s market. It’s also foreseeing the consumer’s needs, which is the value of your role: offer what they desire before they know they want it.

When catering to the luxury consumer, make sure every “t” is crossed and “i” is dotted. It’s ensuring your brand is buttoned-up, communicated to the right audience via the best mediums, being flexible as times and consumers change, and remaining true to your message. It’s the entire experience; engaging all of the senses to see, touch, smell, hear and taste the uniqueness that is your brand’s experience. This experience is true luxury.

Does your business creates a luxury experience but has trouble capturing the right audience? Do you feel online marketing strategies are out of reach but important for communicating your message? Verve Marketing & Design can help. Please contact Diane Lemonides, President & Brand Strategist at 610.358.2304 or dlemonides@vervemarketinganddesign.com.

In the challenging business climate in which we exist, it is important for companies to define themselves by their expertise or the incentives they can offer customers. One perfect example is outstanding service. When purchasing a luxury vacation with SeaDream Yacht Club, Lucille DePerro, Director of Business Development, ensures the experience meets expectations. Travelers who request a service or product on board during one excursion, expect it forever; for example, a traveler who once requested a specific brand of peanut butter now has it waiting for him each time he enjoys breakfast overlooking the ocean. Passengers who forget their reading glasses at dinner count on the friendly and prompt server to provide an array of frames in all patters and magnifications to easily aid them in choosing their cuisine. In the luxury travel space, everyone presupposes the ultimate experience. It’s the responsibility of the high-end travel companies to hire exceptional staff, train them well and demand that they go above and beyond for the customer.

Speaking of staff, employing the right people is one of, if not the most, important asset to any company. It is also each company’s responsibility to teach team members the mission of company, empower them to build customer relationships and hold them accountable for customer satisfaction. A tool to aid employees with providing remarkable service is access to a customer database. Alexandra Townsend of Lacroix at the Rittenhouse Hotel knows that each guest wants customization and personalization when visiting. Having systems in place to document customer preferences in both the restaurant and hotel facilitates outstanding service in both locations. This, in turn, aids in building relationships, which leads to brand loyalty; customers are more apt to spend money where they feel a connection, especially in tougher economic times. And thank those loyal customers – offering added value services to favorite clients will communicate how much they are appreciated. A little warm and fuzzy goes a long way!

The more luxurious your product, experience or service, the harder you have to work. High-end customers will force a company to meet certain standards. They will know whether your company is truly luxury or whether it’s a lot of flash; and service often dictates categorization. Expectations of service vary from customer to customer, so be sure to listen to your customers on an individual basis, anticipate their needs and exceed expectations. Customers tend to be more vocal when things go wrong, especially during a down economy. To curtail infractions, retain integrity and consistency across your brand, which includes notable service.

In this economic climate, just listen to your customer. Maybe the glitzy, glam luxury is no longer the trend? Perhaps access to exclusive products, services and experiences is important? What if perceived value is the ticket? Whatever the answer – and it will vary with each customer – it is important to understand what matters to your individual customers when positioning your brand, highlighting promotions or training your staff. It’s nothing you haven’t heard before, but it’s a beyond basics reminder of what works to attract and retain customers. Give customers better communication in uncertain times; the proof is in the ROI.

It’s not an easy year to talk about luxury as financial analysts predict that luxury spending will be down in 2009 and thirty percent of the luxury brands we know will go out of business over the next five years. However, there are ways to combat the changing nature of how the affluent are spending since new ideas and entrepreneurs are always cooking. The luxury goods and service industry will prevail in this nation, as it has already survived World Wars and the Great Depression.

Editor and President of Barron’s, Ed Finn, notes two issues with luxury spending: disappearance of wealth and psychological changes in spending. “Wealth will take some time to bounce back,” says Finn. So in the interim, if you can change your selling tactics to provide charitable donations with purchase, eco-friendly investments or products and services for the family, the wealthy will bite. Consumers want to feel good about indulging.

For the retail sector especially, it’s imperative to talk to the consumer about what they want and then figure out how to market to them – incentivize them to shop and spend. It’s more important now than ever to evaluate what ‘old’ tricks are working, what new ideas can be implemented and the tracking and measurement statistics to support your marketing budget in 2009.

Also, think multi-generational. It’s not just about capturing the affluent mature woman or the CEO; your target audience may be getting younger. With the popularity of online shopping, community forums such as myspace.com and the ever popular text messaging on phones that do everything but time travel, it might be wise to reevaluate your marketing tactics. Since Generations Y and Z are influential in how money is being spent, it makes sense to appeal to them via their preferred medium: online. That is why market research is important to understand your audience and structure your message appropriately – don’t waste marketing dollars on assumptions, it’s not worth it!

Although wealth still exists in strides, with so many Americans struggling, people who have money don’t want to be seen spending it. “The affluent are hiding their consumption; retailers are providing plain, brown bags rather than oversized totes with logos,” according to Marc Bachus, Marketing Manager at the King of Prussia Mall, the largest retail space on the East Coast.

No longer are CEOs renting private jets to fly to their home in Aspen or to the weekend sports event; they are flying business class on major airlines. This trend is not going change soon, so businesses must adapt. This is where the channel of distribution matters. Buying a necklace at retail price at the Harry Winston store on Fifth Avenue is quite different than purchasing the same heirloom at a charity auction; again it’s the psychological component of spending. Brands need to speak to their customers in many more ways – they need to educate and customize the experience based on the individual customer’s comfort level.

 So what have we learned about changing tactics in challenging times? If you resist change, you will be left in the dust. Consumers identify those businesses that are trying to adapt to their needs and they are naturally drawn to them. It’s respect for the consumer and their dollar – no matter how many dollars they may have – that will win you the sale. If businesses can succeed in a down economy, they can certainly succeed in good times; hey, FedEx, Microsoft, MTV, CNN and GE all started up during recessions. So we plug along, collaborate with our peers to figure out the madness and adapt. And also, let’s hope things start to turn around in the third quarter of 2009!

It is imperative in today’s multi-cultural world to know how to identify your ideal client. It goes beyond age and house hold income – it’s understanding detailed demographics, psychographics and purchase behaviors. It’s identifying your potential clients and being able to speak to them in a language in which they identify. It’s understanding as much as you can about your target audience from their marital status to their house hold income to their philanthropic affiliations and hobbies. It’s truly getting a solid picture of the person (with disposable income) that you want in your store or on your website purchasing your product or service.

This is where you have to do some homework. You need to be able to speak to your ideal client, even if you’re not bi-lingual. To start, know their age, marital status, zip code, number of children, type of car, political party, religion, ethnicity, sexual orientation, dining habits, highest educational degree completed, travel preferences and house hold income. Gather as much data as possible as often as you can in order to identify your ideal prospect, understand their habits and position your brand ideally – you want your product or service to be the most appealing to your target audience.

Okay, so information over load, right? Let me break it down for you in the most basic, animalistic sense: dating. Think about this for instance, when someone lists a personal ad, they typically don’t do the following: “Male seeking Female.” Let’s assume our male isn’t that desperate and wants to list specific criteria in order to identify a potential mate with similar interests. Let’s elaborate on our listing: “White, athletic, professional, native Philadelphian male in his 30’s seeks attractive, fit female in her late 20’s or early 30’s living in Philadelphia who enjoys dining, travel, dancing, professional sports, reading and music.” Our “male” is likely to receive many more qualified responses with a detailed listing vs. a vague ad appealing to all single ladies in his area. The same principle applies to “attracting” your ideal customer.

Let’s time travel for a minute. Fifty years ago when the white males of Madison Avenue ruled the advertising world (anyone see the show Madmen recently?), the “mass market” catered to one ethnicity. In today’s non-traditional market, it is imperative to position your brand properly in order to reach your niche market within the general sector. For example, close to 50% of the population in today’s metropolitan markets are “ethnic.” And, it’s not simply African American or Hispanic. We’ve come a long way in the past 50 years – the 2000 census was the first to allow individuals to self-identify themselves as multicultural. So, it’s understanding if your consumer is African American and of Caribbean or Black Hispanic descent or Hispanic and of Mexican, Puerto Rican, Cuban or South/Central American descent. If you are trying to reach one niche ethnic market, you better understand their preferences – create a message that is relevant to them. The multi-cultural information that is now available opens a whole new opportunity to extract data about your metropolis in order to understand the buying patterns, religions, age, and influences of a specific ethnic audience.

Let’s face it: people often buy when they feel connected to a brand or a company. Our grandparents frequented the corner, “mom & pop” store because they knew and trusted Mr. and Mrs. Nicola (yes, my grandparents were Greek). Really, not much has changed. If your customer identifies with your brand, positioning and philanthropic ideals, they will likely be a loyal customer. If you can take it one step further and understand everything about them (it’s okay to be a voyeur), you are one step closer to reaching, obtaining and retaining that customer.

So, after you have answered a plethora of questions about your ideal customer and you understand them like the back of your hand, make sure you keep your focus, learn to speak their language and continue to do your homework! Niche marketing must be incorporated into your planning – it will save you money, help you target effectively and facilitate creating the right message for the right audience in the right medium. Go niche or go home! Well it’s about lunchtime and I hear General Tso calling my name – funny, I don’t speak Chinese…